IFG Advisory LLC Increases Stock Position in Snap-on Incorporated (NYSE:SNA)

IFG Advisory LLC lifted its holdings in shares of Snap-on Incorporated (NYSE:SNA - Free Report) by 31.5% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 20,026 shares of the company's stock after acquiring an additional 4,794 shares during the quarter. IFG Advisory LLC's holdings in Snap-on were worth $5,785,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in SNA. Norges Bank acquired a new position in Snap-on in the 4th quarter worth $112,490,000. Nordea Investment Management AB lifted its holdings in Snap-on by 52.8% in the 4th quarter. Nordea Investment Management AB now owns 864,565 shares of the company's stock worth $249,743,000 after buying an additional 298,727 shares in the last quarter. Wellington Management Group LLP lifted its holdings in Snap-on by 7,194.3% in the 1st quarter. Wellington Management Group LLP now owns 241,149 shares of the company's stock worth $49,551,000 after buying an additional 237,843 shares in the last quarter. Envestnet Asset Management Inc. lifted its holdings in Snap-on by 25.1% in the 3rd quarter. Envestnet Asset Management Inc. now owns 738,473 shares of the company's stock worth $188,355,000 after buying an additional 147,997 shares in the last quarter. Finally, Virginia Retirement Systems ET AL acquired a new position in Snap-on in the 2nd quarter worth $34,262,000. Institutional investors and hedge funds own 84.88% of the company's stock.

Snap-on Price Performance

SNA stock traded down $0.72 on Thursday, hitting $296.22. 241,410 shares of the company's stock traded hands, compared to its average volume of 308,411. Snap-on Incorporated has a 1-year low of $226.68 and a 1-year high of $298.49. The stock has a market cap of $15.65 billion, a price-to-earnings ratio of 15.80, a P/E/G ratio of 2.08 and a beta of 0.98. The stock has a fifty day moving average of $283.61 and a 200-day moving average of $274.94. The company has a current ratio of 3.88, a quick ratio of 2.81 and a debt-to-equity ratio of 0.23.

Snap-on (NYSE:SNA - Get Free Report) last released its earnings results on Thursday, February 8th. The company reported $4.75 EPS for the quarter, beating the consensus estimate of $4.66 by $0.09. Snap-on had a net margin of 21.38% and a return on equity of 20.89%. The business had revenue of $1.20 billion during the quarter, compared to analyst estimates of $1.20 billion. During the same period in the prior year, the business earned $4.42 earnings per share. The business's quarterly revenue was up 3.5% on a year-over-year basis. On average, analysts forecast that Snap-on Incorporated will post 19.21 EPS for the current fiscal year.

Snap-on Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 11th. Investors of record on Monday, February 26th were given a $1.86 dividend. The ex-dividend date of this dividend was Friday, February 23rd. This represents a $7.44 annualized dividend and a dividend yield of 2.51%. Snap-on's dividend payout ratio (DPR) is presently 39.68%.

Analyst Ratings Changes

SNA has been the subject of several research analyst reports. Barrington Research reissued an "outperform" rating and issued a $325.00 target price on shares of Snap-on in a research report on Thursday, February 8th. Tigress Financial reaffirmed a "buy" rating and set a $336.00 price objective on shares of Snap-on in a research report on Friday, February 16th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and five have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $306.00.

Insider Activity at Snap-on

In other Snap-on news, CFO Aldo John Pagliari sold 7,522 shares of the stock in a transaction that occurred on Tuesday, February 27th. The shares were sold at an average price of $271.94, for a total value of $2,045,532.68. Following the completion of the sale, the chief financial officer now owns 95,661 shares in the company, valued at approximately $26,014,052.34. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, CFO Aldo John Pagliari sold 7,522 shares of Snap-on stock in a transaction dated Tuesday, February 27th. The shares were sold at an average price of $271.94, for a total transaction of $2,045,532.68. Following the sale, the chief financial officer now directly owns 95,661 shares in the company, valued at approximately $26,014,052.34. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Anup R. Banerjee sold 12,397 shares of Snap-on stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $283.13, for a total transaction of $3,509,962.61. Following the sale, the senior vice president now owns 11,420 shares in the company, valued at $3,233,344.60. The disclosure for this sale can be found here. In the last 90 days, insiders sold 46,664 shares of company stock worth $13,189,544. 4.10% of the stock is owned by corporate insiders.

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.