BTS Asset Management Inc. Takes Position in Snap-on Incorporated (NYSE:SNA)

BTS Asset Management Inc. purchased a new position in Snap-on Incorporated (NYSE:SNA) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 649 shares of the company’s stock, valued at approximately $220,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in SNA. American Century Companies Inc. raised its holdings in Snap-on by 12.2% in the second quarter. American Century Companies Inc. now owns 71,005 shares of the company’s stock worth $18,560,000 after buying an additional 7,746 shares during the last quarter. Meiji Yasuda Asset Management Co Ltd. grew its position in shares of Snap-on by 30.8% during the 2nd quarter. Meiji Yasuda Asset Management Co Ltd. now owns 2,206 shares of the company’s stock valued at $577,000 after acquiring an additional 520 shares during the period. Amalgamated Bank lifted its position in shares of Snap-on by 25.2% during the 2nd quarter. Amalgamated Bank now owns 13,838 shares of the company’s stock valued at $3,617,000 after buying an additional 2,788 shares in the last quarter. Vanguard Personalized Indexing Management LLC grew its stake in shares of Snap-on by 13.0% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 4,041 shares of the company’s stock valued at $1,056,000 after acquiring an additional 464 shares during the period. Finally, Blair William & Co. IL increased its holdings in Snap-on by 0.6% in the 2nd quarter. Blair William & Co. IL now owns 7,885 shares of the company’s stock worth $2,061,000 after acquiring an additional 48 shares in the last quarter. Institutional investors own 84.88% of the company’s stock.

Snap-on Stock Up 0.7 %

NYSE SNA opened at $348.17 on Friday. The business has a fifty day moving average price of $351.33 and a 200 day moving average price of $310.00. The company has a market cap of $18.28 billion, a P/E ratio of 17.92, a P/E/G ratio of 2.09 and a beta of 1.00. The company has a debt-to-equity ratio of 0.22, a quick ratio of 3.14 and a current ratio of 4.18. Snap-on Incorporated has a one year low of $252.98 and a one year high of $373.89.

Snap-on (NYSE:SNA) last posted its quarterly earnings data on Thursday, October 17th. The company reported $4.70 earnings per share for the quarter, topping analysts’ consensus estimates of $4.58 by $0.12. Snap-on had a net margin of 22.13% and a return on equity of 19.44%. The firm had revenue of $1.15 billion during the quarter, compared to analysts’ expectations of $1.16 billion. Research analysts anticipate that Snap-on Incorporated will post 19.05 EPS for the current fiscal year.

Snap-on Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 10th. Investors 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 2.46%. This is a boost from Snap-on’s previous quarterly dividend of $1.86. The ex-dividend date was Thursday, November 21st. Snap-on’s payout ratio is presently 44.06%.

Insider Transactions at Snap-on

In other news, CEO Nicholas T. Pinchuk sold 21,783 shares of Snap-on stock in a transaction dated 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 sale, the chief executive officer now owns 769,738 shares in the company, valued at approximately $273,126,134.54. The trade was a 2.75 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Aldo John Pagliari sold 6,909 shares of the stock in a transaction on 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 sale, the chief financial officer now owns 100,668 shares of the company’s stock, valued at approximately $34,994,210.16. This represents a 6.42 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 44,929 shares of company stock valued at $15,645,074. 4.10% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

SNA has been the subject of several research analyst reports. Tigress Financial increased their target price on Snap-on from $336.00 to $385.00 and gave the stock a “buy” rating in a research report on Friday, October 25th. Roth Mkm upped their target price on shares of Snap-on from $324.00 to $365.00 and gave the stock a “buy” rating in a research report on Tuesday, October 22nd. Bank of America increased their price objective on shares of Snap-on from $255.00 to $280.00 and gave the company an “underperform” rating in a report on Friday, October 18th. Robert W. Baird increased their price objective on shares of Snap-on from $290.00 to $347.00 and gave the company a “neutral” rating in a research report on Friday, October 18th. Finally, Barrington Research upped their price target on shares of Snap-on from $325.00 to $350.00 and gave the company an “outperform” rating in a report on Thursday, October 17th. One analyst has rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, Snap-on presently has a consensus rating of “Hold” and a consensus price target of $345.40.

About Snap-on

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.