Griffin Asset Management Inc. acquired a new position in Snap-on (NYSE:SNA) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 17,108 shares of the company’s stock, valued at approximately $2,982,000.
A number of other large investors have also modified their holdings of SNA. Findlay Park Partners LLP raised its stake in Snap-on by 64.4% in the third quarter. Findlay Park Partners LLP now owns 715,000 shares of the company’s stock worth $106,542,000 after buying an additional 280,000 shares in the last quarter. JPMorgan Chase & Co. raised its stake in Snap-on by 8.9% in the third quarter. JPMorgan Chase & Co. now owns 3,316,671 shares of the company’s stock worth $488,847,000 after buying an additional 270,905 shares in the last quarter. First Trust Advisors LP raised its stake in Snap-on by 147.6% in the fourth quarter. First Trust Advisors LP now owns 433,341 shares of the company’s stock worth $75,531,000 after buying an additional 258,310 shares in the last quarter. Elkfork Partners LLC bought a new position in Snap-on in the fourth quarter worth approximately $36,979,000. Finally, Deprince Race & Zollo Inc. bought a new position in Snap-on in the fourth quarter worth approximately $27,660,000. 99.40% of the stock is owned by institutional investors.
Shares of SNA stock traded up $0.96 during mid-day trading on Wednesday, hitting $151.75. The stock had a trading volume of 24,620 shares, compared to its average volume of 728,547. The firm has a market capitalization of $8,475.83, a P/E ratio of 15.84, a PEG ratio of 1.26 and a beta of 1.12. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.24 and a current ratio of 1.78. Snap-on has a 1-year low of $140.83 and a 1-year high of $185.47.
The firm also recently declared a quarterly dividend, which was paid on Friday, March 16th. Stockholders of record on Friday, March 2nd were given a dividend of $0.82 per share. This represents a $3.28 dividend on an annualized basis and a dividend yield of 2.16%. The ex-dividend date of this dividend was Thursday, March 1st. Snap-on’s payout ratio is presently 34.45%.
In other news, CEO Nicholas T. Pinchuk sold 20,680 shares of the company’s stock in a transaction on Thursday, December 28th. The stock was sold at an average price of $174.55, for a total transaction of $3,609,694.00. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director William Dudley Lehman sold 387 shares of the company’s stock in a transaction on Monday, February 12th. The stock was sold at an average price of $160.60, for a total value of $62,152.20. Following the transaction, the director now directly owns 8,376 shares in the company, valued at $1,345,185.60. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 146,355 shares of company stock worth $24,058,960. Insiders own 4.00% of the company’s stock.
A number of equities analysts recently commented on the stock. Robert W. Baird reduced their price objective on shares of Snap-on from $220.00 to $211.00 and set an “outperform” rating for the company in a research note on Friday, February 9th. B. Riley set a $205.00 price objective on shares of Snap-on and gave the stock a “buy” rating in a research note on Thursday, February 8th. Barrington Research reissued a “buy” rating on shares of Snap-on in a research note on Thursday, March 8th. Finally, Zacks Investment Research raised shares of Snap-on from a “hold” rating to a “buy” rating and set a $206.00 price objective for the company in a research note on Wednesday, January 17th. One analyst has rated the stock with a sell rating, two have given a hold rating and seven have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $192.00.
Snap-on Incorporated manufactures and markets tools, equipment, diagnostics, and repair information and systems solutions for professional users worldwide. The company operates through Commercial & Industrial Group, Snap-on Tools Group, Repair Systems & Information Group, and Financial Services segments.
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