BTC Capital Management Inc. Has $3.07 Million Stock Holdings in Snap-on Incorporated (NYSE:SNA)

BTC Capital Management Inc. lessened its holdings in shares of Snap-on Incorporated (NYSE:SNA) by 27.1% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 9,039 shares of the company’s stock after selling 3,362 shares during the period. BTC Capital Management Inc.’s holdings in Snap-on were worth $3,069,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of SNA. UMB Bank n.a. grew its position in Snap-on by 70.5% during the fourth quarter. UMB Bank n.a. now owns 75 shares of the company’s stock worth $25,000 after buying an additional 31 shares in the last quarter. Reston Wealth Management LLC acquired a new position in Snap-on during the third quarter worth $30,000. Massmutual Trust Co. FSB ADV lifted its holdings in Snap-on by 53.0% during the 3rd 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 during the last quarter. Brooklyn Investment Group bought a new position in shares of Snap-on in the third quarter valued at approximately $39,000. Finally, Quarry LP boosted its stake in Snap-on by 244.7% in 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. 84.88% of the stock is owned by institutional investors.

Snap-on Stock Performance

Shares of Snap-on stock opened at $358.34 on Friday. Snap-on Incorporated has a one year low of $252.98 and a one year high of $373.89. The company has a debt-to-equity ratio of 0.22, a current ratio of 4.18 and a quick ratio of 3.14. The stock’s 50-day moving average is $350.18 and its 200-day moving average is $315.80. The firm has a market cap of $18.82 billion, a price-to-earnings ratio of 18.44, a price-to-earnings-growth ratio of 2.22 and a beta of 1.00.

Snap-on Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 10th. Investors of record on Thursday, November 21st were given a $2.14 dividend. The ex-dividend date of this dividend was Thursday, November 21st. This represents a $8.56 dividend on an annualized basis and a yield of 2.39%. This is an increase from Snap-on’s previous quarterly dividend of $1.86. Snap-on’s dividend payout ratio (DPR) is 44.06%.

Wall Street Analysts Forecast Growth

SNA has been the topic of several research analyst reports. Barrington Research increased their price target on shares of 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 price target on shares of Snap-on from $290.00 to $347.00 and gave the stock a “neutral” rating in a research report on Friday, October 18th. 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. Roth Mkm lifted their price objective 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, Bank of America increased their target price 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 given a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $345.40.

Insiders Place Their Bets

In related news, CFO Aldo John Pagliari sold 6,909 shares of the business’s stock in a transaction 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 transaction, the chief financial officer now directly owns 100,668 shares in the company, 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 filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Nicholas T. Pinchuk sold 21,783 shares of the stock in a transaction 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 sale, the chief executive officer now owns 769,738 shares of the company’s stock, valued at approximately $273,126,134.54. This represents a 2.75 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 32,192 shares of company stock valued at $11,400,978 in the last three months. 4.10% of the stock is currently owned by corporate 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.