Sarasin & Partners LLP Acquires Shares of 78,215 Snap-on Incorporated (NYSE:SNA)

Sarasin & Partners LLP acquired a new position in shares of Snap-on Incorporated (NYSE:SNA) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 78,215 shares of the company’s stock, valued at approximately $26,359,000. Sarasin & Partners LLP owned 0.15% of Snap-on at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of SNA. Handelsbanken Fonder AB increased its position in Snap-on by 0.9% during the first quarter. Handelsbanken Fonder AB now owns 38,476 shares of the company’s stock worth $12,967,000 after acquiring an additional 353 shares during the period. SG Americas Securities LLC grew its position in shares of Snap-on by 634.8% during the 1st quarter. SG Americas Securities LLC now owns 3,762 shares of the company’s stock worth $1,268,000 after purchasing an additional 3,250 shares in the last quarter. GAMMA Investing LLC increased its holdings in shares of Snap-on by 93.5% during the first quarter. GAMMA Investing LLC now owns 2,086 shares of the company’s stock worth $703,000 after purchasing an additional 1,008 shares during the period. Portside Wealth Group LLC increased its holdings in shares of Snap-on by 4.6% during the first quarter. Portside Wealth Group LLC now owns 3,078 shares of the company’s stock worth $1,037,000 after purchasing an additional 134 shares during the period. Finally, First Citizens Bank & Trust Co. raised its position in shares of Snap-on by 5.3% in the first quarter. First Citizens Bank & Trust Co. now owns 33,794 shares of the company’s stock valued at $11,389,000 after buying an additional 1,705 shares in the last quarter. Institutional investors and hedge funds own 84.88% of the company’s stock.

Snap-on Stock Down 0.3%

NYSE SNA opened at $320.73 on Tuesday. The business has a fifty day moving average price of $318.98 and a two-hundred day moving average price of $335.28. The stock has a market capitalization of $16.77 billion, a PE ratio of 16.45, a PEG ratio of 2.21 and a beta of 0.78. Snap-on Incorporated has a fifty-two week low of $252.98 and a fifty-two week high of $373.90. The company has a debt-to-equity ratio of 0.22, a current ratio of 4.15 and a quick ratio of 3.17.

Snap-on (NYSE:SNA) last issued its earnings results on Thursday, April 17th. The company reported $4.51 EPS for the quarter, missing the consensus estimate of $4.81 by ($0.30). Snap-on had a return on equity of 19.20% and a net margin of 21.71%. The business had revenue of $1.14 billion for the quarter, compared to analyst estimates of $1.20 billion. During the same period in the previous year, the firm posted $4.91 EPS. Equities analysts expect that Snap-on Incorporated will post 19.79 earnings per share for the current fiscal year.

Snap-on Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Tuesday, May 20th will be issued a dividend of $2.14 per share. The ex-dividend date of this dividend is Tuesday, May 20th. This represents a $8.56 annualized dividend and a dividend yield of 2.67%. Snap-on’s dividend payout ratio (DPR) is presently 44.82%.

Insider Transactions at Snap-on

In other Snap-on news, CEO Nicholas T. Pinchuk sold 22,700 shares of the company’s stock in a transaction dated Thursday, March 27th. The stock was sold at an average price of $335.32, for a total value of $7,611,764.00. Following the completion of the transaction, the chief executive officer now owns 793,932 shares of the company’s stock, valued at $266,221,278.24. This represents a 2.78% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Aldo John Pagliari sold 5,553 shares of Snap-on stock in a transaction dated Thursday, May 15th. The shares were sold at an average price of $326.84, for a total value of $1,814,942.52. Following the sale, the chief financial officer now directly owns 109,560 shares in the company, valued at $35,808,590.40. The trade was a 4.82% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 52,515 shares of company stock worth $17,094,296. Corporate insiders own 3.90% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the company. Longbow Research raised Snap-on from a “neutral” rating to a “buy” rating and set a $400.00 price target on the stock in a research report on Monday, March 31st. Tigress Financial upped their target price on Snap-on from $385.00 to $390.00 and gave the company a “buy” rating in a research report on Tuesday, March 4th. Wall Street Zen raised Snap-on from a “hold” rating to a “buy” rating in a report on Friday, May 16th. Robert W. Baird dropped their price target on Snap-on from $349.00 to $320.00 and set a “neutral” rating for the company in a research note on Monday, April 21st. Finally, Barrington Research reaffirmed an “outperform” rating and set a $350.00 price objective on shares of Snap-on in a research report on Monday, May 19th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, Snap-on currently has an average rating of “Moderate Buy” and an average target price of $350.83.

Snap-on Profile

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.