OVERSEA CHINESE BANKING Corp Ltd Purchases Shares of 725 Snap-on Incorporated (NYSE:SNA)

OVERSEA CHINESE BANKING Corp Ltd acquired a new position in Snap-on Incorporated (NYSE:SNA) during the fourth quarter, Holdings Channel reports. The institutional investor acquired 725 shares of the company’s stock, valued at approximately $209,000.

A number of other large investors also recently modified their holdings of SNA. DnB Asset Management AS lifted its stake in shares of Snap-on by 11.4% in the third quarter. DnB Asset Management AS now owns 13,292 shares of the company’s stock valued at $3,390,000 after buying an additional 1,355 shares during the period. SG Americas Securities LLC boosted its stake in Snap-on by 25.8% during the third quarter. SG Americas Securities LLC now owns 4,441 shares of the company’s stock worth $1,133,000 after buying an additional 910 shares in the last quarter. 1900 Wealth Management LLC bought a new stake in Snap-on in the 3rd quarter valued at $904,000. Park Place Capital Corp lifted its holdings in shares of Snap-on by 8.4% during the 3rd quarter. Park Place Capital Corp now owns 3,292 shares of the company’s stock worth $840,000 after acquiring an additional 254 shares during the period. Finally, GHP Investment Advisors Inc. increased its stake in Snap-on by 0.4% in the third quarter. GHP Investment Advisors Inc. now owns 26,178 shares of the company’s stock valued at $6,640,000 after acquiring an additional 100 shares during the period. 84.88% of the stock is currently owned by institutional investors and hedge funds.

Snap-on Trading Down 0.1 %

Shares of SNA opened at $268.56 on Tuesday. The company has a debt-to-equity ratio of 0.23, a quick ratio of 2.83 and a current ratio of 3.82. The company has a market cap of $14.16 billion, a price-to-earnings ratio of 14.09, a PEG ratio of 1.92 and a beta of 0.99. The stock has a fifty day moving average price of $283.80 and a two-hundred day moving average price of $278.68. Snap-on Incorporated has a 52-week low of $247.68 and a 52-week high of $298.49.

Snap-on (NYSE:SNA) last released its quarterly earnings results on Thursday, April 18th. The company reported $4.75 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.66 by $0.09. The business had revenue of $1.18 billion during the quarter, compared to analysts’ expectations of $1.20 billion. Snap-on had a return on equity of 20.46% and a net margin of 21.69%. The firm’s revenue for the quarter was down .1% compared to the same quarter last year. During the same period in the previous year, the business posted $4.60 earnings per share. Analysts predict that Snap-on Incorporated will post 19.24 EPS for the current fiscal year.

Snap-on Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, March 11th. Stockholders of record on Monday, February 26th were given a dividend of $1.86 per share. The ex-dividend date of this dividend was Friday, February 23rd. This represents a $7.44 dividend on an annualized basis and a dividend yield of 2.77%. Snap-on’s payout ratio is 39.03%.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on SNA shares. Robert W. Baird decreased their price objective on Snap-on from $295.00 to $282.00 and set a “neutral” rating on the stock in a report on Friday. Tigress Financial reiterated a “buy” rating and issued a $336.00 price target on shares of Snap-on in a research report on Friday, February 16th. Barrington Research reissued an “outperform” rating and set a $325.00 price objective on shares of Snap-on in a report on Monday, April 15th. Finally, Roth Mkm reaffirmed a “buy” rating and issued a $324.00 target price on shares of Snap-on in a report on Thursday, April 18th. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $316.75.

Insider Activity

In other Snap-on news, VP Richard Thomas Miller sold 704 shares of the company’s stock in a transaction on Thursday, March 28th. The stock was sold at an average price of $298.16, for a total transaction of $209,904.64. Following the transaction, the vice president now owns 3,213 shares of the company’s stock, valued at approximately $957,988.08. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, CFO Aldo John Pagliari sold 3,231 shares of the business’s stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $270.58, for a total transaction of $874,243.98. Following the completion of the sale, the chief financial officer now directly owns 93,183 shares of the company’s stock, valued at $25,213,456.14. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Richard Thomas Miller sold 704 shares of the firm’s stock in a transaction that occurred on Thursday, March 28th. The shares were sold at an average price of $298.16, for a total transaction of $209,904.64. Following the completion of the transaction, the vice president now directly owns 3,213 shares in the company, valued at $957,988.08. The disclosure for this sale can be found here. Insiders have sold 47,368 shares of company stock valued at $13,399,449 over the last three months. 4.10% of the stock is owned by insiders.

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.