Snap-On Incorporated $SNA Shares Acquired by SouthState Bank Corp

SouthState Bank Corp increased its position in shares of Snap-On Incorporated (NYSE:SNA) by 6.4% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 26,001 shares of the company’s stock after buying an additional 1,566 shares during the period. SouthState Bank Corp’s holdings in Snap-On were worth $9,010,000 at the end of the most recent reporting period.

A number of other institutional investors also recently added to or reduced their stakes in the company. BankPlus Trust Department increased its position in shares of Snap-On by 5.9% in the 3rd quarter. BankPlus Trust Department now owns 541 shares of the company’s stock valued at $187,000 after purchasing an additional 30 shares during the last quarter. Nisa Investment Advisors LLC grew its stake in shares of Snap-On by 0.4% during the third quarter. Nisa Investment Advisors LLC now owns 7,346 shares of the company’s stock worth $2,546,000 after purchasing an additional 31 shares in the last quarter. Cardinal Capital Management increased its holdings in Snap-On by 0.3% in the third quarter. Cardinal Capital Management now owns 11,197 shares of the company’s stock valued at $3,880,000 after buying an additional 32 shares during the last quarter. Penserra Capital Management LLC raised its stake in Snap-On by 13.5% in the second quarter. Penserra Capital Management LLC now owns 278 shares of the company’s stock valued at $86,000 after buying an additional 33 shares in the last quarter. Finally, PAX Financial Group LLC lifted its holdings in Snap-On by 5.4% during the 2nd quarter. PAX Financial Group LLC now owns 663 shares of the company’s stock worth $206,000 after buying an additional 34 shares during the last quarter. Hedge funds and other institutional investors own 84.88% of the company’s stock.

Insider Buying and Selling at Snap-On

In other Snap-On news, CEO Nicholas T. Pinchuk sold 22,607 shares of the stock in a transaction that occurred on Tuesday, December 2nd. The stock was sold at an average price of $339.15, for a total transaction of $7,667,164.05. Following the completion of the sale, the chief executive officer directly owned 826,364 shares of the company’s stock, valued at approximately $280,261,350.60. This trade represents a 2.66% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Aldo John Pagliari sold 6,779 shares of Snap-On stock in a transaction that occurred on Thursday, December 11th. The shares were sold at an average price of $352.20, for a total value of $2,387,563.80. Following the completion of the transaction, the chief financial officer owned 111,888 shares in the company, valued at $39,406,953.60. This trade represents a 5.71% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 40,036 shares of company stock worth $13,710,988 over the last three months. 3.90% of the stock is currently owned by corporate insiders.

Snap-On Stock Up 1.3%

SNA stock opened at $383.29 on Thursday. The company has a market cap of $19.93 billion, a price-to-earnings ratio of 20.10, a price-to-earnings-growth ratio of 2.66 and a beta of 0.81. The company has a fifty day moving average price of $355.76 and a 200 day moving average price of $341.17. The company has a debt-to-equity ratio of 0.20, a current ratio of 4.40 and a quick ratio of 3.37. Snap-On Incorporated has a 12 month low of $289.81 and a 12 month high of $387.25.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on SNA. Tigress Financial raised their target price on Snap-On from $395.00 to $405.00 and gave the stock a “buy” rating in a research report on Tuesday, October 21st. Wall Street Zen upgraded shares of Snap-On from a “hold” rating to a “buy” rating in a report on Saturday, October 18th. Robert W. Baird set a $370.00 price target on shares of Snap-On in a research note on Friday, January 30th. Roth Mkm reissued a “buy” rating and issued a $385.00 price target on shares of Snap-On in a research report on Friday, October 17th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Snap-On in a research note on Wednesday, January 21st. Five analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $365.83.

About Snap-On

Snap‑On Incorporated (NYSE: SNA) is a designer, manufacturer and marketer of tools, diagnostic equipment, repair information and shop equipment for professional users. The company’s product range includes hand and power tools, tool storage and cabinets, diagnostic scan tools and software, shop equipment such as lifts and tire changers, and specialized specialty tools for automotive, aviation, marine and industrial applications. Snap‑On also offers information and workflow solutions that combine diagnostic data, repair procedures and parts information to support professional technicians.

Founded in 1920 and headquartered in Kenosha, Wisconsin, Snap‑On has established a long history in the professional tools market.