Swiss National Bank Has $52.26 Million Position in Snap-On Incorporated $SNA

Swiss National Bank lessened its stake in shares of Snap-On Incorporated (NYSE:SNA) by 4.9% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 150,800 shares of the company’s stock after selling 7,800 shares during the period. Swiss National Bank owned 0.29% of Snap-On worth $52,257,000 at the end of the most recent reporting period.

Other institutional investors have also recently modified their holdings of the company. Russell Investments Group Ltd. increased its position in shares of Snap-On by 8.2% in the third quarter. Russell Investments Group Ltd. now owns 54,499 shares of the company’s stock worth $18,883,000 after purchasing an additional 4,138 shares during the period. Parallel Advisors LLC lifted its position in Snap-On by 11.1% during the third quarter. Parallel Advisors LLC now owns 609 shares of the company’s stock worth $211,000 after purchasing an additional 61 shares during the period. Meiji Yasuda Asset Management Co Ltd. grew its stake in Snap-On by 4.7% during the third quarter. Meiji Yasuda Asset Management Co Ltd. now owns 1,125 shares of the company’s stock worth $390,000 after buying an additional 50 shares in the last quarter. Natixis Advisors LLC grew its stake in Snap-On by 22.4% during the third quarter. Natixis Advisors LLC now owns 103,357 shares of the company’s stock worth $35,816,000 after buying an additional 18,943 shares in the last quarter. Finally, Ameriflex Group Inc. increased its holdings in Snap-On by 2,166.7% in the 3rd quarter. Ameriflex Group Inc. now owns 204 shares of the company’s stock valued at $71,000 after buying an additional 195 shares during the period. 84.88% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have recently weighed in on SNA shares. Roth Mkm reaffirmed a “buy” rating and set a $409.00 price target (up from $385.00) on shares of Snap-On in a report on Tuesday, February 10th. Tigress Financial lifted their price objective on shares of Snap-On from $405.00 to $445.00 and gave the company a “buy” rating in a research note on Friday, February 27th. Wall Street Zen downgraded shares of Snap-On from a “buy” rating to a “hold” rating in a research report on Saturday, February 7th. Weiss Ratings restated a “buy (b)” rating on shares of Snap-On in a research note on Wednesday, January 21st. Finally, Robert W. Baird set a $375.00 target price on Snap-On in a report on Friday, February 6th. Five research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $377.33.

Insider Transactions at Snap-On

In related news, CEO Nicholas T. Pinchuk sold 23,229 shares of the business’s stock in a transaction on Monday, February 23rd. The stock was sold at an average price of $383.36, for a total transaction of $8,905,069.44. Following the sale, the chief executive officer owned 846,562 shares in the company, valued at $324,538,008.32. The trade was a 2.67% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, SVP Timothy L. Chambers sold 8,000 shares of the company’s stock in a transaction dated Wednesday, February 4th. The stock was sold at an average price of $385.13, for a total value of $3,081,040.00. Following the completion of the transaction, the senior vice president directly owned 19,480 shares of the company’s stock, valued at approximately $7,502,332.40. The trade was a 29.11% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 39,650 shares of company stock worth $15,210,959. Insiders own 3.90% of the company’s stock.

Snap-On Trading Down 1.6%

Shares of Snap-On stock opened at $364.01 on Friday. The firm’s 50 day moving average is $372.52 and its 200 day moving average is $350.90. The firm has a market capitalization of $18.90 billion, a PE ratio of 18.97, a price-to-earnings-growth ratio of 2.55 and a beta of 0.78. Snap-On Incorporated has a 1 year low of $289.81 and a 1 year high of $390.13. The company has a current ratio of 4.79, a quick ratio of 3.68 and a debt-to-equity ratio of 0.20.

Snap-On (NYSE:SNA) last issued its earnings results on Thursday, February 5th. The company reported $4.94 earnings per share for the quarter, beating analysts’ consensus estimates of $4.86 by $0.08. The firm had revenue of $1.23 billion for the quarter, compared to analyst estimates of $1.24 billion. Snap-On had a net margin of 21.44% and a return on equity of 17.34%. The company’s quarterly revenue was up 2.8% on a year-over-year basis. During the same quarter last year, the business posted $4.82 earnings per share. Equities research analysts forecast that Snap-On Incorporated will post 19.79 earnings per share for the current fiscal year.

Snap-On Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 10th. Investors of record on Tuesday, February 24th were issued a dividend of $2.44 per share. The ex-dividend date of this dividend was Tuesday, February 24th. This represents a $9.76 annualized dividend and a dividend yield of 2.7%. Snap-On’s dividend payout ratio (DPR) is 50.86%.

Snap-On 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.