Kennedy Capital Management LLC Invests $234,000 in Snap-on Incorporated (NYSE:SNA)

Kennedy Capital Management LLC purchased a new stake in shares of Snap-on Incorporated (NYSE:SNA) during the 4th quarter, according to its most recent filing with the SEC. The institutional investor purchased 688 shares of the company’s stock, valued at approximately $234,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings in shares of Snap-on by 0.3% in the fourth quarter. Vanguard Group Inc. now owns 6,404,599 shares of the company’s stock worth $2,174,233,000 after purchasing an additional 19,328 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in Snap-on by 4.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,806,278 shares of the company’s stock worth $613,195,000 after acquiring an additional 77,486 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Snap-on by 1.7% during the fourth quarter. Geode Capital Management LLC now owns 1,641,159 shares of the company’s stock worth $556,022,000 after acquiring an additional 27,700 shares during the period. Nordea Investment Management AB boosted its holdings in shares of Snap-on by 12.8% in the fourth quarter. Nordea Investment Management AB now owns 1,128,317 shares of the company’s stock valued at $384,813,000 after purchasing an additional 127,859 shares during the period. Finally, Envestnet Asset Management Inc. grew its stake in Snap-on by 2.1% in the fourth quarter. Envestnet Asset Management Inc. now owns 759,429 shares of the company’s stock worth $257,811,000 after purchasing an additional 15,591 shares in the last quarter. 84.88% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on SNA. Tigress Financial increased their price target on Snap-on from $385.00 to $390.00 and gave the stock a “buy” rating in a research report on Tuesday, March 4th. Robert W. Baird dropped their target price on shares of Snap-on from $358.00 to $349.00 and set a “neutral” rating on the stock in a report on Tuesday. Barrington Research restated an “outperform” rating and issued a $350.00 price target on shares of Snap-on in a report on Friday, April 11th. Finally, Longbow Research raised shares of Snap-on from a “neutral” rating to a “buy” rating and set a $400.00 price objective on the stock in a report on Monday, March 31st. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $355.67.

Snap-on Stock Up 0.1 %

Shares of Snap-on stock opened at $337.31 on Wednesday. The company has a quick ratio of 3.17, a current ratio of 4.15 and a debt-to-equity ratio of 0.22. The company has a market cap of $17.68 billion, a P/E ratio of 17.30, a PEG ratio of 2.21 and a beta of 0.84. The firm’s 50 day moving average price is $333.12 and its 200-day moving average price is $337.49. Snap-on Incorporated has a 52-week low of $252.98 and a 52-week high of $373.90.

Snap-on (NYSE:SNA) last released its quarterly earnings results on Thursday, February 6th. The company reported $4.82 EPS for the quarter, beating analysts’ consensus estimates of $4.78 by $0.04. Snap-on had a return on equity of 19.20% and a net margin of 21.71%. During the same period in the previous year, the firm earned $4.75 earnings per share. On average, sell-side analysts predict that Snap-on Incorporated will post 19.79 EPS for the current fiscal year.

Snap-on Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Monday, February 24th were paid a dividend of $2.14 per share. The ex-dividend date was Monday, February 24th. This represents a $8.56 dividend on an annualized basis and a yield of 2.54%. Snap-on’s payout ratio is 43.90%.

Insiders Place Their Bets

In other news, SVP Jesus Arregui sold 6,451 shares of the company’s stock in a transaction on Monday, February 10th. The shares were sold at an average price of $337.81, for a total value of $2,179,212.31. Following the sale, the senior vice president now directly owns 257 shares of the company’s stock, valued at $86,817.17. This represents a 96.17 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Nicholas T. Pinchuk sold 22,700 shares of the business’s stock in a transaction on Thursday, March 27th. The shares were sold at an average price of $335.32, for a total transaction of $7,611,764.00. Following the transaction, the chief executive officer now owns 793,932 shares of the company’s stock, valued at $266,221,278.24. This represents a 2.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 36,011 shares of company stock valued at $12,116,859. Insiders own 3.90% of the company’s stock.

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.