Mizuho Securities USA LLC Raises Stake in Snap-on Incorporated (NYSE:SNA)

Mizuho Securities USA LLC increased its stake in shares of Snap-on Incorporated (NYSE:SNA) by 45.7% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 4,976 shares of the company’s stock after buying an additional 1,560 shares during the period. Mizuho Securities USA LLC’s holdings in Snap-on were worth $1,689,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the stock. UMB Bank n.a. increased its stake 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. bought a new position in Snap-on during the fourth quarter valued at $26,000. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in Snap-on in the fourth quarter worth $28,000. Brooklyn Investment Group bought a new stake in shares of Snap-on in the third quarter valued at $39,000. Finally, TCTC Holdings LLC lifted its position in shares of Snap-on by 41.3% during the 4th quarter. TCTC Holdings LLC now owns 147 shares of the company’s stock valued at $50,000 after buying an additional 43 shares during the last quarter. Institutional investors own 84.88% of the company’s stock.

Insiders Place Their Bets

In other news, SVP Jesus Arregui sold 6,451 shares of the stock in a transaction on Monday, February 10th. The shares were sold at an average price of $337.81, for a total value of $2,179,212.31. Following the transaction, the senior vice president now owns 257 shares of the company’s stock, valued at $86,817.17. This represents a 96.17 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, 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 transaction of $2,325,883.00. Following the sale, the chief financial officer now directly owns 107,096 shares of the company’s stock, valued at $36,310,898.80. This represents a 6.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 4.10% of the company’s stock.

Snap-on Stock Performance

NYSE:SNA opened at $335.99 on Wednesday. The business’s fifty day moving average is $340.87 and its 200 day moving average is $332.70. The firm has a market cap of $17.61 billion, a price-to-earnings ratio of 17.23, a PEG ratio of 2.21 and a beta of 0.99. The company has a debt-to-equity ratio of 0.22, a quick ratio of 3.17 and a current ratio of 4.15. Snap-on Incorporated has a 52-week low of $252.98 and a 52-week high of $373.90.

Snap-on (NYSE:SNA) last announced its quarterly earnings results on Thursday, February 6th. The company reported $4.82 earnings per share for the quarter, beating the consensus estimate 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 quarter in the previous year, the firm earned $4.75 EPS. Research analysts predict that Snap-on Incorporated will post 19.79 EPS for the current year.

Snap-on Announces Dividend

The firm also recently announced 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. This represents a $8.56 annualized dividend and a yield of 2.55%. The ex-dividend date of this dividend was Monday, February 24th. Snap-on’s payout ratio is 43.90%.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on SNA. Barrington Research reissued an “outperform” rating and issued a $350.00 price objective on shares of Snap-on in a report on Monday, February 10th. Tigress Financial lifted their target price on shares of Snap-on from $385.00 to $390.00 and gave the stock a “buy” rating in a research note on Tuesday, March 4th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, Snap-on has an average rating of “Hold” and a consensus 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.