Townsend & Associates Inc Acquires 20,155 Shares of Snap-on Incorporated (NYSE:SNA)

Townsend & Associates Inc grew its stake in Snap-on Incorporated (NYSE:SNA - Free Report) by 60.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 53,305 shares of the company's stock after purchasing an additional 20,155 shares during the quarter. Snap-on makes up 1.9% of Townsend & Associates Inc's holdings, making the stock its 15th biggest position. Townsend & Associates Inc owned about 0.10% of Snap-on worth $15,260,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of SNA. Nordea Investment Management AB grew its holdings in shares of Snap-on by 52.8% during the fourth 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. Envestnet Asset Management Inc. boosted its holdings in shares of Snap-on by 25.1% during the 3rd quarter. Envestnet Asset Management Inc. now owns 738,473 shares of the company's stock worth $188,355,000 after purchasing an additional 147,997 shares during the last quarter. Benjamin F. Edwards & Company Inc. grew its position in shares of Snap-on by 1,416.5% in the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 147,657 shares of the company's stock valued at $42,649,000 after purchasing an additional 137,920 shares in the last quarter. FMR LLC boosted its stake in Snap-on by 229.8% during the third quarter. FMR LLC now owns 154,401 shares of the company's stock worth $39,381,000 after buying an additional 107,582 shares during the last quarter. Finally, Qube Research & Technologies Ltd grew its holdings in Snap-on by 388.0% in the 3rd quarter. Qube Research & Technologies Ltd now owns 127,656 shares of the company's stock valued at $32,560,000 after buying an additional 101,499 shares in the last quarter. Hedge funds and other institutional investors own 84.88% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have recently commented on SNA. Tigress Financial reiterated a "buy" rating and set a $336.00 price target on shares of Snap-on in a report on Friday, February 16th. Robert W. Baird cut their price target on shares of Snap-on from $295.00 to $282.00 and set a "neutral" rating for the company in a report on Friday, April 19th. Roth Mkm reiterated a "buy" rating and issued a $324.00 price objective on shares of Snap-on in a report on Thursday, April 18th. Finally, Barrington Research reissued an "outperform" rating and set a $325.00 target price on shares of Snap-on in a research note on Monday, April 15th. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $316.75.

Snap-on Trading Up 1.5 %

Snap-on stock traded up $4.20 during trading on Thursday, hitting $280.11. The company had a trading volume of 156,326 shares, compared to its average volume of 309,120. The company has a current ratio of 3.82, a quick ratio of 2.83 and a debt-to-equity ratio of 0.23. The company's 50 day simple moving average is $284.39 and its 200-day simple moving average is $279.78. Snap-on Incorporated has a 1-year low of $247.68 and a 1-year high of $298.49. The stock has a market cap of $14.77 billion, a price-to-earnings ratio of 14.60, a price-to-earnings-growth ratio of 1.87 and a beta of 1.00.

Snap-on (NYSE:SNA - Get Free Report) last issued its quarterly earnings data on Thursday, April 18th. The company reported $4.75 earnings per share for the quarter, beating analysts' consensus estimates of $4.66 by $0.09. Snap-on had a return on equity of 20.46% and a net margin of 21.69%. The business had revenue of $1.18 billion during the quarter, compared to analysts' expectations of $1.20 billion. During the same period in the previous year, the firm posted $4.60 earnings per share. The company's revenue was down .1% on a year-over-year basis. As a group, analysts expect that Snap-on Incorporated will post 19.02 EPS for the current fiscal year.

Snap-on Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 10th. Stockholders of record on Monday, May 20th will be paid a $1.86 dividend. This represents a $7.44 annualized dividend and a dividend yield of 2.66%. The ex-dividend date of this dividend is Friday, May 17th. Snap-on's payout ratio is 39.03%.

Insiders Place Their Bets

In other news, SVP Jesus Arregui sold 2,562 shares of the business's stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $269.35, for a total transaction of $690,074.70. Following the completion of the transaction, the senior vice president now directly owns 8,663 shares of the company's stock, valued at $2,333,379.05. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other Snap-on news, SVP Jesus Arregui sold 2,562 shares of Snap-on stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $269.35, for a total transaction of $690,074.70. Following the completion of the sale, the senior vice president now directly owns 8,663 shares of the company's stock, valued at approximately $2,333,379.05. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Richard Thomas Miller sold 704 shares of the company's stock in a transaction dated Thursday, March 28th. The stock was sold at an average price of $298.16, for a total value of $209,904.64. Following the transaction, the vice president now directly owns 3,213 shares of the company's stock, valued at $957,988.08. The disclosure for this sale can be found here. Insiders have sold a total of 49,930 shares of company stock worth $14,089,523 in the last ninety days. 4.10% of the stock is owned by corporate insiders.

Snap-on Company 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.