Swiss National Bank Sells 7,800 Shares of Snap-On Incorporated $SNA

Swiss National Bank reduced its holdings in Snap-On Incorporated (NYSE:SNA) by 4.9% in the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 150,800 shares of the company’s stock after selling 7,800 shares during the quarter. Swiss National Bank’s holdings in Snap-On were worth $52,257,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Tobam bought a new stake in shares of Snap-On in the second quarter worth $29,000. Vermillion & White Wealth Management Group LLC raised its position in Snap-On by 97.9% during the 2nd quarter. Vermillion & White Wealth Management Group LLC now owns 95 shares of the company’s stock worth $30,000 after purchasing an additional 47 shares during the last quarter. SJS Investment Consulting Inc. lifted its holdings in Snap-On by 1,880.0% during the 3rd quarter. SJS Investment Consulting Inc. now owns 99 shares of the company’s stock worth $34,000 after buying an additional 94 shares during the period. Quent Capital LLC acquired a new position in Snap-On during the 3rd quarter worth about $36,000. Finally, CoreFirst Bank & Trust bought a new stake in shares of Snap-On in the 2nd quarter valued at about $37,000. Institutional investors own 84.88% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on SNA shares. Roth Mkm reissued a “buy” rating and issued a $409.00 price target (up from $385.00) on shares of Snap-On in a research note on Tuesday, February 10th. Robert W. Baird set a $375.00 target price on Snap-On in a report on Friday, February 6th. Weiss Ratings reissued a “buy (b)” rating on shares of Snap-On in a research report on Wednesday, January 21st. Wall Street Zen lowered shares of Snap-On from a “buy” rating to a “hold” rating in a report on Saturday, February 7th. Finally, Tigress Financial boosted their price target on shares of Snap-On from $405.00 to $445.00 and gave the stock a “buy” rating in a research report on Friday, February 27th. Five equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $377.33.

Snap-On Trading Down 1.6%

NYSE:SNA opened at $364.01 on Friday. The company has a debt-to-equity ratio of 0.20, a current ratio of 4.79 and a quick ratio of 3.68. Snap-On Incorporated has a one year low of $289.81 and a one year high of $390.13. The company has a market cap of $18.90 billion, a PE ratio of 18.97, a PEG ratio of 2.55 and a beta of 0.78. The firm has a 50-day moving average of $372.52 and a 200-day moving average of $350.90.

Snap-On (NYSE:SNA) last announced its quarterly earnings results on Thursday, February 5th. The company reported $4.94 earnings per share for the quarter, beating the consensus estimate of $4.86 by $0.08. The business had revenue of $1.23 billion for the quarter, compared to analysts’ expectations of $1.24 billion. Snap-On had a net margin of 21.44% and a return on equity of 17.34%. The firm’s revenue for the quarter was up 2.8% compared to the same quarter last year. During the same quarter last year, the firm earned $4.82 EPS. As a group, equities research analysts expect that Snap-On Incorporated will post 19.79 EPS for the current fiscal year.

Snap-On Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 10th. Stockholders of record on Tuesday, February 24th were issued a $2.44 dividend. This represents a $9.76 dividend on an annualized basis and a dividend yield of 2.7%. The ex-dividend date was Tuesday, February 24th. Snap-On’s dividend payout ratio (DPR) is currently 50.86%.

Insider Buying and Selling

In related news, SVP Timothy L. Chambers sold 8,000 shares of the stock in a transaction on Wednesday, February 4th. The stock was sold at an average price of $385.13, for a total value of $3,081,040.00. Following the completion of the sale, the senior vice president directly owned 19,480 shares of the company’s stock, valued at approximately $7,502,332.40. This represents a 29.11% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Nicholas T. Pinchuk sold 23,229 shares of the firm’s stock in a transaction on Monday, February 23rd. The shares were sold at an average price of $383.36, for a total value of $8,905,069.44. Following the transaction, the chief executive officer owned 846,562 shares in the company, valued at approximately $324,538,008.32. This trade represents a 2.67% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 39,650 shares of company stock worth $15,210,959 over the last three months. Company insiders own 3.90% of the company’s stock.

Snap-On Company Profile

Snap‑On Incorporated (NYSE: SNA) is a designer, manufacturer and marketer of tools, diagnostic equipment, repair information and shop equipment for professional users. The company’s product range includes hand and power tools, tool storage and cabinets, diagnostic scan tools and software, shop equipment such as lifts and tire changers, and specialized specialty tools for automotive, aviation, marine and industrial applications. Snap‑On also offers information and workflow solutions that combine diagnostic data, repair procedures and parts information to support professional technicians.

Founded in 1920 and headquartered in Kenosha, Wisconsin, Snap‑On has established a long history in the professional tools market.