Snap-On Incorporated $SNA Shares Sold by B. Metzler seel. Sohn & Co. AG

B. Metzler seel. Sohn & Co. AG trimmed its position in shares of Snap-On Incorporated (NYSE:SNA) by 59.6% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,692 shares of the company’s stock after selling 2,491 shares during the quarter. B. Metzler seel. Sohn & Co. AG’s holdings in Snap-On were worth $586,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Generali Asset Management SPA SGR purchased a new stake in shares of Snap-On during the third quarter worth $2,068,000. DNB Asset Management AS boosted its holdings in Snap-On by 65.5% in the third quarter. DNB Asset Management AS now owns 23,702 shares of the company’s stock valued at $8,213,000 after purchasing an additional 9,377 shares during the period. Norges Bank acquired a new position in Snap-On during the 2nd quarter worth $168,010,000. Bahl & Gaynor Inc. increased its holdings in Snap-On by 1.3% during the 3rd quarter. Bahl & Gaynor Inc. now owns 381,283 shares of the company’s stock worth $132,126,000 after purchasing an additional 4,932 shares during the period. Finally, First Citizens Bank & Trust Co. raised its position in Snap-On by 3.6% in the 3rd quarter. First Citizens Bank & Trust Co. now owns 40,140 shares of the company’s stock valued at $13,910,000 after purchasing an additional 1,404 shares in the last quarter. 84.88% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

SNA has been the subject of several recent research reports. Tigress Financial lifted their price objective on Snap-On from $405.00 to $445.00 and gave the company a “buy” rating in a research note on Friday, February 27th. Wall Street Zen lowered 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 shares of Snap-On in a report on Friday, February 6th. Roth Mkm reiterated 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. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Snap-On in a research report on Wednesday, January 21st. Five analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $377.33.

Insider Buying and Selling

In related 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 owned 846,562 shares in the company, valued at approximately $324,538,008.32. This trade represents a 2.67% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP June C. Lemerand sold 1,378 shares of the business’s stock in a transaction dated Wednesday, February 25th. The shares were sold at an average price of $387.57, for a total transaction of $534,071.46. Following the completion of the transaction, the vice president directly 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. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 39,650 shares of company stock valued at $15,210,959. 3.90% of the stock is owned by insiders.

Snap-On Trading Down 0.0%

Shares of Snap-On stock opened at $369.85 on Thursday. The company has a market capitalization of $19.20 billion, a P/E ratio of 19.27, a PEG 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 company’s fifty day moving average is $372.14 and its two-hundred day moving average is $350.80. The company has a debt-to-equity ratio of 0.20, a quick ratio of 3.68 and a current ratio of 4.79.

Snap-On (NYSE:SNA) last announced its quarterly earnings data 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 net margin of 21.44% and a return on equity of 17.34%. The company had revenue of $1.23 billion for the quarter, compared to analysts’ expectations of $1.24 billion. During the same period in the previous year, the company posted $4.82 EPS. Snap-On’s revenue was up 2.8% compared to the same quarter last year. Analysts forecast that Snap-On Incorporated will post 19.79 earnings per share for the current year.

Snap-On Announces Dividend

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

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.