SBI Securities Co. Ltd. Acquires New Stake in Snap-on Incorporated (NYSE:SNA)

SBI Securities Co. Ltd. bought a new position in Snap-on Incorporated (NYSE:SNA) in the 4th quarter, according to its most recent filing with the SEC. The institutional investor bought 78 shares of the company’s stock, valued at approximately $26,000.

Several other hedge funds have also made changes to their positions in SNA. UMB Bank n.a. raised its position in shares of Snap-on by 70.5% in the 4th quarter. UMB Bank n.a. now owns 75 shares of the company’s stock worth $25,000 after acquiring an additional 31 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. acquired a new position in Snap-on during the 4th quarter valued at about $28,000. Brooklyn Investment Group acquired a new position in shares of Snap-on in the third quarter valued at about $39,000. Private Trust Co. NA increased its holdings in shares of Snap-on by 38.2% in the third quarter. Private Trust Co. NA now owns 217 shares of the company’s stock valued at $63,000 after purchasing an additional 60 shares during the period. Finally, Asset Planning Inc acquired a new position in shares of Snap-on in the fourth quarter valued at about $68,000. 84.88% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

SNA has been the topic of a number of recent research reports. Tigress Financial upped their target price on Snap-on from $385.00 to $390.00 and gave the stock a “buy” rating in a research note on Tuesday, March 4th. Barrington Research reiterated an “outperform” rating and set a $350.00 price target 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 issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $346.40.

Snap-on Price Performance

NYSE:SNA opened at $323.15 on Friday. Snap-on Incorporated has a one year low of $252.98 and a one year high of $373.90. The company has a debt-to-equity ratio of 0.22, a quick ratio of 3.17 and a current ratio of 4.15. The stock has a market cap of $16.93 billion, a PE ratio of 16.57, a P/E/G ratio of 2.21 and a beta of 0.99. The stock has a 50 day moving average price of $341.84 and a 200 day moving average price of $329.10.

Snap-on (NYSE:SNA) last posted its quarterly earnings results on Thursday, February 6th. The company reported $4.82 EPS for the quarter, beating the consensus estimate 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 in the previous year, the firm earned $4.75 earnings per share. Equities research analysts expect 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 was paid on Monday, March 10th. Shareholders of record on Monday, February 24th were paid a dividend of $2.14 per share. The ex-dividend date was Monday, February 24th. This represents a $8.56 annualized dividend and a yield of 2.65%. Snap-on’s dividend payout ratio (DPR) is 43.90%.

Insider Transactions at Snap-on

In related news, SVP Jesus Arregui sold 6,451 shares of Snap-on stock in a transaction on Monday, February 10th. The stock was 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 in the company, valued at approximately $86,817.17. This trade represents a 96.17 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Aldo John Pagliari sold 6,860 shares of Snap-on stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $339.05, for a total value of $2,325,883.00. Following the completion of the transaction, the chief financial officer now owns 107,096 shares of the company’s stock, valued at approximately $36,310,898.80. This trade represents a 6.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 20,220 shares of company stock worth $6,906,802 over the last ninety days. Company insiders own 4.10% of the company’s stock.

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.