Alley Investment Management Company LLC Grows Holdings in Snap-on Incorporated (NYSE:SNA)

Alley Investment Management Company LLC lifted its holdings in Snap-on Incorporated (NYSE:SNA) by 3.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 25,846 shares of the company’s stock after buying an additional 905 shares during the quarter. Alley Investment Management Company LLC’s holdings in Snap-on were worth $8,774,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of SNA. First Trust Direct Indexing L.P. grew its position in shares of Snap-on by 11.6% in the 3rd quarter. First Trust Direct Indexing L.P. now owns 1,348 shares of the company’s stock worth $391,000 after buying an additional 140 shares during the period. Pinnacle Associates Ltd. purchased a new stake in Snap-on during the 3rd quarter valued at about $214,000. Janney Montgomery Scott LLC grew its position in Snap-on by 2.0% during the 3rd quarter. Janney Montgomery Scott LLC now owns 23,102 shares of the company’s stock valued at $6,693,000 after purchasing an additional 455 shares during the last quarter. Van ECK Associates Corp grew its position in Snap-on by 11.0% during the 3rd quarter. Van ECK Associates Corp now owns 9,617 shares of the company’s stock valued at $2,786,000 after purchasing an additional 953 shares during the last quarter. Finally, National Pension Service grew its position in Snap-on by 4.3% during the 3rd quarter. National Pension Service now owns 113,516 shares of the company’s stock valued at $32,887,000 after purchasing an additional 4,710 shares during the last quarter. 84.88% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Snap-on

In other news, VP June C. Lemerand sold 3,500 shares of the stock in a transaction that occurred 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 transaction, the vice president now owns 2,289 shares in the company, valued at $830,586.54. This represents a 60.46 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Nicholas T. Pinchuk sold 21,783 shares of the stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $354.83, for a total transaction of $7,729,261.89. Following the completion of the transaction, the chief executive officer now owns 769,738 shares in the company, valued at $273,126,134.54. This trade represents a 2.75 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 45,503 shares of company stock worth $15,906,074. 4.10% of the stock is owned by insiders.

Snap-on Price Performance

SNA opened at $333.45 on Tuesday. The company’s 50-day simple moving average is $343.25 and its two-hundred day simple moving average is $326.29. The company has a debt-to-equity ratio of 0.22, a quick ratio of 3.17 and a current ratio of 4.15. The stock has a market capitalization of $17.47 billion, a P/E ratio of 17.10, a P/E/G ratio of 2.21 and a beta of 0.99. Snap-on Incorporated has a 52-week low of $252.98 and a 52-week high of $373.89.

Snap-on (NYSE:SNA) last issued its quarterly earnings data on Thursday, February 6th. The company reported $4.82 earnings per share for the quarter, beating analysts’ consensus estimates of $4.78 by $0.04. Snap-on had a net margin of 21.71% and a return on equity of 19.20%. During the same quarter in the prior year, the business earned $4.75 EPS. As a group, analysts predict that Snap-on Incorporated will post 19.79 EPS for the current year.

Snap-on Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Monday, February 24th will be issued a $2.14 dividend. This represents a $8.56 annualized dividend and a dividend yield of 2.57%. The ex-dividend date is Monday, February 24th. Snap-on’s payout ratio is currently 43.90%.

Wall Street Analysts Forecast Growth

Separately, Barrington Research reissued an “outperform” rating and set a $350.00 price target on shares of Snap-on in a research report on Monday, February 10th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $345.40.

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.