JPMorgan Chase & Co. Has $187.11 Million Holdings in Snap-on Incorporated (NYSE:SNA)

JPMorgan Chase & Co. trimmed its position in shares of Snap-on Incorporated (NYSE:SNA - Free Report) by 49.4% during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 645,848 shares of the company's stock after selling 630,454 shares during the period. JPMorgan Chase & Co. owned 1.23% of Snap-on worth $187,109,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Reston Wealth Management LLC purchased a new position in Snap-on during the third quarter valued at approximately $30,000. Massmutual Trust Co. FSB ADV boosted its stake in shares of Snap-on by 53.0% during the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 127 shares of the company's stock valued at $37,000 after buying an additional 44 shares during the period. Brooklyn Investment Group purchased a new position in shares of Snap-on during the 3rd quarter valued at $39,000. Quarry LP grew its holdings in shares of Snap-on by 244.7% during the 2nd quarter. Quarry LP now owns 162 shares of the company's stock valued at $42,000 after acquiring an additional 115 shares in the last quarter. Finally, nVerses Capital LLC acquired a new position in shares of Snap-on in the third quarter worth $58,000. 84.88% of the stock is owned by institutional investors and hedge funds.

Snap-on Stock Performance

SNA traded down $0.48 on Wednesday, hitting $339.48. The company had a trading volume of 232,797 shares, compared to its average volume of 318,745. The company has a debt-to-equity ratio of 0.22, a current ratio of 4.18 and a quick ratio of 3.14. Snap-on Incorporated has a 1-year low of $252.98 and a 1-year high of $373.89. The company's fifty day moving average price is $350.91 and its 200 day moving average price is $304.10. The stock has a market cap of $17.83 billion, a price-to-earnings ratio of 17.47, a price-to-earnings-growth ratio of 2.35 and a beta of 0.98.

Snap-on (NYSE:SNA - Get Free Report) last issued its quarterly earnings results on Thursday, October 17th. The company reported $4.70 earnings per share for the quarter, beating analysts' consensus estimates of $4.58 by $0.12. Snap-on had a net margin of 22.13% and a return on equity of 19.44%. The firm had revenue of $1.15 billion during the quarter, compared to the consensus estimate of $1.16 billion. Equities analysts predict that Snap-on Incorporated will post 19.05 earnings per share for the current fiscal year.

Snap-on Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Thursday, November 21st were paid a dividend of $2.14 per share. This is a positive change from Snap-on's previous quarterly dividend of $1.86. This represents a $8.56 annualized dividend and a yield of 2.52%. The ex-dividend date of this dividend was Thursday, November 21st. Snap-on's dividend payout ratio is currently 44.06%.

Insider Activity at Snap-on

In other news, VP Richard Thomas Miller sold 1,750 shares of the business's stock in a transaction on Friday, October 18th. The shares were sold at an average price of $330.00, for a total value of $577,500.00. Following the completion of the transaction, the vice president now owns 3,218 shares of the company's stock, valued at $1,061,940. The trade was a 35.23 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Iain Boyd sold 6,044 shares of Snap-on stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $298.99, for a total value of $1,807,095.56. Following the transaction, the vice president now owns 10,493 shares in the company, valued at $3,137,302.07. This trade represents a 36.55 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 52,723 shares of company stock valued at $18,029,670 in the last ninety days. Insiders own 4.10% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on SNA. Roth Mkm boosted their target price on Snap-on from $324.00 to $365.00 and gave the company a "buy" rating in a research note on Tuesday, October 22nd. Tigress Financial boosted their price target on Snap-on from $336.00 to $385.00 and gave the company a "buy" rating in a research note on Friday, October 25th. Barrington Research increased their price objective on Snap-on from $325.00 to $350.00 and gave the stock an "outperform" rating in a report on Thursday, October 17th. Bank of America lifted their target price on shares of Snap-on from $255.00 to $280.00 and gave the company an "underperform" rating in a research note on Friday, October 18th. Finally, Robert W. Baird boosted their target price on shares of Snap-on from $290.00 to $347.00 and gave the stock a "neutral" rating in a research report on Friday, October 18th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the stock. According to MarketBeat, Snap-on presently has an average rating of "Hold" and an average price target of $345.40.

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.