TI Trust Inc. Makes New $204,000 Investment in Snap-on Incorporated (NYSE:SNA)

TI Trust Inc. bought a new stake in Snap-on Incorporated (NYSE:SNA) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 600 shares of the company’s stock, valued at approximately $204,000.

Several other hedge funds and other institutional investors also recently modified their holdings of the company. State Street Corp boosted its stake in Snap-on by 0.5% during the 3rd quarter. State Street Corp now owns 2,115,973 shares of the company’s stock valued at $613,019,000 after purchasing an additional 10,645 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in shares of Snap-on by 3.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,728,792 shares of the company’s stock valued at $500,848,000 after buying an additional 56,266 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of Snap-on by 4.5% during the third quarter. Geode Capital Management LLC now owns 1,613,459 shares of the company’s stock worth $466,199,000 after buying an additional 69,590 shares during the period. Nordea Investment Management AB grew its holdings in Snap-on by 12.8% in the 4th quarter. Nordea Investment Management AB now owns 1,128,317 shares of the company’s stock worth $384,813,000 after buying an additional 127,859 shares in the last quarter. Finally, Pacer Advisors Inc. increased its position in Snap-on by 9.4% in the 3rd quarter. Pacer Advisors Inc. now owns 907,655 shares of the company’s stock valued at $262,957,000 after acquiring an additional 78,184 shares during the period. Institutional investors and hedge funds own 84.88% of the company’s stock.

Insider Buying and Selling

In other Snap-on news, CEO Nicholas T. Pinchuk sold 21,783 shares of the firm’s stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $354.83, for a total value of $7,729,261.89. Following the completion of the transaction, the chief executive officer now directly owns 769,738 shares in the company, valued at $273,126,134.54. This trade represents a 2.75 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CFO Aldo John Pagliari sold 6,909 shares of the business’s stock in a transaction that occurred on Wednesday, December 18th. The shares were sold at an average price of $347.62, for a total transaction of $2,401,706.58. Following the sale, the chief financial officer now owns 100,668 shares in the company, valued at $34,994,210.16. This represents a 6.42 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 32,192 shares of company stock worth $11,400,978 in the last three months. 4.10% of the stock is currently owned by insiders.

Snap-on Stock Down 0.1 %

SNA stock opened at $350.33 on Monday. The firm has a market cap of $18.40 billion, a PE ratio of 18.03, a P/E/G ratio of 2.21 and a beta of 1.00. Snap-on Incorporated has a 12 month low of $252.98 and a 12 month high of $373.89. The company has a debt-to-equity ratio of 0.22, a current ratio of 4.18 and a quick ratio of 3.14. The firm has a 50 day simple moving average of $350.47 and a 200 day simple moving average of $314.05.

Snap-on Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Thursday, November 21st were paid a dividend of $2.14 per share. The ex-dividend date 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 2.44%. Snap-on’s dividend payout ratio (DPR) is currently 44.06%.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on SNA shares. Tigress Financial upped their price objective 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. Robert W. Baird increased their price objective 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 boosted their target price on Snap-on from $255.00 to $280.00 and gave the stock an “underperform” rating in a report on Friday, October 18th. Barrington Research lifted their price target on Snap-on from $325.00 to $350.00 and gave the company an “outperform” rating in a research report on Thursday, October 17th. Finally, Roth Mkm upped their price objective on Snap-on from $324.00 to $365.00 and gave the company a “buy” rating in a report on Tuesday, October 22nd. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus 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.