Snap-on Incorporated (NYSE:SNA) Holdings Boosted by Cibc World Markets Corp

Cibc World Markets Corp raised its position in shares of Snap-on Incorporated (NYSE:SNA - Free Report) by 16.1% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 8,301 shares of the company's stock after buying an additional 1,153 shares during the quarter. Cibc World Markets Corp's holdings in Snap-on were worth $2,818,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of SNA. SouthState Corp raised its position in shares of Snap-on by 1.0% during the 4th quarter. SouthState Corp now owns 22,025 shares of the company's stock valued at $7,477,000 after acquiring an additional 221 shares in the last quarter. Signature Wealth Management Group lifted its position in shares of Snap-on by 0.9% in the 4th quarter. Signature Wealth Management Group now owns 4,307 shares of the company's stock worth $1,462,000 after buying an additional 39 shares during the last quarter. Corient Private Wealth LLC boosted its holdings in shares of Snap-on by 3.5% in the 4th quarter. Corient Private Wealth LLC now owns 22,987 shares of the company's stock valued at $7,803,000 after buying an additional 783 shares during the period. Gitterman Wealth Management LLC bought a new stake in shares of Snap-on during the 4th quarter valued at about $227,000. Finally, Envestnet Portfolio Solutions Inc. raised its stake in Snap-on by 0.3% during the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 65,095 shares of the company's stock worth $22,098,000 after acquiring an additional 166 shares during the period. Institutional investors own 84.88% of the company's stock.

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Snap-on Stock Performance

SNA stock traded down $1.37 on Tuesday, reaching $335.99. The company's stock had a trading volume of 289,674 shares, compared to its average volume of 325,162. Snap-on Incorporated has a 52 week low of $252.98 and a 52 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. The company has a market capitalization of $17.61 billion, a P/E ratio of 17.23, a price-to-earnings-growth ratio of 2.21 and a beta of 0.99. The firm has a fifty day moving average of $340.95 and a two-hundred day moving average of $332.24.

Snap-on (NYSE:SNA - Get Free Report) last released its earnings results on Thursday, February 6th. The company reported $4.82 EPS for the quarter, beating 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 quarter in the previous year, the business posted $4.75 EPS. As a group, analysts predict that Snap-on Incorporated will post 19.79 EPS for the current fiscal year.

Snap-on Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Stockholders of record on Monday, February 24th were paid a $2.14 dividend. This represents a $8.56 dividend on an annualized basis and a dividend yield of 2.55%. The ex-dividend date of this dividend was Monday, February 24th. Snap-on's dividend payout ratio is presently 43.90%.

Insider Activity

In other Snap-on news, SVP Jesus Arregui sold 6,451 shares of the company's stock in a transaction dated 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 completion of 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 legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Aldo John Pagliari sold 6,860 shares of the firm's stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $339.05, for a total transaction of $2,325,883.00. Following the transaction, the chief financial officer now owns 107,096 shares of the company's stock, valued at approximately $36,310,898.80. This trade represents a 6.02 % decrease in their position. The disclosure for this sale can be found here. Insiders own 4.10% of the company's stock.

Analyst Ratings Changes

Several equities analysts have recently commented on SNA shares. Tigress Financial upped their target price on Snap-on from $385.00 to $390.00 and gave the company a "buy" rating in a report on Tuesday, March 4th. Barrington Research reaffirmed an "outperform" rating and issued a $350.00 target price on shares of Snap-on in a research report on Monday, February 10th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $346.40.

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.