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

Swiss National Bank cut its holdings in Snap-on Incorporated (NYSE:SNA) by 2.8% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 165,500 shares of the company’s stock after selling 4,800 shares during the quarter. Swiss National Bank owned about 0.31% of Snap-on worth $47,803,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the business. LGT Group Foundation increased its stake in Snap-on by 7.2% during the 4th quarter. LGT Group Foundation now owns 22,450 shares of the company’s stock valued at $6,509,000 after purchasing an additional 1,514 shares in the last quarter. First Trust Direct Indexing L.P. increased its holdings in shares of Snap-on by 17.6% in the fourth quarter. First Trust Direct Indexing L.P. now owns 942 shares of the company’s stock valued at $272,000 after purchasing an additional 141 shares during the period. Andina Capital Management LLC purchased a new position in shares of Snap-on in the fourth quarter worth about $255,000. Gibraltar Capital Management Inc. purchased a new stake in Snap-on in the fourth quarter valued at approximately $745,000. Finally, Savant Capital LLC acquired a new position in Snap-on in the 4th quarter worth approximately $263,000. Institutional investors and hedge funds own 84.88% of the company’s stock.

Insider Buying and Selling at Snap-on

In other news, CFO Aldo John Pagliari sold 3,231 shares of the business’s stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $270.58, for a total transaction of $874,243.98. Following the transaction, the chief financial officer now owns 93,183 shares of the company’s stock, valued at approximately $25,213,456.14. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other Snap-on news, SVP Jesus Arregui sold 2,562 shares of the firm’s stock in a transaction on Monday, February 26th. The stock was sold at an average price of $269.35, for a total transaction of $690,074.70. Following the completion of the sale, the senior vice president now owns 8,663 shares of the company’s stock, valued at $2,333,379.05. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Aldo John Pagliari sold 3,231 shares of the company’s stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $270.58, for a total value of $874,243.98. Following the completion of the transaction, the chief financial officer now directly owns 93,183 shares in the company, valued at approximately $25,213,456.14. The disclosure for this sale can be found here. Insiders sold a total of 49,930 shares of company stock worth $14,089,523 in the last three months. 4.10% of the stock is owned by corporate insiders.

Snap-on Stock Up 1.4 %

SNA stock opened at $274.74 on Tuesday. The firm has a 50-day simple moving average of $284.32 and a 200-day simple moving average of $279.64. Snap-on Incorporated has a 52 week low of $247.68 and a 52 week high of $298.49. The stock has a market capitalization of $14.48 billion, a P/E ratio of 14.41, a P/E/G ratio of 1.87 and a beta of 1.00. The company has a quick ratio of 2.83, a current ratio of 3.82 and a debt-to-equity ratio of 0.23.

Snap-on (NYSE:SNA) last announced its earnings results on Thursday, April 18th. The company reported $4.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.66 by $0.09. Snap-on had a net margin of 21.69% and a return on equity of 20.46%. The company had revenue of $1.18 billion for the quarter, compared to analysts’ expectations of $1.20 billion. During the same quarter in the previous year, the company posted $4.60 EPS. The firm’s quarterly revenue was down .1% on a year-over-year basis. Equities analysts forecast that Snap-on Incorporated will post 19.02 earnings per share for the current fiscal year.

Snap-on Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 10th. Investors of record on Monday, May 20th will be given a dividend of $1.86 per share. The ex-dividend date of this dividend is Friday, May 17th. This represents a $7.44 dividend on an annualized basis and a yield of 2.71%. Snap-on’s payout ratio is 39.03%.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on SNA. Tigress Financial reissued a “buy” rating and set a $336.00 target price on shares of Snap-on in a report on Friday, February 16th. Roth Mkm restated a “buy” rating and issued a $324.00 target price on shares of Snap-on in a research note on Thursday, April 18th. Robert W. Baird reduced their price target on Snap-on from $295.00 to $282.00 and set a “neutral” rating for the company in a research report on Friday, April 19th. Finally, Barrington Research restated an “outperform” rating and issued a $325.00 price objective on shares of Snap-on in a research report on Monday, April 15th. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $316.75.

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.