Vantage Point Financial LLC Purchases New Stake in Snap-on Incorporated (NYSE:SNA)

Vantage Point Financial LLC acquired a new position in shares of 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 (SEC). The institutional investor acquired 685 shares of the company’s stock, valued at approximately $233,000.

A number of other large investors have also recently made changes to their positions in the business. UMB Bank n.a. grew its holdings in Snap-on by 70.5% during the fourth quarter. UMB Bank n.a. now owns 75 shares of the company’s stock worth $25,000 after buying an additional 31 shares in the last quarter. Reston Wealth Management LLC purchased a new stake in shares of Snap-on in the third quarter valued at about $30,000. Massmutual Trust Co. FSB ADV lifted its position in shares of Snap-on by 53.0% during the third quarter. Massmutual Trust Co. FSB ADV now owns 127 shares of the company’s stock valued at $37,000 after purchasing an additional 44 shares in the last quarter. Brooklyn Investment Group bought a new stake in Snap-on in the 3rd quarter worth about $39,000. Finally, nVerses Capital LLC bought a new stake in Snap-on in the 3rd quarter worth about $58,000. 84.88% of the stock is owned by institutional investors.

Snap-on Stock Down 0.9 %

SNA stock opened at $351.98 on Tuesday. Snap-on Incorporated has a fifty-two week low of $252.98 and a fifty-two week high of $373.89. The stock has a fifty day moving average of $349.59 and a 200-day moving average of $317.51. The company has a market capitalization of $18.48 billion, a price-to-earnings ratio of 18.12, a PEG ratio of 2.23 and a beta of 0.99. 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 Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Thursday, November 21st were paid a $2.14 dividend. This is an increase from Snap-on’s previous quarterly dividend of $1.86. The ex-dividend date was Thursday, November 21st. This represents a $8.56 annualized dividend and a dividend yield of 2.43%. Snap-on’s dividend payout ratio (DPR) is presently 44.06%.

Insider Activity

In other news, CFO Aldo John Pagliari sold 6,909 shares of the stock in a transaction dated Wednesday, December 18th. The shares were sold at an average price of $347.62, for a total value of $2,401,706.58. Following 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 represents a 6.42 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Nicholas T. Pinchuk sold 21,783 shares of the firm’s stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $354.83, for a total transaction of $7,729,261.89. Following the completion of the transaction, the chief executive officer now owns 769,738 shares of the company’s stock, valued at $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. Insiders have sold a total of 32,192 shares of company stock valued at $11,400,978 over the last quarter. Company insiders own 4.10% of the company’s stock.

Analyst Upgrades and Downgrades

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