Assenagon Asset Management S.A. Acquires 320 Shares of Snap-on Incorporated (NYSE:SNA)

Assenagon Asset Management S.A. lifted its holdings in Snap-on Incorporated (NYSE:SNA) by 4.5% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 7,441 shares of the company’s stock after buying an additional 320 shares during the quarter. Assenagon Asset Management S.A.’s holdings in Snap-on were worth $2,508,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. SBI Securities Co. Ltd. acquired a new stake in Snap-on in the 4th quarter valued at about $26,000. CoreFirst Bank & Trust bought a new stake in shares of Snap-on during the fourth quarter valued at approximately $40,000. TCTC Holdings LLC increased its holdings in shares of Snap-on by 41.3% in the fourth quarter. TCTC Holdings LLC now owns 147 shares of the company’s stock valued at $50,000 after purchasing an additional 43 shares in the last quarter. Mizuho Bank Ltd. bought a new position in Snap-on in the 4th quarter worth approximately $61,000. Finally, Orion Capital Management LLC bought a new position in Snap-on in the 4th quarter worth approximately $65,000. Institutional investors and hedge funds own 84.88% of the company’s stock.

Insider Buying and Selling at Snap-on

In other Snap-on news, CEO Nicholas T. Pinchuk sold 22,700 shares of Snap-on stock in a transaction dated Thursday, March 27th. The stock was sold at an average price of $335.32, for a total transaction of $7,611,764.00. Following the transaction, the chief executive officer now directly owns 793,932 shares in the company, valued at approximately $266,221,278.24. The trade was a 2.78% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Karen L. Daniel sold 1,090 shares of the stock in a transaction dated Thursday, June 5th. The stock was sold at an average price of $319.92, for a total value of $348,712.80. Following the completion of the sale, the director now owns 8,030 shares of the company’s stock, valued at $2,568,957.60. This trade represents a 11.95% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 52,515 shares of company stock valued at $17,094,296. Corporate insiders own 3.90% of the company’s stock.

Snap-on Stock Up 0.7%

Shares of Snap-on stock opened at $312.11 on Tuesday. The business has a fifty day simple moving average of $319.21 and a 200 day simple moving average of $333.40. The stock has a market cap of $16.32 billion, a PE ratio of 16.01, a price-to-earnings-growth ratio of 2.21 and a beta of 0.78. The company has a quick ratio of 3.17, a current ratio of 4.15 and a debt-to-equity ratio of 0.22. Snap-on Incorporated has a 12 month low of $252.98 and a 12 month high of $373.90.

Snap-on (NYSE:SNA) last posted its earnings results on Thursday, April 17th. The company reported $4.51 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.81 by ($0.30). The company had revenue of $1.14 billion for the quarter, compared to analyst estimates of $1.20 billion. Snap-on had a return on equity of 19.20% and a net margin of 21.71%. During the same quarter in the previous year, the firm posted $4.91 earnings per share. Research analysts predict that Snap-on Incorporated will post 19.79 EPS for the current year.

Snap-on Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Tuesday, May 20th were issued a dividend of $2.14 per share. This represents a $8.56 dividend on an annualized basis and a yield of 2.74%. The ex-dividend date was Tuesday, May 20th. Snap-on’s dividend payout ratio is currently 44.82%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on SNA shares. Longbow Research raised Snap-on from a “neutral” rating to a “buy” rating and set a $400.00 target price for the company in a research note on Monday, March 31st. Robert W. Baird decreased their price target on Snap-on from $349.00 to $320.00 and set a “neutral” rating on the stock in a report on Monday, April 21st. Barrington Research reissued an “outperform” rating and set a $350.00 price objective on shares of Snap-on in a report on Monday, May 19th. Wall Street Zen upgraded shares of Snap-on from a “hold” rating to a “buy” rating in a research report on Friday, May 16th. Finally, Tigress Financial lifted their price target on shares of Snap-on from $385.00 to $390.00 and gave the stock a “buy” rating in a research report on Tuesday, March 4th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $350.83.

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.