CX Institutional Purchases Shares of 336 Snap-on Incorporated (NYSE:SNA)

CX Institutional purchased a new stake in Snap-on Incorporated (NYSE:SNA) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 336 shares of the company’s stock, valued at approximately $113,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Ethic Inc. grew its holdings in shares of Snap-on by 18.6% in the 4th quarter. Ethic Inc. now owns 9,212 shares of the company’s stock valued at $3,127,000 after acquiring an additional 1,445 shares in the last quarter. Advyzon Investment Management LLC bought a new position in shares of Snap-on in the 4th quarter valued at about $272,000. Assetmark Inc. grew its holdings in shares of Snap-on by 4.0% in the 4th quarter. Assetmark Inc. now owns 136,472 shares of the company’s stock valued at $46,330,000 after acquiring an additional 5,187 shares in the last quarter. Amundi grew its holdings in shares of Snap-on by 137.0% in the 4th quarter. Amundi now owns 201,207 shares of the company’s stock valued at $68,039,000 after acquiring an additional 116,319 shares in the last quarter. Finally, Asset Management One Co. Ltd. grew its holdings in shares of Snap-on by 7.0% in the 4th quarter. Asset Management One Co. Ltd. now owns 21,296 shares of the company’s stock valued at $7,316,000 after acquiring an additional 1,400 shares in the last quarter. Institutional investors and hedge funds own 84.88% of the company’s stock.

Wall Street Analyst Weigh In

SNA has been the subject of several research reports. Tigress Financial raised their price objective 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. Robert W. Baird reduced their target price on Snap-on from $349.00 to $320.00 and set a “neutral” rating on the stock in a report on Monday, April 21st. Longbow Research upgraded shares of Snap-on from a “neutral” rating to a “buy” rating and set a $400.00 price objective for the company in a research note on Monday, March 31st. Wall Street Zen raised Snap-on from a “hold” rating to a “buy” rating in a research report on Friday, May 16th. Finally, Barrington Research reissued an “outperform” rating and issued a $350.00 price target on shares of Snap-on in a research report on Monday, May 19th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $350.83.

Snap-on Stock Up 0.7%

Shares of NYSE SNA opened at $312.11 on Tuesday. The company has a debt-to-equity ratio of 0.22, a current ratio of 4.15 and a quick ratio of 3.17. The stock has a market capitalization of $16.32 billion, a PE ratio of 16.01, a P/E/G ratio of 2.21 and a beta of 0.78. Snap-on Incorporated has a one year low of $252.98 and a one year high of $373.90. The business’s fifty day moving average price is $319.21 and its 200-day moving average price is $333.40.

Snap-on (NYSE:SNA) last released its quarterly earnings data on Thursday, April 17th. The company reported $4.51 EPS for the quarter, missing the consensus estimate of $4.81 by ($0.30). The business had revenue of $1.14 billion for the quarter, compared to analysts’ expectations of $1.20 billion. 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 earned $4.91 earnings per share. On average, equities research analysts anticipate that Snap-on Incorporated will post 19.79 EPS for the current year.

Snap-on Announces Dividend

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

Insider Buying and Selling

In other Snap-on news, CEO Nicholas T. Pinchuk sold 23,172 shares of the company’s stock in a transaction dated Monday, June 2nd. The stock was sold at an average price of $315.85, for a total value of $7,318,876.20. Following the transaction, the chief executive officer now directly owns 804,510 shares in the company, valued at $254,104,483.50. This represents a 2.80% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Karen L. Daniel sold 1,090 shares of the firm’s stock in a transaction that occurred on Thursday, June 5th. The shares were sold at an average price of $319.92, for a total transaction of $348,712.80. Following the completion of the sale, the director now directly owns 8,030 shares in the company, valued at $2,568,957.60. This represents a 11.95% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 52,515 shares of company stock valued at $17,094,296. Company insiders own 3.90% of the company’s stock.

Snap-on Profile

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.