Morningstar Investment Management LLC Buys New Position in Snap-on Incorporated (NYSE:SNA)

Morningstar Investment Management LLC bought a new stake in Snap-on Incorporated (NYSE:SNAFree Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 712 shares of the company’s stock, valued at approximately $206,000.

Other institutional investors have also added to or reduced their stakes in the company. Royal London Asset Management Ltd. boosted its holdings in shares of Snap-on by 12.7% during the 3rd quarter. Royal London Asset Management Ltd. now owns 22,537 shares of the company’s stock worth $5,751,000 after buying an additional 2,542 shares in the last quarter. Caprock Group LLC bought a new position in shares of Snap-on during the 4th quarter worth approximately $1,203,000. Kingsview Wealth Management LLC boosted its holdings in shares of Snap-on by 42.0% during the 4th quarter. Kingsview Wealth Management LLC now owns 26,456 shares of the company’s stock worth $7,641,000 after buying an additional 7,830 shares in the last quarter. Teacher Retirement System of Texas boosted its holdings in shares of Snap-on by 36.9% during the 4th quarter. Teacher Retirement System of Texas now owns 70,740 shares of the company’s stock worth $20,433,000 after buying an additional 19,061 shares in the last quarter. Finally, UBS Group AG boosted its holdings in shares of Snap-on by 37.2% during the 4th quarter. UBS Group AG now owns 138,803 shares of the company’s stock worth $40,092,000 after buying an additional 37,667 shares in the last quarter. 84.88% of the stock is currently owned by institutional investors.

Insider Activity

In other news, CEO Nicholas T. Pinchuk sold 23,514 shares of the firm’s stock in a transaction on Tuesday, March 19th. The stock was sold at an average price of $287.48, for a total transaction of $6,759,804.72. Following the completion of the sale, the chief executive officer now directly owns 742,383 shares of the company’s stock, valued at approximately $213,420,264.84. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, CEO Nicholas T. Pinchuk sold 23,514 shares of Snap-on stock in a transaction dated Tuesday, March 19th. The stock was sold at an average price of $287.48, for a total value of $6,759,804.72. Following the completion of the sale, the chief executive officer now owns 742,383 shares of the company’s stock, valued at approximately $213,420,264.84. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Aldo John Pagliari sold 5,978 shares of Snap-on stock in a transaction dated Tuesday, May 21st. The stock was sold at an average price of $276.86, for a total value of $1,655,069.08. Following the completion of the sale, the chief financial officer now directly owns 97,699 shares of the company’s stock, valued at approximately $27,048,945.14. The disclosure for this sale can be found here. Insiders sold a total of 62,850 shares of company stock valued at $17,323,118 in the last ninety days. 4.10% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on SNA shares. Tigress Financial reiterated a “buy” rating and issued a $336.00 target price on shares of Snap-on in a report on Friday, February 16th. Barrington Research reiterated an “outperform” rating and issued a $325.00 target price on shares of Snap-on in a report on Wednesday, May 22nd. Robert W. Baird cut their target price on Snap-on from $295.00 to $282.00 and set a “neutral” rating on the stock in a report on Friday, April 19th. Finally, Roth Mkm reiterated a “buy” rating and issued a $324.00 target price on shares of Snap-on in a report on Thursday, April 18th. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, Snap-on presently has an average rating of “Moderate Buy” and an average target price of $316.75.

View Our Latest Report on Snap-on

Snap-on Stock Up 0.8 %

NYSE SNA traded up $2.20 on Wednesday, reaching $269.22. The company had a trading volume of 160,377 shares, compared to its average volume of 295,305. The stock has a market capitalization of $14.19 billion, a P/E ratio of 14.05, a P/E/G ratio of 1.86 and a beta of 0.99. The company’s fifty day moving average is $278.73 and its 200 day moving average is $281.30. Snap-on Incorporated has a 52-week low of $249.84 and a 52-week high of $298.49. The company has a quick ratio of 2.83, a current ratio of 3.82 and a debt-to-equity ratio of 0.23.

Snap-on (NYSE:SNAGet Free Report) last released its quarterly earnings results on Thursday, April 18th. The company reported $4.75 EPS for the quarter, beating analysts’ consensus estimates of $4.66 by $0.09. Snap-on had a return on equity of 20.46% and a net margin of 21.69%. The business had revenue of $1.18 billion during the quarter, compared to analyst estimates of $1.20 billion. During the same period in the prior year, the firm posted $4.60 EPS. Snap-on’s quarterly revenue was down .1% compared to the same quarter last year. Sell-side analysts anticipate that Snap-on Incorporated will post 19.01 earnings per share for the current fiscal year.

Snap-on Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 10th. Stockholders of record on Monday, May 20th will be given a dividend of $1.86 per share. This represents a $7.44 annualized dividend and a dividend yield of 2.76%. The ex-dividend date is Friday, May 17th. Snap-on’s dividend payout ratio is presently 39.03%.

About Snap-on

(Free Report)

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.

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

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