Planned Solutions Inc. Purchases 50 Shares of Snap-on Incorporated (NYSE:SNA)

Planned Solutions Inc. raised its position in shares of Snap-on Incorporated (NYSE:SNA) by 5.6% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 950 shares of the company’s stock after purchasing an additional 50 shares during the period. Planned Solutions Inc.’s holdings in Snap-on were worth $323,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. UMB Bank n.a. lifted its stake 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 purchasing an additional 31 shares during the last quarter. Reston Wealth Management LLC purchased a new position in shares of Snap-on in the third quarter worth about $30,000. Massmutual Trust Co. FSB ADV lifted its stake in shares of Snap-on by 53.0% in the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 127 shares of the company’s stock valued at $37,000 after acquiring an additional 44 shares during the last quarter. Brooklyn Investment Group purchased a new stake in Snap-on during the 3rd quarter valued at about $39,000. Finally, Quarry LP grew its position in Snap-on by 244.7% during the 2nd quarter. Quarry LP now owns 162 shares of the company’s stock worth $42,000 after acquiring an additional 115 shares during the last quarter. Institutional investors own 84.88% of the company’s stock.

Insider Activity at Snap-on

In other news, CFO Aldo John Pagliari sold 6,909 shares of the firm’s stock in a transaction that occurred on Wednesday, December 18th. The stock was sold at an average price of $347.62, for a total value of $2,401,706.58. Following the completion of the transaction, the chief financial officer now owns 100,668 shares in the company, valued at $34,994,210.16. This trade represents a 6.42 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Thomas J. Ward sold 12,737 shares of the company’s stock in a transaction on Monday, October 28th. The stock was sold at an average price of $333.21, for a total value of $4,244,095.77. Following the completion of the sale, the senior vice president now directly owns 55,401 shares in the company, valued at approximately $18,460,167.21. The trade was a 18.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 44,929 shares of company stock worth $15,645,074 over the last 90 days. 4.10% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the company. Tigress Financial boosted their price objective on Snap-on from $336.00 to $385.00 and gave the company a “buy” rating in a research report on Friday, October 25th. Roth Mkm upped their price target on shares of Snap-on from $324.00 to $365.00 and gave the company a “buy” rating in a report on Tuesday, October 22nd. Barrington Research increased their price target 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 boosted their price objective on shares of Snap-on from $255.00 to $280.00 and gave the company an “underperform” rating in a research report on Friday, October 18th. Finally, Robert W. Baird increased their target price on shares of Snap-on from $290.00 to $347.00 and gave the stock a “neutral” rating in a report on Friday, October 18th. One investment 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’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $345.40.

Snap-on Stock Performance

NYSE:SNA opened at $354.46 on Wednesday. The company has a quick ratio of 3.14, a current ratio of 4.18 and a debt-to-equity ratio of 0.22. The firm’s fifty day simple moving average is $350.93 and its 200 day simple moving average is $312.09. The stock has a market cap of $18.61 billion, a P/E ratio of 18.24, a price-to-earnings-growth ratio of 2.19 and a beta of 1.00. Snap-on Incorporated has a twelve month low of $252.98 and a twelve month high of $373.89.

Snap-on Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Thursday, November 21st were paid a dividend of $2.14 per share. This is a positive change from Snap-on’s previous quarterly dividend of $1.86. The ex-dividend date was Thursday, November 21st. This represents a $8.56 dividend on an annualized basis and a dividend yield of 2.41%. Snap-on’s payout ratio is presently 44.06%.

Snap-on Company 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.