Burney Co. Grows Holdings in Snap-on Incorporated (NYSE:SNA)

Burney Co. increased its stake in shares of Snap-on Incorporated (NYSE:SNA) by 0.8% in the fourth quarter, HoldingsChannel.com reports. The firm owned 28,186 shares of the company’s stock after buying an additional 210 shares during the period. Burney Co.’s holdings in Snap-on were worth $9,569,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Reston Wealth Management LLC purchased a new position in shares of Snap-on during the third quarter worth $30,000. Massmutual Trust Co. FSB ADV lifted its stake in Snap-on by 53.0% during the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 127 shares of the company’s stock worth $37,000 after acquiring an additional 44 shares in the last quarter. Brooklyn Investment Group purchased a new position in Snap-on during the 3rd quarter valued at about $39,000. Quarry LP grew its position in Snap-on by 244.7% in the 2nd quarter. Quarry LP now owns 162 shares of the company’s stock valued at $42,000 after acquiring an additional 115 shares in the last quarter. Finally, nVerses Capital LLC purchased a new stake in Snap-on during the third quarter worth about $58,000. Institutional investors and hedge funds own 84.88% of the company’s stock.

Snap-on Price Performance

Snap-on stock opened at $345.02 on Wednesday. The company has a current ratio of 4.18, a quick ratio of 3.14 and a debt-to-equity ratio of 0.22. The company has a fifty day simple moving average of $351.87 and a 200-day simple moving average of $308.86. The stock has a market cap of $18.12 billion, a P/E ratio of 17.76, a price-to-earnings-growth ratio of 2.35 and a beta of 1.00. Snap-on Incorporated has a 12-month low of $252.98 and a 12-month high of $373.89.

Snap-on (NYSE:SNA) last released its quarterly earnings data on Thursday, October 17th. The company reported $4.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.58 by $0.12. Snap-on had a return on equity of 19.44% and a net margin of 22.13%. The business had revenue of $1.15 billion during the quarter, compared to analysts’ expectations of $1.16 billion. Equities analysts expect that Snap-on Incorporated will post 19.05 EPS for the current fiscal year.

Snap-on Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 10th. Investors of record on Thursday, November 21st were given a $2.14 dividend. This represents a $8.56 dividend on an annualized basis and a dividend yield of 2.48%. This is an increase from Snap-on’s previous quarterly dividend of $1.86. The ex-dividend date of this dividend was Thursday, November 21st. Snap-on’s dividend payout ratio (DPR) is 44.06%.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the stock. Barrington Research raised their price objective on shares of Snap-on from $325.00 to $350.00 and gave the company an “outperform” rating in a research note on Thursday, October 17th. Roth Mkm raised their price target on shares of Snap-on from $324.00 to $365.00 and gave the company a “buy” rating in a research report on Tuesday, October 22nd. Bank of America upped their price objective on Snap-on from $255.00 to $280.00 and gave the stock an “underperform” rating in a research report on Friday, October 18th. Tigress Financial lifted their target price on Snap-on from $336.00 to $385.00 and gave the company a “buy” rating in a report on Friday, October 25th. Finally, Robert W. Baird upped their price target on Snap-on from $290.00 to $347.00 and gave the stock a “neutral” rating in a report on Friday, October 18th. One 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 stock. According to data from MarketBeat, Snap-on has a consensus rating of “Hold” and an average target price of $345.40.

Insider Buying and Selling

In other news, CFO Aldo John Pagliari sold 6,909 shares of Snap-on stock in a transaction dated Wednesday, December 18th. The stock was sold at an average price of $347.62, for a total transaction of $2,401,706.58. Following the sale, the chief financial officer now owns 100,668 shares in the company, valued at approximately $34,994,210.16. The trade was a 6.42 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Richard Thomas Miller sold 1,750 shares of the company’s stock in a transaction dated Friday, October 18th. The shares were sold at an average price of $330.00, for a total value of $577,500.00. Following the completion of the sale, the vice president now directly owns 3,218 shares of the company’s stock, valued at approximately $1,061,940. This trade represents a 35.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 46,679 shares of company stock worth $16,222,574 in the last ninety days. 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.