US Bancorp DE Sells 367 Shares of Snap-on Incorporated (NYSE:SNA)

US Bancorp DE trimmed its position in Snap-on Incorporated (NYSE:SNA) by 1.1% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 33,502 shares of the company’s stock after selling 367 shares during the quarter. US Bancorp DE’s holdings in Snap-on were worth $9,925,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the company. Nordea Investment Management AB raised its position in Snap-on by 3.2% during the first quarter. Nordea Investment Management AB now owns 891,994 shares of the company’s stock valued at $265,217,000 after purchasing an additional 27,429 shares during the period. Dimensional Fund Advisors LP raised its position in Snap-on by 0.4% during the fourth quarter. Dimensional Fund Advisors LP now owns 773,087 shares of the company’s stock valued at $223,304,000 after purchasing an additional 3,449 shares during the period. Envestnet Asset Management Inc. raised its position in Snap-on by 2.3% during the fourth quarter. Envestnet Asset Management Inc. now owns 755,445 shares of the company’s stock valued at $218,203,000 after purchasing an additional 16,972 shares during the period. LSV Asset Management raised its position in Snap-on by 0.5% during the first quarter. LSV Asset Management now owns 674,341 shares of the company’s stock valued at $199,753,000 after purchasing an additional 3,535 shares during the period. Finally, Confluence Investment Management LLC purchased a new stake in shares of Snap-on in the first quarter worth approximately $173,451,000. 84.88% of the stock is owned by institutional investors.

Snap-on Trading Up 3.0 %

NYSE:SNA traded up $8.06 during midday trading on Tuesday, hitting $278.91. The stock had a trading volume of 396,231 shares, compared to its average volume of 299,483. Snap-on Incorporated has a one year low of $249.84 and a one year high of $298.49. The company has a market capitalization of $14.70 billion, a price-to-earnings ratio of 14.63, a PEG ratio of 1.86 and a beta of 0.98. The stock has a 50-day moving average of $268.48 and a 200 day moving average of $277.71. The company has a quick ratio of 2.83, a current ratio of 3.82 and a debt-to-equity ratio of 0.23.

Snap-on (NYSE:SNA) last announced its quarterly earnings data on Thursday, April 18th. The company reported $4.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.66 by $0.09. Snap-on had a return on equity of 20.46% and a net margin of 21.69%. The company had revenue of $1.18 billion for the quarter, compared to analysts’ expectations of $1.20 billion. During the same quarter in the prior year, the firm earned $4.60 earnings per share. Snap-on’s revenue was down .1% compared to the same quarter last year. As a group, sell-side analysts forecast that Snap-on Incorporated will post 19.01 EPS for the current year.

Snap-on Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, June 10th. Shareholders of record on Monday, May 20th were given a dividend of $1.86 per share. The ex-dividend date was Friday, May 17th. This represents a $7.44 annualized dividend and a yield of 2.67%. Snap-on’s dividend payout ratio (DPR) is presently 39.03%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on SNA shares. Barrington Research reiterated an “outperform” rating and issued a $325.00 price target on shares of Snap-on in a report on Tuesday. Roth Mkm reiterated a “buy” rating and issued a $324.00 price target on shares of Snap-on in a report on Tuesday. Finally, Robert W. Baird reduced their price target on Snap-on from $282.00 to $275.00 and set a “neutral” rating on the stock in a report on Friday. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $315.00.

Insider Buying and Selling at Snap-on

In other Snap-on news, CFO Aldo John Pagliari sold 5,978 shares of the stock in a transaction on Tuesday, May 21st. The stock was sold at an average price of $276.86, for a total transaction of $1,655,069.08. Following the sale, the chief financial officer now owns 97,699 shares of the company’s stock, valued at approximately $27,048,945.14. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CFO Aldo John Pagliari sold 5,978 shares of the firm’s stock in a transaction on Tuesday, May 21st. The stock was sold at an average price of $276.86, for a total value of $1,655,069.08. Following the completion of the sale, the chief financial officer now owns 97,699 shares of the company’s stock, valued at approximately $27,048,945.14. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Jesus Arregui sold 8,434 shares of the firm’s stock in a transaction on Wednesday, May 29th. The stock was sold at an average price of $265.17, for a total value of $2,236,443.78. Following the completion of the sale, the senior vice president now directly owns 252 shares of the company’s stock, valued at approximately $66,822.84. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 38,632 shares of company stock valued at $10,353,409. 4.10% of the stock is currently owned by corporate insiders.

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.