Snap-on Incorporated (NYSE:SNA) Shares Bought by Vision Capital Management Inc.

Vision Capital Management Inc. raised its stake in Snap-on Incorporated (NYSE:SNA) by 0.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 16,468 shares of the company’s stock after purchasing an additional 59 shares during the quarter. Vision Capital Management Inc.’s holdings in Snap-on were worth $5,591,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Czech National Bank boosted its stake in shares of Snap-on by 6.8% in the third quarter. Czech National Bank now owns 10,732 shares of the company’s stock valued at $3,109,000 after buying an additional 685 shares in the last quarter. Brookstone Capital Management boosted its stake in shares of Snap-on by 25.4% in the third quarter. Brookstone Capital Management now owns 1,116 shares of the company’s stock valued at $323,000 after buying an additional 226 shares in the last quarter. Jessup Wealth Management Inc purchased a new stake in shares of Snap-on in the third quarter valued at approximately $282,000. JGP Wealth Management LLC boosted its stake in shares of Snap-on by 4.1% in the third quarter. JGP Wealth Management LLC now owns 3,206 shares of the company’s stock valued at $929,000 after buying an additional 127 shares in the last quarter. Finally, Livforsakringsbolaget Skandia Omsesidigt boosted its stake in shares of Snap-on by 19.8% in the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 29,600 shares of the company’s stock valued at $8,572,000 after buying an additional 4,900 shares in the last quarter. 84.88% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have commented on SNA. Bank of America boosted their target price on Snap-on from $255.00 to $280.00 and gave the stock an “underperform” rating in a research report on Friday, October 18th. Robert W. Baird boosted their target price on Snap-on from $290.00 to $347.00 and gave the stock a “neutral” rating in a research report on Friday, October 18th. Tigress Financial boosted their target price on 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 reiterated an “outperform” rating and set a $360.00 target price on shares of Snap-on in a research report on Monday. Finally, Roth Mkm boosted their target price 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 research 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. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $347.40.

Snap-on Stock Performance

NYSE SNA opened at $357.61 on Thursday. 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 cap of $18.78 billion, a price-to-earnings ratio of 18.41, a price-to-earnings-growth ratio of 2.23 and a beta of 0.99. The business has a fifty day moving average of $349.05 and a 200-day moving average of $318.38. The company has a quick ratio of 3.14, a current ratio of 4.18 and a debt-to-equity ratio of 0.22.

Snap-on Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Thursday, November 21st were issued a $2.14 dividend. This represents a $8.56 dividend on an annualized basis and a dividend yield of 2.39%. This is a boost from Snap-on’s previous quarterly dividend of $1.86. The ex-dividend date was Thursday, November 21st. Snap-on’s payout ratio is 44.06%.

Insider Transactions at Snap-on

In related news, CFO Aldo John Pagliari sold 6,909 shares of the company’s stock in a transaction 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 directly owns 100,668 shares in the company, valued at approximately $34,994,210.16. This represents a 6.42 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Nicholas T. Pinchuk sold 21,783 shares of the company’s stock in a transaction 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 transaction, the chief executive officer now owns 769,738 shares of the company’s stock, valued at $273,126,134.54. The trade was a 2.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 32,192 shares of company stock valued at $11,400,978 over the last three months. 4.10% of the stock is currently owned by insiders.

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.