Van ECK Associates Corp Has $2.25 Million Holdings in Snap-on Incorporated (NYSE:SNA)

Van ECK Associates Corp raised its holdings in shares of Snap-on Incorporated (NYSE:SNA) by 6.1% in the 4th quarter, HoldingsChannel reports. The firm owned 7,772 shares of the company’s stock after buying an additional 447 shares during the period. Van ECK Associates Corp’s holdings in Snap-on were worth $2,245,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in SNA. Brown Advisory Inc. boosted its position in Snap-on by 0.5% during the third quarter. Brown Advisory Inc. now owns 21,885 shares of the company’s stock worth $5,582,000 after purchasing an additional 114 shares during the period. Verdence Capital Advisors LLC boosted its position in Snap-on by 5.2% during the third quarter. Verdence Capital Advisors LLC now owns 1,626 shares of the company’s stock worth $415,000 after purchasing an additional 80 shares during the period. Mackenzie Financial Corp boosted its position in Snap-on by 2.2% during the third quarter. Mackenzie Financial Corp now owns 4,271 shares of the company’s stock worth $1,085,000 after purchasing an additional 90 shares during the period. Strs Ohio boosted its position in Snap-on by 6.5% during the third quarter. Strs Ohio now owns 9,831 shares of the company’s stock worth $2,507,000 after purchasing an additional 604 shares during the period. Finally, IFM Investors Pty Ltd boosted its position in Snap-on by 13.2% during the third quarter. IFM Investors Pty Ltd now owns 10,537 shares of the company’s stock worth $2,688,000 after purchasing an additional 1,232 shares during the period. 84.88% of the stock is owned by institutional investors.

Snap-on Stock Up 0.8 %

SNA stock opened at $276.86 on Wednesday. The company has a market cap of $14.60 billion, a PE ratio of 14.53, a price-to-earnings-growth ratio of 1.87 and a beta of 1.00. The business has a 50-day simple moving average of $284.38 and a 200 day simple moving average of $279.81. Snap-on Incorporated has a 52 week low of $247.68 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:SNA) last posted 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. The business had revenue of $1.18 billion during the quarter, compared to the consensus estimate of $1.20 billion. Snap-on had a return on equity of 20.46% and a net margin of 21.69%. Snap-on’s revenue for the quarter was down .1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $4.60 earnings per share. Sell-side analysts anticipate that Snap-on Incorporated will post 19.02 EPS for the current fiscal year.

Snap-on Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 10th. Investors of record on Monday, May 20th will be paid a $1.86 dividend. This represents a $7.44 dividend on an annualized basis and a yield of 2.69%. The ex-dividend date is Friday, May 17th. Snap-on’s dividend payout ratio (DPR) is presently 39.03%.

Analyst Upgrades and Downgrades

SNA has been the subject of a number of research analyst reports. Barrington Research reaffirmed an “outperform” rating and set a $325.00 price objective on shares of Snap-on in a research report on Monday, April 15th. Roth Mkm reissued a “buy” rating and issued a $324.00 target price on shares of Snap-on in a research report on Thursday, April 18th. Tigress Financial reissued a “buy” rating and issued a $336.00 target price on shares of Snap-on in a research report on Friday, February 16th. Finally, Robert W. Baird reduced their target price on shares of Snap-on from $295.00 to $282.00 and set a “neutral” rating for the company in a research report on Friday, April 19th. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $316.75.

Insider Activity at Snap-on

In related news, VP Richard Thomas Miller sold 704 shares of the business’s stock in a transaction dated Thursday, March 28th. The stock was sold at an average price of $298.16, for a total value of $209,904.64. Following the completion of the transaction, the vice president now owns 3,213 shares of the company’s stock, valued at $957,988.08. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Snap-on news, CEO Nicholas T. Pinchuk sold 23,514 shares of the business’s stock in a transaction dated 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 transaction, the chief executive officer now owns 742,383 shares of the company’s stock, valued at $213,420,264.84. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, VP Richard Thomas Miller sold 704 shares of the business’s stock in a transaction dated Thursday, March 28th. The stock was sold at an average price of $298.16, for a total value of $209,904.64. Following the transaction, the vice president now directly owns 3,213 shares of the company’s stock, valued at approximately $957,988.08. The disclosure for this sale can be found here. Insiders sold a total of 49,930 shares of company stock valued at $14,089,523 over the last quarter. 4.10% of the stock is owned by corporate insiders.

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.