MCF Advisors LLC Grows Position in Snap-on Incorporated (NYSE:SNA)

MCF Advisors LLC raised its stake in shares of Snap-on Incorporated (NYSE:SNA) by 40.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,304 shares of the company’s stock after acquiring an additional 377 shares during the period. MCF Advisors LLC’s holdings in Snap-on were worth $443,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of SNA. State Street Corp boosted its holdings in Snap-on by 0.5% during the third quarter. State Street Corp now owns 2,115,973 shares of the company’s stock worth $613,019,000 after purchasing an additional 10,645 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of Snap-on by 3.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,728,792 shares of the company’s stock worth $500,848,000 after buying an additional 56,266 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Snap-on by 4.5% in the third quarter. Geode Capital Management LLC now owns 1,613,459 shares of the company’s stock valued at $466,199,000 after acquiring an additional 69,590 shares in the last quarter. Nordea Investment Management AB increased its position in shares of Snap-on by 12.8% during the fourth quarter. Nordea Investment Management AB now owns 1,128,317 shares of the company’s stock valued at $384,813,000 after acquiring an additional 127,859 shares during the last quarter. Finally, Earnest Partners LLC increased its position in shares of Snap-on by 1.4% during the second quarter. Earnest Partners LLC now owns 942,743 shares of the company’s stock valued at $246,424,000 after acquiring an additional 13,033 shares during the last quarter. 84.88% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Snap-on

In other news, CEO Nicholas T. Pinchuk sold 21,783 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the chief executive officer now directly owns 769,738 shares in the company, valued at approximately $273,126,134.54. The trade was a 2.75 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 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 transaction of $1,270,010.00. Following the completion of the sale, the vice president now directly owns 2,289 shares of the company’s stock, valued at $830,586.54. This trade represents a 60.46 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 44,929 shares of company stock valued at $15,645,074 over the last 90 days. 4.10% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several analysts have commented on SNA shares. Tigress Financial lifted their price objective on shares of Snap-on from $336.00 to $385.00 and gave the stock a “buy” rating in a research report on Friday, October 25th. Barrington Research raised their price objective on shares of Snap-on from $325.00 to $350.00 and gave the company an “outperform” rating in a research report on Thursday, October 17th. Bank of America increased their target price on shares of Snap-on from $255.00 to $280.00 and gave the stock an “underperform” rating in a research note on Friday, October 18th. Robert W. Baird boosted their price target 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, Roth Mkm increased their price objective 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 analyst has rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $345.40.

Snap-on Trading Up 1.7 %

Shares of Snap-on stock opened at $354.46 on Wednesday. The company has a 50 day simple moving average of $350.93 and a two-hundred day simple moving average of $312.09. The firm has a market cap of $18.61 billion, a PE ratio of 18.24, a PEG ratio of 2.19 and a beta of 1.00. Snap-on Incorporated has a 1 year low of $252.98 and a 1 year high of $373.89. The company has a debt-to-equity ratio of 0.22, a current ratio of 4.18 and a quick ratio of 3.14.

Snap-on Increases Dividend

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