Snap-on Incorporated (NYSE:SNA) Stock Holdings Lessened by JPMorgan Chase & Co.

JPMorgan Chase & Co. lessened its holdings in shares of Snap-on Incorporated (NYSE:SNA) by 49.4% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 645,848 shares of the company’s stock after selling 630,454 shares during the period. JPMorgan Chase & Co. owned 1.23% of Snap-on worth $187,109,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of SNA. Reston Wealth Management LLC acquired a new position in shares of Snap-on during the third quarter valued at $30,000. Massmutual Trust Co. FSB ADV increased its position in Snap-on by 53.0% in the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 127 shares of the company’s stock valued at $37,000 after acquiring an additional 44 shares during the period. Brooklyn Investment Group acquired a new stake in Snap-on in the 3rd quarter valued at approximately $39,000. Quarry LP raised its stake in Snap-on by 244.7% during the 2nd quarter. Quarry LP now owns 162 shares of the company’s stock valued at $42,000 after acquiring an additional 115 shares in the last quarter. Finally, nVerses Capital LLC bought a new position in shares of Snap-on in the third quarter worth $58,000. Institutional investors and hedge funds own 84.88% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on SNA shares. Roth Mkm lifted their price objective on shares of Snap-on from $324.00 to $365.00 and gave the company a “buy” rating in a research note on Tuesday, October 22nd. Robert W. Baird upped their price target on shares of Snap-on from $290.00 to $347.00 and gave the stock a “neutral” rating in a research note on Friday, October 18th. Bank of America raised their price objective on shares of Snap-on from $255.00 to $280.00 and gave the company an “underperform” rating in a research note on Friday, October 18th. Barrington Research upped their target price on Snap-on from $325.00 to $350.00 and gave the stock an “outperform” rating in a research report on Thursday, October 17th. Finally, Tigress Financial lifted their price target on Snap-on from $336.00 to $385.00 and gave the company a “buy” rating in a research report on Friday, October 25th. One analyst has rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $345.40.

Snap-on Trading Down 0.1 %

Shares of NYSE:SNA opened at $339.48 on Wednesday. The company has a debt-to-equity ratio of 0.22, a quick ratio of 3.14 and a current ratio of 4.18. The stock has a market capitalization of $17.83 billion, a price-to-earnings ratio of 17.47, a PEG ratio of 2.35 and a beta of 0.98. Snap-on Incorporated has a 1-year low of $252.98 and a 1-year high of $373.89. The company has a 50 day moving average price of $350.62 and a 200 day moving average price of $303.86.

Snap-on (NYSE:SNA) last released its quarterly earnings data on Thursday, October 17th. The company reported $4.70 earnings per share for the quarter, topping the consensus estimate of $4.58 by $0.12. Snap-on had a return on equity of 19.44% and a net margin of 22.13%. The business had revenue of $1.15 billion during the quarter, compared to analyst estimates of $1.16 billion. On average, research analysts anticipate that Snap-on Incorporated will post 19.05 EPS for the current fiscal year.

Snap-on Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Thursday, November 21st were paid a dividend of $2.14 per share. The ex-dividend date of this dividend was Thursday, November 21st. This is a positive change from Snap-on’s previous quarterly dividend of $1.86. This represents a $8.56 dividend on an annualized basis and a yield of 2.52%. Snap-on’s dividend payout ratio is currently 44.06%.

Insiders Place Their Bets

In related news, VP Richard Thomas Miller sold 1,750 shares of the stock in a transaction dated Friday, October 18th. The stock was sold at an average price of $330.00, for a total value of $577,500.00. Following the completion of the sale, the vice president now directly owns 3,218 shares of the company’s stock, valued at approximately $1,061,940. This represents a 35.23 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Iain Boyd sold 6,044 shares of the company’s stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $298.99, for a total value of $1,807,095.56. Following the completion of the transaction, the vice president now owns 10,493 shares in the company, valued at $3,137,302.07. This represents a 36.55 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 52,723 shares of company stock worth $18,029,670 over the last ninety days. 4.10% of the stock is currently owned by company insiders.

About Snap-on

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.