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

Swiss National Bank lowered its position in Snap-on Incorporated (NYSE:SNA) by 4.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 148,900 shares of the company’s stock after selling 7,200 shares during the period. Swiss National Bank owned approximately 0.28% of Snap-on worth $50,549,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently bought and sold shares of the business. State Street Corp increased its stake in shares of Snap-on by 0.5% in the third quarter. State Street Corp now owns 2,115,973 shares of the company’s stock worth $613,019,000 after acquiring an additional 10,645 shares during the period. Charles Schwab Investment Management Inc. grew its position in Snap-on by 4.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,806,278 shares of the company’s stock worth $613,195,000 after purchasing an additional 77,486 shares during the period. Geode Capital Management LLC raised its stake in shares of Snap-on by 4.5% during the 3rd quarter. Geode Capital Management LLC now owns 1,613,459 shares of the company’s stock valued at $466,199,000 after buying an additional 69,590 shares during the last quarter. Nordea Investment Management AB lifted its holdings in shares of Snap-on by 12.8% in the 4th quarter. Nordea Investment Management AB now owns 1,128,317 shares of the company’s stock valued at $384,813,000 after buying an additional 127,859 shares during the period. Finally, Pacer Advisors Inc. grew its holdings in Snap-on by 9.4% during the third quarter. Pacer Advisors Inc. now owns 907,655 shares of the company’s stock worth $262,957,000 after acquiring an additional 78,184 shares during the period. 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 several recent research reports. Tigress Financial upped their price objective on Snap-on from $385.00 to $390.00 and gave the stock a “buy” rating in a research report on Tuesday, March 4th. Barrington Research restated an “outperform” rating and set a $350.00 price target on shares of Snap-on in a research report on Monday, February 10th. One analyst has rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $346.40.

Insider Buying and Selling

In other news, 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 value of $2,401,706.58. Following the transaction, the chief financial officer now 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 transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Jesus Arregui sold 6,451 shares of the business’s stock in a transaction that occurred on 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 owns 257 shares of the company’s stock, valued at $86,817.17. The trade was a 96.17 % 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 worth $6,906,802. Insiders own 4.10% of the company’s stock.

Snap-on Stock Up 2.4 %

Shares of SNA opened at $331.93 on Friday. The firm has a market cap of $17.39 billion, a P/E ratio of 17.02, a PEG ratio of 2.21 and a beta of 0.99. Snap-on Incorporated has a 12 month low of $252.98 and a 12 month high of $373.90. The stock’s 50 day moving average is $341.51 and its two-hundred day moving average is $329.73. The company has a current ratio of 4.15, a quick ratio of 3.17 and a debt-to-equity ratio of 0.22.

Snap-on (NYSE:SNA) last issued its quarterly earnings results on Thursday, February 6th. The company reported $4.82 EPS for the quarter, topping the consensus estimate of $4.78 by $0.04. Snap-on had a net margin of 21.71% and a return on equity of 19.20%. During the same period last year, the firm posted $4.75 earnings per share. Analysts predict that Snap-on Incorporated will post 19.79 earnings per share for the current fiscal year.

Snap-on Dividend Announcement

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

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.