Snap-on Incorporated (NYSE:SNA) Shares Purchased by Geode Capital Management LLC

Geode Capital Management LLC raised its stake in Snap-on Incorporated (NYSE:SNA - Free Report) by 1.7% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,641,159 shares of the company's stock after purchasing an additional 27,700 shares during the period. Geode Capital Management LLC owned 3.13% of Snap-on worth $556,022,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in the company. UMB Bank n.a. lifted its position in Snap-on by 70.5% during the fourth quarter. UMB Bank n.a. now owns 75 shares of the company's stock valued at $25,000 after acquiring an additional 31 shares during the last quarter. SBI Securities Co. Ltd. acquired a new stake in shares of Snap-on in the 4th quarter worth $26,000. Migdal Insurance & Financial Holdings Ltd. purchased a new position in Snap-on during the 4th quarter worth $28,000. CoreFirst Bank & Trust purchased a new position in Snap-on during the 4th quarter worth $40,000. Finally, TCTC Holdings LLC increased its position in Snap-on by 41.3% during the 4th quarter. TCTC Holdings LLC now owns 147 shares of the company's stock valued at $50,000 after buying an additional 43 shares in the last quarter. 84.88% of the stock is currently owned by institutional investors.

Insider Activity at Snap-on

In other news, SVP Jesus Arregui sold 6,451 shares of the business's stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $337.81, for a total transaction of $2,179,212.31. Following the completion of the sale, the senior vice president now owns 257 shares of the company's stock, valued at $86,817.17. The trade was a 96.17 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Aldo John Pagliari sold 6,860 shares of the firm's stock in a transaction dated 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 directly owns 107,096 shares in the company, valued at $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 sold a total of 36,011 shares of company stock worth $12,116,859 in the last 90 days. Corporate insiders own 3.90% of the company's stock.

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Wall Street Analyst Weigh In

Several research firms have recently issued reports on SNA. Longbow Research upgraded shares of Snap-on from a "neutral" rating to a "buy" rating and set a $400.00 price objective on the stock in a report on Monday, March 31st. Barrington Research restated an "outperform" rating and set a $350.00 price target on shares of Snap-on in a research note on Monday, February 10th. Finally, Tigress Financial upped their target price on Snap-on from $385.00 to $390.00 and gave the company a "buy" rating in a research report on Tuesday, March 4th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Snap-on currently has an average rating of "Moderate Buy" and a consensus target price of $355.33.

Snap-on Stock Performance

Shares of SNA stock traded up $20.38 on Wednesday, hitting $329.77. The company had a trading volume of 583,883 shares, compared to its average volume of 349,234. Snap-on Incorporated has a twelve month low of $252.98 and a twelve month high of $373.90. 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 firm has a market cap of $17.29 billion, a P/E ratio of 16.91, a price-to-earnings-growth ratio of 2.21 and a beta of 0.84. The company has a 50-day moving average price of $334.56 and a 200-day moving average price of $336.19.

Snap-on (NYSE:SNA - Get Free Report) last announced its quarterly earnings results on Thursday, February 6th. The company reported $4.82 earnings per share (EPS) 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 prior year, the firm earned $4.75 earnings per share. As a group, equities research analysts predict that Snap-on Incorporated will post 19.79 earnings per share for the current fiscal year.

Snap-on Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, March 10th. Stockholders of record on Monday, February 24th were paid a dividend of $2.14 per share. This represents a $8.56 annualized dividend and a dividend yield of 2.60%. The ex-dividend date was Monday, February 24th. Snap-on's payout ratio is currently 43.90%.

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.