Snap-on Incorporated (NYSE:SNA) Shares Acquired by CIBC Private Wealth Group LLC

CIBC Private Wealth Group LLC grew its holdings in Snap-on Incorporated (NYSE:SNAFree Report) by 5.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 13,404 shares of the company’s stock after acquiring an additional 670 shares during the period. CIBC Private Wealth Group LLC’s holdings in Snap-on were worth $3,872,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also modified their holdings of the business. NEOS Investment Management LLC acquired a new position in shares of Snap-on in the fourth quarter worth $216,000. Jones Financial Companies Lllp grew its stake in shares of Snap-on by 76.0% during the fourth quarter. Jones Financial Companies Lllp now owns 1,570 shares of the company’s stock worth $453,000 after purchasing an additional 678 shares in the last quarter. KBC Group NV grew its stake in shares of Snap-on by 38.9% during the fourth quarter. KBC Group NV now owns 7,358 shares of the company’s stock worth $2,126,000 after purchasing an additional 2,062 shares in the last quarter. Alley Investment Management Company LLC grew its stake in shares of Snap-on by 4.8% during the fourth quarter. Alley Investment Management Company LLC now owns 45,438 shares of the company’s stock worth $13,124,000 after purchasing an additional 2,086 shares in the last quarter. Finally, Isthmus Partners LLC acquired a new position in shares of Snap-on during the fourth quarter worth $268,000. Institutional investors and hedge funds own 84.88% of the company’s stock.

Analyst Ratings Changes

SNA has been the subject of a number of analyst reports. Robert W. Baird lowered 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 note on Friday, April 19th. Barrington Research reiterated an “outperform” rating and set a $325.00 target price on shares of Snap-on in a research note on Wednesday, May 22nd. Tigress Financial reiterated a “buy” rating and set a $336.00 target price on shares of Snap-on in a research note on Friday, February 16th. Finally, Roth Mkm restated a “buy” rating and issued a $324.00 price objective on shares of Snap-on in a research note on Thursday, April 18th. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $316.75.

Check Out Our Latest Analysis on Snap-on

Insider Activity

In other news, CEO Nicholas T. Pinchuk sold 23,514 shares of the company’s stock in a transaction dated Tuesday, March 19th. The shares were 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 directly owns 742,383 shares of the company’s stock, valued at $213,420,264.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, CEO Nicholas T. Pinchuk sold 23,514 shares of the company’s stock in a transaction dated Tuesday, March 19th. The shares were 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 directly owns 742,383 shares of the company’s stock, valued at $213,420,264.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Nicholas T. Pinchuk sold 24,220 shares of the company’s stock in a transaction dated Tuesday, June 4th. The shares were sold at an average price of $266.80, for a total transaction of $6,461,896.00. Following the completion of the sale, the chief executive officer now directly owns 750,663 shares of the company’s stock, valued at $200,276,888.40. The disclosure for this sale can be found here. Over the last three months, insiders sold 62,850 shares of company stock valued at $17,323,118. Insiders own 4.10% of the company’s stock.

Snap-on Stock Performance

NYSE SNA opened at $268.19 on Friday. The company has a debt-to-equity ratio of 0.23, a current ratio of 3.82 and a quick ratio of 2.83. Snap-on Incorporated has a 1 year low of $249.84 and a 1 year high of $298.49. The company has a market capitalization of $14.14 billion, a PE ratio of 14.07, a P/E/G ratio of 1.85 and a beta of 0.99. The company has a fifty day moving average of $277.59 and a two-hundred day moving average of $281.12.

Snap-on (NYSE:SNAGet Free Report) last released its quarterly earnings data on Thursday, April 18th. The company reported $4.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.66 by $0.09. Snap-on had a net margin of 21.69% and a return on equity of 20.46%. The company had revenue of $1.18 billion during the quarter, compared to the consensus estimate of $1.20 billion. During the same quarter in the prior year, the firm posted $4.60 earnings per share. Snap-on’s revenue for the quarter was down .1% on a year-over-year basis. As a group, analysts expect that Snap-on Incorporated will post 19.01 earnings per share for the current 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 issued a $1.86 dividend. The ex-dividend date is Friday, May 17th. This represents a $7.44 dividend on an annualized basis and a dividend yield of 2.77%. Snap-on’s payout ratio is 39.03%.

Snap-on Company Profile

(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.

See Also

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

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