Hudson Edge Investment Partners Inc. Purchases 2,308 Shares of Snap-On Incorporated $SNA

Hudson Edge Investment Partners Inc. raised its position in Snap-On Incorporated (NYSE:SNA) by 11.4% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 22,468 shares of the company’s stock after buying an additional 2,308 shares during the quarter. Snap-On comprises about 1.3% of Hudson Edge Investment Partners Inc.’s portfolio, making the stock its 14th largest holding. Hudson Edge Investment Partners Inc.’s holdings in Snap-On were worth $7,786,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Tobam acquired a new stake in shares of Snap-On during the 2nd quarter worth approximately $29,000. Ameritas Advisory Services LLC bought a new stake in Snap-On during the second quarter worth $30,000. Vermillion & White Wealth Management Group LLC boosted its holdings in shares of Snap-On by 97.9% in the 2nd quarter. Vermillion & White Wealth Management Group LLC now owns 95 shares of the company’s stock valued at $30,000 after purchasing an additional 47 shares in the last quarter. SJS Investment Consulting Inc. boosted its holdings in shares of Snap-On by 1,880.0% in the 3rd quarter. SJS Investment Consulting Inc. now owns 99 shares of the company’s stock valued at $34,000 after purchasing an additional 94 shares in the last quarter. Finally, Quent Capital LLC bought a new position in shares of Snap-On in the 3rd quarter valued at $36,000. Institutional investors own 84.88% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently weighed in on SNA shares. Tigress Financial upped their price objective on Snap-On from $395.00 to $405.00 and gave the stock a “buy” rating in a research report on Tuesday, October 21st. Wall Street Zen raised Snap-On from a “hold” rating to a “buy” rating in a research note on Saturday, October 18th. Roth Mkm reissued a “buy” rating and issued a $385.00 target price on shares of Snap-On in a report on Friday, October 17th. Robert W. Baird raised their price target on shares of Snap-On from $355.00 to $365.00 and gave the company a “neutral” rating in a research note on Friday, October 17th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Snap-On in a research report on Wednesday, October 8th. Five research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $365.00.

Snap-On Stock Performance

Shares of SNA stock opened at $371.67 on Thursday. The firm has a market capitalization of $19.33 billion, a price-to-earnings ratio of 19.49, a PEG ratio of 2.56 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. The business’s 50-day moving average price is $348.19 and its 200-day moving average price is $337.64. Snap-On Incorporated has a 12 month low of $289.81 and a 12 month high of $372.63.

Snap-On Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, December 10th. Shareholders of record on Friday, November 21st were issued a dividend of $2.44 per share. This represents a $9.76 dividend on an annualized basis and a yield of 2.6%. The ex-dividend date of this dividend was Friday, November 21st. This is a positive change from Snap-On’s previous quarterly dividend of $2.14. Snap-On’s payout ratio is presently 51.18%.

Insider Buying and Selling at Snap-On

In related news, SVP Jesus Arregui sold 3,831 shares of the business’s stock in a transaction on Tuesday, November 25th. The shares were sold at an average price of $337.28, for a total value of $1,292,119.68. Following the sale, the senior vice president owned 2,642 shares of the company’s stock, valued at $891,093.76. The trade was a 59.18% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Aldo John Pagliari sold 6,779 shares of the stock in a transaction on Thursday, December 11th. The shares were sold at an average price of $352.20, for a total value of $2,387,563.80. Following the completion of the sale, the chief financial officer owned 111,888 shares of the company’s stock, valued at $39,406,953.60. The trade was a 5.71% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 40,036 shares of company stock valued at $13,710,988. 3.90% of the stock is owned by insiders.

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.