Isthmus Partners LLC Boosts Stock Position in Snap-on Incorporated (NYSE:SNA)

Isthmus Partners LLC lifted its position in shares of Snap-on Incorporated (NYSE:SNA) by 4.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,213 shares of the company’s stock after purchasing an additional 54 shares during the period. Isthmus Partners LLC’s holdings in Snap-on were worth $412,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of SNA. UMB Bank n.a. lifted its holdings in Snap-on by 70.5% in the fourth quarter. UMB Bank n.a. now owns 75 shares of the company’s stock worth $25,000 after buying an additional 31 shares during the period. SBI Securities Co. Ltd. purchased a new stake in Snap-on in the fourth quarter worth about $26,000. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in Snap-on in the fourth quarter worth about $28,000. Brooklyn Investment Group purchased a new stake in Snap-on in the third quarter worth about $39,000. Finally, Asset Planning Inc purchased a new stake in Snap-on in the fourth quarter worth about $68,000. 84.88% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have commented on SNA. Barrington Research restated an “outperform” rating and issued a $350.00 price objective on shares of Snap-on in a report on Monday, February 10th. Tigress Financial lifted their target price on shares of Snap-on from $385.00 to $390.00 and gave the company a “buy” rating in a report on Tuesday, March 4th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, Snap-on presently has a consensus rating of “Hold” and a consensus target price of $346.40.

Snap-on Price Performance

SNA stock opened at $340.01 on Tuesday. The firm has a 50 day moving average price of $342.21 and a 200-day moving average price of $328.33. Snap-on Incorporated has a 52-week low of $252.98 and a 52-week high of $373.90. The firm has a market capitalization of $17.81 billion, a price-to-earnings ratio of 17.44, a PEG ratio of 2.21 and a beta of 0.99. The company has a debt-to-equity ratio of 0.22, a quick ratio of 3.17 and a current ratio of 4.15.

Snap-on (NYSE:SNA) last released its earnings results on Thursday, February 6th. The company reported $4.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.78 by $0.04. Snap-on had a net margin of 21.71% and a return on equity of 19.20%. During the same quarter last year, the business earned $4.75 earnings per share. Equities research analysts forecast that Snap-on Incorporated will post 19.79 EPS for the current fiscal year.

Snap-on Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Monday, February 24th were given a dividend of $2.14 per share. This represents a $8.56 annualized dividend and a dividend yield of 2.52%. The ex-dividend date of this dividend was Monday, February 24th. Snap-on’s dividend payout ratio (DPR) is currently 43.90%.

Insider Activity at Snap-on

In other Snap-on news, SVP Jesus Arregui sold 6,451 shares of Snap-on stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $337.81, for a total value of $2,179,212.31. Following the completion of the sale, the senior vice president now owns 257 shares of the company’s stock, valued at approximately $86,817.17. The trade was a 96.17 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Aldo John Pagliari sold 6,909 shares of the business’s stock in a transaction on Wednesday, December 18th. The shares were sold at an average price of $347.62, for a total transaction of $2,401,706.58. Following the sale, the chief financial officer now owns 100,668 shares of the company’s stock, valued at approximately $34,994,210.16. This represents a 6.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 20,220 shares of company stock valued at $6,906,802 over the last 90 days. Corporate insiders own 4.10% of the company’s stock.

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.