Allen Mooney & Barnes Investment Advisors LLC Takes $242,000 Position in Snap-on Incorporated (NYSE:SNA)

Allen Mooney & Barnes Investment Advisors LLC bought a new stake in Snap-on Incorporated (NYSE:SNA) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 713 shares of the company’s stock, valued at approximately $242,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Reston Wealth Management LLC acquired a new stake in Snap-on in the 3rd quarter valued at $30,000. Massmutual Trust Co. FSB ADV lifted its holdings 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 purchasing an additional 44 shares in the last quarter. Brooklyn Investment Group purchased a new position in shares of Snap-on during the third quarter valued at approximately $39,000. Quarry LP grew its holdings 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 buying an additional 115 shares in the last quarter. Finally, nVerses Capital LLC bought a new position in Snap-on during the 3rd quarter valued at $58,000. Institutional investors own 84.88% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Snap-on Stock Up 0.2 %

SNA opened at $339.73 on Wednesday. Snap-on Incorporated has a 12 month low of $252.98 and a 12 month high of $373.89. The company has a market cap of $17.84 billion, a PE ratio of 17.48, a price-to-earnings-growth ratio of 2.35 and a beta of 1.00. 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 company has a 50 day moving average of $351.87 and a 200 day moving average of $308.86.

Snap-on (NYSE:SNA) last announced its quarterly earnings results on Thursday, October 17th. The company reported $4.70 earnings per share for the quarter, beating the consensus estimate of $4.58 by $0.12. The company had revenue of $1.15 billion during the quarter, compared to analysts’ expectations of $1.16 billion. Snap-on had a return on equity of 19.44% and a net margin of 22.13%. On average, sell-side analysts expect that Snap-on Incorporated will post 19.05 EPS for the current year.

Snap-on Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Thursday, November 21st were issued a $2.14 dividend. This represents a $8.56 dividend on an annualized basis and a dividend yield of 2.52%. 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%.

Insider Activity

In other Snap-on news, CFO Aldo John Pagliari sold 6,909 shares of the stock in a transaction that occurred on Wednesday, December 18th. The stock was sold at an average price of $347.62, for a total value of $2,401,706.58. Following the completion of the sale, the chief financial officer now owns 100,668 shares in the company, valued at approximately $34,994,210.16. This trade represents a 6.42 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Richard Thomas Miller sold 1,750 shares of the firm’s stock in a transaction on Friday, October 18th. The stock was sold at an average price of $330.00, for a total value of $577,500.00. Following the completion of the sale, the vice president now directly owns 3,218 shares of the company’s stock, valued at $1,061,940. The trade was a 35.23 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 46,679 shares of company stock worth $16,222,574. 4.10% of the stock is owned by company insiders.

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.