Allspring Global Investments Holdings LLC Purchases 8,471 Shares of Snap-on Incorporated (NYSE:SNA)

Allspring Global Investments Holdings LLC increased its stake in shares of Snap-on Incorporated (NYSE:SNA) by 89.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,951 shares of the company’s stock after buying an additional 8,471 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Snap-on were worth $6,016,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. UMB Bank n.a. grew its position in Snap-on by 70.5% during the fourth quarter. UMB Bank n.a. now owns 75 shares of the company’s stock worth $25,000 after buying an additional 31 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in shares of Snap-on in the 4th quarter valued at $28,000. Reston Wealth Management LLC acquired a new stake in shares of Snap-on in the 3rd quarter valued at $30,000. Brooklyn Investment Group acquired a new stake in shares of Snap-on in the 3rd quarter valued at $39,000. Finally, Private Trust Co. NA boosted its holdings in shares of Snap-on by 38.2% during the 3rd quarter. Private Trust Co. NA now owns 217 shares of the company’s stock valued at $63,000 after acquiring an additional 60 shares in the last quarter. Institutional investors and hedge funds own 84.88% of the company’s stock.

Snap-on Stock Performance

Shares of SNA opened at $341.91 on Thursday. 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 stock has a 50-day moving average of $344.52 and a 200-day moving average of $322.65. The company has a market cap of $17.91 billion, a PE ratio of 17.53, a P/E/G ratio of 2.21 and a beta of 0.99. Snap-on Incorporated has a one year low of $252.98 and a one year high of $373.89.

Snap-on (NYSE:SNA) last released its quarterly earnings results on Thursday, February 6th. The company reported $4.82 earnings per share (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 quarter in the prior year, the company posted $4.75 earnings per share. On average, equities research analysts predict that Snap-on Incorporated will post 19.79 EPS for the current fiscal year.

Snap-on Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Stockholders of record on Monday, February 24th will be paid a $2.14 dividend. The ex-dividend date of this dividend is Monday, February 24th. This represents a $8.56 dividend on an annualized basis and a dividend yield of 2.50%. Snap-on’s payout ratio is presently 43.90%.

Insider Transactions at Snap-on

In related news, CEO Nicholas T. Pinchuk sold 21,783 shares of Snap-on stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $354.83, for a total value of $7,729,261.89. Following the sale, the chief executive officer now owns 769,738 shares of the company’s stock, valued at approximately $273,126,134.54. The trade was a 2.75 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Jesus Arregui sold 6,451 shares of the business’s stock in a transaction on Monday, February 10th. The shares were sold at an average price of $337.81, for a total transaction of $2,179,212.31. Following the sale, the senior vice president now directly owns 257 shares in the company, valued at $86,817.17. The trade was a 96.17 % 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 90 days. Insiders own 4.10% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently weighed in on SNA. Tigress Financial raised their price objective on Snap-on from $336.00 to $385.00 and gave the company a “buy” rating in a report on Friday, October 25th. Barrington Research reaffirmed an “outperform” rating and set a $350.00 target price on shares of Snap-on in a research report on Monday, February 10th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $345.40.

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.