Swiss National Bank Reduces Stock Position in Snap-on Incorporated (NYSE:SNA)

Swiss National Bank decreased its stake in shares of Snap-on Incorporated (NYSE:SNA) by 4.6% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 148,900 shares of the company’s stock after selling 7,200 shares during the quarter. Swiss National Bank’s holdings in Snap-on were worth $50,549,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Aurora Investment Counsel raised its holdings in shares of Snap-on by 0.9% during the 3rd quarter. Aurora Investment Counsel now owns 3,549 shares of the company’s stock worth $1,028,000 after acquiring an additional 30 shares during the period. Greenleaf Trust boosted its holdings in Snap-on by 3.1% in the 4th quarter. Greenleaf Trust now owns 1,013 shares of the company’s stock valued at $344,000 after purchasing an additional 30 shares during the last quarter. UMB Bank n.a. grew its stake in shares of Snap-on by 70.5% in the 4th quarter. UMB Bank n.a. now owns 75 shares of the company’s stock valued at $25,000 after buying an additional 31 shares during the period. WCM Investment Management LLC increased its holdings in shares of Snap-on by 4.5% during the 4th quarter. WCM Investment Management LLC now owns 727 shares of the company’s stock worth $247,000 after buying an additional 31 shares during the last quarter. Finally, New York Life Investment Management LLC raised its position in shares of Snap-on by 0.4% during the 4th quarter. New York Life Investment Management LLC now owns 7,106 shares of the company’s stock valued at $2,412,000 after buying an additional 31 shares during the period. Institutional investors and hedge funds own 84.88% of the company’s stock.

Wall Street Analysts Forecast Growth

SNA has been the subject of several recent analyst reports. Tigress Financial raised their target price on Snap-on from $385.00 to $390.00 and gave the stock a “buy” rating in a research note on Tuesday, March 4th. Barrington Research reissued an “outperform” rating and set a $350.00 price objective on shares of Snap-on in a research report on Monday, February 10th. One research analyst has rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $346.40.

Insider Transactions at Snap-on

In other news, SVP Jesus Arregui sold 6,451 shares of Snap-on stock in a transaction on Monday, February 10th. The shares were sold at an average price of $337.81, for a total transaction of $2,179,212.31. Following the completion of the sale, the senior vice president now directly owns 257 shares of the company’s stock, valued at approximately $86,817.17. The trade was a 96.17 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Aldo John Pagliari sold 6,909 shares of the stock in a transaction on Wednesday, December 18th. The shares were sold at an average price of $347.62, for a total value of $2,401,706.58. Following the completion of the transaction, the chief financial officer now directly owns 100,668 shares in the company, valued at $34,994,210.16. This trade represents a 6.42 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 20,220 shares of company stock valued at $6,906,802. 4.10% of the stock is currently owned by corporate insiders.

Snap-on Stock Up 2.4 %

NYSE:SNA opened at $331.93 on Friday. Snap-on Incorporated has a 52 week low of $252.98 and a 52 week high of $373.90. The company has a quick ratio of 3.17, a current ratio of 4.15 and a debt-to-equity ratio of 0.22. The stock’s fifty day moving average is $341.51 and its two-hundred day moving average is $329.73. The stock has a market capitalization of $17.39 billion, a price-to-earnings ratio of 17.02, a price-to-earnings-growth ratio of 2.21 and a beta of 0.99.

Snap-on (NYSE:SNA) last announced its earnings results on Thursday, February 6th. The company reported $4.82 EPS for the quarter, beating analysts’ consensus estimates of $4.78 by $0.04. Snap-on had a return on equity of 19.20% and a net margin of 21.71%. During the same quarter in the previous year, the business posted $4.75 earnings per share. Research analysts anticipate that Snap-on Incorporated will post 19.79 EPS for the current year.

Snap-on Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Monday, February 24th were given a $2.14 dividend. This represents a $8.56 dividend on an annualized basis and a yield of 2.58%. The ex-dividend date of this dividend was Monday, February 24th. Snap-on’s dividend payout ratio is currently 43.90%.

Snap-on 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.