Townsend & Associates Inc Acquires 457 Shares of Snap-on Incorporated (NYSE:SNA)

Townsend & Associates Inc boosted its holdings in Snap-on Incorporated (NYSE:SNA) by 0.8% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 58,170 shares of the company’s stock after acquiring an additional 457 shares during the quarter. Snap-on accounts for approximately 2.1% of Townsend & Associates Inc’s holdings, making the stock its 16th largest position. Townsend & Associates Inc’s holdings in Snap-on were worth $20,603,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. UMB Bank n.a. lifted its holdings in shares of Snap-on by 70.5% during the 4th quarter. UMB Bank n.a. now owns 75 shares of the company’s stock valued at $25,000 after buying an additional 31 shares during the period. Migdal Insurance & Financial Holdings Ltd. bought a new position in shares of Snap-on during the 4th quarter valued at $28,000. Reston Wealth Management LLC bought a new position in shares of Snap-on during the 3rd quarter valued at $30,000. Brooklyn Investment Group bought a new position in shares of Snap-on during the 3rd quarter valued at $39,000. Finally, Asset Planning Inc bought a new position in shares of Snap-on during the 4th quarter valued at $68,000. 84.88% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, SVP Jesus Arregui sold 6,451 shares of the firm’s stock in a transaction on Monday, February 10th. The stock was sold at an average price of $337.81, for a total value of $2,179,212.31. Following the transaction, the senior vice president now directly owns 257 shares of the company’s stock, valued at approximately $86,817.17. This trade represents a 96.17 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP June C. Lemerand sold 3,500 shares of the firm’s stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $362.86, for a total value 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. This represents a 60.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 45,503 shares of company stock valued at $15,906,074. 4.10% of the stock is owned by company insiders.

Snap-on Price Performance

NYSE SNA opened at $335.87 on Friday. Snap-on Incorporated has a 1-year low of $252.98 and a 1-year high of $373.89. The business’s fifty day moving average price is $343.79 and its 200-day moving average price is $323.56. The stock has a market capitalization of $17.60 billion, a price-to-earnings ratio of 17.22, a PEG ratio of 2.21 and a beta of 0.99. The company has a debt-to-equity ratio of 0.22, a current ratio of 4.15 and a quick ratio of 3.17.

Snap-on (NYSE:SNA) last announced its earnings results on Thursday, February 6th. The company reported $4.82 EPS for the quarter, topping analysts’ consensus estimates of $4.78 by $0.04. Snap-on had a return on equity of 19.20% and a net margin of 21.71%. During the same period in the previous year, the company posted $4.75 EPS. On average, equities analysts predict that Snap-on Incorporated will post 19.79 earnings per share for the current year.

Snap-on Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Monday, February 24th will be issued a $2.14 dividend. The ex-dividend date of this dividend is Monday, February 24th. This represents a $8.56 dividend on an annualized basis and a yield of 2.55%. Snap-on’s dividend payout ratio is currently 43.90%.

Analysts Set New Price Targets

Separately, Barrington Research reissued an “outperform” rating and set a $350.00 price target on shares of Snap-on in a report on Monday, February 10th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Snap-on currently has an average rating of “Hold” and an average target price of $345.40.

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.