Allspring Global Investments Holdings LLC Purchases 8,471 Shares of Snap-on Incorporated (NYSE:SNA)

Allspring Global Investments Holdings LLC boosted its position in shares of Snap-on Incorporated (NYSE:SNA - Free Report) by 89.4% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 17,951 shares of the company's stock after buying an additional 8,471 shares during the period. Allspring Global Investments Holdings LLC's holdings in Snap-on were worth $6,016,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Bleakley Financial Group LLC acquired a new stake in shares of Snap-on during the 4th quarter worth approximately $512,000. Vest Financial LLC raised its position in Snap-on by 2.4% in the fourth quarter. Vest Financial LLC now owns 102,987 shares of the company's stock valued at $34,962,000 after purchasing an additional 2,460 shares during the last quarter. Asset Management One Co. Ltd. boosted its stake in shares of Snap-on by 0.3% during the third quarter. Asset Management One Co. Ltd. now owns 19,896 shares of the company's stock valued at $5,764,000 after purchasing an additional 67 shares in the last quarter. Sanctuary Advisors LLC increased its stake in shares of Snap-on by 3.6% in the third quarter. Sanctuary Advisors LLC now owns 45,783 shares of the company's stock valued at $13,264,000 after buying an additional 1,605 shares during the period. Finally, World Investment Advisors LLC bought a new position in Snap-on in the 3rd quarter valued at approximately $19,291,000. 84.88% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

SNA has been the subject of several analyst reports. Tigress Financial raised their price target on shares of Snap-on from $336.00 to $385.00 and gave the company a "buy" rating in a research note on Friday, October 25th. Barrington Research reaffirmed an "outperform" rating and set a $350.00 target price on shares of Snap-on in a research report on Monday, February 10th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $345.40.

Snap-on Stock Down 1.3 %

NYSE SNA traded down $4.44 during mid-day trading on Friday, hitting $334.06. The company's stock had a trading volume of 112,424 shares, compared to its average volume of 382,431. The company has a current ratio of 4.15, a quick ratio of 3.17 and a debt-to-equity ratio of 0.22. The company's 50 day simple moving average is $344.18 and its 200 day simple moving average is $322.76. The firm has a market capitalization of $17.50 billion, a price-to-earnings ratio of 17.13, a PEG ratio of 2.23 and a beta of 0.99. Snap-on Incorporated has a twelve month low of $252.98 and a twelve month high of $373.89.

Snap-on (NYSE:SNA - Get Free Report) last posted its earnings results on Thursday, February 6th. The company reported $4.82 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.78 by $0.04. Snap-on had a net margin of 21.71% and a return on equity of 19.20%. During the same period last year, the business posted $4.75 earnings per share. Analysts anticipate that Snap-on Incorporated will post 19.79 earnings per share for the current year.

Snap-on Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Stockholders of record on Monday, February 24th will be given a dividend of $2.14 per share. This represents a $8.56 annualized dividend and a dividend yield of 2.56%. The ex-dividend date is Monday, February 24th. Snap-on's dividend payout ratio is presently 43.90%.

Insider Buying and Selling

In related news, CEO Nicholas T. Pinchuk sold 21,783 shares of Snap-on stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $354.83, for a total value of $7,729,261.89. Following the completion of the transaction, the chief executive officer now directly owns 769,738 shares in the company, valued at approximately $273,126,134.54. The trade was a 2.75 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP June C. Lemerand sold 3,500 shares of the business's stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $362.86, for a total value of $1,270,010.00. Following the sale, the vice president now owns 2,289 shares in the company, valued at approximately $830,586.54. The trade was a 60.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 38,643 shares of company stock valued at $13,580,191. 4.10% of the stock is owned by insiders.

Snap-on Company 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.