Snap-on Incorporated (NYSE:SNA) Shares Bought by Vision Capital Management Inc.

Vision Capital Management Inc. grew its position in shares of Snap-on Incorporated (NYSE:SNA) by 0.4% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 16,468 shares of the company’s stock after acquiring an additional 59 shares during the quarter. Vision Capital Management Inc.’s holdings in Snap-on were worth $5,591,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. UMB Bank n.a. boosted its position in shares of Snap-on by 70.5% in the fourth quarter. UMB Bank n.a. now owns 75 shares of the company’s stock worth $25,000 after buying an additional 31 shares during the period. Reston Wealth Management LLC purchased a new stake in shares of Snap-on in the third quarter worth about $30,000. Brooklyn Investment Group purchased a new stake in shares of Snap-on in the third quarter worth about $39,000. nVerses Capital LLC purchased a new stake in shares of Snap-on in the third quarter worth about $58,000. Finally, Private Trust Co. NA boosted its position in shares of Snap-on by 38.2% in the third quarter. Private Trust Co. NA now owns 217 shares of the company’s stock worth $63,000 after buying an additional 60 shares during the period. 84.88% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on SNA shares. Roth Mkm upped their target price on Snap-on from $324.00 to $365.00 and gave the stock a “buy” rating in a research report on Tuesday, October 22nd. Robert W. Baird increased their price target on Snap-on from $290.00 to $347.00 and gave the company a “neutral” rating in a report on Friday, October 18th. Bank of America increased their price target on Snap-on from $255.00 to $280.00 and gave the company an “underperform” rating in a report on Friday, October 18th. Tigress Financial increased their price target on Snap-on from $336.00 to $385.00 and gave the company a “buy” rating in a report on Friday, October 25th. Finally, Barrington Research reissued an “outperform” rating and issued a $360.00 price target on shares of Snap-on in a report on Monday. One analyst has rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $347.40.

Snap-on Trading Up 0.5 %

Shares of NYSE SNA opened at $357.61 on Thursday. The stock’s 50 day moving average price is $349.05 and its two-hundred day moving average price is $318.38. Snap-on Incorporated has a 52-week low of $252.98 and a 52-week high of $373.89. The stock has a market capitalization of $18.78 billion, a P/E ratio of 18.41, a PEG ratio of 2.23 and a beta of 0.99. The company has a quick ratio of 3.14, a current ratio of 4.18 and a debt-to-equity ratio of 0.22.

Snap-on Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Thursday, November 21st were paid a dividend of $2.14 per share. The ex-dividend date was Thursday, November 21st. This represents a $8.56 annualized dividend and a yield of 2.39%. This is a boost from Snap-on’s previous quarterly dividend of $1.86. Snap-on’s dividend payout ratio is presently 44.06%.

Insider Buying and Selling at Snap-on

In related news, 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 value of $1,270,010.00. Following the sale, the vice president now directly owns 2,289 shares in the company, valued at $830,586.54. This trade represents a 60.46 % decrease in their position. The transaction 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 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 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 approximately $273,126,134.54. This represents a 2.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 32,192 shares of company stock worth $11,400,978 over the last quarter. 4.10% of the stock is owned by corporate insiders.

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.