SouthState Corp Buys 221 Shares of Snap-on Incorporated (NYSE:SNA)

SouthState Corp raised its stake in shares of Snap-on Incorporated (NYSE:SNA) by 1.0% in the 4th quarter, HoldingsChannel.com reports. The firm owned 22,025 shares of the company’s stock after purchasing an additional 221 shares during the period. SouthState Corp’s holdings in Snap-on were worth $7,477,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. UMB Bank n.a. grew its holdings in Snap-on by 70.5% during the fourth quarter. UMB Bank n.a. now owns 75 shares of the company’s stock valued at $25,000 after purchasing an additional 31 shares during the period. SBI Securities Co. Ltd. purchased a new stake in Snap-on during the fourth quarter valued at approximately $26,000. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in Snap-on during the fourth quarter valued at approximately $28,000. Brooklyn Investment Group purchased a new stake in Snap-on during the third quarter valued at approximately $39,000. Finally, Private Trust Co. NA raised its position in Snap-on by 38.2% during the third quarter. Private Trust Co. NA now owns 217 shares of the company’s stock valued at $63,000 after purchasing an additional 60 shares during the period. Institutional investors own 84.88% of the company’s stock.

Snap-on Stock Up 2.4 %

Shares of NYSE:SNA opened at $331.93 on Monday. Snap-on Incorporated has a 52-week low of $252.98 and a 52-week high of $373.90. The stock has a market cap of $17.39 billion, a P/E ratio of 17.02, a price-to-earnings-growth ratio of 2.21 and a beta of 0.99. The business’s 50 day moving average is $341.51 and its 200 day moving average is $330.08. The company has a quick ratio of 3.17, a current ratio of 4.15 and a debt-to-equity ratio of 0.22.

Snap-on (NYSE:SNA) last issued its quarterly earnings data on Thursday, February 6th. The company reported $4.82 EPS for the quarter, beating the consensus estimate 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 last year, the firm posted $4.75 earnings per share. Sell-side analysts predict that Snap-on Incorporated will post 19.79 EPS for the current year.

Snap-on Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Monday, February 24th were paid a $2.14 dividend. The ex-dividend date was Monday, February 24th. This represents a $8.56 dividend on an annualized basis and a yield of 2.58%. Snap-on’s dividend payout ratio (DPR) is 43.90%.

Insiders Place Their Bets

In related news, SVP Jesus Arregui sold 6,451 shares of Snap-on stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $337.81, for a total value of $2,179,212.31. Following the sale, the senior vice president now directly owns 257 shares in the company, valued at approximately $86,817.17. The trade was a 96.17 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Aldo John Pagliari sold 6,909 shares of the firm’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 transaction 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 ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 20,220 shares of company stock valued at $6,906,802. Company insiders own 4.10% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the company. Barrington Research restated an “outperform” rating and set a $350.00 price objective on shares of Snap-on in a research report on Monday, February 10th. Tigress Financial upped their target price on Snap-on from $385.00 to $390.00 and gave the company a “buy” rating in a research note on Tuesday, March 4th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, Snap-on currently has an average rating of “Hold” and an average price target of $346.40.

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.