Strategic Global Advisors LLC Purchases 1,027 Shares of Snap-on Incorporated (NYSE:SNA)

Strategic Global Advisors LLC increased its stake in shares of Snap-on Incorporated (NYSE:SNA - Free Report) by 4.2% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 25,496 shares of the company's stock after purchasing an additional 1,027 shares during the period. Snap-on makes up approximately 1.6% of Strategic Global Advisors LLC's investment portfolio, making the stock its 19th largest position. Strategic Global Advisors LLC's holdings in Snap-on were worth $8,655,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the business. UMB Bank n.a. raised its holdings in shares of Snap-on by 70.5% in the fourth quarter. UMB Bank n.a. now owns 75 shares of the company's stock valued at $25,000 after buying an additional 31 shares during the last quarter. SBI Securities Co. Ltd. purchased a new position in shares of Snap-on during the 4th quarter worth approximately $26,000. Migdal Insurance & Financial Holdings Ltd. purchased a new position in Snap-on in the fourth quarter worth $28,000. CoreFirst Bank & Trust purchased a new position in Snap-on in the fourth quarter valued at about $40,000. Finally, TCTC Holdings LLC grew its holdings in Snap-on by 41.3% in the fourth quarter. TCTC Holdings LLC now owns 147 shares of the company's stock valued at $50,000 after purchasing an additional 43 shares during the last quarter. Institutional investors and hedge funds own 84.88% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on SNA shares. Longbow Research raised shares of Snap-on from a "neutral" rating to a "buy" rating and set a $400.00 target price for the company in a research note on Monday, March 31st. Robert W. Baird decreased their target price on shares of Snap-on from $349.00 to $320.00 and set a "neutral" rating on the stock in a research report on Monday, April 21st. Wall Street Zen raised Snap-on from a "hold" rating to a "buy" rating in a research note on Friday, May 16th. Barrington Research reaffirmed an "outperform" rating and issued a $350.00 price objective on shares of Snap-on in a research report on Monday. Finally, Tigress Financial raised their price target on Snap-on from $385.00 to $390.00 and gave the stock a "buy" rating in a research note on Tuesday, March 4th. One research analyst has rated the stock with a sell rating, one has given a hold rating and five have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $350.83.

Insiders Place Their Bets

In other news, CEO Nicholas T. Pinchuk sold 22,700 shares of Snap-on stock in a transaction on Thursday, March 27th. The stock was sold at an average price of $335.32, for a total transaction of $7,611,764.00. Following the transaction, the chief executive officer now directly owns 793,932 shares in the company, valued at approximately $266,221,278.24. This trade represents a 2.78% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Aldo John Pagliari sold 5,553 shares of the company's stock in a transaction on Thursday, May 15th. The shares were sold at an average price of $326.84, for a total value of $1,814,942.52. Following the completion of the transaction, the chief financial officer now directly owns 109,560 shares in the company, valued at $35,808,590.40. This represents a 4.82% decrease in their position. The disclosure for this sale can be found here. 3.90% of the stock is owned by corporate insiders.

Snap-on Trading Down 0.8%

SNA traded down $2.42 on Friday, reaching $318.73. 70,312 shares of the company's stock were exchanged, compared to its average volume of 408,283. The company has a market cap of $16.67 billion, a price-to-earnings ratio of 16.34, a PEG ratio of 2.21 and a beta of 0.78. 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 Incorporated has a twelve month low of $252.98 and a twelve month high of $373.89. The company's 50 day moving average is $322.31 and its 200-day moving average is $338.58.

Snap-on (NYSE:SNA - Get Free Report) last posted its earnings results on Thursday, April 17th. The company reported $4.51 earnings per share for the quarter, missing the consensus estimate of $4.81 by ($0.30). Snap-on had a net margin of 21.71% and a return on equity of 19.20%. The business had revenue of $1.14 billion for the quarter, compared to analyst estimates of $1.20 billion. During the same quarter in the previous year, the firm posted $4.91 EPS. Equities analysts predict that Snap-on Incorporated will post 19.79 earnings per share for the current year.

Snap-on Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Tuesday, May 20th will be given a $2.14 dividend. This represents a $8.56 annualized dividend and a dividend yield of 2.69%. The ex-dividend date of this dividend is Tuesday, May 20th. Snap-on's payout ratio is currently 44.82%.

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.