2,509 Shares in Snap-on Incorporated (NYSE:SNA) Bought by Denali Advisors LLC

Denali Advisors LLC bought a new position in shares of Snap-on Incorporated (NYSE:SNA) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 2,509 shares of the company’s stock, valued at approximately $852,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Allspring Global Investments Holdings LLC lifted its stake in shares of Snap-on by 122.1% in the third quarter. Allspring Global Investments Holdings LLC now owns 9,480 shares of the company’s stock worth $2,746,000 after acquiring an additional 5,212 shares during the period. State of Alaska Department of Revenue raised its holdings in Snap-on by 19.0% during the 3rd quarter. State of Alaska Department of Revenue now owns 15,589 shares of the company’s stock worth $4,515,000 after purchasing an additional 2,485 shares during the last quarter. abrdn plc lifted its position in shares of Snap-on by 5.9% in the 3rd quarter. abrdn plc now owns 22,797 shares of the company’s stock worth $6,561,000 after purchasing an additional 1,272 shares during the period. First Trust Direct Indexing L.P. boosted its stake in shares of Snap-on by 11.6% in the 3rd quarter. First Trust Direct Indexing L.P. now owns 1,348 shares of the company’s stock valued at $391,000 after purchasing an additional 140 shares during the last quarter. Finally, Pinnacle Associates Ltd. acquired a new stake in shares of Snap-on during the third quarter worth $214,000. 84.88% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, CEO Nicholas T. Pinchuk sold 21,783 shares of the company’s stock in a transaction that occurred 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 transaction, the chief executive officer now directly owns 769,738 shares of the company’s stock, valued at $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 Securities & Exchange Commission, which is available through this link. 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 sale, the vice president now directly owns 2,289 shares of the company’s stock, valued at approximately $830,586.54. The trade was a 60.46 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 45,503 shares of company stock worth $15,906,074 in the last three months. Company insiders own 4.10% of the company’s stock.

Analyst Ratings Changes

Separately, Barrington Research restated an “outperform” rating and issued a $350.00 target price on shares of Snap-on in a report on Monday, February 10th. One 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’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $345.40.

Snap-on Price Performance

Shares of SNA opened at $338.70 on Thursday. The firm has a market cap of $17.75 billion, a PE ratio of 17.37, a price-to-earnings-growth ratio of 2.21 and a beta of 0.99. Snap-on Incorporated has a 52-week low of $252.98 and a 52-week high of $373.89. The business’s 50 day moving average price is $343.33 and its two-hundred day moving average price is $324.96. The company has a debt-to-equity ratio of 0.22, a quick ratio of 3.17 and a current ratio of 4.15.

Snap-on (NYSE:SNA) last released its earnings results on Thursday, February 6th. The company reported $4.82 earnings per share (EPS) 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 in the prior year, the firm posted $4.75 EPS. On average, equities analysts anticipate that Snap-on Incorporated will post 19.79 EPS for the current year.

Snap-on Dividend Announcement

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 given a dividend of $2.14 per share. The ex-dividend date of this dividend is Monday, February 24th. This represents a $8.56 dividend on an annualized basis and a dividend yield of 2.53%. Snap-on’s dividend payout ratio (DPR) is presently 43.90%.

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.