Snap-on Incorporated (NYSE:SNA) Shares Acquired by Pinnacle Financial Partners Inc

Pinnacle Financial Partners Inc increased its holdings in Snap-on Incorporated (NYSE:SNA) by 0.6% during the fourth quarter, HoldingsChannel.com reports. The fund owned 50,037 shares of the company’s stock after buying an additional 304 shares during the period. Pinnacle Financial Partners Inc’s holdings in Snap-on were worth $16,987,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also modified their holdings of SNA. Bleakley Financial Group LLC acquired a new position in Snap-on in the 4th quarter valued at $512,000. Vest Financial LLC increased its stake in Snap-on by 2.4% in the 4th quarter. Vest Financial LLC now owns 102,987 shares of the company’s stock valued at $34,962,000 after buying an additional 2,460 shares during the period. Asset Management One Co. Ltd. increased its stake in Snap-on by 0.3% in the 3rd quarter. Asset Management One Co. Ltd. now owns 19,896 shares of the company’s stock valued at $5,764,000 after buying an additional 67 shares during the period. Sanctuary Advisors LLC increased its stake 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 buying an additional 1,605 shares during the period. Finally, World Investment Advisors LLC acquired a new position in Snap-on in the 3rd quarter valued at $19,291,000. 84.88% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the stock. Tigress Financial boosted their price objective 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. Barrington Research restated an “outperform” rating and set a $350.00 target price on shares of Snap-on in a research report on Monday, February 10th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $345.40.

Snap-on Price Performance

Shares of NYSE SNA opened at $335.87 on Friday. Snap-on Incorporated has a one year low of $252.98 and a one year high of $373.89. The company has a debt-to-equity ratio of 0.22, a quick ratio of 3.17 and a current ratio of 4.15. The company’s fifty day moving average is $343.79 and its two-hundred day moving average is $323.21. The firm has a market capitalization of $17.60 billion, a P/E ratio of 17.22, a PEG ratio of 2.21 and a beta of 0.99.

Snap-on (NYSE:SNA) last released its quarterly earnings data on Thursday, February 6th. The company reported $4.82 EPS for the quarter, topping the consensus estimate 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 period last year, the firm posted $4.75 EPS. Analysts forecast that Snap-on Incorporated will post 19.79 EPS for the current fiscal year.

Snap-on Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Stockholders of record on Monday, February 24th will be paid a dividend of $2.14 per share. This represents a $8.56 dividend on an annualized basis and a dividend yield of 2.55%. The ex-dividend date is Monday, February 24th. Snap-on’s dividend payout ratio is currently 43.90%.

Insider Buying and Selling

In other Snap-on news, SVP Jesus Arregui sold 6,451 shares of Snap-on stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $337.81, for a total transaction of $2,179,212.31. Following the transaction, the senior vice president now owns 257 shares of the company’s stock, valued at $86,817.17. The trade was a 96.17 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Aldo John Pagliari sold 6,860 shares of the business’s stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $339.05, for a total value of $2,325,883.00. Following the completion of the sale, the chief financial officer now owns 107,096 shares of the company’s stock, valued at approximately $36,310,898.80. This trade represents a 6.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 45,503 shares of company stock valued at $15,906,074. 4.10% of the stock is currently owned by corporate insiders.

About Snap-on

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.