CWA Asset Management Group LLC Buys 1,227 Shares of Snap-on Incorporated (NYSE:SNA)

CWA Asset Management Group LLC raised its stake in Snap-on Incorporated (NYSE:SNA) by 30.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 5,281 shares of the company’s stock after acquiring an additional 1,227 shares during the quarter. CWA Asset Management Group LLC’s holdings in Snap-on were worth $1,793,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Reston Wealth Management LLC bought a new stake in Snap-on in the 3rd quarter valued at $30,000. Massmutual Trust Co. FSB ADV boosted its position in shares of Snap-on by 53.0% in the third quarter. Massmutual Trust Co. FSB ADV now owns 127 shares of the company’s stock valued at $37,000 after acquiring an additional 44 shares during the period. Brooklyn Investment Group acquired a new position in shares of Snap-on in the third quarter valued at about $39,000. Quarry LP increased its position in Snap-on by 244.7% during the second quarter. Quarry LP now owns 162 shares of the company’s stock worth $42,000 after acquiring an additional 115 shares during the period. Finally, nVerses Capital LLC acquired a new stake in Snap-on in the 3rd quarter worth about $58,000. 84.88% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, VP Richard Thomas Miller sold 1,750 shares of the company’s stock in a transaction dated Friday, October 18th. The stock was sold at an average price of $330.00, for a total transaction of $577,500.00. Following the sale, the vice president now owns 3,218 shares in the company, valued at $1,061,940. This represents a 35.23 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Iain Boyd sold 6,044 shares of the business’s stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $298.99, for a total value of $1,807,095.56. Following the completion of the transaction, the vice president now directly owns 10,493 shares in the company, 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 sold a total of 52,723 shares of company stock valued at $18,029,670 in the last three months. Insiders own 4.10% of the company’s stock.

Analysts Set New Price Targets

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

Snap-on Stock Performance

NYSE:SNA opened at $334.23 on Tuesday. Snap-on Incorporated has a twelve month low of $252.98 and a twelve month high of $373.89. The company has a quick ratio of 3.14, a current ratio of 4.18 and a debt-to-equity ratio of 0.22. The stock’s 50-day simple moving average is $351.32 and its 200 day simple moving average is $305.75. The firm has a market capitalization of $17.55 billion, a PE ratio of 17.20, a price-to-earnings-growth ratio of 2.35 and a beta of 1.00.

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 analysts’ consensus estimates 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. On average, analysts anticipate that Snap-on Incorporated will post 19.05 EPS for the current fiscal year.

Snap-on Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Investors of record on Thursday, November 21st were issued a $2.14 dividend. This represents a $8.56 dividend on an annualized basis and a yield of 2.56%. This is an increase from Snap-on’s previous quarterly dividend of $1.86. The ex-dividend date was Thursday, November 21st. Snap-on’s dividend payout ratio is presently 44.06%.

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.