Isthmus Partners LLC Raises Position in Snap-on Incorporated (NYSE:SNA)

Isthmus Partners LLC increased its holdings in Snap-on Incorporated (NYSE:SNA) by 4.7% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,213 shares of the company’s stock after buying an additional 54 shares during the period. Isthmus Partners LLC’s holdings in Snap-on were worth $412,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. State Street Corp raised its position in shares of Snap-on by 0.5% in the third quarter. State Street Corp now owns 2,115,973 shares of the company’s stock worth $613,019,000 after buying an additional 10,645 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of Snap-on by 4.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,806,278 shares of the company’s stock worth $613,195,000 after buying an additional 77,486 shares in the last quarter. Geode Capital Management LLC raised its position in shares of Snap-on by 4.5% in the third quarter. Geode Capital Management LLC now owns 1,613,459 shares of the company’s stock worth $466,199,000 after buying an additional 69,590 shares in the last quarter. Nordea Investment Management AB raised its position in shares of Snap-on by 12.8% in the fourth quarter. Nordea Investment Management AB now owns 1,128,317 shares of the company’s stock worth $384,813,000 after buying an additional 127,859 shares in the last quarter. Finally, Pacer Advisors Inc. raised its position in shares of Snap-on by 9.4% in the third quarter. Pacer Advisors Inc. now owns 907,655 shares of the company’s stock worth $262,957,000 after buying an additional 78,184 shares in the last quarter. Hedge funds and other institutional investors own 84.88% of the company’s stock.

Snap-on Stock Down 0.6 %

SNA opened at $340.01 on Tuesday. The business’s fifty day simple moving average is $342.21 and its 200 day simple moving average is $328.33. Snap-on Incorporated has a 52 week low of $252.98 and a 52 week high of $373.90. The stock has a market cap of $17.81 billion, a PE ratio of 17.44, a P/E/G ratio of 2.21 and a beta of 0.99. The company has a quick ratio of 3.17, a current ratio of 4.15 and a debt-to-equity ratio of 0.22.

Snap-on (NYSE:SNA) last announced its quarterly earnings data on Thursday, February 6th. The company reported $4.82 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.78 by $0.04. Snap-on had a return on equity of 19.20% and a net margin of 21.71%. During the same quarter in the previous year, the company earned $4.75 EPS. As a group, research analysts expect that Snap-on Incorporated will post 19.79 earnings per share for the current fiscal year.

Snap-on Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Stockholders of record on Monday, February 24th were paid a dividend of $2.14 per share. The ex-dividend date was Monday, February 24th. This represents a $8.56 dividend on an annualized basis and a dividend yield of 2.52%. Snap-on’s dividend payout ratio (DPR) is currently 43.90%.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. Barrington Research reissued an “outperform” rating and issued a $350.00 target price on shares of Snap-on in a research note on Monday, February 10th. Tigress Financial increased their target price on Snap-on from $385.00 to $390.00 and gave the company a “buy” rating in a research note on Tuesday, March 4th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the company. According to MarketBeat.com, Snap-on currently has a consensus rating of “Hold” and an average target price of $346.40.

Insider Activity

In other news, CFO Aldo John Pagliari sold 6,909 shares of the firm’s stock in a transaction dated Wednesday, December 18th. The stock was sold at an average price of $347.62, for a total transaction of $2,401,706.58. Following the transaction, the chief financial officer now directly owns 100,668 shares of the company’s stock, valued at approximately $34,994,210.16. This trade represents a 6.42 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Jesus Arregui sold 6,451 shares of the firm’s stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $337.81, for a total value of $2,179,212.31. Following the transaction, the senior vice president now directly owns 257 shares in the company, valued at $86,817.17. This trade represents a 96.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 20,220 shares of company stock valued at $6,906,802. 4.10% of the stock is currently owned by insiders.

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.