Wilmington Savings Fund Society FSB Buys 1,377 Shares of Snap-on Incorporated (NYSE:SNA)

Wilmington Savings Fund Society FSB lifted its stake in shares of Snap-on Incorporated (NYSE:SNA) by 37.0% in the third quarter, according to its most recent filing with the SEC. The fund owned 5,097 shares of the company’s stock after acquiring an additional 1,377 shares during the period. Wilmington Savings Fund Society FSB’s holdings in Snap-on were worth $1,477,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in SNA. Asset Management One Co. Ltd. boosted its holdings in shares of Snap-on by 0.3% in the 3rd quarter. Asset Management One Co. Ltd. now owns 19,896 shares of the company’s stock worth $5,764,000 after purchasing an additional 67 shares in the last quarter. Strategic Financial Concepts LLC purchased a new stake in Snap-on in the second quarter worth approximately $3,653,000. Victory Capital Management Inc. grew its position in Snap-on by 21.5% during the third quarter. Victory Capital Management Inc. now owns 158,777 shares of the company’s stock valued at $45,999,000 after acquiring an additional 28,049 shares during the last quarter. Integrated Wealth Concepts LLC raised its stake in shares of Snap-on by 220.7% during the third quarter. Integrated Wealth Concepts LLC now owns 2,716 shares of the company’s stock worth $787,000 after acquiring an additional 1,869 shares in the last quarter. Finally, Empirical Finance LLC lifted its holdings in shares of Snap-on by 105.5% in the 2nd quarter. Empirical Finance LLC now owns 3,994 shares of the company’s stock worth $1,044,000 after acquiring an additional 2,050 shares during the last quarter. 84.88% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other Snap-on news, CEO Nicholas T. Pinchuk sold 21,783 shares of the stock in a transaction on Monday, December 9th. The stock was 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Iain Boyd sold 6,044 shares of the business’s stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $298.99, for a total transaction of $1,807,095.56. Following the sale, the vice president now owns 10,493 shares in the company, valued at approximately $3,137,302.07. This trade represents a 36.55 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 45,814 shares of company stock valued at $15,627,963. Corporate insiders own 4.10% of the company’s stock.

Analyst Upgrades and Downgrades

SNA has been the topic of a number of analyst reports. Tigress Financial lifted their target price on shares of Snap-on from $336.00 to $385.00 and gave the stock a “buy” rating in a research report on Friday, October 25th. Barrington Research lifted their price objective on Snap-on from $325.00 to $350.00 and gave the stock an “outperform” rating in a report on Thursday, October 17th. Bank of America increased their target price on 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 lifted their price target on Snap-on from $290.00 to $347.00 and gave the stock a “neutral” rating in a research note on Friday, October 18th. Finally, Roth Mkm increased 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. One analyst has rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, Snap-on currently has an average rating of “Hold” and an average price target of $345.40.

Snap-on Stock Down 0.1 %

Shares of NYSE:SNA opened at $355.11 on Friday. The stock’s 50-day moving average is $340.72 and its 200 day moving average is $297.21. The company has a market cap of $18.65 billion, a PE ratio of 18.28, a P/E/G ratio of 2.35 and a beta of 0.98. The company has a debt-to-equity ratio of 0.22, a current ratio of 4.18 and a quick ratio of 3.14. Snap-on Incorporated has a 1 year low of $252.98 and a 1 year high of $373.89.

Snap-on (NYSE:SNA) last announced its earnings results on Thursday, October 17th. The company reported $4.70 EPS for the quarter, beating analysts’ consensus estimates of $4.58 by $0.12. The company had revenue of $1.15 billion during the quarter, compared to the consensus estimate of $1.16 billion. Snap-on had a return on equity of 19.44% and a net margin of 22.13%. Sell-side analysts anticipate that Snap-on Incorporated will post 19.05 EPS for the current year.

Snap-on Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Thursday, November 21st were given a $2.14 dividend. This represents a $8.56 annualized dividend and a dividend yield of 2.41%. 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 dividend payout ratio (DPR) is currently 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.