Townsend & Associates Inc Purchases 20,155 Shares of Snap-on Incorporated (NYSE:SNA)

Townsend & Associates Inc grew its position in shares of Snap-on Incorporated (NYSE:SNA) by 60.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 53,305 shares of the company’s stock after buying an additional 20,155 shares during the quarter. Snap-on makes up about 1.9% of Townsend & Associates Inc’s investment portfolio, making the stock its 15th biggest position. Townsend & Associates Inc owned 0.10% of Snap-on worth $15,260,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of SNA. Avantax Planning Partners Inc. increased its holdings in Snap-on by 3.5% during the 3rd quarter. Avantax Planning Partners Inc. now owns 1,131 shares of the company’s stock valued at $288,000 after purchasing an additional 38 shares in the last quarter. Phoenix Wealth Advisors increased its stake in shares of Snap-on by 3.1% in the third quarter. Phoenix Wealth Advisors now owns 1,309 shares of the company’s stock valued at $334,000 after buying an additional 39 shares in the last quarter. Venturi Wealth Management LLC raised its holdings in shares of Snap-on by 17.2% in the fourth quarter. Venturi Wealth Management LLC now owns 272 shares of the company’s stock valued at $79,000 after buying an additional 40 shares during the last quarter. Alliance Wealth Advisors LLC UT lifted its position in Snap-on by 0.5% during the 4th quarter. Alliance Wealth Advisors LLC UT now owns 8,664 shares of the company’s stock worth $2,503,000 after buying an additional 47 shares in the last quarter. Finally, Contravisory Investment Management Inc. grew its holdings in Snap-on by 2.5% during the 4th quarter. Contravisory Investment Management Inc. now owns 1,973 shares of the company’s stock worth $570,000 after acquiring an additional 48 shares during the last quarter. Institutional investors and hedge funds own 84.88% of the company’s stock.

Insider Transactions at Snap-on

In related news, CFO Aldo John Pagliari sold 3,231 shares of the firm’s stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $270.58, for a total transaction of $874,243.98. Following the sale, the chief financial officer now owns 93,183 shares of the company’s stock, valued at approximately $25,213,456.14. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, CEO Nicholas T. Pinchuk sold 23,514 shares of the stock in a transaction that occurred on Tuesday, March 19th. The stock was sold at an average price of $287.48, for a total transaction of $6,759,804.72. Following the completion of the sale, the chief executive officer now directly owns 742,383 shares of the company’s stock, valued at approximately $213,420,264.84. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Aldo John Pagliari sold 3,231 shares of Snap-on stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $270.58, for a total transaction of $874,243.98. Following the completion of the transaction, the chief financial officer now directly owns 93,183 shares in the company, valued at approximately $25,213,456.14. The disclosure for this sale can be found here. Insiders have sold a total of 49,930 shares of company stock valued at $14,089,523 over the last three months. 4.10% of the stock is currently owned by corporate insiders.

Snap-on Trading Up 0.9 %

Shares of Snap-on stock traded up $2.38 on Thursday, hitting $278.29. 60,121 shares of the company’s stock traded hands, compared to its average volume of 308,014. Snap-on Incorporated has a one year low of $247.68 and a one year high of $298.49. The company has a debt-to-equity ratio of 0.23, a current ratio of 3.82 and a quick ratio of 2.83. The stock has a market capitalization of $14.67 billion, a PE ratio of 14.55, a price-to-earnings-growth ratio of 1.87 and a beta of 1.00. The firm’s 50-day moving average price is $284.39 and its two-hundred day moving average price is $279.78.

Snap-on (NYSE:SNA) last released its earnings results on Thursday, April 18th. The company reported $4.75 earnings per share for the quarter, beating the consensus estimate of $4.66 by $0.09. The firm had revenue of $1.18 billion for the quarter, compared to analyst estimates of $1.20 billion. Snap-on had a return on equity of 20.46% and a net margin of 21.69%. The company’s quarterly revenue was down .1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $4.60 earnings per share. On average, research analysts expect that Snap-on Incorporated will post 19.02 EPS for the current fiscal year.

Snap-on Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 10th. Shareholders of record on Monday, May 20th will be issued a $1.86 dividend. The ex-dividend date of this dividend is Friday, May 17th. This represents a $7.44 annualized dividend and a yield of 2.67%. Snap-on’s dividend payout ratio (DPR) is presently 39.03%.

Analyst Ratings Changes

SNA has been the subject of a number of research analyst reports. Roth Mkm reaffirmed a “buy” rating and issued a $324.00 target price on shares of Snap-on in a research note on Thursday, April 18th. Tigress Financial reaffirmed a “buy” rating and set a $336.00 price objective on shares of Snap-on in a report on Friday, February 16th. Barrington Research reissued an “outperform” rating and issued a $325.00 target price on shares of Snap-on in a research note on Monday, April 15th. Finally, Robert W. Baird cut their price target on Snap-on from $295.00 to $282.00 and set a “neutral” rating on the stock in a research note on Friday, April 19th. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $316.75.

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.