Signature Wealth Management Group Buys 39 Shares of Snap-on Incorporated (NYSE:SNA)

Signature Wealth Management Group grew its stake in shares of Snap-on Incorporated (NYSE:SNA) by 0.9% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 4,307 shares of the company’s stock after acquiring an additional 39 shares during the quarter. Signature Wealth Management Group’s holdings in Snap-on were worth $1,462,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the stock. UMB Bank n.a. raised its holdings in shares of Snap-on by 70.5% during the 4th quarter. UMB Bank n.a. now owns 75 shares of the company’s stock worth $25,000 after buying an additional 31 shares in the last quarter. SBI Securities Co. Ltd. acquired a new position in shares of Snap-on during the 4th quarter worth $26,000. Migdal Insurance & Financial Holdings Ltd. acquired a new position in shares of Snap-on during the 4th quarter worth $28,000. Brooklyn Investment Group acquired a new position in Snap-on in the 3rd quarter worth about $39,000. Finally, Asset Planning Inc acquired a new position in Snap-on in the 4th quarter worth about $68,000. 84.88% of the stock is currently owned by institutional investors.

Snap-on Stock Up 2.4 %

Shares of Snap-on stock opened at $331.93 on Friday. Snap-on Incorporated has a one year low of $252.98 and a one year high of $373.90. The company has a debt-to-equity ratio of 0.22, a current ratio of 4.15 and a quick ratio of 3.17. The stock’s 50-day moving average is $341.51 and its 200 day moving average is $329.73. The firm has a market cap of $17.39 billion, a price-to-earnings ratio of 17.02, a PEG ratio of 2.21 and a beta of 0.99.

Snap-on (NYSE:SNA) last announced its earnings results on Thursday, February 6th. The company reported $4.82 EPS for the quarter, beating the consensus estimate of $4.78 by $0.04. Snap-on had a return on equity of 19.20% and a net margin of 21.71%. During the same quarter last year, the business posted $4.75 EPS. Equities research analysts anticipate that Snap-on Incorporated will post 19.79 EPS for the current year.

Snap-on Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Monday, February 24th were issued a $2.14 dividend. The ex-dividend date was Monday, February 24th. This represents a $8.56 annualized dividend and a yield of 2.58%. Snap-on’s payout ratio is currently 43.90%.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. Barrington Research reaffirmed an “outperform” rating and issued a $350.00 target price on shares of Snap-on in a report on Monday, February 10th. Tigress Financial upped their price target on Snap-on from $385.00 to $390.00 and gave the company a “buy” rating in a research report on Tuesday, March 4th. 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 company. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $346.40.

Insiders Place Their Bets

In other news, CFO Aldo John Pagliari sold 6,909 shares of the stock in a transaction that occurred on Wednesday, December 18th. The stock was sold at an average price of $347.62, for a total value of $2,401,706.58. Following the completion of the sale, 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 sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Jesus Arregui sold 6,451 shares of the stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $337.81, for a total value of $2,179,212.31. Following the completion of the sale, the senior vice president now directly owns 257 shares of the company’s stock, valued at approximately $86,817.17. This trade represents a 96.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 20,220 shares of company stock worth $6,906,802. Corporate insiders own 4.10% of the company’s stock.

Snap-on Company 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.