Bank of Montreal Can Has $121 Million Holdings in Snap-On Incorporated $SNA

Bank of Montreal Can lifted its stake in shares of Snap-On Incorporated (NYSE:SNA) by 1.1% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 349,183 shares of the company’s stock after acquiring an additional 3,665 shares during the quarter. Bank of Montreal Can owned about 0.67% of Snap-On worth $121,002,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in SNA. Tobam bought a new position in shares of Snap-On in the 2nd quarter valued at approximately $29,000. Vermillion & White Wealth Management Group LLC boosted its position in Snap-On by 97.9% during the second quarter. Vermillion & White Wealth Management Group LLC now owns 95 shares of the company’s stock worth $30,000 after purchasing an additional 47 shares during the period. SJS Investment Consulting Inc. grew its holdings in Snap-On by 1,880.0% during the third quarter. SJS Investment Consulting Inc. now owns 99 shares of the company’s stock valued at $34,000 after purchasing an additional 94 shares during the last quarter. Quent Capital LLC bought a new position in shares of Snap-On in the third quarter valued at approximately $36,000. Finally, CoreFirst Bank & Trust bought a new position in shares of Snap-On in the second quarter valued at approximately $37,000. Institutional investors and hedge funds own 84.88% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the stock. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Snap-On in a report on Wednesday, January 21st. Robert W. Baird set a $375.00 target price on shares of Snap-On in a report on Friday, February 6th. Roth Mkm reissued a “buy” rating and set a $409.00 target price (up from $385.00) on shares of Snap-On in a research report on Tuesday, February 10th. Wall Street Zen cut shares of Snap-On from a “buy” rating to a “hold” rating in a report on Saturday, February 7th. Finally, Tigress Financial lifted their price objective on Snap-On from $405.00 to $445.00 and gave the stock a “buy” rating in a research note on Friday, February 27th. Five analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $377.33.

Snap-On Trading Down 0.0%

Shares of SNA stock opened at $369.85 on Thursday. The firm has a market capitalization of $19.20 billion, a P/E ratio of 19.27, a price-to-earnings-growth ratio of 2.55 and a beta of 0.78. Snap-On Incorporated has a 1 year low of $289.81 and a 1 year high of $390.13. The firm’s fifty day simple moving average is $372.14 and its 200 day simple moving average is $350.80. The company has a current ratio of 4.79, a quick ratio of 3.68 and a debt-to-equity ratio of 0.20.

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

Snap-On Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 10th. Investors of record on Tuesday, February 24th were given a dividend of $2.44 per share. This represents a $9.76 annualized dividend and a dividend yield of 2.6%. The ex-dividend date was Tuesday, February 24th. Snap-On’s dividend payout ratio (DPR) is 50.86%.

Insider Buying and Selling

In related news, VP June C. Lemerand sold 1,378 shares of the business’s stock in a transaction on Wednesday, February 25th. The stock was sold at an average price of $387.57, for a total value of $534,071.46. Following the sale, the vice president owned 2,913 shares of the company’s stock, valued at $1,128,991.41. The trade was a 32.11% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Timothy L. Chambers sold 8,000 shares of the company’s stock in a transaction on Wednesday, February 4th. The shares were sold at an average price of $385.13, for a total value of $3,081,040.00. Following the completion of the sale, the senior vice president owned 19,480 shares in the company, valued at $7,502,332.40. This trade represents a 29.11% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 39,650 shares of company stock worth $15,210,959 over the last 90 days. Corporate insiders own 3.90% of the company’s stock.

Snap-On 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.