KBC Group NV Acquires 27,383 Shares of Snap-on Incorporated (NYSE:SNA)

KBC Group NV grew its stake in shares of Snap-on Incorporated (NYSE:SNA) by 177.4% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 42,820 shares of the company’s stock after purchasing an additional 27,383 shares during the period. KBC Group NV owned about 0.08% of Snap-on worth $14,536,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Public Sector Pension Investment Board boosted its holdings in Snap-on by 78.0% during the second quarter. Public Sector Pension Investment Board now owns 2,029 shares of the company’s stock worth $530,000 after purchasing an additional 889 shares during the last quarter. MBB Public Markets I LLC bought a new position in shares of Snap-on during the 2nd quarter worth approximately $869,000. Millennium Management LLC boosted its stake in shares of Snap-on by 1,786.4% in the 2nd quarter. Millennium Management LLC now owns 161,175 shares of the company’s stock worth $42,130,000 after buying an additional 152,631 shares during the last quarter. The Manufacturers Life Insurance Company grew its holdings in shares of Snap-on by 1.7% in the second quarter. The Manufacturers Life Insurance Company now owns 43,710 shares of the company’s stock valued at $11,425,000 after acquiring an additional 746 shares in the last quarter. Finally, Scientech Research LLC purchased a new stake in shares of Snap-on during the second quarter valued at approximately $279,000. 84.88% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

SNA has been the topic of a number of research analyst reports. Roth Mkm boosted their price target on shares of Snap-on from $324.00 to $365.00 and gave the stock a “buy” rating in a report on Tuesday, October 22nd. Barrington Research boosted their target price on shares of Snap-on from $325.00 to $350.00 and gave the company an “outperform” rating in a research note on Thursday, October 17th. Bank of America raised their price target on shares of Snap-on from $255.00 to $280.00 and gave the stock an “underperform” rating in a research note on Friday, October 18th. Robert W. Baird upped their price objective on Snap-on from $290.00 to $347.00 and gave the company a “neutral” rating in a research note on Friday, October 18th. Finally, Tigress Financial raised their target price on Snap-on from $336.00 to $385.00 and gave the stock a “buy” rating in a research report on Friday, October 25th. One analyst has rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $345.40.

Insider Buying and Selling at Snap-on

In other Snap-on news, CEO Nicholas T. Pinchuk sold 21,783 shares of the business’s stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $354.83, for a total value of $7,729,261.89. Following the completion of the sale, the chief executive officer now owns 769,738 shares in the company, valued at approximately $273,126,134.54. The trade was a 2.75 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP June C. Lemerand sold 3,500 shares of the stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $362.86, for a total transaction of $1,270,010.00. Following the sale, the vice president now directly owns 2,289 shares of the company’s stock, valued at $830,586.54. The trade was a 60.46 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 32,192 shares of company stock worth $11,400,978 over the last ninety days. Insiders own 4.10% of the company’s stock.

Snap-on Trading Down 0.0 %

Shares of Snap-on stock opened at $352.59 on Wednesday. The company has a 50 day simple moving average of $350.33 and a two-hundred day simple moving average of $315.23. The firm has a market cap of $18.51 billion, a PE ratio of 18.15, a PEG ratio of 2.21 and a beta of 1.00. Snap-on Incorporated has a 1 year low of $252.98 and a 1 year high of $373.89. The company has a debt-to-equity ratio of 0.22, a current ratio of 4.18 and a quick ratio of 3.14.

Snap-on Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Thursday, November 21st were paid a $2.14 dividend. The ex-dividend date of this dividend was Thursday, November 21st. This represents a $8.56 annualized dividend and a yield of 2.43%. This is a positive change from Snap-on’s previous quarterly dividend of $1.86. Snap-on’s dividend payout ratio is currently 44.06%.

About Snap-on

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.