885 Shares in Snap-on Incorporated (NYSE:SNA) Bought by Ibex Wealth Advisors

Ibex Wealth Advisors purchased a new stake in shares of Snap-on Incorporated (NYSE:SNA) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 885 shares of the company’s stock, valued at approximately $300,000.

Other large investors also recently bought and sold shares of the company. Public Sector Pension Investment Board boosted its holdings in Snap-on by 78.0% during the second quarter. Public Sector Pension Investment Board now owns 2,029 shares of the company’s stock worth $530,000 after buying an additional 889 shares in the last quarter. MBB Public Markets I LLC acquired a new stake in shares of Snap-on during the 2nd quarter valued at about $869,000. Millennium Management LLC increased its stake in shares of Snap-on by 1,786.4% in the 2nd quarter. Millennium Management LLC now owns 161,175 shares of the company’s stock valued at $42,130,000 after purchasing an additional 152,631 shares in the last quarter. The Manufacturers Life Insurance Company raised its holdings in Snap-on by 1.7% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 43,710 shares of the company’s stock worth $11,425,000 after purchasing an additional 746 shares during the period. Finally, Creative Planning boosted its position in Snap-on by 16.8% during the second quarter. Creative Planning now owns 9,463 shares of the company’s stock worth $2,473,000 after purchasing an additional 1,361 shares in the last quarter. 84.88% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the stock. Tigress Financial increased their price objective on shares of Snap-on from $336.00 to $385.00 and gave the company a “buy” rating in a report on Friday, October 25th. Bank of America lifted their price objective on Snap-on from $255.00 to $280.00 and gave the stock an “underperform” rating in a report on Friday, October 18th. Robert W. Baird increased their target price on Snap-on from $290.00 to $347.00 and gave the company a “neutral” rating in a report on Friday, October 18th. Roth Mkm lifted their price target on Snap-on from $324.00 to $365.00 and gave the stock a “buy” rating in a research note on Tuesday, October 22nd. Finally, Barrington Research increased 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. One analyst has rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $345.40.

Insider Activity at Snap-on

In related news, CFO Aldo John Pagliari sold 6,909 shares of the company’s stock in a transaction that occurred on Wednesday, December 18th. The shares were sold at an average price of $347.62, for a total transaction 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 $34,994,210.16. This represents a 6.42 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Nicholas T. Pinchuk sold 21,783 shares of the firm’s stock in a transaction that occurred on Monday, December 9th. The shares were 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 directly owns 769,738 shares of the company’s stock, valued at $273,126,134.54. This represents a 2.75 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 32,192 shares of company stock worth $11,400,978. 4.10% of the stock is currently owned by company insiders.

Snap-on Price Performance

Snap-on stock opened at $353.56 on Thursday. The company has a market capitalization of $18.57 billion, a price-to-earnings ratio of 18.20, a price-to-earnings-growth ratio of 2.21 and a beta of 1.00. The company has a debt-to-equity ratio of 0.22, a quick ratio of 3.14 and a current ratio of 4.18. Snap-on Incorporated has a 1 year low of $252.98 and a 1 year high of $373.89. The company’s 50 day simple moving average is $350.25 and its 200-day simple moving average is $315.50.

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 paid a $2.14 dividend. The ex-dividend date of this dividend was Thursday, November 21st. This is a boost from Snap-on’s previous quarterly dividend of $1.86. This represents a $8.56 dividend on an annualized basis and a dividend yield of 2.42%. Snap-on’s payout ratio is presently 44.06%.

About Snap-on

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.