Assenagon Asset Management S.A. Has $6.97 Million Stock Holdings in Snap-On Incorporated $SNA

Assenagon Asset Management S.A. decreased its stake in Snap-On Incorporated (NYSE:SNA) by 70.8% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 20,214 shares of the company’s stock after selling 49,047 shares during the quarter. Assenagon Asset Management S.A.’s holdings in Snap-On were worth $6,966,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of the stock. GoalVest Advisory LLC purchased a new position in shares of Snap-On in the fourth quarter worth approximately $28,000. SJS Investment Consulting Inc. grew its holdings in shares of 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 buying an additional 94 shares in the last quarter. Quent Capital LLC acquired a new position in Snap-On during the third quarter valued at $36,000. CoreFirst Bank & Trust acquired a new position in Snap-On during the second quarter valued at $37,000. Finally, CYBER HORNET ETFs LLC purchased a new stake in Snap-On in the 2nd quarter worth about $43,000. Hedge funds and other institutional investors own 84.88% of the company’s stock.

Insider Activity at Snap-On

In related news, CEO Nicholas T. Pinchuk sold 23,229 shares of the stock in a transaction dated Monday, February 23rd. The shares were sold at an average price of $383.36, for a total value of $8,905,069.44. Following the completion of the sale, the chief executive officer owned 846,562 shares in the company, valued at approximately $324,538,008.32. This trade represents a 2.67% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Timothy L. Chambers sold 8,000 shares of Snap-On stock in a transaction dated 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 sale, the senior vice president directly owned 19,480 shares in the company, valued at approximately $7,502,332.40. This trade represents a 29.11% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 39,650 shares of company stock valued at $15,210,959 in the last quarter. Company insiders own 3.80% of the company’s stock.

Snap-On Stock Down 1.0%

Snap-On stock opened at $358.21 on Friday. The company has a debt-to-equity ratio of 0.20, a current ratio of 4.79 and a quick ratio of 3.68. Snap-On Incorporated has a fifty-two week low of $289.81 and a fifty-two week high of $390.13. The firm has a fifty day moving average price of $373.59 and a two-hundred day moving average price of $353.89. The firm has a market cap of $18.65 billion, a price-to-earnings ratio of 18.67, a P/E/G ratio of 2.48 and a beta of 0.78.

Snap-On (NYSE:SNA) last issued its quarterly earnings results on Thursday, February 5th. The company reported $4.94 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.86 by $0.08. Snap-On had a return on equity of 17.34% and a net margin of 21.44%.The company had revenue of $1.23 billion for the quarter, compared to the consensus estimate of $1.24 billion. During the same period last year, the business posted $4.82 earnings per share. The firm’s revenue was up 2.8% compared to the same quarter last year. As a group, analysts forecast that Snap-On Incorporated will post 19.79 earnings per share 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 paid a dividend of $2.44 per share. This represents a $9.76 annualized dividend and a yield of 2.7%. The ex-dividend date was Tuesday, February 24th. Snap-On’s dividend payout ratio is presently 50.86%.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the company. Weiss Ratings restated a “buy (b)” rating on shares of Snap-On in a research report on Wednesday, January 21st. Roth Mkm restated a “buy” rating and set a $409.00 price target (up from $385.00) on shares of Snap-On in a report on Tuesday, February 10th. Wall Street Zen downgraded shares of Snap-On from a “buy” rating to a “hold” rating in a research note on Saturday, February 7th. Robert W. Baird set a $375.00 target price on Snap-On in a research note on Friday, February 6th. Finally, Tigress Financial upped their target price on Snap-On from $405.00 to $445.00 and gave the stock a “buy” rating in a research report 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 stock. According to data from MarketBeat.com, Snap-On has a consensus rating of “Moderate Buy” and a consensus target price of $377.33.

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.