Mirae Asset Global Investments Co. Ltd. Has $14.91 Million Stake in Snap-on Incorporated (NYSE:SNA)

Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of Snap-on Incorporated (NYSE:SNA) by 19.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 43,401 shares of the company’s stock after buying an additional 7,149 shares during the period. Mirae Asset Global Investments Co. Ltd. owned about 0.08% of Snap-on worth $14,910,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of SNA. Czech National Bank increased its stake in Snap-on by 6.8% in the third quarter. Czech National Bank now owns 10,732 shares of the company’s stock valued at $3,109,000 after acquiring an additional 685 shares during the period. Brookstone Capital Management boosted its holdings in Snap-on by 25.4% during the third quarter. Brookstone Capital Management now owns 1,116 shares of the company’s stock valued at $323,000 after purchasing an additional 226 shares in the last quarter. Jessup Wealth Management Inc bought a new stake in shares of Snap-on in the 3rd quarter valued at approximately $282,000. JGP Wealth Management LLC raised its holdings in shares of Snap-on by 4.1% in the 3rd quarter. JGP Wealth Management LLC now owns 3,206 shares of the company’s stock worth $929,000 after buying an additional 127 shares in the last quarter. Finally, Livforsakringsbolaget Skandia Omsesidigt lifted its position in shares of Snap-on by 19.8% during the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 29,600 shares of the company’s stock worth $8,572,000 after buying an additional 4,900 shares during the period. Institutional investors and hedge funds own 84.88% of the company’s stock.

Snap-on Price Performance

SNA opened at $339.47 on Friday. The company has a debt-to-equity ratio of 0.22, a current ratio of 4.18 and a quick ratio of 3.14. The stock has a market capitalization of $17.83 billion, a P/E ratio of 17.47, a price-to-earnings-growth ratio of 2.23 and a beta of 0.99. The company’s 50 day simple moving average is $348.45 and its 200-day simple moving average is $318.53. Snap-on Incorporated has a one year low of $252.98 and a one year high of $373.89.

Snap-on (NYSE:SNA) last released its earnings results on Thursday, February 6th. The company reported $4.82 EPS for the quarter, beating the consensus estimate of $4.78 by $0.04. Snap-on had a return on equity of 19.44% and a net margin of 22.13%. During the same period in the previous year, the company posted $4.75 earnings per share. Sell-side analysts anticipate that Snap-on Incorporated will post 19.05 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Snap-on news, CEO Nicholas T. Pinchuk sold 21,783 shares of the firm’s stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $354.83, for a total value of $7,729,261.89. Following the transaction, the chief executive officer now directly owns 769,738 shares of the company’s stock, valued at approximately $273,126,134.54. This trade represents a 2.75 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP June C. Lemerand sold 3,500 shares of Snap-on stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $362.86, for a total transaction of $1,270,010.00. Following the sale, the vice president now directly owns 2,289 shares of the company’s stock, valued at $830,586.54. This represents a 60.46 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 32,192 shares of company stock worth $11,400,978 over the last three months. 4.10% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the company. Bank of America increased their price objective on Snap-on from $255.00 to $280.00 and gave the stock an “underperform” rating in a research note on Friday, October 18th. Robert W. Baird lifted their price target on shares of Snap-on from $290.00 to $347.00 and gave the company a “neutral” rating in a report on Friday, October 18th. Roth Mkm upped their price objective on shares of Snap-on from $324.00 to $365.00 and gave the stock a “buy” rating in a research note on Tuesday, October 22nd. Barrington Research reiterated an “outperform” rating and issued a $360.00 target price on shares of Snap-on in a research note on Monday. Finally, Tigress Financial increased their price target on Snap-on from $336.00 to $385.00 and gave the stock a “buy” rating in a research report on Friday, October 25th. One 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. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $347.40.

About Snap-on

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.