Snap-on Incorporated (NYSE:SNA) Shares Acquired by Principal Financial Group Inc.

Principal Financial Group Inc. increased its stake in shares of Snap-on Incorporated (NYSE:SNA - Free Report) by 6.8% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 299,674 shares of the company's stock after purchasing an additional 19,081 shares during the period. Principal Financial Group Inc. owned approximately 0.57% of Snap-on worth $101,737,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. J.W. Cole Advisors Inc. increased its stake in Snap-on by 5.8% during the fourth quarter. J.W. Cole Advisors Inc. now owns 2,372 shares of the company's stock worth $805,000 after purchasing an additional 130 shares during the period. MOKAN Wealth Management Inc. acquired a new position in shares of Snap-on in the fourth quarter valued at approximately $1,656,000. VeraBank N.A. acquired a new position in shares of Snap-on in the fourth quarter valued at approximately $221,000. Allworth Financial LP increased its stake in Snap-on by 8.5% during the 4th quarter. Allworth Financial LP now owns 483 shares of the company's stock worth $170,000 after buying an additional 38 shares during the period. Finally, Strategic Financial Concepts LLC acquired a new stake in Snap-on during the 4th quarter worth approximately $5,647,000. Institutional investors and hedge funds own 84.88% of the company's stock.

Snap-on Stock Down 0.8 %

Shares of NYSE:SNA traded down $2.63 during trading hours on Friday, reaching $335.87. The stock had a trading volume of 315,566 shares, compared to its average volume of 388,623. The stock has a market capitalization of $17.60 billion, a price-to-earnings ratio of 17.22, a P/E/G ratio of 2.23 and a beta of 0.99. The firm's 50 day moving average is $344.18 and its 200-day moving average is $322.76. Snap-on Incorporated has a 1 year low of $252.98 and a 1 year high of $373.89. The company has a debt-to-equity ratio of 0.22, a quick ratio of 3.17 and a current ratio of 4.15.

Snap-on (NYSE:SNA - Get Free Report) last posted its quarterly earnings results on Thursday, February 6th. The company reported $4.82 earnings per share for the quarter, beating 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 earned $4.75 EPS. Research analysts predict that Snap-on Incorporated will post 19.79 earnings per share for the current fiscal year.

Snap-on Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Monday, February 24th will be issued a $2.14 dividend. This represents a $8.56 dividend on an annualized basis and a yield of 2.55%. The ex-dividend date is Monday, February 24th. Snap-on's dividend payout ratio (DPR) is 43.90%.

Analyst Ratings Changes

Several equities analysts have commented on SNA shares. Barrington Research restated an "outperform" rating and issued a $350.00 price target on shares of Snap-on in a research note on Monday, February 10th. Tigress Financial boosted their target price on Snap-on from $336.00 to $385.00 and gave the stock a "buy" rating in a research note on Friday, October 25th. One research analyst has rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $345.40.

Insider Buying and Selling at Snap-on

In other Snap-on news, VP June C. Lemerand sold 3,500 shares of the company'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 completion of the transaction, the vice president now owns 2,289 shares in the company, valued at $830,586.54. This represents a 60.46 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, SVP Jesus Arregui sold 6,451 shares of Snap-on stock in a transaction dated 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 $86,817.17. This trade represents a 96.17 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 45,503 shares of company stock worth $15,906,074 over the last three months. Insiders own 4.10% of the company's stock.

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.