Asset Management One Co. Ltd. Grows Stock Holdings in Snap-on Incorporated (NYSE:SNA)

Asset Management One Co. Ltd. increased its stake in shares of Snap-on Incorporated (NYSE:SNA) by 7.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 21,296 shares of the company’s stock after buying an additional 1,400 shares during the period. Asset Management One Co. Ltd.’s holdings in Snap-on were worth $7,316,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently modified their holdings of SNA. UMB Bank n.a. lifted its holdings in shares of Snap-on by 70.5% in the fourth quarter. UMB Bank n.a. now owns 75 shares of the company’s stock valued at $25,000 after purchasing an additional 31 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in shares of Snap-on in the fourth quarter valued at about $28,000. Reston Wealth Management LLC purchased a new stake in shares of Snap-on in the third quarter valued at about $30,000. Brooklyn Investment Group purchased a new stake in shares of Snap-on in the third quarter valued at about $39,000. Finally, nVerses Capital LLC purchased a new stake in shares of Snap-on in the third quarter valued at about $58,000. Hedge funds and other institutional investors own 84.88% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. Roth Mkm upped their price target on shares of Snap-on from $324.00 to $365.00 and gave the company a “buy” rating in a report on Tuesday, October 22nd. Tigress Financial upped their price objective on shares of Snap-on from $336.00 to $385.00 and gave the company a “buy” rating in a research note on Friday, October 25th. Finally, Barrington Research reissued an “outperform” rating and set a $350.00 price objective on shares of Snap-on in a research note on Monday, February 10th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the company. According to MarketBeat, Snap-on has a consensus rating of “Hold” and an average price target of $345.40.

Snap-on Price Performance

SNA opened at $339.12 on Tuesday. The company has a fifty day simple moving average of $345.04 and a 200 day simple moving average of $322.05. The firm has a market cap of $17.81 billion, a price-to-earnings ratio of 17.39, a PEG ratio of 2.13 and a beta of 0.99. Snap-on Incorporated has a twelve month low of $252.98 and a twelve month high of $373.89. The company has a current ratio of 4.15, a quick ratio of 3.14 and a debt-to-equity ratio of 0.22.

Snap-on (NYSE:SNA) last posted its quarterly earnings data 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 net margin of 21.71% and a return on equity of 19.20%. During the same quarter in the prior year, the business posted $4.75 EPS. Equities research analysts expect that Snap-on Incorporated will post 20.07 EPS for the current fiscal year.

Snap-on Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Monday, February 24th will be paid a dividend of $2.14 per share. The ex-dividend date is Monday, February 24th. This represents a $8.56 dividend on an annualized basis and a yield of 2.52%. Snap-on’s dividend payout ratio (DPR) is 43.90%.

Insider Buying and Selling at Snap-on

In related news, VP June C. Lemerand sold 3,500 shares of the stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $362.86, for a total value of $1,270,010.00. Following the sale, the vice president now owns 2,289 shares of the company’s stock, valued at $830,586.54. This trade represents a 60.46 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Nicholas T. Pinchuk sold 21,783 shares of the stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $354.83, for a total transaction of $7,729,261.89. Following the completion of the sale, the chief executive officer now directly owns 769,738 shares in the company, valued at approximately $273,126,134.54. This trade represents a 2.75 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 38,643 shares of company stock worth $13,580,191 in the last ninety days. 4.10% of the stock is owned by 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.