Joule Financial LLC Makes New Investment in Snap-on Incorporated (NYSE:SNA)

Joule Financial LLC bought a new position in shares of Snap-on Incorporated (NYSE:SNA) in the fourth quarter, according to the company in its most recent filing with the SEC. The fund bought 596 shares of the company’s stock, valued at approximately $202,000.

Other institutional investors have also modified their holdings of the company. Reston Wealth Management LLC acquired a new position in shares of Snap-on during the third quarter worth about $30,000. Massmutual Trust Co. FSB ADV lifted its position in Snap-on by 53.0% during the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 127 shares of the company’s stock worth $37,000 after acquiring an additional 44 shares in the last quarter. Brooklyn Investment Group purchased a new position in Snap-on in the 3rd quarter worth approximately $39,000. Quarry LP grew its position in Snap-on by 244.7% in the second quarter. Quarry LP now owns 162 shares of the company’s stock valued at $42,000 after acquiring an additional 115 shares in the last quarter. Finally, nVerses Capital LLC acquired a new position in shares of Snap-on during the third quarter worth $58,000. Hedge funds and other institutional investors own 84.88% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on SNA shares. Bank of America lifted their price target on shares of 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 lifted their price objective on Snap-on from $324.00 to $365.00 and gave the stock a “buy” rating in a report on Tuesday, October 22nd. Tigress Financial increased their target price on Snap-on from $336.00 to $385.00 and gave the company a “buy” rating in a research note on Friday, October 25th. Robert W. Baird lifted their price target on shares of Snap-on from $290.00 to $347.00 and gave the stock a “neutral” rating in a research note 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 research analyst has rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, Snap-on has a consensus rating of “Hold” and a consensus price target of $345.40.

Insiders Place Their Bets

In other news, VP June C. Lemerand sold 3,500 shares of the stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $362.86, for a total value of $1,270,010.00. Following the completion of the transaction, the vice president now owns 2,289 shares of the company’s stock, valued at approximately $830,586.54. This represents a 60.46 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, SVP Thomas J. Ward sold 12,737 shares of the firm’s stock in a transaction on Monday, October 28th. The shares were sold at an average price of $333.21, for a total value of $4,244,095.77. Following the transaction, the senior vice president now directly owns 55,401 shares in the company, valued at $18,460,167.21. This trade represents a 18.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 44,929 shares of company stock worth $15,645,074. Insiders own 4.10% of the company’s stock.

Snap-on Stock Performance

Shares of SNA opened at $348.17 on Friday. 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 12-month low of $252.98 and a 12-month high of $373.89. The business’s fifty day moving average price is $351.33 and its 200 day moving average price is $310.37. The stock has a market capitalization of $18.28 billion, a PE ratio of 17.92, a price-to-earnings-growth ratio of 2.09 and a beta of 1.00.

Snap-on (NYSE:SNA) last announced its quarterly earnings results 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 return on equity of 19.44% and a net margin of 22.13%. The business had revenue of $1.15 billion for the quarter, compared to analysts’ expectations of $1.16 billion. Equities research analysts forecast that Snap-on Incorporated will post 19.05 EPS for the current year.

Snap-on Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Investors of record on Thursday, November 21st were issued a $2.14 dividend. This represents a $8.56 dividend on an annualized basis and a dividend yield of 2.46%. The ex-dividend date of this dividend was Thursday, November 21st. This is a boost from Snap-on’s previous quarterly dividend of $1.86. Snap-on’s dividend payout ratio (DPR) is 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.