Gitterman Wealth Management LLC Makes New Investment in Snap-on Incorporated (NYSE:SNA)

Gitterman Wealth Management LLC acquired a new position in shares of Snap-on Incorporated (NYSE:SNA) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 666 shares of the company’s stock, valued at approximately $227,000.

Several other large investors have also recently added to or reduced their stakes in the company. Envestnet Portfolio Solutions Inc. grew its stake in Snap-on by 0.3% during the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 65,095 shares of the company’s stock worth $22,098,000 after buying an additional 166 shares during the last quarter. Natixis Advisors LLC grew its stake in shares of Snap-on by 9.1% during the fourth quarter. Natixis Advisors LLC now owns 72,479 shares of the company’s stock valued at $24,605,000 after purchasing an additional 6,041 shares during the last quarter. Catalyst Funds Management Pty Ltd bought a new stake in shares of Snap-on during the fourth quarter valued at approximately $339,000. Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of Snap-on during the fourth quarter valued at approximately $1,068,000. Finally, EverSource Wealth Advisors LLC grew its stake in shares of Snap-on by 53.7% during the fourth quarter. EverSource Wealth Advisors LLC now owns 229 shares of the company’s stock valued at $78,000 after purchasing an additional 80 shares during the last quarter. 84.88% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Snap-on news, SVP Jesus Arregui sold 6,451 shares of the stock in a transaction 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 approximately $86,817.17. This trade represents a 96.17 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Aldo John Pagliari sold 6,860 shares of the firm’s stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $339.05, for a total transaction of $2,325,883.00. Following the sale, the chief financial officer now owns 107,096 shares in the company, valued at approximately $36,310,898.80. The trade was a 6.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 20,220 shares of company stock worth $6,906,802. Company insiders own 4.10% of the company’s stock.

Snap-on Trading Up 2.4 %

Shares of NYSE SNA opened at $331.93 on Friday. The company’s 50 day simple moving average is $341.51 and its 200 day simple moving average is $329.73. Snap-on Incorporated has a fifty-two week low of $252.98 and a fifty-two week high of $373.90. The firm has a market capitalization of $17.39 billion, a P/E ratio of 17.02, a P/E/G ratio of 2.21 and a beta of 0.99. The company has a debt-to-equity ratio of 0.22, a current ratio of 4.15 and a quick ratio of 3.17.

Snap-on (NYSE:SNA) last announced its quarterly earnings data on Thursday, February 6th. The company reported $4.82 earnings per share for the quarter, beating the consensus estimate 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 period last year, the company earned $4.75 EPS. On average, analysts predict that Snap-on Incorporated will post 19.79 EPS for the current year.

Snap-on Dividend Announcement

The company also recently announced 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 dividend payout ratio (DPR) is presently 43.90%.

Analyst Ratings Changes

Several analysts have recently commented on the stock. Barrington Research reissued an “outperform” rating and set a $350.00 price target on shares of Snap-on in a research note on Monday, February 10th. Tigress Financial increased their price target on shares of Snap-on from $385.00 to $390.00 and gave the company a “buy” rating in a research note on Tuesday, March 4th. 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 data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $346.40.

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.