Nomura Holdings Inc. Buys Shares of 1,729 Snap-on Incorporated (NYSE:SNA)

Nomura Holdings Inc. bought a new stake in Snap-on Incorporated (NYSE:SNA) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 1,729 shares of the company’s stock, valued at approximately $587,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. UMB Bank n.a. raised its position in Snap-on by 70.5% in the fourth quarter. UMB Bank n.a. now owns 75 shares of the company’s stock worth $25,000 after acquiring an additional 31 shares in the last quarter. SBI Securities Co. Ltd. purchased a new position in Snap-on during the fourth quarter valued at approximately $26,000. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in Snap-on during the fourth quarter valued at $28,000. CoreFirst Bank & Trust bought a new position in Snap-on during the fourth quarter valued at approximately $40,000. Finally, TCTC Holdings LLC increased its position in Snap-on by 41.3% during the fourth quarter. TCTC Holdings LLC now owns 147 shares of the company’s stock worth $50,000 after buying an additional 43 shares during the last quarter. 84.88% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

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

Snap-on Price Performance

Shares of SNA opened at $326.71 on Wednesday. The firm has a market capitalization of $17.08 billion, a PE ratio of 16.75, a PEG ratio of 2.21 and a beta of 0.78. The company’s 50-day moving average is $322.66 and its 200-day moving average is $338.76. Snap-on Incorporated has a fifty-two week low of $252.98 and a fifty-two week high of $373.90. The company has a debt-to-equity ratio of 0.22, a current ratio of 4.15 and a quick ratio of 3.17.

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

Snap-on Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Tuesday, May 20th will be paid a dividend of $2.14 per share. The ex-dividend date of this dividend is Tuesday, May 20th. This represents a $8.56 dividend on an annualized basis and a yield of 2.62%. Snap-on’s payout ratio is 44.82%.

Insiders Place Their Bets

In other news, CFO Aldo John Pagliari sold 5,553 shares of the stock in a transaction dated Thursday, May 15th. The shares were sold at an average price of $326.84, for a total value of $1,814,942.52. Following the completion of the transaction, the chief financial officer now owns 109,560 shares of the company’s stock, valued at approximately $35,808,590.40. This represents a 4.82% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Nicholas T. Pinchuk sold 22,700 shares of the stock in a transaction dated Thursday, March 27th. The stock was sold at an average price of $335.32, for a total transaction of $7,611,764.00. Following the completion of the transaction, the chief executive officer now directly owns 793,932 shares of the company’s stock, valued at $266,221,278.24. This trade represents a 2.78% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 35,113 shares of company stock worth $11,752,590 over the last ninety days. Corporate insiders own 3.90% of the company’s stock.

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.