Sumitomo Mitsui DS Asset Management Company Ltd Grows Stake in Snap-on Incorporated (NYSE:SNA)

Sumitomo Mitsui DS Asset Management Company Ltd grew its holdings in shares of Snap-on Incorporated (NYSE:SNA) by 26.3% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 6,413 shares of the company’s stock after acquiring an additional 1,337 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Snap-on were worth $2,177,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Benjamin Edwards Inc. lifted its position in shares of Snap-on by 2,691.2% in the 3rd quarter. Benjamin Edwards Inc. now owns 158,092 shares of the company’s stock worth $45,810,000 after purchasing an additional 152,428 shares during the period. International Assets Investment Management LLC raised its stake in Snap-on by 34,381.0% in the third quarter. International Assets Investment Management LLC now owns 130,338 shares of the company’s stock worth $37,760,000 after buying an additional 129,960 shares in the last quarter. Nordea Investment Management AB lifted its holdings in Snap-on by 12.8% in the fourth quarter. Nordea Investment Management AB now owns 1,128,317 shares of the company’s stock worth $384,813,000 after buying an additional 127,859 shares during the period. Caisse DE Depot ET Placement DU Quebec boosted its position in Snap-on by 45.4% during the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 257,450 shares of the company’s stock valued at $74,586,000 after acquiring an additional 80,421 shares in the last quarter. Finally, Pacer Advisors Inc. grew its holdings in shares of Snap-on by 9.4% during the 3rd quarter. Pacer Advisors Inc. now owns 907,655 shares of the company’s stock worth $262,957,000 after acquiring an additional 78,184 shares during the period. Institutional investors own 84.88% of the company’s stock.

Insider Activity at Snap-on

In other Snap-on news, CFO Aldo John Pagliari sold 6,909 shares of the stock in a transaction on Wednesday, December 18th. The stock was sold at an average price of $347.62, for a total transaction of $2,401,706.58. Following the sale, the chief financial officer now directly owns 100,668 shares in the company, valued at approximately $34,994,210.16. This trade represents a 6.42 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP June C. Lemerand sold 3,500 shares of the business’s stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $362.86, for a total value of $1,270,010.00. Following the completion of the transaction, the vice president now owns 2,289 shares of the company’s stock, valued at $830,586.54. This represents a 60.46 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 32,192 shares of company stock valued at $11,400,978 over the last 90 days. Corporate insiders own 4.10% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on SNA. Barrington Research restated an “outperform” rating and issued a $350.00 target price on shares of Snap-on in a research note on Monday. Tigress Financial boosted their target price on shares of Snap-on from $336.00 to $385.00 and gave the company a “buy” rating in a report on Friday, October 25th. Bank of America increased their price target on shares of Snap-on from $255.00 to $280.00 and gave the stock an “underperform” rating in a research note on Friday, October 18th. Roth Mkm boosted their price objective on shares of Snap-on from $324.00 to $365.00 and gave the stock a “buy” rating in a research note on Tuesday, October 22nd. Finally, Robert W. Baird upped their price objective on shares of Snap-on from $290.00 to $347.00 and gave the stock a “neutral” rating in a report on Friday, October 18th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $345.40.

Snap-on Price Performance

Shares of NYSE:SNA opened at $340.38 on Tuesday. The business has a fifty day moving average price of $347.29 and a 200-day moving average price of $320.10. The company has a debt-to-equity ratio of 0.22, a current ratio of 4.15 and a quick ratio of 3.14. The company has a market capitalization of $17.87 billion, a PE ratio of 17.46, a PEG ratio of 2.13 and a beta of 0.99. Snap-on Incorporated has a 1-year low of $252.98 and a 1-year high of $373.89.

Snap-on (NYSE:SNA) last released its quarterly earnings data on Thursday, February 6th. The company reported $4.82 earnings per share for the quarter, beating analysts’ consensus estimates of $4.78 by $0.04. Snap-on had a net margin of 21.71% and a return on equity of 19.20%. During the same quarter last year, the company posted $4.75 earnings per share. As a group, equities analysts expect that Snap-on Incorporated will post 20.07 EPS for the current fiscal year.

About Snap-on

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.