Swiss National Bank Has $55.44 Million Stock Position in Snap-On Incorporated $SNA

Swiss National Bank increased its stake in shares of Snap-On Incorporated (NYSE:SNA) by 6.8% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 152,620 shares of the company’s stock after acquiring an additional 9,720 shares during the period. Swiss National Bank’s holdings in Snap-On were worth $55,435,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of the stock. Kennebec Savings Bank grew its stake in Snap-On by 3.6% in the fourth quarter. Kennebec Savings Bank now owns 783 shares of the company’s stock valued at $270,000 after purchasing an additional 27 shares in the last quarter. Annis Gardner Whiting Capital Advisors LLC boosted its holdings in shares of Snap-On by 36.4% in the 4th quarter. Annis Gardner Whiting Capital Advisors LLC now owns 105 shares of the company’s stock valued at $36,000 after buying an additional 28 shares during the last quarter. Verition Fund Management LLC boosted its holdings in shares of Snap-On by 1.5% in the 4th quarter. Verition Fund Management LLC now owns 1,844 shares of the company’s stock valued at $635,000 after buying an additional 28 shares during the last quarter. CWM LLC increased its holdings in Snap-On by 0.6% during the fourth quarter. CWM LLC now owns 5,517 shares of the company’s stock worth $1,901,000 after buying an additional 31 shares during the last quarter. Finally, Ritholtz Wealth Management increased its holdings in Snap-On by 2.5% during the fourth quarter. Ritholtz Wealth Management now owns 1,401 shares of the company’s stock worth $483,000 after buying an additional 34 shares during the last quarter. 84.88% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

SNA has been the subject of a number of recent analyst reports. Robert W. Baird increased their price target on shares of Snap-On from $380.00 to $395.00 and gave the company a “neutral” rating in a research note on Friday, April 24th. Barclays initiated coverage on shares of Snap-On in a research note on Thursday, May 28th. They set an “overweight” rating and a $420.00 price objective on the stock. Roth Capital reaffirmed a “buy” rating and issued a $431.00 target price on shares of Snap-On in a report on Friday, April 24th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Snap-On in a report on Friday. Five investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $408.20.

Insider Buying and Selling at Snap-On

In other Snap-On news, VP Richard Thomas Miller sold 2,000 shares of the business’s stock in a transaction dated Wednesday, July 1st. The shares were sold at an average price of $405.92, for a total value of $811,840.00. Following the completion of the sale, the vice president owned 4,529 shares of the company’s stock, valued at $1,838,411.68. The trade was a 30.63% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Aldo John Pagliari sold 5,713 shares of the stock in a transaction that occurred on Thursday, May 14th. The stock was sold at an average price of $367.19, for a total transaction of $2,097,756.47. Following the transaction, the chief financial officer owned 119,488 shares in the company, valued at approximately $43,874,798.72. The trade was a 4.56% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders have sold 37,117 shares of company stock valued at $14,003,922. 3.80% of the stock is currently owned by insiders.

Snap-On Price Performance

Snap-On stock opened at $404.37 on Wednesday. The company has a market capitalization of $20.95 billion, a price-to-earnings ratio of 20.88, a PEG ratio of 2.86 and a beta of 0.73. The company has a current ratio of 3.53, a quick ratio of 2.74 and a debt-to-equity ratio of 0.15. Snap-On Incorporated has a 12 month low of $312.78 and a 12 month high of $419.68. The stock’s 50 day moving average is $387.27 and its 200-day moving average is $377.45.

Snap-On (NYSE:SNA) last released its quarterly earnings results on Thursday, April 23rd. The company reported $4.69 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.75 by ($0.06). Snap-On had a net margin of 21.28% and a return on equity of 17.13%. The firm had revenue of $1.21 billion during the quarter, compared to the consensus estimate of $1.19 billion. During the same quarter last year, the firm earned $4.51 earnings per share. The business’s revenue for the quarter was up 5.8% compared to the same quarter last year. Equities research analysts expect that Snap-On Incorporated will post 19.7 EPS for the current year.

Snap-On Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 10th. Stockholders of record on Wednesday, May 20th were given a $2.44 dividend. This represents a $9.76 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date of this dividend was Wednesday, May 20th. Snap-On’s payout ratio is presently 50.39%.

Snap-On announced that its Board of Directors has initiated a stock repurchase plan on Thursday, April 30th that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the company to purchase up to 2.5% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s management believes its stock is undervalued.

Snap-On Company 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.