Daiwa Securities Group Inc. Buys 490 Shares of Snap-on Incorporated (NYSE:SNA)

Daiwa Securities Group Inc. boosted its stake in Snap-on Incorporated (NYSE:SNA) by 7.6% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 6,943 shares of the company’s stock after acquiring an additional 490 shares during the period. Daiwa Securities Group Inc.’s holdings in Snap-on were worth $2,357,000 as of its most recent filing with the SEC.

Several other large investors have also recently modified their holdings of SNA. State Street Corp grew its stake in Snap-on by 0.5% in the 3rd quarter. State Street Corp now owns 2,115,973 shares of the company’s stock worth $613,019,000 after buying an additional 10,645 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in Snap-on by 4.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,806,278 shares of the company’s stock valued at $613,195,000 after buying an additional 77,486 shares during the last quarter. Geode Capital Management LLC raised its holdings in Snap-on by 4.5% during the 3rd quarter. Geode Capital Management LLC now owns 1,613,459 shares of the company’s stock valued at $466,199,000 after buying an additional 69,590 shares during the last quarter. Nordea Investment Management AB increased its position in Snap-on by 12.8% during the 4th quarter. Nordea Investment Management AB now owns 1,128,317 shares of the company’s stock valued at $384,813,000 after purchasing an additional 127,859 shares during the period. Finally, Pacer Advisors Inc. increased its position in Snap-on by 9.4% during the 3rd quarter. Pacer Advisors Inc. now owns 907,655 shares of the company’s stock valued at $262,957,000 after purchasing an additional 78,184 shares during the period. Hedge funds and other institutional investors own 84.88% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. Tigress Financial upped 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. Barrington Research restated an “outperform” rating and set a $350.00 target price on shares of Snap-on in a research note on Monday, February 10th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, Snap-on has a consensus rating of “Hold” and an average price target of $346.40.

Insiders Place Their Bets

In related news, CFO Aldo John Pagliari sold 6,909 shares of the firm’s stock in a transaction dated Wednesday, December 18th. The stock was sold at an average price of $347.62, for a total transaction of $2,401,706.58. Following the completion of the sale, the chief financial officer now directly owns 100,668 shares of the company’s stock, valued at approximately $34,994,210.16. This trade represents a 6.42 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Jesus Arregui sold 6,451 shares of Snap-on stock in a transaction dated 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 completion of the transaction, the senior vice president now directly owns 257 shares of the company’s stock, valued at approximately $86,817.17. This represents a 96.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 20,220 shares of company stock valued at $6,906,802 in the last three months. 4.10% of the stock is currently owned by insiders.

Snap-on Stock Performance

SNA stock opened at $331.93 on Friday. The business has a 50-day moving average price of $341.60 and a 200 day moving average price of $329.06. Snap-on Incorporated has a 1-year low of $252.98 and a 1-year 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. The company has a market capitalization of $17.39 billion, a P/E ratio of 17.02, a PEG ratio of 2.21 and a beta of 0.99.

Snap-on (NYSE:SNA) last issued its earnings results on Thursday, February 6th. The company reported $4.82 EPS for the quarter, beating analysts’ consensus estimates 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 period last year, the company earned $4.75 EPS. As a group, equities research analysts forecast that Snap-on Incorporated will post 19.79 EPS for the current fiscal year.

Snap-on Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Monday, February 24th were issued a $2.14 dividend. The ex-dividend date of this dividend was Monday, February 24th. This represents a $8.56 dividend on an annualized basis and a yield of 2.58%. Snap-on’s payout ratio is currently 43.90%.

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.