Eads & Heald Wealth Management Acquires 828 Shares of Snap-on Incorporated (NYSE:SNA)

Eads & Heald Wealth Management lifted its holdings in shares of Snap-on Incorporated (NYSE:SNA) by 16.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,784 shares of the company’s stock after purchasing an additional 828 shares during the period. Eads & Heald Wealth Management’s holdings in Snap-on were worth $1,964,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Nisa Investment Advisors LLC boosted its stake in Snap-on by 1.5% in the fourth quarter. Nisa Investment Advisors LLC now owns 7,787 shares of the company’s stock valued at $2,644,000 after acquiring an additional 112 shares during the last quarter. MCF Advisors LLC lifted its stake in Snap-on by 40.7% in the fourth quarter. MCF Advisors LLC now owns 1,304 shares of the company’s stock valued at $443,000 after purchasing an additional 377 shares during the last quarter. Planned Solutions Inc. grew its holdings in Snap-on by 5.6% during the fourth quarter. Planned Solutions Inc. now owns 950 shares of the company’s stock valued at $323,000 after purchasing an additional 50 shares during the period. Ballentine Partners LLC increased its position in Snap-on by 12.8% in the fourth quarter. Ballentine Partners LLC now owns 1,275 shares of the company’s stock worth $433,000 after buying an additional 145 shares during the last quarter. Finally, ZWJ Investment Counsel Inc. raised its stake in shares of Snap-on by 4.2% in the fourth quarter. ZWJ Investment Counsel Inc. now owns 1,791 shares of the company’s stock valued at $608,000 after buying an additional 73 shares during the period. 84.88% of the stock is owned by hedge funds and other institutional investors.

Snap-on Stock Up 1.7 %

SNA opened at $354.46 on Wednesday. The company has a market cap of $18.61 billion, a P/E ratio of 18.24, a P/E/G ratio of 2.19 and a beta of 1.00. Snap-on Incorporated has a 12 month low of $252.98 and a 12 month high of $373.89. The business’s 50-day moving average price is $350.93 and its 200-day moving average price is $312.09. The company has a current ratio of 4.18, a quick ratio of 3.14 and a debt-to-equity ratio of 0.22.

Snap-on Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Thursday, November 21st were given a $2.14 dividend. The ex-dividend date was Thursday, November 21st. This represents a $8.56 annualized dividend and a yield of 2.41%. This is an increase from Snap-on’s previous quarterly dividend of $1.86. Snap-on’s payout ratio is presently 44.06%.

Insider Buying and Selling at Snap-on

In related news, CFO Aldo John Pagliari sold 6,909 shares of the stock in a transaction dated Wednesday, December 18th. The shares were sold at an average price of $347.62, for a total value of $2,401,706.58. Following the completion of the transaction, the chief financial officer now directly owns 100,668 shares in the company, valued at $34,994,210.16. This trade represents a 6.42 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Nicholas T. Pinchuk sold 21,783 shares of the company’s stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $354.83, for a total transaction 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 approximately $273,126,134.54. This trade represents a 2.75 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 44,929 shares of company stock valued at $15,645,074 in the last quarter. Company insiders own 4.10% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently weighed in on SNA. Bank of America increased 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. Robert W. Baird raised their target price on Snap-on from $290.00 to $347.00 and gave the stock a “neutral” rating in a research note on Friday, October 18th. Barrington Research increased their price objective on Snap-on from $325.00 to $350.00 and gave the stock an “outperform” rating in a research report on Thursday, October 17th. Roth Mkm raised their price target on Snap-on from $324.00 to $365.00 and gave the company a “buy” rating in a report on Tuesday, October 22nd. Finally, Tigress Financial upped their price objective on shares of Snap-on from $336.00 to $385.00 and gave the stock a “buy” rating in a research report on Friday, October 25th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $345.40.

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.