MFA Wealth Services Acquires New Position in Snap-on Incorporated (NYSE:SNA)

MFA Wealth Services bought a new position in shares of Snap-on Incorporated (NYSE:SNA) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 1,292 shares of the company’s stock, valued at approximately $438,000.

Several other large investors have also added to or reduced their stakes in the company. UMB Bank n.a. lifted its stake in shares of Snap-on by 70.5% during the 4th quarter. UMB Bank n.a. now owns 75 shares of the company’s stock valued at $25,000 after buying an additional 31 shares in the last quarter. Reston Wealth Management LLC bought a new stake in Snap-on during the third quarter valued at about $30,000. Massmutual Trust Co. FSB ADV lifted its position 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 acquiring an additional 44 shares in the last quarter. Brooklyn Investment Group bought a new position in shares of Snap-on in the third quarter worth about $39,000. Finally, Quarry LP grew its position in shares of Snap-on by 244.7% during the second quarter. Quarry LP now owns 162 shares of the company’s stock worth $42,000 after purchasing an additional 115 shares in the last quarter. Hedge funds and other institutional investors own 84.88% of the company’s stock.

Analyst Ratings Changes

SNA has been the subject of several recent analyst reports. Robert W. Baird upped their price target on Snap-on from $290.00 to $347.00 and gave the stock a “neutral” rating in a research note on Friday, October 18th. Tigress Financial raised their target price on shares of Snap-on from $336.00 to $385.00 and gave the company a “buy” rating in a research note on Friday, October 25th. Bank of America boosted their price target on shares of Snap-on from $255.00 to $280.00 and gave the stock an “underperform” rating in a research note on Friday, October 18th. Roth Mkm raised their price objective on Snap-on from $324.00 to $365.00 and gave the company a “buy” rating in a research report on Tuesday, October 22nd. Finally, Barrington Research increased their price target on Snap-on from $325.00 to $350.00 and gave the company an “outperform” rating in a research note on Thursday, October 17th. One research 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’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $345.40.

Insider Activity at Snap-on

In other Snap-on news, CEO Nicholas T. Pinchuk sold 21,783 shares of the business’s stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $354.83, for a total transaction of $7,729,261.89. Following the completion of the transaction, the chief executive officer now owns 769,738 shares in the company, valued at $273,126,134.54. The trade was a 2.75 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Thomas J. Ward sold 12,737 shares of the stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $333.21, for a total value of $4,244,095.77. Following the completion of the sale, the senior vice president now owns 55,401 shares in the company, 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 worth $15,645,074. Company insiders own 4.10% of the company’s stock.

Snap-on Stock Down 0.2 %

Shares of NYSE:SNA opened at $350.84 on Friday. The company has a 50-day moving average price of $350.60 and a 200 day moving average price of $312.63. The company has a current ratio of 4.18, a quick ratio of 3.14 and a debt-to-equity ratio of 0.22. 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 $18.42 billion, a price-to-earnings ratio of 18.06, a PEG ratio of 2.21 and a beta of 1.00.

Snap-on Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Thursday, November 21st were issued a $2.14 dividend. This is a boost 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 dividend yield of 2.44%. Snap-on’s payout ratio is 44.06%.

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.