ABN Amro Investment Solutions Decreases Stock Holdings in Snap-On Incorporated $SNA

ABN Amro Investment Solutions cut its stake in Snap-On Incorporated (NYSE:SNA) by 30.5% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 17,326 shares of the company’s stock after selling 7,600 shares during the period. ABN Amro Investment Solutions’ holdings in Snap-On were worth $6,004,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Tobam purchased a new stake in Snap-On in the 2nd quarter valued at $29,000. Vermillion & White Wealth Management Group LLC boosted its position in shares of Snap-On by 97.9% during the 2nd quarter. Vermillion & White Wealth Management Group LLC now owns 95 shares of the company’s stock valued at $30,000 after acquiring an additional 47 shares during the last quarter. SJS Investment Consulting Inc. boosted its position in shares of Snap-On by 1,880.0% during the 3rd quarter. SJS Investment Consulting Inc. now owns 99 shares of the company’s stock valued at $34,000 after acquiring an additional 94 shares during the last quarter. Quent Capital LLC purchased a new stake in shares of Snap-On in the third quarter valued at about $36,000. Finally, CoreFirst Bank & Trust acquired a new stake in Snap-On during the second quarter worth about $37,000. Hedge funds and other institutional investors own 84.88% of the company’s stock.

Insider Buying and Selling

In related news, VP Richard Thomas Miller sold 2,000 shares of Snap-On stock in a transaction on Thursday, December 4th. The stock was sold at an average price of $348.27, for a total value of $696,540.00. Following the completion of the transaction, the vice president directly owned 4,158 shares in the company, valued at approximately $1,448,106.66. This trade represents a 32.48% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Timothy L. Chambers sold 8,000 shares of the business’s stock in a transaction on Wednesday, February 4th. The stock was sold at an average price of $385.13, for a total value of $3,081,040.00. Following the transaction, the senior vice president directly owned 19,480 shares of the company’s stock, valued at $7,502,332.40. The trade was a 29.11% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 48,036 shares of company stock worth $16,792,028 over the last three months. 3.90% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

SNA has been the topic of several recent analyst reports. Weiss Ratings reiterated a “buy (b)” rating on shares of Snap-On in a report on Wednesday, January 21st. Robert W. Baird set a $375.00 price objective on Snap-On in a report on Friday, February 6th. Wall Street Zen lowered Snap-On from a “buy” rating to a “hold” rating in a research report on Saturday, February 7th. Tigress Financial lifted their target price on Snap-On from $395.00 to $405.00 and gave the company a “buy” rating in a research report on Tuesday, October 21st. Finally, Roth Mkm reaffirmed a “buy” rating and issued a $409.00 price target (up previously from $385.00) on shares of Snap-On in a research note on Tuesday, February 10th. Five investment 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 data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $370.67.

Snap-On Price Performance

SNA stock opened at $384.23 on Monday. The business’s fifty day moving average price is $360.42 and its 200 day moving average price is $343.61. Snap-On Incorporated has a 12-month low of $289.81 and a 12-month high of $390.13. The company has a current ratio of 4.79, a quick ratio of 3.68 and a debt-to-equity ratio of 0.20. The company has a market capitalization of $19.95 billion, a PE ratio of 20.02, a P/E/G ratio of 2.65 and a beta of 0.81.

Snap-On (NYSE:SNA) last released its earnings results on Thursday, February 5th. The company reported $4.94 earnings per share for the quarter, beating the consensus estimate of $4.86 by $0.08. The company had revenue of $1.23 billion during the quarter, compared to the consensus estimate of $1.24 billion. Snap-On had a return on equity of 17.34% and a net margin of 21.44%.Snap-On’s revenue was up 2.8% compared to the same quarter last year. During the same period in the previous year, the company posted $4.82 EPS. On average, sell-side analysts anticipate that Snap-On Incorporated will post 19.79 EPS for the current year.

Snap-On Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 10th. Shareholders of record on Tuesday, February 24th will be issued a dividend of $2.44 per share. The ex-dividend date is Tuesday, February 24th. This represents a $9.76 dividend on an annualized basis and a yield of 2.5%. Snap-On’s dividend payout ratio is 50.86%.

Snap-On Company Profile

Snap‑On Incorporated (NYSE: SNA) is a designer, manufacturer and marketer of tools, diagnostic equipment, repair information and shop equipment for professional users. The company’s product range includes hand and power tools, tool storage and cabinets, diagnostic scan tools and software, shop equipment such as lifts and tire changers, and specialized specialty tools for automotive, aviation, marine and industrial applications. Snap‑On also offers information and workflow solutions that combine diagnostic data, repair procedures and parts information to support professional technicians.

Founded in 1920 and headquartered in Kenosha, Wisconsin, Snap‑On has established a long history in the professional tools market.