Pine Valley Investments Ltd Liability Co Invests $208,000 in Snap-on Incorporated (NYSE:SNA)

Pine Valley Investments Ltd Liability Co acquired a new stake in shares of Snap-on Incorporated (NYSE:SNA) during the third quarter, according to its most recent filing with the SEC. The fund acquired 717 shares of the company’s stock, valued at approximately $208,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in SNA. Reston Wealth Management LLC purchased a new position in Snap-on during the 3rd quarter valued at about $30,000. Innealta Capital LLC purchased a new position in Snap-on during the second quarter valued at approximately $32,000. Massmutual Trust Co. FSB ADV increased its holdings 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 during the period. Brooklyn Investment Group purchased a new stake in Snap-on in the 3rd quarter worth approximately $39,000. Finally, Quarry LP boosted its holdings 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 purchasing an additional 115 shares during the period. 84.88% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Snap-on news, VP June C. Lemerand sold 3,500 shares of the firm’s stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $362.86, for a total value of $1,270,010.00. Following the sale, the vice president now owns 2,289 shares of the company’s stock, valued at $830,586.54. This trade represents a 60.46 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Iain Boyd sold 6,044 shares of the company’s stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $298.99, for a total transaction of $1,807,095.56. Following the transaction, the vice president now directly owns 10,493 shares of the company’s stock, valued at approximately $3,137,302.07. This trade represents a 36.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 45,814 shares of company stock worth $15,627,963 in the last 90 days. 4.10% of the stock is owned by company insiders.

Analysts Set New Price Targets

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

Snap-on Price Performance

SNA opened at $355.11 on Friday. 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 stock has a market capitalization of $18.65 billion, a P/E ratio of 18.28, a PEG ratio of 2.35 and a beta of 0.98. The stock has a 50-day moving average price of $340.72 and a 200-day moving average price of $297.02. Snap-on Incorporated has a 12-month low of $252.98 and a 12-month high of $373.89.

Snap-on (NYSE:SNA) last issued its earnings results 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. The business had revenue of $1.15 billion during the quarter, compared to analyst estimates of $1.16 billion. Snap-on had a return on equity of 19.44% and a net margin of 22.13%. Equities analysts predict that Snap-on Incorporated will post 19.05 earnings per share for the current fiscal year.

Snap-on Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 10th. Investors of record on Thursday, November 21st were issued a dividend of $2.14 per share. The ex-dividend date of this dividend was Thursday, November 21st. This represents a $8.56 annualized dividend and a dividend yield of 2.41%. This is a positive change from Snap-on’s previous quarterly dividend of $1.86. Snap-on’s dividend payout ratio (DPR) is currently 44.06%.

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.