Korea Investment CORP Purchases 9,794 Shares of Snap-on Incorporated (NYSE:SNA)

Korea Investment CORP raised its stake in Snap-on Incorporated (NYSE:SNA - Free Report) by 25.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 48,692 shares of the company's stock after buying an additional 9,794 shares during the quarter. Korea Investment CORP owned 0.09% of Snap-on worth $16,530,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Greenleaf Trust raised its position in shares of Snap-on by 3.1% in the 4th quarter. Greenleaf Trust now owns 1,013 shares of the company's stock valued at $344,000 after acquiring an additional 30 shares during the period. UMB Bank n.a. raised 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 purchasing an additional 31 shares during the period. WCM Investment Management LLC boosted its position in shares of Snap-on by 4.5% during the fourth quarter. WCM Investment Management LLC now owns 727 shares of the company's stock worth $247,000 after purchasing an additional 31 shares in the last quarter. New York Life Investment Management LLC grew its holdings in shares of Snap-on by 0.4% in the 4th quarter. New York Life Investment Management LLC now owns 7,106 shares of the company's stock valued at $2,412,000 after buying an additional 31 shares during the period. Finally, Inspire Advisors LLC increased its position in shares of Snap-on by 1.0% in the 4th quarter. Inspire Advisors LLC now owns 3,382 shares of the company's stock valued at $1,148,000 after buying an additional 34 shares in the last quarter. Institutional investors own 84.88% of the company's stock.

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Insiders Place Their Bets

In related news, SVP Jesus Arregui sold 6,451 shares of the stock in a transaction on Monday, February 10th. The stock was sold at an average price of $337.81, for a total value of $2,179,212.31. Following the sale, the senior vice president now owns 257 shares in the company, valued at approximately $86,817.17. This represents a 96.17 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Aldo John Pagliari sold 6,860 shares of the company's stock in a transaction on 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 completion of the transaction, the chief financial officer now owns 107,096 shares in the company, valued at approximately $36,310,898.80. This represents a 6.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 36,011 shares of company stock valued at $12,116,859 over the last 90 days. 3.90% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

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

Snap-on Stock Up 0.3 %

Shares of NYSE:SNA traded up $1.05 during midday trading on Wednesday, reaching $340.63. The company had a trading volume of 141,563 shares, compared to its average volume of 341,241. Snap-on Incorporated has a 1-year low of $252.98 and a 1-year high of $373.90. The stock has a market cap of $17.86 billion, a PE ratio of 17.47, a P/E/G ratio of 2.21 and a beta of 0.99. The company has a quick ratio of 3.17, a current ratio of 4.15 and a debt-to-equity ratio of 0.22. The business's 50 day moving average price is $339.60 and its 200 day moving average price is $334.75.

Snap-on (NYSE:SNA - Get Free Report) last issued its 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 net margin of 21.71% and a return on equity of 19.20%. During the same quarter in the prior year, the business earned $4.75 EPS. Research analysts forecast that Snap-on Incorporated will post 19.79 EPS for the current fiscal year.

Snap-on Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, March 10th. Investors 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 2.51%. The ex-dividend date of this dividend was Monday, February 24th. Snap-on's payout ratio is currently 43.90%.

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.