Riverbridge Partners LLC Has $2.88 Million Stock Holdings in Snap-on Incorporated (NYSE:SNA)

Riverbridge Partners LLC decreased its holdings in shares of Snap-on Incorporated (NYSE:SNA) by 8.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 8,489 shares of the company’s stock after selling 788 shares during the quarter. Riverbridge Partners LLC’s holdings in Snap-on were worth $2,882,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of SNA. UMB Bank n.a. increased its position in Snap-on by 70.5% during 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 last quarter. Reston Wealth Management LLC acquired a new stake in Snap-on in the 3rd quarter worth approximately $30,000. Massmutual Trust Co. FSB ADV grew its holdings in Snap-on by 53.0% during the third quarter. Massmutual Trust Co. FSB ADV now owns 127 shares of the company’s stock valued at $37,000 after purchasing an additional 44 shares during the last quarter. Brooklyn Investment Group bought a new position in shares of Snap-on in the third quarter valued at approximately $39,000. Finally, Quarry LP lifted its stake in shares of Snap-on by 244.7% in the second quarter. Quarry LP now owns 162 shares of the company’s stock worth $42,000 after buying an additional 115 shares during the last quarter. Institutional investors and hedge funds own 84.88% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. Bank of America boosted their target price on shares of 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 increased their target price on Snap-on from $325.00 to $350.00 and gave the company an “outperform” rating in a research note on Thursday, October 17th. Roth Mkm lifted their price target on Snap-on from $324.00 to $365.00 and gave the stock a “buy” rating in a research report on Tuesday, October 22nd. Tigress Financial increased their price objective on Snap-on from $336.00 to $385.00 and gave the company a “buy” rating in a research report on Friday, October 25th. Finally, Robert W. Baird boosted their target price on shares of Snap-on from $290.00 to $347.00 and gave the stock a “neutral” rating in a research report on Friday, October 18th. One research 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 stock currently has a consensus rating of “Hold” and an average price target of $345.40.

Snap-on Price Performance

Shares of NYSE:SNA opened at $351.70 on Thursday. The firm has a market capitalization of $18.47 billion, a PE ratio of 18.10, a PEG ratio of 2.23 and a beta of 1.00. The company has a current ratio of 4.18, a quick ratio of 3.14 and a debt-to-equity ratio of 0.22. Snap-on Incorporated has a 1-year low of $252.98 and a 1-year high of $373.89. The business’s 50 day moving average is $350.74 and its 200-day moving average is $312.37.

Snap-on Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Thursday, November 21st were issued a $2.14 dividend. This represents a $8.56 annualized dividend and a yield of 2.43%. The ex-dividend date of this dividend was Thursday, November 21st. This is a positive change from Snap-on’s previous quarterly dividend of $1.86. Snap-on’s payout ratio is 44.06%.

Insider Activity

In other Snap-on news, SVP Thomas J. Ward sold 12,737 shares of the company’s stock in a transaction on Monday, October 28th. The stock was sold at an average price of $333.21, for a total value of $4,244,095.77. Following the sale, the senior vice president now directly owns 55,401 shares in the company, valued at $18,460,167.21. This represents a 18.69 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Nicholas T. Pinchuk sold 21,783 shares of Snap-on stock in a transaction 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 transaction, the chief executive officer now directly owns 769,738 shares of the company’s stock, valued at approximately $273,126,134.54. The trade was a 2.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 44,929 shares of company stock worth $15,645,074. 4.10% of the stock is currently owned by corporate insiders.

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.