Winnow Wealth LLC Makes New $1.18 Million Investment in Snap-On Incorporated $SNA

Winnow Wealth LLC purchased a new position in shares of Snap-On Incorporated (NYSE:SNA) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 3,395 shares of the company’s stock, valued at approximately $1,178,000. Snap-On makes up approximately 0.9% of Winnow Wealth LLC’s holdings, making the stock its 23rd biggest holding.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Bryn Mawr Trust Advisors LLC lifted its stake in Snap-On by 0.6% in the third quarter. Bryn Mawr Trust Advisors LLC now owns 10,642 shares of the company’s stock worth $3,688,000 after acquiring an additional 64 shares during the period. AlphaQuest LLC increased its position in Snap-On by 188.9% during the 3rd quarter. AlphaQuest LLC now owns 2,519 shares of the company’s stock valued at $873,000 after purchasing an additional 1,647 shares during the period. Arizona State Retirement System raised its holdings in shares of Snap-On by 1.0% in the 3rd quarter. Arizona State Retirement System now owns 15,480 shares of the company’s stock valued at $5,364,000 after purchasing an additional 160 shares in the last quarter. AE Wealth Management LLC raised its holdings in shares of Snap-On by 8.0% in the 3rd quarter. AE Wealth Management LLC now owns 945 shares of the company’s stock valued at $327,000 after purchasing an additional 70 shares in the last quarter. Finally, New York State Common Retirement Fund lifted its position in shares of Snap-On by 0.6% in the 3rd quarter. New York State Common Retirement Fund now owns 96,880 shares of the company’s stock worth $33,572,000 after purchasing an additional 600 shares during the period. 84.88% of the stock is currently owned by institutional investors.

Snap-On Stock Performance

Shares of SNA stock opened at $366.09 on Friday. The business’s fifty day simple moving average is $353.39 and its 200-day simple moving average is $339.97. The company has a market cap of $19.04 billion, a PE ratio of 19.20, a PEG ratio of 2.57 and a beta of 0.80. The company has a current ratio of 4.40, a quick ratio of 3.37 and a debt-to-equity ratio of 0.20. Snap-On Incorporated has a 12-month low of $289.81 and a 12-month high of $375.27.

Snap-On Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, December 10th. Investors of record on Friday, November 21st were given a dividend of $2.44 per share. The ex-dividend date of this dividend was Friday, November 21st. This represents a $9.76 annualized dividend and a yield of 2.7%. This is an increase from Snap-On’s previous quarterly dividend of $2.14. Snap-On’s dividend payout ratio is currently 51.18%.

Insiders Place Their Bets

In other Snap-On news, CEO Nicholas T. Pinchuk sold 22,607 shares of the stock in a transaction dated Tuesday, December 2nd. The stock was sold at an average price of $339.15, for a total value of $7,667,164.05. Following the completion of the sale, the chief executive officer directly owned 826,364 shares in the company, valued at approximately $280,261,350.60. This trade represents a 2.66% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Richard Thomas Miller sold 2,000 shares of the business’s stock in a transaction dated Thursday, December 4th. The stock was sold at an average price of $348.27, for a total value of $696,540.00. Following the sale, the vice president owned 4,158 shares in the company, valued at $1,448,106.66. The trade was a 32.48% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 40,036 shares of company stock valued at $13,710,988. 3.90% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several brokerages recently issued reports on SNA. Tigress Financial lifted their price objective on shares of Snap-On from $395.00 to $405.00 and gave the company a “buy” rating in a report on Tuesday, October 21st. Wall Street Zen raised Snap-On from a “hold” rating to a “buy” rating in a research report on Saturday, October 18th. Robert W. Baird set a $370.00 price target on Snap-On in a report on Friday. Weiss Ratings restated a “buy (b)” rating on shares of Snap-On in a research note on Wednesday, January 21st. Finally, Roth Mkm reaffirmed a “buy” rating and set a $385.00 price objective on shares of Snap-On in a research report on Friday, October 17th. Five investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Snap-On currently has an average rating of “Moderate Buy” and a consensus target price of $365.83.

About Snap-On

Snap‑On Incorporated (NYSE: SNA) is a designer, manufacturer and marketer of tools, diagnostic equipment, repair information and shop equipment for professional users. The company’s product range includes hand and power tools, tool storage and cabinets, diagnostic scan tools and software, shop equipment such as lifts and tire changers, and specialized specialty tools for automotive, aviation, marine and industrial applications. Snap‑On also offers information and workflow solutions that combine diagnostic data, repair procedures and parts information to support professional technicians.

Founded in 1920 and headquartered in Kenosha, Wisconsin, Snap‑On has established a long history in the professional tools market.