US Bancorp DE Buys 336 Shares of Snap-on Incorporated (NYSE:SNA)

US Bancorp DE grew its stake in Snap-on Incorporated (NYSE:SNA) by 1.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 33,828 shares of the company’s stock after purchasing an additional 336 shares during the quarter. US Bancorp DE owned approximately 0.06% of Snap-on worth $11,485,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of SNA. First Trust Direct Indexing L.P. raised its position in shares of Snap-on by 11.6% in the third quarter. First Trust Direct Indexing L.P. now owns 1,348 shares of the company’s stock valued at $391,000 after purchasing an additional 140 shares during the period. Pinnacle Associates Ltd. bought a new position in shares of Snap-on in the third quarter valued at about $214,000. Janney Montgomery Scott LLC raised its position in shares of Snap-on by 2.0% in the third quarter. Janney Montgomery Scott LLC now owns 23,102 shares of the company’s stock valued at $6,693,000 after purchasing an additional 455 shares during the period. Van ECK Associates Corp raised its position in shares of Snap-on by 11.0% in the third quarter. Van ECK Associates Corp now owns 9,617 shares of the company’s stock valued at $2,786,000 after purchasing an additional 953 shares during the period. Finally, National Pension Service increased its position in Snap-on by 4.3% during the third quarter. National Pension Service now owns 113,516 shares of the company’s stock worth $32,887,000 after acquiring an additional 4,710 shares during the period. 84.88% of the stock is owned by institutional investors.

Insider Buying and Selling at Snap-on

In other Snap-on news, VP June C. Lemerand sold 3,500 shares of the firm’s stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $362.86, for a total value of $1,270,010.00. Following the transaction, the vice president now directly owns 2,289 shares of the company’s stock, valued at $830,586.54. This trade represents a 60.46 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Jesus Arregui sold 6,451 shares of the firm’s stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $337.81, for a total transaction of $2,179,212.31. Following the completion of the transaction, the senior vice president now directly owns 257 shares in the company, valued at approximately $86,817.17. This represents a 96.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 45,503 shares of company stock valued at $15,906,074 in the last ninety days. 4.10% of the stock is currently owned by company insiders.

Snap-on Price Performance

NYSE:SNA opened at $333.45 on Tuesday. Snap-on Incorporated has a 52 week low of $252.98 and a 52 week high of $373.89. The firm has a market cap of $17.47 billion, a price-to-earnings ratio of 17.10, a P/E/G ratio of 2.21 and a beta of 0.99. The firm’s 50-day simple moving average is $343.25 and its 200 day simple moving average is $326.29. The company has a debt-to-equity ratio of 0.22, a quick ratio of 3.17 and a current ratio of 4.15.

Snap-on (NYSE:SNA) last released its earnings results on Thursday, February 6th. The company reported $4.82 EPS for the quarter, beating the consensus estimate 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 period last year, the company posted $4.75 EPS. As a group, sell-side analysts predict that Snap-on Incorporated will post 19.79 earnings per share for the current year.

Snap-on Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Monday, February 24th will be issued a $2.14 dividend. This represents a $8.56 annualized dividend and a yield of 2.57%. The ex-dividend date is Monday, February 24th. Snap-on’s dividend payout ratio is currently 43.90%.

Wall Street Analysts Forecast Growth

Separately, Barrington Research reaffirmed an “outperform” rating and set a $350.00 price target on shares of Snap-on in a research report on Monday, February 10th. One analyst has rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $345.40.

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.