Twin Capital Management Inc. Purchases 129 Shares of Snap-on Incorporated (NYSE:SNA)

Twin Capital Management Inc. raised its holdings in shares of Snap-on Incorporated (NYSE:SNA) by 0.9% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 14,696 shares of the company’s stock after purchasing an additional 129 shares during the quarter. Twin Capital Management Inc.’s holdings in Snap-on were worth $4,989,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of the business. UMB Bank n.a. raised its holdings in shares of Snap-on by 70.5% in the 4th quarter. UMB Bank n.a. now owns 75 shares of the company’s stock worth $25,000 after acquiring an additional 31 shares during the last quarter. SBI Securities Co. Ltd. purchased a new stake in shares of Snap-on in the fourth quarter worth approximately $26,000. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in shares of Snap-on in the fourth quarter worth approximately $28,000. CoreFirst Bank & Trust purchased a new position in shares of Snap-on during the fourth quarter valued at approximately $40,000. Finally, TCTC Holdings LLC grew its holdings in Snap-on by 41.3% during the fourth quarter. TCTC Holdings LLC now owns 147 shares of the company’s stock worth $50,000 after buying an additional 43 shares in the last quarter. Institutional investors and hedge funds own 84.88% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently issued reports on the stock. Tigress Financial upped their target price on shares of Snap-on from $385.00 to $390.00 and gave the stock a “buy” rating in a research note on Tuesday, March 4th. 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. Finally, Longbow Research upgraded Snap-on from a “neutral” rating to a “buy” rating and set a $400.00 price target on the stock in a report on Monday, March 31st. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, Snap-on has an average rating of “Moderate Buy” and a consensus price target of $355.33.

Insiders Place Their Bets

In other Snap-on news, SVP Jesus Arregui sold 6,451 shares of the stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $337.81, for a total value of $2,179,212.31. Following the sale, the senior vice president now directly owns 257 shares in the company, valued at $86,817.17. This represents a 96.17 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Nicholas T. Pinchuk sold 22,700 shares of the firm’s stock in a transaction on Thursday, March 27th. The shares were sold at an average price of $335.32, for a total transaction of $7,611,764.00. Following the completion of the transaction, the chief executive officer now directly owns 793,932 shares of the company’s stock, valued at approximately $266,221,278.24. The trade was a 2.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 36,011 shares of company stock worth $12,116,859 in the last quarter. 3.90% of the stock is owned by company insiders.

Snap-on Price Performance

SNA opened at $314.98 on Monday. The firm has a 50-day moving average price of $338.24 and a 200-day moving average price of $335.75. Snap-on Incorporated has a twelve month low of $252.98 and a twelve month high of $373.90. 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 $16.51 billion, a price-to-earnings ratio of 16.15, a PEG ratio of 2.21 and a beta of 0.84.

Snap-on (NYSE:SNA) last issued its earnings results on Thursday, February 6th. The company reported $4.82 earnings per share (EPS) for the quarter, beating 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 quarter in the previous year, the business posted $4.75 EPS. Equities analysts expect that Snap-on Incorporated will post 19.79 EPS for the current year.

Snap-on Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Monday, February 24th were issued a dividend of $2.14 per share. The ex-dividend date of this dividend was Monday, February 24th. This represents a $8.56 dividend on an annualized basis and a yield of 2.72%. Snap-on’s dividend payout ratio (DPR) is 43.90%.

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.