Hsbc Holdings PLC Has $169.30 Million Stock Holdings in Snap-on Incorporated (NYSE:SNA)

Hsbc Holdings PLC grew its stake in shares of Snap-on Incorporated (NYSE:SNA - Free Report) by 19.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 498,626 shares of the company's stock after purchasing an additional 79,791 shares during the period. Hsbc Holdings PLC owned approximately 0.95% of Snap-on worth $169,302,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in SNA. UMB Bank n.a. boosted its holdings in Snap-on by 70.5% in the fourth quarter. UMB Bank n.a. now owns 75 shares of the company's stock worth $25,000 after acquiring an additional 31 shares in the last quarter. SBI Securities Co. Ltd. bought a new position in shares of Snap-on in the 4th quarter worth $26,000. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in Snap-on in the 4th quarter valued at $28,000. CoreFirst Bank & Trust bought a new stake in Snap-on during the 4th quarter valued at $40,000. Finally, TCTC Holdings LLC raised its holdings in Snap-on by 41.3% during the fourth quarter. TCTC Holdings LLC now owns 147 shares of the company's stock worth $50,000 after buying an additional 43 shares during the last quarter. Institutional investors own 84.88% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on SNA shares. Longbow Research raised shares of Snap-on from a "neutral" rating to a "buy" rating and set a $400.00 target price for the company in a research report on Monday, March 31st. Tigress Financial boosted their price objective on Snap-on from $385.00 to $390.00 and gave the stock a "buy" rating in a report on Tuesday, March 4th. StockNews.com lowered Snap-on from a "buy" rating to a "hold" rating in a report on Friday, April 18th. Robert W. Baird decreased their price target on Snap-on from $349.00 to $320.00 and set a "neutral" rating for the company in a report on Monday. Finally, Barrington Research restated an "outperform" rating and set a $350.00 price objective on shares of Snap-on in a research note on Thursday, April 17th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $350.83.

Snap-on Stock Up 3.1 %

SNA stock opened at $301.41 on Wednesday. The stock has a market cap of $15.80 billion, a P/E ratio of 15.46, a P/E/G ratio of 2.21 and a beta of 0.84. 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 stock's fifty day simple moving average is $330.06 and its two-hundred day simple moving average is $338.13. Snap-on Incorporated has a 1-year low of $252.98 and a 1-year high of $373.90.

Snap-on (NYSE:SNA - Get Free Report) last posted its quarterly earnings results on Thursday, April 17th. The company reported $4.51 earnings per share for the quarter, missing the consensus estimate of $4.81 by ($0.30). The company had revenue of $1.14 billion for the quarter, compared to the consensus estimate of $1.20 billion. 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 company posted $4.91 EPS. Analysts expect that Snap-on Incorporated will post 19.79 EPS for the current year.

Snap-on Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Monday, February 24th were issued a $2.14 dividend. The ex-dividend date of this dividend was Monday, February 24th. This represents a $8.56 dividend on an annualized basis and a dividend yield of 2.84%. Snap-on's dividend payout ratio (DPR) is presently 44.82%.

Insider Activity at Snap-on

In other news, SVP Jesus Arregui sold 6,451 shares of the company's stock in a transaction on Monday, February 10th. The stock was sold at an average price of $337.81, for a total transaction of $2,179,212.31. Following the transaction, the senior vice president now owns 257 shares of the company's stock, valued at $86,817.17. This represents a 96.17 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Nicholas T. Pinchuk sold 22,700 shares of Snap-on 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 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 position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 36,011 shares of company stock worth $12,116,859. 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.

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