Snap-on Incorporated (NYSE:SNA) Shares Sold by J. Safra Sarasin Holding AG

J. Safra Sarasin Holding AG decreased its stake in shares of Snap-on Incorporated (NYSE:SNA - Free Report) by 17.6% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 4,654 shares of the company's stock after selling 993 shares during the period. J. Safra Sarasin Holding AG's holdings in Snap-on were worth $1,580,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the stock. Barclays PLC raised its position in shares of Snap-on by 1.8% in the 3rd quarter. Barclays PLC now owns 100,262 shares of the company's stock worth $29,044,000 after buying an additional 1,803 shares during the period. Pine Valley Investments Ltd Liability Co purchased a new position in shares of Snap-on in the 3rd quarter worth about $208,000. World Investment Advisors LLC acquired a new position in shares of Snap-on in the 3rd quarter valued at about $19,291,000. Wilmington Savings Fund Society FSB grew its holdings in shares of Snap-on by 37.0% during the 3rd quarter. Wilmington Savings Fund Society FSB now owns 5,097 shares of the company's stock worth $1,477,000 after purchasing an additional 1,377 shares during the period. Finally, Synovus Financial Corp increased its position in Snap-on by 4.5% during the 3rd quarter. Synovus Financial Corp now owns 4,179 shares of the company's stock worth $1,210,000 after purchasing an additional 180 shares in the last quarter. Hedge funds and other institutional investors own 84.88% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on SNA shares. Robert W. Baird dropped their price objective on shares of Snap-on from $349.00 to $320.00 and set a "neutral" rating for the company in a research report on Monday. 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. Longbow Research upgraded 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, March 31st. Tigress Financial boosted their price target on Snap-on from $385.00 to $390.00 and gave the stock a "buy" rating in a research report on Tuesday, March 4th. Finally, StockNews.com downgraded shares of Snap-on from a "buy" rating to a "hold" rating in a research report on Friday, April 18th. One analyst has rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, Snap-on currently has a consensus rating of "Hold" and a consensus price target of $350.83.

Snap-on Trading Up 3.1 %

Snap-on stock opened at $301.41 on Wednesday. The firm has a 50-day moving average price of $330.06 and a two-hundred day moving average price of $338.13. Snap-on Incorporated has a 52-week low of $252.98 and a 52-week high of $373.90. The firm has a market capitalization of $15.80 billion, a price-to-earnings ratio of 15.46, a PEG ratio of 2.21 and a beta of 0.84. 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 (NYSE:SNA - Get Free Report) last issued its quarterly earnings data on Thursday, April 17th. The company reported $4.51 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $4.81 by ($0.30). Snap-on had a return on equity of 19.20% and a net margin of 21.71%. The business had revenue of $1.14 billion during the quarter, compared to the consensus estimate of $1.20 billion. During the same period last year, the company earned $4.91 earnings per share. Sell-side analysts expect that Snap-on Incorporated will post 19.79 earnings per share for the current year.

Snap-on Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, March 10th. Stockholders 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 dividend yield of 2.84%. The ex-dividend date was Monday, February 24th. Snap-on's dividend payout ratio (DPR) is 44.82%.

Insider Activity

In related news, SVP Jesus Arregui sold 6,451 shares of the 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 transaction, the senior vice president now owns 257 shares in the company, valued at $86,817.17. This represents a 96.17 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Nicholas T. Pinchuk sold 22,700 shares of the firm's stock in a transaction dated Thursday, March 27th. The shares were sold at an average price of $335.32, for a total transaction of $7,611,764.00. Following the transaction, the chief executive officer now directly owns 793,932 shares in the company, valued at approximately $266,221,278.24. The trade was a 2.78 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 36,011 shares of company stock valued at $12,116,859. Company insiders own 3.90% of the company's stock.

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.

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