Keybank National Association OH Grows Stake in Snap-on Incorporated (NYSE:SNA)

Keybank National Association OH grew its holdings in Snap-on Incorporated (NYSE:SNA) by 3.4% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 1,480 shares of the company’s stock after acquiring an additional 49 shares during the quarter. Keybank National Association OH’s holdings in Snap-on were worth $502,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in SNA. UMB Bank n.a. increased its holdings in shares of Snap-on by 70.5% in the 4th 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. purchased a new position in shares of Snap-on in the 4th quarter valued at about $26,000. Migdal Insurance & Financial Holdings Ltd. purchased a new position in shares of Snap-on in the 4th quarter valued at about $28,000. Brooklyn Investment Group purchased a new position in shares of Snap-on in the 3rd quarter valued at about $39,000. Finally, Private Trust Co. NA increased its holdings in shares of Snap-on by 38.2% in the 3rd quarter. Private Trust Co. NA now owns 217 shares of the company’s stock valued at $63,000 after acquiring an additional 60 shares during the last quarter. Hedge funds and other institutional investors own 84.88% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on SNA shares. Tigress Financial increased their price objective on Snap-on from $385.00 to $390.00 and gave the company a “buy” rating in a report on Tuesday, March 4th. Barrington Research reissued an “outperform” rating and issued a $350.00 target price 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 assigned a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $346.40.

Insiders Place Their Bets

In other news, CFO Aldo John Pagliari sold 6,909 shares of the stock in a transaction that occurred on Wednesday, December 18th. The stock was sold at an average price of $347.62, for a total transaction of $2,401,706.58. Following the completion of the transaction, the chief financial officer now directly owns 100,668 shares of the company’s stock, valued at approximately $34,994,210.16. This represents a 6.42 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, SVP Jesus Arregui sold 6,451 shares of the stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $337.81, for a total value of $2,179,212.31. Following the transaction, the senior vice president now directly owns 257 shares of the company’s stock, valued at approximately $86,817.17. This trade represents a 96.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 20,220 shares of company stock valued at $6,906,802. 4.10% of the stock is owned by company insiders.

Snap-on Stock Up 2.4 %

Shares of NYSE SNA opened at $342.36 on Monday. Snap-on Incorporated has a 52-week low of $252.98 and a 52-week high of $373.89. The business has a 50-day moving average price of $342.21 and a 200 day moving average price of $328.33. 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 stock has a market cap of $17.94 billion, a PE ratio of 17.56, a price-to-earnings-growth ratio of 2.21 and a beta of 0.99.

Snap-on (NYSE:SNA) last posted its quarterly earnings data on Thursday, February 6th. The company reported $4.82 earnings per share for the quarter, topping 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 quarter in the previous year, the business posted $4.75 earnings per share. Equities research analysts forecast that Snap-on Incorporated will post 19.79 earnings per share for the current year.

Snap-on Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Monday, February 24th will be given a dividend of $2.14 per share. The ex-dividend date of this dividend is Monday, February 24th. This represents a $8.56 dividend on an annualized basis and a yield of 2.50%. Snap-on’s payout ratio is 43.90%.

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.