Northeast Investment Management Buys Shares of 625 Snap-on Incorporated (NYSE:SNA)

Northeast Investment Management purchased a new stake in shares of Snap-on Incorporated (NYSE:SNA) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 625 shares of the company’s stock, valued at approximately $212,000.

A number of other institutional investors and hedge funds have also made changes to their positions in SNA. UMB Bank n.a. raised its position in Snap-on by 70.5% in the fourth quarter. UMB Bank n.a. now owns 75 shares of the company’s stock valued at $25,000 after purchasing an additional 31 shares during the period. Migdal Insurance & Financial Holdings Ltd. acquired a new position in Snap-on during the 4th quarter worth about $28,000. Reston Wealth Management LLC purchased a new position in Snap-on during the 3rd quarter valued at about $30,000. Brooklyn Investment Group purchased a new stake in Snap-on during the third quarter worth about $39,000. Finally, nVerses Capital LLC purchased a new stake in Snap-on during the third quarter worth about $58,000. 84.88% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the stock. Tigress Financial lifted their price objective on shares of Snap-on from $336.00 to $385.00 and gave the company a “buy” rating in a report on Friday, October 25th. Roth Mkm boosted their price target on shares of Snap-on from $324.00 to $365.00 and gave the stock a “buy” rating in a research note on Tuesday, October 22nd. Barrington Research reiterated an “outperform” rating and issued a $360.00 price objective on shares of Snap-on in a research note on Monday, February 3rd. 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. Finally, 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 note on Friday, October 18th. One 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 company. According to MarketBeat.com, Snap-on currently has a consensus rating of “Hold” and a consensus price target of $347.40.

Insider Activity

In other Snap-on news, CEO Nicholas T. Pinchuk sold 21,783 shares of the company’s stock in a transaction dated 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 completion of the transaction, the chief executive officer now owns 769,738 shares in the company, valued at approximately $273,126,134.54. This represents a 2.75 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Aldo John Pagliari sold 6,909 shares of the stock in a transaction on 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 transaction, the chief financial officer now directly owns 100,668 shares of the company’s stock, valued at approximately $34,994,210.16. The trade was a 6.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 32,192 shares of company stock worth $11,400,978. 4.10% of the stock is currently owned by insiders.

Snap-on Stock Down 0.5 %

SNA stock opened at $338.05 on Friday. Snap-on Incorporated has a 12 month low of $252.98 and a 12 month high of $373.89. The company’s 50 day simple moving average is $347.82 and its 200-day simple moving average is $318.97. The company has a debt-to-equity ratio of 0.22, a current ratio of 4.15 and a quick ratio of 3.14. The firm has a market capitalization of $17.75 billion, a PE ratio of 17.34, a P/E/G ratio of 2.13 and a beta of 0.99.

Snap-on (NYSE:SNA) last announced its quarterly earnings results on Thursday, February 6th. The company reported $4.82 earnings per share for the quarter, topping analysts’ consensus estimates of $4.78 by $0.04. Snap-on had a net margin of 21.71% and a return on equity of 19.20%. During the same quarter in the previous year, the business posted $4.75 earnings per share. Equities analysts expect that Snap-on Incorporated will post 20.07 earnings per share for the current fiscal year.

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.