JPMorgan Chase & Co. Has $128.76 Million Position in Snap-on Incorporated (NYSE:SNA)

JPMorgan Chase & Co. reduced its stake in shares of Snap-on Incorporated (NYSE:SNA - Free Report) by 41.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 379,277 shares of the company's stock after selling 266,571 shares during the quarter. JPMorgan Chase & Co. owned 0.72% of Snap-on worth $128,758,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. Mitsubishi UFJ Asset Management Co. Ltd. raised its position in Snap-on by 4.9% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 83,375 shares of the company's stock worth $28,020,000 after acquiring an additional 3,863 shares during the last quarter. Korea Investment CORP increased its position in Snap-on by 25.2% during the fourth quarter. Korea Investment CORP now owns 48,692 shares of the company's stock worth $16,530,000 after buying an additional 9,794 shares in the last quarter. United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund acquired a new stake in shares of Snap-on during the fourth quarter valued at $543,000. UNIVEST FINANCIAL Corp increased its position in Snap-on by 1.3% during the 4th quarter. UNIVEST FINANCIAL Corp now owns 3,834 shares of the company's stock worth $1,302,000 after purchasing an additional 49 shares in the last quarter. Finally, Zions Bancorporation N.A. raised its stake in Snap-on by 52.9% in the 4th quarter. Zions Bancorporation N.A. now owns 1,784 shares of the company's stock valued at $606,000 after purchasing an additional 617 shares during the last quarter. 84.88% of the stock is owned by hedge funds and other institutional investors.

Remove Ads

Insider Buying and Selling

In other Snap-on news, SVP Jesus Arregui sold 6,451 shares of the business'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 completion of the transaction, the senior vice president now owns 257 shares in the company, valued at approximately $86,817.17. The trade was a 96.17 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, 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 transaction 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 $266,221,278.24. The trade was a 2.78 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 36,011 shares of company stock worth $12,116,859 over the last ninety days. 3.90% of the stock is owned by insiders.

Snap-on Trading Down 4.3 %

Shares of Snap-on stock traded down $14.69 during trading hours on Thursday, hitting $327.51. The company's stock had a trading volume of 571,416 shares, compared to its average volume of 343,307. The business has a fifty day moving average of $338.95 and a 200 day moving average of $334.75. 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 Incorporated has a 1-year low of $252.98 and a 1-year high of $373.90. The company has a market capitalization of $17.17 billion, a PE ratio of 16.80, a P/E/G ratio of 2.21 and a beta of 0.99.

Snap-on (NYSE:SNA - Get Free Report) last released its quarterly earnings results on Thursday, February 6th. The company reported $4.82 earnings per share for the quarter, topping analysts' consensus estimates of $4.78 by $0.04. Snap-on had a return on equity of 19.20% and a net margin of 21.71%. During the same period in the previous year, the firm posted $4.75 earnings per share. As a group, equities analysts forecast that Snap-on Incorporated will post 19.79 EPS for the current year.

Snap-on Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Monday, February 24th were issued a dividend of $2.14 per share. This represents a $8.56 dividend on an annualized basis and a yield of 2.61%. The ex-dividend date was Monday, February 24th. Snap-on's dividend payout ratio is presently 43.90%.

Analyst Ratings Changes

A number of research firms have recently weighed in on SNA. Tigress Financial boosted their price objective on shares of Snap-on from $385.00 to $390.00 and gave the company a "buy" rating in a research report on Tuesday, March 4th. Barrington Research reaffirmed an "outperform" rating and issued a $350.00 price objective on shares of Snap-on in a research report on Monday, February 10th. Finally, Longbow Research upgraded Snap-on from a "neutral" rating to a "buy" rating and set a $400.00 price target for the company in a report on Monday. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $355.33.

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.