Trueblood Wealth Management LLC Grows Stock Holdings in Snap-on Incorporated (NYSE:SNA)

Trueblood Wealth Management LLC raised its stake in shares of Snap-on Incorporated (NYSE:SNA) by 1.8% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 3,667 shares of the company’s stock after acquiring an additional 65 shares during the period. Trueblood Wealth Management LLC’s holdings in Snap-on were worth $1,245,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Asset Management One Co. Ltd. boosted its holdings in shares of Snap-on by 0.3% in the third quarter. Asset Management One Co. Ltd. now owns 19,896 shares of the company’s stock valued at $5,764,000 after acquiring an additional 67 shares in the last quarter. Sanctuary Advisors LLC boosted its holdings in Snap-on by 3.6% in the 3rd quarter. Sanctuary Advisors LLC now owns 45,783 shares of the company’s stock valued at $13,264,000 after purchasing an additional 1,605 shares in the last quarter. World Investment Advisors LLC purchased a new position in shares of Snap-on during the 3rd quarter worth approximately $19,291,000. Integrated Wealth Concepts LLC boosted its stake in shares of Snap-on by 220.7% in the third quarter. Integrated Wealth Concepts LLC now owns 2,716 shares of the company’s stock valued at $787,000 after buying an additional 1,869 shares in the last quarter. Finally, Victory Capital Management Inc. grew its holdings in Snap-on by 21.5% during the third quarter. Victory Capital Management Inc. now owns 158,777 shares of the company’s stock worth $45,999,000 after acquiring an additional 28,049 shares during the period. 84.88% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, CEO Nicholas T. Pinchuk sold 21,783 shares of the company’s stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $354.83, for a total transaction 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 approximately $273,126,134.54. This represents a 2.75 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP June C. Lemerand sold 3,500 shares of Snap-on stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $362.86, for a total transaction of $1,270,010.00. Following the completion of the transaction, the vice president now owns 2,289 shares in the company, valued at approximately $830,586.54. This trade represents a 60.46 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 44,929 shares of company stock valued at $15,645,074 over the last 90 days. Insiders own 4.10% of the company’s stock.

Snap-on Stock Performance

Shares of SNA opened at $348.17 on Monday. Snap-on Incorporated has a 12-month low of $252.98 and a 12-month high of $373.89. The stock has a market cap of $18.28 billion, a P/E ratio of 17.92, a PEG ratio of 2.09 and a beta of 1.00. The company has a current ratio of 4.18, a quick ratio of 3.14 and a debt-to-equity ratio of 0.22. The company has a 50-day moving average of $351.33 and a two-hundred day moving average of $310.75.

Snap-on (NYSE:SNA) last issued its quarterly earnings data on Thursday, October 17th. The company reported $4.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.58 by $0.12. Snap-on had a return on equity of 19.44% and a net margin of 22.13%. The firm had revenue of $1.15 billion during the quarter, compared to the consensus estimate of $1.16 billion. As a group, research analysts predict that Snap-on Incorporated will post 19.05 EPS for the current fiscal year.

Snap-on Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Thursday, November 21st were issued a dividend of $2.14 per share. The ex-dividend date was Thursday, November 21st. This is an increase from Snap-on’s previous quarterly dividend of $1.86. This represents a $8.56 dividend on an annualized basis and a dividend yield of 2.46%. Snap-on’s payout ratio is 44.06%.

Wall Street Analyst Weigh In

SNA has been the topic of several research analyst reports. Bank of America boosted their target price on shares of 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 upped their target price on shares of Snap-on from $290.00 to $347.00 and gave the stock a “neutral” rating in a research report on Friday, October 18th. Roth Mkm increased their target price 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 boosted their price target on Snap-on from $325.00 to $350.00 and gave the stock an “outperform” rating in a research note on Thursday, October 17th. Finally, Tigress Financial raised their price objective on Snap-on from $336.00 to $385.00 and gave the company a “buy” rating in a research note on Friday, October 25th. One analyst has rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $345.40.

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.