GSB Wealth Management LLC Has $3.03 Million Stock Holdings in Snap-on Incorporated (NYSE:SNA)

GSB Wealth Management LLC raised its stake in Snap-on Incorporated (NYSE:SNA) by 0.5% during the 4th quarter, Holdings Channel reports. The institutional investor owned 8,937 shares of the company’s stock after purchasing an additional 47 shares during the quarter. GSB Wealth Management LLC’s holdings in Snap-on were worth $3,034,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the stock. State Street Corp increased its stake in Snap-on by 0.5% in the 3rd quarter. State Street Corp now owns 2,115,973 shares of the company’s stock valued at $613,019,000 after buying an additional 10,645 shares during the period. Charles Schwab Investment Management Inc. increased its stake in Snap-on by 3.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,728,792 shares of the company’s stock valued at $500,848,000 after buying an additional 56,266 shares during the period. Geode Capital Management LLC increased its stake in Snap-on by 4.5% in the 3rd quarter. Geode Capital Management LLC now owns 1,613,459 shares of the company’s stock valued at $466,199,000 after buying an additional 69,590 shares during the period. Nordea Investment Management AB increased its stake in Snap-on by 12.8% in the 4th quarter. Nordea Investment Management AB now owns 1,128,317 shares of the company’s stock valued at $384,813,000 after buying an additional 127,859 shares during the period. Finally, Pacer Advisors Inc. grew its position in Snap-on by 9.4% in the third quarter. Pacer Advisors Inc. now owns 907,655 shares of the company’s stock worth $262,957,000 after acquiring an additional 78,184 shares in the last quarter. Institutional investors and hedge funds own 84.88% of the company’s stock.

Snap-on Price Performance

Snap-on stock opened at $350.33 on Friday. The company has a debt-to-equity ratio of 0.22, a quick ratio of 3.14 and a current ratio of 4.18. The firm has a market cap of $18.40 billion, a P/E ratio of 18.03, a P/E/G ratio of 2.21 and a beta of 1.00. The business’s fifty day moving average is $350.47 and its two-hundred day moving average is $313.28. Snap-on Incorporated has a 52 week low of $252.98 and a 52 week high of $373.89.

Snap-on Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Thursday, November 21st were paid a dividend of $2.14 per share. This represents a $8.56 annualized dividend and a dividend yield of 2.44%. The ex-dividend date of this dividend was Thursday, November 21st. This is a positive change from Snap-on’s previous quarterly dividend of $1.86. Snap-on’s dividend payout ratio is 44.06%.

Insider Activity

In other news, CFO Aldo John Pagliari sold 6,909 shares of the company’s stock in a transaction dated Wednesday, December 18th. The stock was sold at an average price of $347.62, for a total transaction of $2,401,706.58. Following the completion of the transaction, the chief financial officer now directly owns 100,668 shares of the company’s stock, valued at $34,994,210.16. This represents a 6.42 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Thomas J. Ward sold 12,737 shares of the company’s stock in a transaction dated Monday, October 28th. The stock was 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 of the company’s stock, valued at $18,460,167.21. This represents a 18.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 44,929 shares of company stock valued at $15,645,074 over the last 90 days. 4.10% of the stock is owned by company insiders.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. Robert W. Baird lifted their price objective on shares of Snap-on from $290.00 to $347.00 and gave the company a “neutral” rating in a research note on Friday, October 18th. Roth Mkm boosted their price target on Snap-on from $324.00 to $365.00 and gave the stock a “buy” rating in a research report on Tuesday, October 22nd. Bank of America increased their price objective on Snap-on from $255.00 to $280.00 and gave the company an “underperform” rating in a report on Friday, October 18th. Barrington Research raised their price objective on Snap-on from $325.00 to $350.00 and gave the company an “outperform” rating in a research note on Thursday, October 17th. 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 research note on Friday, October 25th. One investment 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. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $345.40.

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.