Snap-on Incorporated (NYSE:SNA) Shares Bought by Brookstone Capital Management

Brookstone Capital Management grew its stake in shares of Snap-on Incorporated (NYSE:SNA) by 64.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,830 shares of the company’s stock after acquiring an additional 714 shares during the period. Brookstone Capital Management’s holdings in Snap-on were worth $621,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Reston Wealth Management LLC purchased a new stake in Snap-on during the third quarter worth $30,000. Massmutual Trust Co. FSB ADV raised its stake in shares of 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 buying an additional 44 shares during the last quarter. Brooklyn Investment Group purchased a new stake in shares of Snap-on in the 3rd quarter worth about $39,000. Quarry LP grew its stake 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 during the last quarter. Finally, nVerses Capital LLC purchased a new position in Snap-on during the 3rd quarter valued at about $58,000. Hedge funds and other institutional investors own 84.88% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Snap-on Stock Up 0.7 %

Shares of NYSE SNA opened at $348.17 on Friday. 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 has a market capitalization of $18.28 billion, a PE ratio of 17.92, a P/E/G ratio of 2.09 and a beta of 1.00. The firm has a fifty day moving average of $351.33 and a 200-day moving average of $310.00. Snap-on Incorporated has a 52-week low of $252.98 and a 52-week high of $373.89.

Snap-on (NYSE:SNA) last announced its quarterly earnings results on Thursday, October 17th. The company reported $4.70 EPS for the quarter, topping the consensus estimate of $4.58 by $0.12. The company 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%. On average, analysts anticipate that Snap-on Incorporated will post 19.05 EPS for the current year.

Snap-on Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Thursday, November 21st were given a $2.14 dividend. The ex-dividend date of this dividend was Thursday, November 21st. This is a positive change from Snap-on’s previous quarterly dividend of $1.86. This represents a $8.56 annualized dividend and a yield of 2.46%. Snap-on’s dividend payout ratio (DPR) is 44.06%.

Insiders Place Their Bets

In other Snap-on news, CEO Nicholas T. Pinchuk sold 21,783 shares of the stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $354.83, for a total value of $7,729,261.89. Following the completion of the sale, the chief executive officer now owns 769,738 shares of the company’s stock, valued at $273,126,134.54. This trade represents a 2.75 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Aldo John Pagliari sold 6,909 shares of the firm’s stock in a transaction on Wednesday, December 18th. The shares were 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 directly owns 100,668 shares of the company’s stock, valued at approximately $34,994,210.16. The trade was a 6.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 44,929 shares of company stock worth $15,645,074 over the last quarter. 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.