Beacon Investment Advisory Services Inc. Has $4.64 Million Stock Position in Snap-on Incorporated (NYSE:SNA)

Beacon Investment Advisory Services Inc. grew its position in Snap-on Incorporated (NYSE:SNA) by 874.8% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 13,676 shares of the company’s stock after purchasing an additional 12,273 shares during the period. Beacon Investment Advisory Services Inc.’s holdings in Snap-on were worth $4,643,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Aurora Investment Counsel grew its stake in shares of Snap-on by 0.9% in the 3rd quarter. Aurora Investment Counsel now owns 3,549 shares of the company’s stock valued at $1,028,000 after purchasing an additional 30 shares during the period. UMB Bank n.a. increased its holdings in 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 purchasing an additional 31 shares in the last quarter. Lake Street Advisors Group LLC raised its position in Snap-on by 3.1% in the 3rd quarter. Lake Street Advisors Group LLC now owns 1,074 shares of the company’s stock valued at $311,000 after purchasing an additional 32 shares during the last quarter. Metis Global Partners LLC boosted its stake in Snap-on by 1.9% in the third quarter. Metis Global Partners LLC now owns 1,691 shares of the company’s stock worth $490,000 after purchasing an additional 32 shares in the last quarter. Finally, Tradition Wealth Management LLC grew its holdings in shares of Snap-on by 3.1% during the third quarter. Tradition Wealth Management LLC now owns 1,154 shares of the company’s stock worth $334,000 after purchasing an additional 35 shares during the last quarter. 84.88% of the stock is owned by hedge funds and other institutional investors.

Snap-on Stock Performance

SNA stock opened at $351.70 on Thursday. Snap-on Incorporated has a 1-year low of $252.98 and a 1-year high of $373.89. The business’s 50-day moving average price is $350.74 and its two-hundred day moving average price is $312.37. The firm has a market cap of $18.47 billion, a PE ratio of 18.10, a P/E/G ratio of 2.23 and a beta of 1.00. 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 Increases Dividend

The firm also recently disclosed 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 is a positive change from Snap-on’s previous quarterly dividend of $1.86. This represents a $8.56 annualized dividend and a dividend yield of 2.43%. Snap-on’s payout ratio is currently 44.06%.

Insider Buying and Selling

In related news, CEO Nicholas T. Pinchuk sold 21,783 shares of the 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 directly owns 769,738 shares of the company’s stock, valued at approximately $273,126,134.54. This represents a 2.75 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Aldo John Pagliari sold 6,909 shares of the company’s stock in a transaction that occurred on Wednesday, December 18th. The stock was sold at an average price of $347.62, for a total value of $2,401,706.58. Following the sale, the chief financial officer now owns 100,668 shares in the company, valued at approximately $34,994,210.16. This represents a 6.42 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 44,929 shares of company stock valued at $15,645,074. 4.10% of the stock is owned by corporate insiders.

Analyst Ratings Changes

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

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.