UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Grows Stock Position in Snap-on Incorporated (NYSE:SNA)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of Snap-on Incorporated (NYSE:SNA) by 18.1% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 334,852 shares of the company’s stock after acquiring an additional 51,406 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned approximately 0.64% of Snap-on worth $113,676,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. UMB Bank n.a. raised its position in shares of Snap-on by 70.5% during the 4th quarter. UMB Bank n.a. now owns 75 shares of the company’s stock worth $25,000 after purchasing an additional 31 shares during the last quarter. SBI Securities Co. Ltd. acquired a new position in shares of Snap-on in the fourth quarter worth $26,000. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in shares of Snap-on in the fourth quarter valued at $28,000. CoreFirst Bank & Trust purchased a new stake in shares of Snap-on in the fourth quarter valued at $40,000. Finally, TCTC Holdings LLC boosted its stake in shares of Snap-on by 41.3% during the fourth quarter. TCTC Holdings LLC now owns 147 shares of the company’s stock valued at $50,000 after acquiring an additional 43 shares during the last quarter. Institutional investors and hedge funds own 84.88% of the company’s stock.

Snap-on Stock Performance

Shares of SNA stock opened at $319.51 on Friday. The company has a debt-to-equity ratio of 0.22, a quick ratio of 3.17 and a current ratio of 4.15. The firm has a market capitalization of $16.71 billion, a price-to-earnings ratio of 16.39, a price-to-earnings-growth ratio of 2.21 and a beta of 0.78. Snap-on Incorporated has a one year low of $252.98 and a one year high of $373.90. The company has a 50 day moving average price of $322.12 and a 200 day moving average price of $338.48.

Snap-on (NYSE:SNA) last released its quarterly earnings data on Thursday, April 17th. The company reported $4.51 EPS for the quarter, missing analysts’ consensus estimates of $4.81 by ($0.30). The firm had revenue of $1.14 billion for the quarter, compared to analyst estimates of $1.20 billion. Snap-on had a return on equity of 19.20% and a net margin of 21.71%. During the same quarter in the previous year, the company earned $4.91 earnings per share. Sell-side analysts anticipate that Snap-on Incorporated will post 19.79 EPS for the current year.

Snap-on Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Tuesday, May 20th will be issued a $2.14 dividend. The ex-dividend date is Tuesday, May 20th. This represents a $8.56 dividend on an annualized basis and a dividend yield of 2.68%. Snap-on’s dividend payout ratio (DPR) is 44.82%.

Insider Activity

In other news, CEO Nicholas T. Pinchuk sold 22,700 shares of the stock in a transaction on Thursday, March 27th. The shares were sold at an average price of $335.32, for a total value of $7,611,764.00. Following the completion of the sale, the chief executive officer now owns 793,932 shares of the company’s stock, valued at $266,221,278.24. This represents a 2.78% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Aldo John Pagliari sold 5,553 shares of the firm’s stock in a transaction on Thursday, May 15th. The shares were sold at an average price of $326.84, for a total transaction of $1,814,942.52. Following the completion of the transaction, the chief financial officer now directly owns 109,560 shares in the company, valued at approximately $35,808,590.40. This represents a 4.82% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 3.90% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the stock. Wall Street Zen raised shares of Snap-on from a “hold” rating to a “buy” rating in a research note on Friday, May 16th. Longbow Research raised shares of Snap-on from a “neutral” rating to a “buy” rating and set a $400.00 price objective on the stock in a research note on Monday, March 31st. Tigress Financial raised their target price on shares of Snap-on from $385.00 to $390.00 and gave the stock a “buy” rating in a research report on Tuesday, March 4th. Robert W. Baird cut their price target on Snap-on from $349.00 to $320.00 and set a “neutral” rating for the company in a report on Monday, April 21st. Finally, Barrington Research restated an “outperform” rating and set a $350.00 price objective on shares of Snap-on in a report on Monday, May 19th. One analyst has rated the stock with a sell rating, one has issued a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, Snap-on presently has an average rating of “Moderate Buy” and a consensus price target of $350.83.

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.