MCF Advisors LLC Purchases 377 Shares of Snap-on Incorporated (NYSE:SNA)

MCF Advisors LLC boosted its position in Snap-on Incorporated (NYSE:SNA) by 40.7% during the fourth quarter, Holdings Channel.com reports. The fund owned 1,304 shares of the company’s stock after acquiring an additional 377 shares during the period. MCF Advisors LLC’s holdings in Snap-on were worth $443,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of SNA. Planned Solutions Inc. lifted its stake in Snap-on by 5.6% in the fourth quarter. Planned Solutions Inc. now owns 950 shares of the company’s stock worth $323,000 after acquiring an additional 50 shares during the period. Ballentine Partners LLC lifted its position in shares of Snap-on by 12.8% in the 4th quarter. Ballentine Partners LLC now owns 1,275 shares of the company’s stock worth $433,000 after purchasing an additional 145 shares during the period. ZWJ Investment Counsel Inc. boosted its stake in shares of Snap-on by 4.2% during the 4th quarter. ZWJ Investment Counsel Inc. now owns 1,791 shares of the company’s stock valued at $608,000 after purchasing an additional 73 shares in the last quarter. UMB Bank n.a. increased its position in shares of Snap-on by 70.5% during the fourth quarter. UMB Bank n.a. now owns 75 shares of the company’s stock valued at $25,000 after buying an additional 31 shares during the period. Finally, Trueblood Wealth Management LLC raised its stake in Snap-on by 1.8% in the fourth quarter. Trueblood Wealth Management LLC now owns 3,667 shares of the company’s stock worth $1,245,000 after buying an additional 65 shares in the last quarter. Hedge funds and other institutional investors own 84.88% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have commented on SNA shares. Robert W. Baird raised 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. Bank of America raised their price objective on shares of Snap-on from $255.00 to $280.00 and gave the company an “underperform” rating in a research note on Friday, October 18th. Roth Mkm boosted their price objective on shares of Snap-on from $324.00 to $365.00 and gave the stock a “buy” rating in a report on Tuesday, October 22nd. Tigress Financial upped their price target on Snap-on from $336.00 to $385.00 and gave the company a “buy” rating in a report on Friday, October 25th. Finally, Barrington Research boosted their price objective on shares of Snap-on from $325.00 to $350.00 and gave the company an “outperform” rating in a report on Thursday, October 17th. One analyst has rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $345.40.

Snap-on Trading Up 1.7 %

Shares of Snap-on stock opened at $354.46 on Wednesday. Snap-on Incorporated has a 1-year low of $252.98 and a 1-year high of $373.89. The company’s fifty day simple moving average is $350.93 and its 200-day simple moving average is $312.09. The stock has a market capitalization of $18.61 billion, a PE ratio of 18.24, a P/E/G ratio of 2.19 and a beta of 1.00. 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 company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Thursday, November 21st were given a dividend of $2.14 per share. This represents a $8.56 annualized dividend and a dividend yield of 2.41%. 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 (DPR) is presently 44.06%.

Insiders Place Their Bets

In other news, CFO Aldo John Pagliari sold 6,909 shares of Snap-on stock in a transaction dated 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 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 sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Nicholas T. Pinchuk sold 21,783 shares of Snap-on stock in a transaction that occurred on Monday, December 9th. The stock was 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 directly owns 769,738 shares in the company, valued at approximately $273,126,134.54. The trade was a 2.75 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 44,929 shares of company stock worth $15,645,074. Corporate insiders own 4.10% of the company’s stock.

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.