Citigroup Inc. Increases Stock Position in Snap-On Incorporated $SNA

Citigroup Inc. grew its stake in Snap-On Incorporated (NYSE:SNA) by 3.9% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 158,013 shares of the company’s stock after acquiring an additional 5,952 shares during the period. Citigroup Inc. owned about 0.30% of Snap-On worth $54,756,000 as of its most recent filing with the SEC.

Several other large investors have also recently made changes to their positions in the stock. Tobam acquired a new stake in Snap-On in the 2nd quarter valued at approximately $29,000. Vermillion & White Wealth Management Group LLC boosted its position in shares of 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 buying an additional 47 shares during the period. SJS Investment Consulting Inc. grew its stake in shares of Snap-On by 1,880.0% in 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 stake in shares of Snap-On in the third quarter valued at $36,000. Finally, CoreFirst Bank & Trust purchased a new stake in shares of Snap-On in the 2nd quarter valued at $37,000. 84.88% of the stock is currently owned by institutional investors and hedge funds.

Snap-On Stock Performance

Shares of SNA opened at $385.04 on Tuesday. Snap-On Incorporated has a 1 year low of $289.81 and a 1 year high of $390.13. The stock has a market capitalization of $19.99 billion, a PE ratio of 20.06, a PEG ratio of 2.66 and a beta of 0.81. The company has a debt-to-equity ratio of 0.20, a quick ratio of 3.68 and a current ratio of 4.79. The stock has a 50-day simple moving average of $364.64 and a 200-day simple moving average of $346.29.

Snap-On (NYSE:SNA) last released its earnings results on Thursday, February 5th. The company reported $4.94 earnings per share for the quarter, topping analysts’ consensus estimates of $4.86 by $0.08. Snap-On had a net margin of 21.44% and a return on equity of 17.34%. The firm had revenue of $1.23 billion for the quarter, compared to analyst estimates of $1.24 billion. During the same period in the prior year, the firm earned $4.82 earnings per share. The business’s quarterly revenue was up 2.8% compared to the same quarter last year. On average, analysts predict that Snap-On Incorporated will post 19.79 earnings per share for the current fiscal year.

Snap-On Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 10th. Stockholders of record on Tuesday, February 24th will be issued a $2.44 dividend. This represents a $9.76 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date is Tuesday, February 24th. Snap-On’s dividend payout ratio (DPR) is presently 50.86%.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on SNA. Roth Mkm restated a “buy” rating and set a $409.00 target price (up from $385.00) on shares of Snap-On in a report on Tuesday, February 10th. Wall Street Zen cut shares of Snap-On from a “buy” rating to a “hold” rating in a research report on Saturday, February 7th. Weiss Ratings restated a “buy (b)” rating on shares of Snap-On in a report on Wednesday, January 21st. Finally, Robert W. Baird set a $375.00 target price on shares of Snap-On in a research note on Friday, February 6th. Five research 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 stock presently has an average rating of “Moderate Buy” and an average price target of $370.67.

Insider Activity

In other Snap-On news, CEO Nicholas T. Pinchuk sold 23,229 shares of Snap-On stock in a transaction dated Monday, February 23rd. The stock was sold at an average price of $383.36, for a total transaction of $8,905,069.44. Following the completion of the sale, the chief executive officer directly owned 846,562 shares of the company’s stock, valued at $324,538,008.32. The trade was a 2.67% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Timothy L. Chambers sold 8,000 shares of the company’s 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 transaction, the senior vice president directly owned 19,480 shares of the company’s stock, valued at approximately $7,502,332.40. This represents a 29.11% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 74,477 shares of company stock valued at $27,095,756 in the last 90 days. Company insiders own 3.90% of the company’s stock.

About Snap-On

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.