Snap-on Incorporated (NYSE:SNA) Stock Holdings Lifted by AIA Group Ltd

AIA Group Ltd lifted its holdings in shares of Snap-on Incorporated (NYSE:SNAGet Rating) by 59.3% in the first quarter, Holdings Channel.com reports. The institutional investor owned 962 shares of the company’s stock after purchasing an additional 358 shares during the quarter. AIA Group Ltd’s holdings in Snap-on were worth $198,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Independent Advisor Alliance boosted its stake in Snap-on by 48.1% in the first quarter. Independent Advisor Alliance now owns 1,509 shares of the company’s stock valued at $310,000 after acquiring an additional 490 shares during the period. BTC Capital Management Inc. boosted its position in Snap-on by 92.6% during the 1st quarter. BTC Capital Management Inc. now owns 40,258 shares of the company’s stock valued at $8,268,000 after purchasing an additional 19,360 shares during the period. Empirical Asset Management LLC grew its stake in Snap-on by 119.2% during the 1st quarter. Empirical Asset Management LLC now owns 5,009 shares of the company’s stock worth $1,029,000 after buying an additional 2,724 shares during the last quarter. KBC Group NV increased its position in Snap-on by 125.8% in the first quarter. KBC Group NV now owns 10,717 shares of the company’s stock worth $2,202,000 after buying an additional 5,971 shares during the period. Finally, IFM Investors Pty Ltd lifted its stake in Snap-on by 26.3% in the first quarter. IFM Investors Pty Ltd now owns 9,369 shares of the company’s stock valued at $1,925,000 after buying an additional 1,951 shares during the last quarter. Institutional investors and hedge funds own 87.92% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on SNA. UBS Group dropped their price objective on shares of Snap-on to $175.00 in a report on Friday, July 22nd. Tigress Financial lifted their price target on Snap-on from $295.00 to $298.00 and gave the company a “buy” rating in a report on Monday, April 25th. Finally, MKM Partners initiated coverage on Snap-on in a report on Thursday, June 9th. They issued a “neutral” rating and a $238.00 price objective for the company.

Snap-on Stock Performance

Shares of SNA opened at $223.00 on Friday. Snap-on Incorporated has a 52-week low of $190.08 and a 52-week high of $235.36. The firm has a market capitalization of $11.88 billion, a PE ratio of 13.99, a P/E/G ratio of 1.78 and a beta of 1.12. The firm has a 50-day moving average price of $208.44 and a 200 day moving average price of $210.96. The company has a quick ratio of 2.37, a current ratio of 3.28 and a debt-to-equity ratio of 0.27.

Snap-on (NYSE:SNAGet Rating) last posted its quarterly earnings data on Thursday, July 21st. The company reported $4.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.91 by $0.36. Snap-on had a net margin of 19.83% and a return on equity of 20.51%. The business had revenue of $1.14 billion during the quarter, compared to analysts’ expectations of $1.10 billion. During the same period last year, the firm posted $3.76 earnings per share. The business’s revenue was up 5.1% on a year-over-year basis. On average, sell-side analysts anticipate that Snap-on Incorporated will post 15.93 earnings per share for the current fiscal year.

Snap-on Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 9th. Stockholders of record on Friday, August 19th will be paid a $1.42 dividend. This represents a $5.68 dividend on an annualized basis and a dividend yield of 2.55%. Snap-on’s dividend payout ratio is presently 35.63%.

Insider Activity

In related news, SVP Jesus Arregui sold 488 shares of Snap-on stock in a transaction dated Friday, August 5th. The stock was sold at an average price of $223.31, for a total transaction of $108,975.28. Following the transaction, the senior vice president now directly owns 2,409 shares of the company’s stock, valued at $537,953.79. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In other Snap-on news, CEO Nicholas T. Pinchuk sold 19,394 shares of the company’s stock in a transaction on Wednesday, June 1st. The stock was sold at an average price of $216.58, for a total value of $4,200,352.52. Following the transaction, the chief executive officer now owns 622,123 shares of the company’s stock, valued at $134,739,399.34. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Jesus Arregui sold 488 shares of the firm’s stock in a transaction on Friday, August 5th. The stock was sold at an average price of $223.31, for a total value of $108,975.28. Following the sale, the senior vice president now directly owns 2,409 shares of the company’s stock, valued at $537,953.79. The disclosure for this sale can be found here. Insiders own 4.30% of the company’s stock.

Snap-on Company Profile

(Get Rating)

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.

Further Reading

Want to see what other hedge funds are holding SNA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Snap-on Incorporated (NYSE:SNAGet Rating).

Institutional Ownership by Quarter for Snap-on (NYSE:SNA)

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