Swiss National Bank Lowers Stock Holdings in Snap-on Incorporated (NYSE:SNA)

Swiss National Bank trimmed its holdings in shares of Snap-on Incorporated (NYSE:SNA - Free Report) by 4.6% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 148,900 shares of the company's stock after selling 7,200 shares during the period. Swiss National Bank owned approximately 0.28% of Snap-on worth $50,549,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. UMB Bank n.a. lifted its holdings in shares of 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 purchasing an additional 31 shares during the last quarter. SBI Securities Co. Ltd. bought a new stake in shares of Snap-on during the fourth quarter valued at approximately $26,000. Migdal Insurance & Financial Holdings Ltd. bought a new stake in shares of Snap-on during the fourth quarter valued at approximately $28,000. Brooklyn Investment Group bought a new stake in shares of Snap-on during the third quarter valued at approximately $39,000. Finally, Private Trust Co. NA increased its position in shares of Snap-on by 38.2% during the third quarter. Private Trust Co. NA now owns 217 shares of the company's stock valued at $63,000 after acquiring an additional 60 shares in the last quarter. 84.88% of the stock is currently owned by hedge funds and other institutional investors.

Snap-on Stock Performance

NYSE:SNA traded up $3.72 during trading hours on Wednesday, reaching $332.98. The company had a trading volume of 343,222 shares, compared to its average volume of 386,229. The company has a current ratio of 4.15, a quick ratio of 3.17 and a debt-to-equity ratio of 0.22. Snap-on Incorporated has a 52 week low of $252.98 and a 52 week high of $373.89. The firm has a market cap of $17.45 billion, a price-to-earnings ratio of 17.08, a PEG ratio of 2.21 and a beta of 0.99. The firm's 50 day moving average price is $341.27 and its 200-day moving average price is $330.74.

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Snap-on (NYSE:SNA - Get Free Report) last posted its earnings results on Thursday, February 6th. The company reported $4.82 EPS 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 period in the prior year, the firm posted $4.75 earnings per share. On average, analysts forecast that Snap-on Incorporated will post 19.79 EPS for the current year.

Snap-on Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Stockholders of record on Monday, February 24th were given a dividend of $2.14 per share. This represents a $8.56 dividend on an annualized basis and a dividend yield of 2.57%. The ex-dividend date was Monday, February 24th. Snap-on's payout ratio is 43.90%.

Insider Activity

In other news, SVP Jesus Arregui sold 6,451 shares of the business's stock in a transaction on 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 position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Aldo John Pagliari sold 6,860 shares of the business'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 sale, the chief financial officer now directly owns 107,096 shares of the company's stock, valued at approximately $36,310,898.80. The trade was a 6.02 % decrease in their position. The disclosure for this sale can be found here. Insiders own 4.10% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on SNA shares. Tigress Financial raised their price target on shares of Snap-on from $385.00 to $390.00 and gave the company a "buy" rating in a research report on Tuesday, March 4th. Barrington Research reissued an "outperform" rating and set a $350.00 price target on shares of Snap-on in a research report on Monday, February 10th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $346.40.

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.