Snap-on Incorporated (NYSE:SNA) Shares Bought by Burney Co.

Burney Co. lifted its position in shares of Snap-on Incorporated (NYSE:SNA) by 0.8% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 28,186 shares of the company’s stock after purchasing an additional 210 shares during the quarter. Burney Co. owned 0.05% of Snap-on worth $9,569,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Reston Wealth Management LLC purchased a new position in shares of Snap-on in the 3rd quarter valued at about $30,000. Massmutual Trust Co. FSB ADV grew its holdings in Snap-on by 53.0% in 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 during the period. Brooklyn Investment Group purchased a new stake in shares of Snap-on in the third quarter valued at approximately $39,000. Quarry LP raised its stake in shares of Snap-on by 244.7% during the 2nd quarter. Quarry LP now owns 162 shares of the company’s stock worth $42,000 after buying an additional 115 shares during the period. Finally, nVerses Capital LLC purchased a new position in shares of Snap-on during the 3rd quarter valued at approximately $58,000. Institutional investors and hedge funds own 84.88% of the company’s stock.

Snap-on Trading Up 1.4 %

Shares of Snap-on stock opened at $345.02 on Wednesday. The company has a debt-to-equity ratio of 0.22, a current ratio of 4.18 and a quick ratio of 3.14. The stock’s 50 day simple moving average is $351.87 and its 200-day simple moving average is $308.86. The stock has a market cap of $18.12 billion, a P/E ratio of 17.76, a P/E/G ratio of 2.35 and a beta of 1.00. Snap-on Incorporated has a 1-year low of $252.98 and a 1-year high of $373.89.

Snap-on (NYSE:SNA) last released its quarterly earnings data 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. The company had revenue of $1.15 billion for the quarter, compared to analyst estimates of $1.16 billion. Snap-on had a return on equity of 19.44% and a net margin of 22.13%. Analysts predict that Snap-on Incorporated will post 19.05 EPS for the current fiscal 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. The ex-dividend date of this dividend was Thursday, November 21st. This represents a $8.56 dividend on an annualized basis and a dividend yield of 2.48%. This is a positive change from Snap-on’s previous quarterly dividend of $1.86. Snap-on’s dividend payout ratio is currently 44.06%.

Analyst Ratings Changes

SNA has been the topic of several recent analyst reports. Robert W. Baird increased their price objective on shares of Snap-on from $290.00 to $347.00 and gave the company a “neutral” rating in a report on Friday, October 18th. Barrington Research raised their price target 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 boosted their price objective on Snap-on from $324.00 to $365.00 and gave the stock a “buy” rating in a research note on Tuesday, October 22nd. Bank of America lifted 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 raised their price objective on Snap-on from $336.00 to $385.00 and gave the company a “buy” rating in a report on Friday, October 25th. One analyst has rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $345.40.

Insider Buying and Selling

In related news, VP Richard Thomas Miller sold 1,750 shares of the stock in a transaction that occurred on Friday, October 18th. The stock was sold at an average price of $330.00, for a total value of $577,500.00. Following the completion of the transaction, the vice president now directly owns 3,218 shares in the company, valued at approximately $1,061,940. This represents a 35.23 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Nicholas T. Pinchuk sold 21,783 shares of Snap-on stock in a transaction 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 completion of the sale, the chief executive officer now owns 769,738 shares in the company, valued at $273,126,134.54. This represents a 2.75 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 46,679 shares of company stock worth $16,222,574. Insiders own 4.10% of the company’s stock.

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.