Janney Montgomery Scott LLC lifted its stake in Snap-on Incorporated (NYSE:SNA – Free Report) by 0.8% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 24,511 shares of the company’s stock after purchasing an additional 199 shares during the quarter. Janney Montgomery Scott LLC’s holdings in Snap-on were worth $6,052,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds and other institutional investors have also modified their holdings of SNA. Parkside Financial Bank & Trust boosted its position in shares of Snap-on by 57.3% in the 1st quarter. Parkside Financial Bank & Trust now owns 129 shares of the company’s stock valued at $27,000 after purchasing an additional 47 shares during the period. Ridgewood Investments LLC acquired a new stake in Snap-on during the 1st quarter worth about $29,000. Mitsubishi UFJ Morgan Stanley Securities Co. Ltd. acquired a new stake in Snap-on during the 4th quarter worth about $32,000. Private Trust Co. NA boosted its position in Snap-on by 183.6% during the 1st quarter. Private Trust Co. NA now owns 156 shares of the company’s stock worth $39,000 after acquiring an additional 101 shares during the period. Finally, Brown Brothers Harriman & Co. boosted its position in Snap-on by 7,566.7% during the 1st quarter. Brown Brothers Harriman & Co. now owns 230 shares of the company’s stock worth $47,000 after acquiring an additional 227 shares during the period. Institutional investors and hedge funds own 92.45% of the company’s stock.
Snap-on Stock Up 1.0 %
Shares of SNA stock opened at $275.55 on Friday. The stock’s 50 day simple moving average is $272.72 and its 200 day simple moving average is $255.44. The company has a debt-to-equity ratio of 0.25, a quick ratio of 2.43 and a current ratio of 3.67. Snap-on Incorporated has a twelve month low of $200.75 and a twelve month high of $297.26. The company has a market capitalization of $14.58 billion, a price-to-earnings ratio of 15.27, a PEG ratio of 1.95 and a beta of 1.12.
Snap-on Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Friday, June 9th. Shareholders of record on Friday, May 19th were given a $1.62 dividend. This represents a $6.48 annualized dividend and a yield of 2.35%. The ex-dividend date was Thursday, May 18th. Snap-on’s dividend payout ratio is currently 35.90%.
Analyst Upgrades and Downgrades
A number of equities research analysts have commented on the company. Longbow Research upgraded Snap-on from an “underperform” rating to a “neutral” rating in a research report on Friday, April 21st. Roth Mkm raised their price objective on Snap-on from $298.00 to $324.00 and gave the stock a “buy” rating in a research report on Monday, July 17th. Barrington Research raised their price objective on Snap-on from $280.00 to $325.00 in a research report on Friday, July 14th. Robert W. Baird raised their price target on Snap-on from $270.00 to $305.00 and gave the stock a “neutral” rating in a research note on Friday. Finally, Tigress Financial raised their price target on Snap-on from $302.00 to $328.00 in a research note on Wednesday, June 21st. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $296.83.
Insiders Place Their Bets
In other Snap-on news, SVP Anup R. Banerjee sold 29,750 shares of Snap-on stock in a transaction that occurred on Monday, April 24th. The stock was sold at an average price of $259.55, for a total value of $7,721,612.50. Following the transaction, the senior vice president now directly owns 5,994 shares of the company’s stock, valued at approximately $1,555,742.70. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other news, SVP Anup R. Banerjee sold 29,750 shares of Snap-on stock in a transaction that occurred on Monday, April 24th. The stock was sold at an average price of $259.55, for a total transaction of $7,721,612.50. Following the sale, the senior vice president now owns 5,994 shares of the company’s stock, valued at approximately $1,555,742.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Nicholas T. Pinchuk sold 22,348 shares of Snap-on stock in a transaction that occurred on Thursday, June 1st. The stock was sold at an average price of $249.48, for a total value of $5,575,379.04. Following the sale, the chief executive officer now directly owns 687,081 shares in the company, valued at approximately $171,412,967.88. The disclosure for this sale can be found here. Insiders have sold a total of 89,282 shares of company stock valued at $23,784,577 in the last three months. Company insiders own 4.20% of the company’s stock.
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.
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