Johnson Financial Group Inc. Boosts Holdings in Snap-On Incorporated $SNA

Johnson Financial Group Inc. grew its holdings in Snap-On Incorporated (NYSE:SNA) by 4,066.4% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 25,332 shares of the company’s stock after buying an additional 24,724 shares during the quarter. Johnson Financial Group Inc.’s holdings in Snap-On were worth $8,778,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Tobam acquired a new stake in shares of Snap-On in the second quarter worth $29,000. Vermillion & White Wealth Management Group LLC increased its holdings in Snap-On by 97.9% in the 2nd quarter. Vermillion & White Wealth Management Group LLC now owns 95 shares of the company’s stock valued at $30,000 after purchasing an additional 47 shares during the last quarter. SJS Investment Consulting Inc. boosted its holdings in Snap-On by 1,880.0% in the 3rd quarter. SJS Investment Consulting Inc. now owns 99 shares of the company’s stock worth $34,000 after acquiring an additional 94 shares during the period. Quent Capital LLC bought a new position in shares of Snap-On during the 3rd quarter worth approximately $36,000. Finally, CoreFirst Bank & Trust acquired a new position in shares of Snap-On in the 2nd quarter valued at about $37,000. 84.88% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, CFO Aldo John Pagliari sold 7,043 shares of the stock in a transaction that occurred on Thursday, February 19th. The shares were sold at an average price of $382.05, for a total value of $2,690,778.15. Following the completion of the transaction, the chief financial officer directly owned 117,183 shares of the company’s stock, valued at $44,769,765.15. This trade represents a 5.67% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP June C. Lemerand sold 1,378 shares of the company’s stock in a transaction dated Wednesday, February 25th. The stock was sold at an average price of $387.57, for a total transaction of $534,071.46. Following the completion of the transaction, the vice president owned 2,913 shares of the company’s stock, valued at approximately $1,128,991.41. This trade represents a 32.11% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 39,650 shares of company stock valued at $15,210,959. 3.90% of the stock is owned by insiders.

Analyst Ratings Changes

A number of brokerages have recently weighed in on SNA. Robert W. Baird set a $375.00 price target on shares of Snap-On in a research note on Friday, February 6th. Wall Street Zen cut Snap-On from a “buy” rating to a “hold” rating in a research note on Saturday, February 7th. Tigress Financial upped their price target on shares of Snap-On from $405.00 to $445.00 and gave the stock a “buy” rating in a report on Friday, February 27th. Weiss Ratings reissued a “buy (b)” rating on shares of Snap-On in a research report on Wednesday, January 21st. Finally, Roth Mkm reaffirmed a “buy” rating and issued a $409.00 price target (up from $385.00) on shares of Snap-On in a research report on Tuesday, February 10th. Five analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $377.33.

Snap-On Trading Down 1.6%

Shares of SNA stock opened at $364.01 on Friday. Snap-On Incorporated has a 1-year low of $289.81 and a 1-year high of $390.13. The company has a 50-day moving average of $372.52 and a two-hundred day moving average of $350.90. The company has a debt-to-equity ratio of 0.20, a current ratio of 4.79 and a quick ratio of 3.68. The firm has a market cap of $18.90 billion, a PE ratio of 18.97, a price-to-earnings-growth ratio of 2.55 and a beta of 0.78.

Snap-On (NYSE:SNA) last issued its earnings results on Thursday, February 5th. The company reported $4.94 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.86 by $0.08. Snap-On had a return on equity of 17.34% and a net margin of 21.44%.The business had revenue of $1.23 billion during the quarter, compared to analysts’ expectations of $1.24 billion. During the same quarter in the prior year, the firm earned $4.82 EPS. The business’s revenue for the quarter was up 2.8% compared to the same quarter last year. On average, analysts predict that Snap-On Incorporated will post 19.79 EPS for the current year.

Snap-On Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 10th. Shareholders of record on Tuesday, February 24th were issued a dividend of $2.44 per share. This represents a $9.76 annualized dividend and a yield of 2.7%. The ex-dividend date was Tuesday, February 24th. Snap-On’s dividend payout ratio is presently 50.86%.

Snap-On Profile

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.