SouthState Corp Acquires 221 Shares of Snap-on Incorporated (NYSE:SNA)

SouthState Corp raised its holdings in Snap-on Incorporated (NYSE:SNA) by 1.0% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 22,025 shares of the company’s stock after buying an additional 221 shares during the quarter. SouthState Corp’s holdings in Snap-on were worth $7,477,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the business. Signature Wealth Management Group grew its position in shares of Snap-on by 0.9% in the 4th quarter. Signature Wealth Management Group now owns 4,307 shares of the company’s stock worth $1,462,000 after buying an additional 39 shares during the last quarter. Corient Private Wealth LLC lifted its stake in shares of Snap-on by 3.5% in the 4th quarter. Corient Private Wealth LLC now owns 22,987 shares of the company’s stock valued at $7,803,000 after purchasing an additional 783 shares during the period. Gitterman Wealth Management LLC purchased a new position in shares of Snap-on in the 4th quarter valued at approximately $227,000. Envestnet Portfolio Solutions Inc. lifted its stake in shares of Snap-on by 0.3% in the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 65,095 shares of the company’s stock valued at $22,098,000 after purchasing an additional 166 shares during the period. Finally, Natixis Advisors LLC lifted its stake in shares of Snap-on by 9.1% in the 4th quarter. Natixis Advisors LLC now owns 72,479 shares of the company’s stock valued at $24,605,000 after purchasing an additional 6,041 shares during the period. 84.88% of the stock is currently owned by institutional investors.

Snap-on Stock Up 2.4 %

Shares of NYSE:SNA opened at $331.93 on Monday. The stock has a fifty day simple moving average of $341.51 and a two-hundred day simple moving average of $330.08. The stock has a market capitalization of $17.39 billion, a price-to-earnings 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 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 posted its earnings results on Thursday, February 6th. The company reported $4.82 EPS for the quarter, topping analysts’ consensus estimates of $4.78 by $0.04. Snap-on had a return on equity of 19.20% and a net margin of 21.71%. During the same period last year, the business posted $4.75 earnings per share. On average, research analysts anticipate that Snap-on Incorporated will post 19.79 earnings per share for the current fiscal year.

Snap-on Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Monday, February 24th were issued a $2.14 dividend. This represents a $8.56 dividend on an annualized basis and a dividend yield of 2.58%. The ex-dividend date was Monday, February 24th. Snap-on’s payout ratio is 43.90%.

Insiders Place Their Bets

In other Snap-on news, CFO Aldo John Pagliari sold 6,860 shares of Snap-on stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $339.05, for a total value of $2,325,883.00. Following the completion of the sale, the chief financial officer now owns 107,096 shares of the company’s stock, valued at approximately $36,310,898.80. This trade represents a 6.02 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Jesus Arregui sold 6,451 shares of Snap-on stock in a transaction 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 completion of the sale, the senior vice president now directly owns 257 shares of the company’s stock, valued at approximately $86,817.17. The trade was a 96.17 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 20,220 shares of company stock valued at $6,906,802. Corporate insiders own 4.10% of the company’s stock.

Wall Street Analysts Forecast Growth

SNA has been the subject of a number of research analyst reports. Barrington Research restated an “outperform” rating and issued a $350.00 target price on shares of Snap-on in a research note on Monday, February 10th. Tigress Financial raised their target price on Snap-on from $385.00 to $390.00 and gave the company a “buy” rating in a research note on Tuesday, March 4th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $346.40.

Snap-on 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.