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

Hudson Edge Investment Partners Inc. increased its stake in Snap-On Incorporated (NYSE:SNA) by 11.4% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 22,468 shares of the company’s stock after purchasing an additional 2,308 shares during the period. Snap-On makes up 1.3% of Hudson Edge Investment Partners Inc.’s holdings, making the stock its 14th largest position. Hudson Edge Investment Partners Inc.’s holdings in Snap-On were worth $7,786,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of Snap-On by 15.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 8,850 shares of the company’s stock worth $2,983,000 after buying an additional 1,185 shares in the last quarter. Woodline Partners LP lifted its stake in Snap-On by 40.4% in the 1st quarter. Woodline Partners LP now owns 4,426 shares of the company’s stock valued at $1,492,000 after acquiring an additional 1,273 shares in the last quarter. Assenagon Asset Management S.A. boosted its position in Snap-On by 13.6% during the 2nd quarter. Assenagon Asset Management S.A. now owns 8,454 shares of the company’s stock worth $2,631,000 after acquiring an additional 1,013 shares during the last quarter. Farther Finance Advisors LLC boosted its position in Snap-On by 51.1% during the 2nd quarter. Farther Finance Advisors LLC now owns 2,867 shares of the company’s stock worth $892,000 after acquiring an additional 969 shares during the last quarter. Finally, GAMMA Investing LLC grew its stake in shares of Snap-On by 15.3% during the 2nd quarter. GAMMA Investing LLC now owns 2,405 shares of the company’s stock worth $748,000 after acquiring an additional 319 shares in the last quarter. Institutional investors and hedge funds own 84.88% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently commented on the stock. Roth Mkm reissued a “buy” rating and issued a $385.00 price objective on shares of Snap-On in a research report on Friday, October 17th. Robert W. Baird boosted their price target on shares of Snap-On from $355.00 to $365.00 and gave the stock a “neutral” rating in a research report on Friday, October 17th. Weiss Ratings restated a “buy (b)” rating on shares of Snap-On in a report on Wednesday, October 8th. Barrington Research reiterated an “outperform” rating and set a $350.00 target price on shares of Snap-On in a report on Wednesday, October 15th. Finally, Wall Street Zen raised Snap-On from a “hold” rating to a “buy” rating in a research report on Saturday, October 18th. Five investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Snap-On has an average rating of “Moderate Buy” and a consensus target price of $365.00.

Insider Buying and Selling at Snap-On

In other Snap-On news, SVP Jesus Arregui sold 3,831 shares of the stock in a transaction that occurred on Tuesday, November 25th. The shares were sold at an average price of $337.28, for a total transaction of $1,292,119.68. Following the transaction, the senior vice president owned 2,642 shares in the company, valued at $891,093.76. This represents a 59.18% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Nicholas T. Pinchuk sold 22,607 shares of Snap-On stock in a transaction that occurred on Tuesday, December 2nd. The shares were sold at an average price of $339.15, for a total transaction of $7,667,164.05. Following the completion of the sale, the chief executive officer owned 826,364 shares of the company’s stock, valued at approximately $280,261,350.60. The trade was a 2.66% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 40,036 shares of company stock worth $13,710,988. 3.90% of the stock is currently owned by company insiders.

Snap-On Stock Up 1.9%

SNA opened at $371.67 on Thursday. The stock has a fifty day moving average of $348.19 and a 200-day moving average of $337.64. The company has a market capitalization of $19.33 billion, a P/E ratio of 19.49, a P/E/G ratio of 2.56 and a beta of 0.80. Snap-On Incorporated has a fifty-two week low of $289.81 and a fifty-two week high of $372.63. The company has a debt-to-equity ratio of 0.20, a quick ratio of 3.37 and a current ratio of 4.40.

Snap-On Increases Dividend

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

Snap-On Company Profile

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.