Jones Financial Companies Lllp Increases Holdings in Snap-on Incorporated (NYSE:SNA)

Jones Financial Companies Lllp grew its holdings in Snap-on Incorporated (NYSE:SNA) by 59.1% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 18,600 shares of the company’s stock after buying an additional 6,906 shares during the quarter. Jones Financial Companies Lllp’s holdings in Snap-on were worth $6,314,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in SNA. First Trust Direct Indexing L.P. lifted its stake in Snap-on by 11.6% in the third quarter. First Trust Direct Indexing L.P. now owns 1,348 shares of the company’s stock worth $391,000 after acquiring an additional 140 shares during the period. Pinnacle Associates Ltd. bought a new position in Snap-on in the 3rd quarter worth $214,000. Janney Montgomery Scott LLC lifted its position in shares of Snap-on by 2.0% in the 3rd quarter. Janney Montgomery Scott LLC now owns 23,102 shares of the company’s stock worth $6,693,000 after purchasing an additional 455 shares during the period. Van ECK Associates Corp boosted its stake in shares of Snap-on by 11.0% during the 3rd quarter. Van ECK Associates Corp now owns 9,617 shares of the company’s stock valued at $2,786,000 after purchasing an additional 953 shares in the last quarter. Finally, National Pension Service increased its position in shares of Snap-on by 4.3% during the third quarter. National Pension Service now owns 113,516 shares of the company’s stock valued at $32,887,000 after buying an additional 4,710 shares during the period. 84.88% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Separately, 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. One investment analyst has rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the stock. According to MarketBeat, Snap-on currently has an average rating of “Hold” and a consensus target price of $345.40.

Insider Activity

In other Snap-on news, VP June C. Lemerand sold 3,500 shares of the 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 sale, the vice president now owns 2,289 shares in the company, valued at approximately $830,586.54. This represents a 60.46 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Nicholas T. Pinchuk sold 21,783 shares of the business’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 completion of the transaction, the chief executive officer now owns 769,738 shares in the company, 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 45,503 shares of company stock valued at $15,906,074 in the last quarter. 4.10% of the stock is currently owned by insiders.

Snap-on Stock Performance

Shares of Snap-on stock opened at $333.45 on Tuesday. Snap-on Incorporated has a 12 month low of $252.98 and a 12 month high of $373.89. The firm has a market capitalization of $17.47 billion, a P/E ratio of 17.10, a P/E/G ratio of 2.21 and a beta of 0.99. The company has a current ratio of 4.15, a quick ratio of 3.17 and a debt-to-equity ratio of 0.22. The business has a fifty day simple moving average of $343.25 and a two-hundred day simple moving average of $326.29.

Snap-on (NYSE:SNA) last released its quarterly earnings data on Thursday, February 6th. The company reported $4.82 earnings per share for the quarter, beating analysts’ consensus estimates 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 company posted $4.75 earnings per share. On average, equities analysts forecast that Snap-on Incorporated will post 19.79 earnings per share for the current fiscal year.

Snap-on Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Monday, February 24th will be paid a dividend of $2.14 per share. The ex-dividend date is Monday, February 24th. This represents a $8.56 dividend on an annualized basis and a dividend yield of 2.57%. Snap-on’s dividend payout ratio is currently 43.90%.

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.