Sumitomo Mitsui DS Asset Management Company Ltd Grows Holdings in Snap-On Incorporated $SNA

Sumitomo Mitsui DS Asset Management Company Ltd increased its position in shares of Snap-On Incorporated (NYSE:SNA) by 1.6% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 6,654 shares of the company’s stock after purchasing an additional 105 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Snap-On were worth $2,071,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Choreo LLC lifted its stake in Snap-On by 78.3% during the first quarter. Choreo LLC now owns 7,218 shares of the company’s stock worth $2,432,000 after purchasing an additional 3,170 shares during the last quarter. Advisors Capital Management LLC lifted its stake in Snap-On by 5.3% during the first quarter. Advisors Capital Management LLC now owns 1,241 shares of the company’s stock worth $418,000 after purchasing an additional 63 shares during the last quarter. Jump Financial LLC lifted its stake in Snap-On by 367.7% during the first quarter. Jump Financial LLC now owns 5,523 shares of the company’s stock worth $1,861,000 after purchasing an additional 4,342 shares during the last quarter. Jacobs Levy Equity Management Inc. bought a new position in Snap-On during the first quarter worth $1,986,000. Finally, Ascent Group LLC bought a new position in Snap-On during the first quarter worth $421,000. 84.88% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. Barrington Research restated an “outperform” rating and set a $350.00 price objective on shares of Snap-On in a research note on Tuesday, July 15th. Robert W. Baird raised their target price on Snap-On from $329.00 to $347.00 and gave the company a “neutral” rating in a research note on Friday, July 18th. Tigress Financial raised their target price on Snap-On from $390.00 to $395.00 and gave the company a “buy” rating in a research note on Friday, August 29th. Finally, Bank of America raised their target price on Snap-On from $265.00 to $285.00 and gave the company an “underperform” rating in a research note on Friday, July 18th. Four analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $357.00.

Insiders Place Their Bets

In other news, CFO Aldo John Pagliari sold 4,731 shares of the firm’s stock in a transaction on Thursday, August 14th. The stock was sold at an average price of $327.38, for a total transaction of $1,548,834.78. Following the transaction, the chief financial officer directly owned 111,667 shares of the company’s stock, valued at approximately $36,557,542.46. This trade represents a 4.06% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Nicholas T. Pinchuk sold 23,042 shares of the firm’s stock in a transaction on Monday, August 11th. The shares were sold at an average price of $320.88, for a total value of $7,393,716.96. Following the transaction, the chief executive officer directly owned 815,219 shares in the company, valued at $261,587,472.72. This trade represents a 2.75% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 27,898 shares of company stock worth $8,983,203 over the last three months. Corporate insiders own 3.90% of the company’s stock.

Snap-On Price Performance

Shares of SNA opened at $337.72 on Monday. The firm has a market capitalization of $17.62 billion, a price-to-earnings ratio of 18.01, a price-to-earnings-growth ratio of 2.35 and a beta of 0.77. The company has a debt-to-equity ratio of 0.21, a quick ratio of 3.42 and a current ratio of 4.48. Snap-On Incorporated has a one year low of $281.64 and a one year high of $373.89. The stock’s fifty day moving average is $326.79 and its 200-day moving average is $322.83.

Snap-On (NYSE:SNA) last issued its quarterly earnings results on Thursday, July 17th. The company reported $4.72 EPS for the quarter, beating analysts’ consensus estimates of $4.61 by $0.11. The company had revenue of $1.18 billion for the quarter, compared to analyst estimates of $1.16 billion. Snap-On had a return on equity of 18.02% and a net margin of 20.98%.The company’s quarterly revenue was up .0% compared to the same quarter last year. During the same period last year, the company earned $5.07 earnings per share. Equities analysts anticipate that Snap-On Incorporated will post 19.79 EPS for the current year.

Snap-On Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 10th. Stockholders of record on Tuesday, August 19th were issued a dividend of $2.14 per share. This represents a $8.56 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date of this dividend was Tuesday, August 19th. Snap-On’s dividend payout ratio (DPR) is 45.65%.

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.