Baldwin Wealth Partners LLC MA Decreases Stock Holdings in Snap-on Incorporated (NYSE:SNA)

Baldwin Wealth Partners LLC MA lowered its stake in Snap-on Incorporated (NYSE:SNA) by 60.0% in the 4th quarter, HoldingsChannel reports. The fund owned 614 shares of the company’s stock after selling 920 shares during the period. Baldwin Wealth Partners LLC MA’s holdings in Snap-on were worth $208,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Public Sector Pension Investment Board grew its holdings in Snap-on by 78.0% during the 2nd quarter. Public Sector Pension Investment Board now owns 2,029 shares of the company’s stock valued at $530,000 after purchasing an additional 889 shares during the last quarter. APG Asset Management N.V. grew its position in Snap-on by 873.5% in the 2nd quarter. APG Asset Management N.V. now owns 21,398 shares of the company’s stock valued at $5,219,000 after acquiring an additional 19,200 shares during the last quarter. MBB Public Markets I LLC bought a new position in Snap-on in the 2nd quarter valued at $869,000. Millennium Management LLC increased its stake in Snap-on by 1,786.4% in the second quarter. Millennium Management LLC now owns 161,175 shares of the company’s stock worth $42,130,000 after purchasing an additional 152,631 shares during the period. Finally, The Manufacturers Life Insurance Company boosted its stake in shares of Snap-on by 1.7% during the second quarter. The Manufacturers Life Insurance Company now owns 43,710 shares of the company’s stock valued at $11,425,000 after purchasing an additional 746 shares during the period. Hedge funds and other institutional investors own 84.88% of the company’s stock.

Analysts Set New Price Targets

SNA has been the topic of several recent analyst reports. Tigress Financial raised their price target on shares of Snap-on from $336.00 to $385.00 and gave the stock a “buy” rating in a research note on Friday, October 25th. Roth Mkm raised their target price on shares of Snap-on from $324.00 to $365.00 and gave the stock a “buy” rating in a research report on Tuesday, October 22nd. Bank of America lifted their price target on shares of Snap-on from $255.00 to $280.00 and gave the company an “underperform” rating in a research note on Friday, October 18th. Robert W. Baird increased their price objective on Snap-on from $290.00 to $347.00 and gave the stock a “neutral” rating in a research note on Friday, October 18th. Finally, Barrington Research lifted their target price on Snap-on from $325.00 to $350.00 and gave the company an “outperform” rating in a research report on Thursday, October 17th. One analyst has rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, Snap-on currently has an average rating of “Hold” and a consensus price target of $345.40.

Insider Activity

In other news, CEO Nicholas T. Pinchuk sold 21,783 shares of the firm’s stock in a transaction dated 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 sale, the chief executive officer now directly owns 769,738 shares in the company, valued at approximately $273,126,134.54. This trade represents a 2.75 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP June C. Lemerand sold 3,500 shares of Snap-on stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $362.86, for a total transaction of $1,270,010.00. Following the completion of the transaction, the vice president now directly owns 2,289 shares in the company, valued at approximately $830,586.54. The trade was a 60.46 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 32,192 shares of company stock worth $11,400,978. 4.10% of the stock is currently owned by company insiders.

Snap-on Price Performance

Shares of SNA opened at $352.89 on Tuesday. The company has a debt-to-equity ratio of 0.22, a quick ratio of 3.14 and a current ratio of 4.18. The company has a 50 day moving average price of $350.37 and a 200-day moving average price of $314.65. Snap-on Incorporated has a fifty-two week low of $252.98 and a fifty-two week high of $373.89. The stock has a market capitalization of $18.53 billion, a PE ratio of 18.16, a PEG ratio of 2.21 and a beta of 1.00.

Snap-on Increases Dividend

The business also recently announced 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. The ex-dividend date was Thursday, November 21st. This represents a $8.56 dividend on an annualized basis and a yield of 2.43%. This is a positive change from Snap-on’s previous quarterly dividend of $1.86. 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.