Stratos Wealth Partners LTD. Increases Stock Position in Snap-on Incorporated (NYSE:SNA)

Stratos Wealth Partners LTD. boosted its holdings in shares of Snap-on Incorporated (NYSE:SNA) by 2.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 29,147 shares of the company’s stock after buying an additional 694 shares during the quarter. Stratos Wealth Partners LTD.’s holdings in Snap-on were worth $9,895,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. UMB Bank n.a. increased its holdings in shares of Snap-on by 70.5% in the 4th quarter. UMB Bank n.a. now owns 75 shares of the company’s stock valued at $25,000 after acquiring an additional 31 shares during the period. Reston Wealth Management LLC bought a new stake in Snap-on during the third quarter valued at about $30,000. Brooklyn Investment Group purchased a new position in Snap-on in the third quarter valued at about $39,000. nVerses Capital LLC bought a new position in Snap-on in the third quarter worth about $58,000. Finally, Private Trust Co. NA lifted its position in shares of Snap-on by 38.2% during the third quarter. Private Trust Co. NA now owns 217 shares of the company’s stock valued at $63,000 after buying an additional 60 shares during the last quarter. Institutional investors own 84.88% of the company’s stock.

Insider Activity

In other Snap-on news, CFO Aldo John Pagliari sold 6,909 shares of Snap-on stock in a transaction that occurred on Wednesday, December 18th. The shares were sold at an average price of $347.62, for a total transaction of $2,401,706.58. Following the completion of the sale, the chief financial officer now directly owns 100,668 shares in the company, valued at approximately $34,994,210.16. The trade was a 6.42 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Nicholas T. Pinchuk sold 21,783 shares of the stock in a transaction on Monday, December 9th. The stock was sold at an average price of $354.83, for a total transaction of $7,729,261.89. Following the completion of the sale, the chief executive officer now owns 769,738 shares in the company, valued at $273,126,134.54. The trade was a 2.75 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 32,192 shares of company stock valued at $11,400,978. Company insiders own 4.10% of the company’s stock.

Snap-on Trading Up 0.5 %

NYSE:SNA opened at $357.61 on Thursday. The company has a current ratio of 4.18, a quick ratio of 3.14 and a debt-to-equity ratio of 0.22. The firm has a fifty day simple moving average of $349.05 and a 200-day simple moving average of $318.38. Snap-on Incorporated has a 12 month low of $252.98 and a 12 month high of $373.89. The company has a market capitalization of $18.78 billion, a P/E ratio of 18.41, a PEG ratio of 2.23 and a beta of 0.99.

Snap-on Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Thursday, November 21st were paid a dividend of $2.14 per share. This represents a $8.56 annualized dividend and a yield of 2.39%. The ex-dividend date of this dividend was Thursday, November 21st. This is an increase from Snap-on’s previous quarterly dividend of $1.86. Snap-on’s payout ratio is presently 44.06%.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on SNA shares. Bank of America lifted their price objective on shares of Snap-on from $255.00 to $280.00 and gave the stock an “underperform” rating in a research report on Friday, October 18th. Roth Mkm upped their price target on Snap-on from $324.00 to $365.00 and gave the stock a “buy” rating in a research report on Tuesday, October 22nd. Tigress Financial raised their price objective on Snap-on from $336.00 to $385.00 and gave the stock a “buy” rating in a research report on Friday, October 25th. Robert W. Baird boosted their target price on Snap-on from $290.00 to $347.00 and gave the stock a “neutral” rating in a research note on Friday, October 18th. Finally, Barrington Research reiterated an “outperform” rating and issued a $360.00 price target on shares of Snap-on in a research note on Monday. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $347.40.

Snap-on Profile

Snap-on Incorporated manufactures and markets tools, equipment, diagnostics, and repair information and systems solutions for professional users worldwide. It operates through Commercial & Industrial Group, Snap-on Tools Group, Repair Systems & Information Group, and Financial Services segments.