Golden State Equity Partners Boosts Stake in Snap-on Incorporated (NYSE:SNA)

Golden State Equity Partners lifted its holdings in Snap-on Incorporated (NYSE:SNA) by 17.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,735 shares of the company’s stock after buying an additional 259 shares during the quarter. Golden State Equity Partners’ holdings in Snap-on were worth $589,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the business. Journey Strategic Wealth LLC purchased a new stake in shares of Snap-on in the fourth quarter valued at approximately $400,000. Sylvest Advisors LLC purchased a new stake in Snap-on during the fourth quarter worth $609,000. Tokio Marine Asset Management Co. Ltd. boosted its position in Snap-on by 4.5% during the fourth quarter. Tokio Marine Asset Management Co. Ltd. now owns 1,393 shares of the company’s stock worth $473,000 after purchasing an additional 60 shares in the last quarter. Caprock Group LLC boosted its position in Snap-on by 40.9% during the fourth quarter. Caprock Group LLC now owns 1,381 shares of the company’s stock worth $469,000 after purchasing an additional 401 shares in the last quarter. Finally, Ibex Wealth Advisors purchased a new stake in Snap-on during the fourth quarter worth $300,000. 84.88% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts have commented on the company. Bank of America boosted their target price on Snap-on from $255.00 to $280.00 and gave the stock an “underperform” rating in a research report on Friday, October 18th. Barrington Research boosted their target price on Snap-on from $325.00 to $350.00 and gave the stock an “outperform” rating in a research report on Thursday, October 17th. Robert W. Baird boosted their target price on Snap-on from $290.00 to $347.00 and gave the stock a “neutral” rating in a research report on Friday, October 18th. Tigress Financial boosted their target price on Snap-on from $336.00 to $385.00 and gave the stock a “buy” rating in a research report on Friday, October 25th. Finally, Roth Mkm boosted 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. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $345.40.

Insider Activity

In related news, CFO Aldo John Pagliari sold 6,909 shares of the company’s stock in a transaction 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 transaction, the chief financial officer now directly owns 100,668 shares in the company, valued at approximately $34,994,210.16. This represents a 6.42 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, VP June C. Lemerand sold 3,500 shares of the company’s stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $362.86, for a total value of $1,270,010.00. Following the completion of the transaction, the vice president now owns 2,289 shares of the company’s stock, valued at $830,586.54. The trade was a 60.46 % 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 three months. 4.10% of the stock is currently owned by corporate insiders.

Snap-on Stock Down 1.0 %

Shares of NYSE:SNA opened at $355.10 on Monday. 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 Incorporated has a 52-week low of $252.98 and a 52-week high of $373.89. The stock’s fifty day simple moving average is $349.97 and its 200-day simple moving average is $316.93. The company has a market capitalization of $18.65 billion, a P/E ratio of 18.28, a P/E/G ratio of 2.23 and a beta of 0.99.

Snap-on Increases Dividend

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

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.