Hunter Associates Investment Management LLC Reduces Holdings in Snap-on Incorporated (NYSE:SNA)

Hunter Associates Investment Management LLC lowered its position in Snap-on Incorporated (NYSE:SNA) by 1.7% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 6,284 shares of the company’s stock after selling 106 shares during the period. Hunter Associates Investment Management LLC’s holdings in Snap-on were worth $2,129,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Ibex Wealth Advisors acquired a new position in Snap-on during the fourth quarter worth about $300,000. Swedbank AB increased its holdings in shares of Snap-on by 12.5% in the fourth quarter. Swedbank AB now owns 57,518 shares of the company’s stock valued at $19,526,000 after purchasing an additional 6,375 shares during the last quarter. Twelve Points Wealth Management LLC increased its holdings in shares of Snap-on by 2.8% in the fourth quarter. Twelve Points Wealth Management LLC now owns 3,144 shares of the company’s stock valued at $1,067,000 after purchasing an additional 85 shares during the last quarter. Perigon Wealth Management LLC lifted its position in Snap-on by 9.5% during the fourth quarter. Perigon Wealth Management LLC now owns 868 shares of the company’s stock worth $300,000 after buying an additional 75 shares in the last quarter. Finally, KBC Group NV boosted its stake in Snap-on by 177.4% during the fourth quarter. KBC Group NV now owns 42,820 shares of the company’s stock worth $14,536,000 after buying an additional 27,383 shares during the last quarter. Institutional investors and hedge funds own 84.88% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on SNA. Robert W. Baird upped their price objective on shares of Snap-on from $290.00 to $347.00 and gave the company a “neutral” rating in a report on Friday, October 18th. Tigress Financial increased their price target on shares of Snap-on from $336.00 to $385.00 and gave the company a “buy” rating in a research note on Friday, October 25th. Bank of America lifted their price target 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. Barrington Research increased their price objective on Snap-on from $325.00 to $350.00 and gave the stock an “outperform” rating in a research report on Thursday, October 17th. Finally, Roth Mkm lifted their target price on Snap-on from $324.00 to $365.00 and gave the company a “buy” rating in a research report on Tuesday, October 22nd. One research analyst has rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $345.40.

Insider Buying and Selling

In other Snap-on news, VP June C. Lemerand sold 3,500 shares of the firm’s stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $362.86, for a total value of $1,270,010.00. Following the completion of the transaction, the vice president now owns 2,289 shares of the company’s stock, valued at $830,586.54. This trade represents a 60.46 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Nicholas T. Pinchuk sold 21,783 shares of the business’s stock in a transaction on Monday, December 9th. The stock was 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 trade represents a 2.75 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 32,192 shares of company stock valued at $11,400,978. Corporate insiders own 4.10% of the company’s stock.

Snap-on Stock Performance

NYSE:SNA opened at $358.34 on Friday. Snap-on Incorporated has a fifty-two week low of $252.98 and a fifty-two week high of $373.89. The company has a debt-to-equity ratio of 0.22, a quick ratio of 3.14 and a current ratio of 4.18. The company has a 50 day moving average price of $350.18 and a 200 day moving average price of $315.80. The stock has a market capitalization of $18.82 billion, a P/E ratio of 18.44, a PEG ratio of 2.22 and a beta of 1.00.

Snap-on Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Thursday, November 21st were paid a $2.14 dividend. The ex-dividend date was Thursday, November 21st. This is a boost 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 2.39%. Snap-on’s payout ratio is presently 44.06%.

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.