TI Trust Inc. Invests $204,000 in Snap-on Incorporated (NYSE:SNA)

TI Trust Inc. acquired a new position in Snap-on Incorporated (NYSE:SNA) during the 4th quarter, according to its most recent filing with the SEC. The fund acquired 600 shares of the company’s stock, valued at approximately $204,000.

A number of other large investors have also recently added to or reduced their stakes in the business. Asset Management One Co. Ltd. lifted its position in shares of Snap-on by 0.3% in the third quarter. Asset Management One Co. Ltd. now owns 19,896 shares of the company’s stock valued at $5,764,000 after acquiring an additional 67 shares in the last quarter. Sanctuary Advisors LLC raised its stake in Snap-on by 3.6% in the 3rd quarter. Sanctuary Advisors LLC now owns 45,783 shares of the company’s stock valued at $13,264,000 after purchasing an additional 1,605 shares during the last quarter. World Investment Advisors LLC purchased a new position in Snap-on in the 3rd quarter valued at about $19,291,000. Avanza Fonder AB purchased a new position in Snap-on in the 4th quarter valued at about $1,936,000. Finally, Integrated Wealth Concepts LLC boosted its stake in shares of Snap-on by 220.7% during the 3rd quarter. Integrated Wealth Concepts LLC now owns 2,716 shares of the company’s stock worth $787,000 after purchasing an additional 1,869 shares during the last quarter. 84.88% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

Insider Buying and Selling

In related news, CFO Aldo John Pagliari sold 6,909 shares of the firm’s stock in a transaction 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 of the company’s stock, valued at approximately $34,994,210.16. This trade represents a 6.42 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Nicholas T. Pinchuk sold 21,783 shares of the stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $354.83, for a total value of $7,729,261.89. Following the transaction, the chief executive officer now owns 769,738 shares of the company’s stock, valued at approximately $273,126,134.54. This trade represents a 2.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 32,192 shares of company stock valued at $11,400,978. 4.10% of the stock is currently owned by corporate insiders.

Snap-on Trading Down 0.1 %

Shares of SNA opened at $350.33 on Monday. Snap-on Incorporated has a twelve month low of $252.98 and a twelve month high of $373.89. The firm has a market capitalization of $18.40 billion, a P/E ratio of 18.03, a price-to-earnings-growth ratio of 2.21 and a beta of 1.00. 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 stock’s fifty day simple moving average is $350.47 and its 200 day simple moving average is $314.05.

Snap-on Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Thursday, November 21st were issued a dividend of $2.14 per share. The ex-dividend date was Thursday, November 21st. This represents a $8.56 dividend on an annualized basis and a dividend yield of 2.44%. This is a boost from Snap-on’s previous quarterly dividend of $1.86. Snap-on’s payout ratio is presently 44.06%.

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.