Johnson Financial Group Inc. Grows Stock Holdings in Snap-on Incorporated (NYSE:SNA)

Johnson Financial Group Inc. increased its holdings in shares of Snap-on Incorporated (NYSE:SNA) by 3.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,916 shares of the company’s stock after purchasing an additional 110 shares during the period. Johnson Financial Group Inc.’s holdings in Snap-on were worth $1,036,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also modified their holdings of the company. Bleakley Financial Group LLC acquired a new stake in Snap-on during the fourth quarter worth about $512,000. Vest Financial LLC raised its holdings in shares of Snap-on by 2.4% during the fourth quarter. Vest Financial LLC now owns 102,987 shares of the company’s stock valued at $34,962,000 after acquiring an additional 2,460 shares during the last quarter. World Investment Advisors LLC acquired a new position in Snap-on in the 3rd quarter valued at $19,291,000. Avanza Fonder AB acquired a new stake in Snap-on during the 4th quarter worth $1,936,000. Finally, Empirical Finance LLC raised its position in shares of Snap-on by 45.8% in the fourth quarter. Empirical Finance LLC now owns 5,906 shares of the company’s stock valued at $2,005,000 after buying an additional 1,856 shares during the last quarter. Hedge funds and other institutional investors own 84.88% of the company’s stock.

Wall Street Analyst Weigh In

SNA has been the topic of a number of recent research reports. Robert W. Baird lowered their price target on shares of Snap-on from $349.00 to $320.00 and set a “neutral” rating on the stock in a research report on Monday, April 21st. Barrington Research restated an “outperform” rating and set a $350.00 target price on shares of Snap-on in a report on Thursday, April 17th. Tigress Financial increased their price target on Snap-on from $385.00 to $390.00 and gave the company a “buy” rating in a report on Tuesday, March 4th. StockNews.com cut Snap-on from a “buy” rating to a “hold” rating in a report on Friday, April 18th. Finally, Longbow Research upgraded Snap-on from a “neutral” rating to a “buy” rating and set a $400.00 price target on the stock in a report on Monday, March 31st. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $350.83.

Snap-on Price Performance

SNA stock opened at $308.64 on Friday. The stock has a market cap of $16.14 billion, a price-to-earnings ratio of 15.83, a price-to-earnings-growth ratio of 2.21 and a beta of 0.84. Snap-on Incorporated has a 52-week low of $252.98 and a 52-week high of $373.90. The business has a fifty day moving average of $328.13 and a two-hundred day moving average of $338.59. The company has a quick ratio of 3.17, a current ratio of 4.15 and a debt-to-equity ratio of 0.22.

Snap-on (NYSE:SNA) last announced its earnings results on Thursday, April 17th. The company reported $4.51 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.81 by ($0.30). Snap-on had a net margin of 21.71% and a return on equity of 19.20%. The firm had revenue of $1.14 billion during the quarter, compared to analysts’ expectations of $1.20 billion. During the same period in the previous year, the firm earned $4.91 EPS. As a group, research analysts anticipate that Snap-on Incorporated will post 19.79 earnings per share for the current year.

Snap-on Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Tuesday, May 20th will be issued a $2.14 dividend. This represents a $8.56 dividend on an annualized basis and a dividend yield of 2.77%. The ex-dividend date of this dividend is Tuesday, May 20th. Snap-on’s dividend payout ratio (DPR) is currently 44.82%.

Insiders Place Their Bets

In other Snap-on news, SVP Jesus Arregui sold 6,451 shares of the stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $337.81, for a total value of $2,179,212.31. Following the sale, the senior vice president now directly owns 257 shares of the company’s stock, valued at approximately $86,817.17. This represents a 96.17 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Nicholas T. Pinchuk sold 22,700 shares of Snap-on stock in a transaction on Thursday, March 27th. The stock was sold at an average price of $335.32, for a total transaction of $7,611,764.00. Following the sale, the chief executive officer now directly owns 793,932 shares of the company’s stock, valued at approximately $266,221,278.24. This trade represents a 2.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 36,011 shares of company stock worth $12,116,859 over the last 90 days. Corporate insiders own 3.90% of the company’s stock.

About Snap-on

Snap-on Incorporated manufactures and markets tools, equipment, diagnostics, and repair information and systems solutions for professional users worldwide. It operates through Commercial & Industrial Group, Snap-on Tools Group, Repair Systems & Information Group, and Financial Services segments.