Wilmington Savings Fund Society FSB Buys 1,377 Shares of Snap-on Incorporated (NYSE:SNA)

Wilmington Savings Fund Society FSB grew its stake in Snap-on Incorporated (NYSE:SNA) by 37.0% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 5,097 shares of the company’s stock after acquiring an additional 1,377 shares during the quarter. Wilmington Savings Fund Society FSB’s holdings in Snap-on were worth $1,477,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of the stock. Assenagon Asset Management S.A. grew its position in Snap-on by 248.8% during the 2nd quarter. Assenagon Asset Management S.A. now owns 48,697 shares of the company’s stock valued at $12,729,000 after purchasing an additional 34,737 shares during the last quarter. Brookstone Capital Management purchased a new stake in shares of Snap-on during the second quarter valued at approximately $246,000. Hennion & Walsh Asset Management Inc. increased its position in shares of Snap-on by 84.6% during the second quarter. Hennion & Walsh Asset Management Inc. now owns 2,630 shares of the company’s stock valued at $687,000 after acquiring an additional 1,205 shares in the last quarter. Apollon Wealth Management LLC increased its position in shares of Snap-on by 8.0% during the second quarter. Apollon Wealth Management LLC now owns 7,375 shares of the company’s stock valued at $1,928,000 after acquiring an additional 544 shares in the last quarter. Finally, First Citizens Bank & Trust Co. lifted its position in Snap-on by 0.7% in the 2nd quarter. First Citizens Bank & Trust Co. now owns 34,458 shares of the company’s stock valued at $9,007,000 after acquiring an additional 235 shares in the last quarter. 84.88% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, VP Iain Boyd sold 6,044 shares of the stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $298.99, for a total value of $1,807,095.56. Following the completion of the sale, the vice president now directly owns 10,493 shares of the company’s stock, valued at $3,137,302.07. This represents a 36.55 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP June C. Lemerand sold 3,500 shares of Snap-on stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $362.86, for a total transaction of $1,270,010.00. Following the transaction, the vice president now owns 2,289 shares in the company, valued at approximately $830,586.54. This trade represents a 60.46 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 45,814 shares of company stock worth $15,627,963 over the last quarter. 4.10% of the stock is currently owned by corporate insiders.

Snap-on Price Performance

Shares of NYSE:SNA opened at $355.11 on Friday. The firm’s 50 day moving average price is $340.72 and its 200-day moving average price is $297.21. The company has a quick ratio of 3.14, a current ratio of 4.18 and a debt-to-equity ratio of 0.22. The stock has a market capitalization of $18.65 billion, a PE ratio of 18.28, a price-to-earnings-growth ratio of 2.35 and a beta of 0.98. Snap-on Incorporated has a twelve month low of $252.98 and a twelve month high of $373.89.

Snap-on (NYSE:SNA) last released its quarterly earnings results on Thursday, October 17th. The company reported $4.70 earnings per share for the quarter, topping the consensus estimate of $4.58 by $0.12. The business had revenue of $1.15 billion for the quarter, compared to the consensus estimate of $1.16 billion. Snap-on had a net margin of 22.13% and a return on equity of 19.44%. Equities research analysts expect that Snap-on Incorporated will post 19.05 EPS for the current year.

Snap-on Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Thursday, November 21st were issued a dividend of $2.14 per share. This represents a $8.56 annualized dividend and a yield of 2.41%. The ex-dividend date 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 currently 44.06%.

Analyst Ratings Changes

Several research analysts have recently weighed in on the company. Tigress Financial boosted their price target on Snap-on from $336.00 to $385.00 and gave the stock a “buy” rating in a research note on Friday, October 25th. Barrington Research upped their target price on shares of 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 shares of Snap-on from $324.00 to $365.00 and gave the stock a “buy” rating in a research note on Tuesday, October 22nd. Robert W. Baird increased their price objective on shares of Snap-on from $290.00 to $347.00 and gave the company a “neutral” rating in a research report on Friday, October 18th. Finally, Bank of America lifted 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. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, Snap-on has a consensus rating of “Hold” and a consensus target price of $345.40.

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.