Merit Financial Group LLC Buys New Position in Snap-on Incorporated (NYSE:SNA)

Merit Financial Group LLC acquired a new stake in Snap-on Incorporated (NYSE:SNA) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor acquired 1,210 shares of the company’s stock, valued at approximately $411,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of SNA. Aurora Investment Counsel increased its position in Snap-on by 0.9% during the 3rd quarter. Aurora Investment Counsel now owns 3,549 shares of the company’s stock valued at $1,028,000 after purchasing an additional 30 shares during the period. Lake Street Advisors Group LLC increased its stake in Snap-on by 3.1% during the 3rd quarter. Lake Street Advisors Group LLC now owns 1,074 shares of the company’s stock valued at $311,000 after purchasing an additional 32 shares in the last quarter. Metis Global Partners LLC raised its holdings in Snap-on by 1.9% in the 3rd quarter. Metis Global Partners LLC now owns 1,691 shares of the company’s stock worth $490,000 after acquiring an additional 32 shares during the last quarter. Tradition Wealth Management LLC boosted its position in shares of Snap-on by 3.1% during the third quarter. Tradition Wealth Management LLC now owns 1,154 shares of the company’s stock valued at $334,000 after buying an additional 35 shares during the last quarter. Finally, Ritholtz Wealth Management grew its stake in shares of Snap-on by 3.5% in the fourth quarter. Ritholtz Wealth Management now owns 1,023 shares of the company’s stock worth $347,000 after acquiring an additional 35 shares during the period. 84.88% of the stock is owned by institutional investors.

Insider Buying and Selling at Snap-on

In other Snap-on news, VP June C. Lemerand sold 3,500 shares of the firm’s stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $362.86, for a total transaction of $1,270,010.00. Following the completion of the transaction, the vice president now directly owns 2,289 shares of the company’s stock, valued at approximately $830,586.54. This trade represents a 60.46 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Thomas J. Ward sold 12,737 shares of Snap-on stock in a transaction that occurred on Monday, October 28th. The shares were sold at an average price of $333.21, for a total transaction of $4,244,095.77. Following the sale, the senior vice president now owns 55,401 shares of the company’s stock, valued at approximately $18,460,167.21. The trade was a 18.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 44,929 shares of company stock valued at $15,645,074. 4.10% of the stock is currently owned by corporate insiders.

Snap-on Trading Down 0.2 %

Shares of SNA opened at $350.84 on Friday. Snap-on Incorporated has a 1-year low of $252.98 and a 1-year high of $373.89. The firm has a market capitalization of $18.42 billion, a price-to-earnings ratio of 18.06, a PEG ratio of 2.23 and a beta of 1.00. The company has a 50-day moving average of $350.60 and a 200 day moving average of $312.63. The company has a debt-to-equity ratio of 0.22, a current ratio of 4.18 and a quick ratio of 3.14.

Snap-on Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Thursday, November 21st were given a dividend of $2.14 per share. 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. This represents a $8.56 dividend on an annualized basis and a yield of 2.44%. Snap-on’s dividend payout ratio (DPR) is 44.06%.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on SNA shares. Barrington Research increased their target price on Snap-on from $325.00 to $350.00 and gave the company an “outperform” rating in a report on Thursday, October 17th. Roth Mkm lifted their target price on shares of Snap-on from $324.00 to $365.00 and gave the company a “buy” rating in a research note on Tuesday, October 22nd. Bank of America increased their price objective on shares of Snap-on from $255.00 to $280.00 and gave the company an “underperform” rating in a report on Friday, October 18th. Tigress Financial increased their price target on Snap-on from $336.00 to $385.00 and gave the company a “buy” rating in a research note on Friday, October 25th. Finally, Robert W. Baird lifted 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. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, Snap-on has an average rating of “Hold” and a consensus 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.