Snap-on Incorporated (NYSE:SNA) Shares Acquired by Pinnacle Financial Partners Inc

Pinnacle Financial Partners Inc grew its holdings in Snap-on Incorporated (NYSE:SNA) by 0.6% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 50,037 shares of the company’s stock after buying an additional 304 shares during the period. Pinnacle Financial Partners Inc owned 0.10% of Snap-on worth $16,987,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Bleakley Financial Group LLC acquired a new stake in Snap-on during the fourth quarter worth about $512,000. Vest Financial LLC boosted its stake in Snap-on by 2.4% during the fourth quarter. Vest Financial LLC now owns 102,987 shares of the company’s stock worth $34,962,000 after buying an additional 2,460 shares during the period. Asset Management One Co. Ltd. boosted its stake in Snap-on by 0.3% during the third quarter. Asset Management One Co. Ltd. now owns 19,896 shares of the company’s stock worth $5,764,000 after buying an additional 67 shares during the period. Sanctuary Advisors LLC boosted its stake in Snap-on by 3.6% during the third quarter. Sanctuary Advisors LLC now owns 45,783 shares of the company’s stock worth $13,264,000 after buying an additional 1,605 shares during the period. Finally, World Investment Advisors LLC purchased a new position in Snap-on during the third quarter worth about $19,291,000. 84.88% of the stock is currently owned by institutional investors and hedge funds.

Snap-on Stock Down 0.8 %

Shares of Snap-on stock opened at $335.87 on Friday. Snap-on Incorporated has a 52-week low of $252.98 and a 52-week high of $373.89. The company has a 50 day moving average of $343.79 and a 200 day moving average of $323.21. The company has a quick ratio of 3.17, a current ratio of 4.15 and a debt-to-equity ratio of 0.22. The company has a market capitalization of $17.60 billion, a P/E ratio of 17.22, a P/E/G ratio of 2.21 and a beta of 0.99.

Snap-on (NYSE:SNA) last issued its quarterly earnings results on Thursday, February 6th. The company reported $4.82 earnings per share (EPS) 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 period in the prior year, the company earned $4.75 earnings per share. As a group, research analysts forecast that Snap-on Incorporated will post 19.79 EPS for the current fiscal year.

Snap-on Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Monday, February 24th will be issued a dividend of $2.14 per share. The ex-dividend date is Monday, February 24th. This represents a $8.56 dividend on an annualized basis and a yield of 2.55%. Snap-on’s payout ratio is currently 43.90%.

Insiders Place Their Bets

In other Snap-on news, CEO Nicholas T. Pinchuk sold 21,783 shares of the firm’s stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $354.83, for a total transaction of $7,729,261.89. Following the sale, the chief executive officer now owns 769,738 shares of the company’s stock, valued at approximately $273,126,134.54. This trade 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 June C. Lemerand sold 3,500 shares of the firm’s stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $362.86, for a total transaction of $1,270,010.00. Following the sale, the vice president now directly owns 2,289 shares in the company, valued at approximately $830,586.54. The trade was a 60.46 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 45,503 shares of company stock valued at $15,906,074. 4.10% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

SNA has been the subject of several recent research reports. Barrington Research reissued an “outperform” rating and issued a $350.00 price objective on shares of Snap-on in a research note on Monday, February 10th. Tigress Financial raised their price objective on shares of Snap-on from $336.00 to $385.00 and gave the company a “buy” rating in a research note 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 stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price 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.