Amalgamated Bank Boosts Stake in Snap-on Incorporated (NYSE:SNA)

Amalgamated Bank raised its holdings in shares of Snap-on Incorporated (NYSE:SNA) by 1.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 11,149 shares of the company’s stock after buying an additional 180 shares during the period. Amalgamated Bank’s holdings in Snap-on were worth $3,785,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the business. State Street Corp boosted its holdings in Snap-on by 0.5% during the 3rd quarter. State Street Corp now owns 2,115,973 shares of the company’s stock valued at $613,019,000 after acquiring an additional 10,645 shares during the period. Charles Schwab Investment Management Inc. lifted its position in shares of Snap-on by 3.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,728,792 shares of the company’s stock worth $500,848,000 after purchasing an additional 56,266 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of Snap-on by 4.5% during the third quarter. Geode Capital Management LLC now owns 1,613,459 shares of the company’s stock valued at $466,199,000 after purchasing an additional 69,590 shares during the period. Nordea Investment Management AB grew its holdings in shares of Snap-on by 12.8% in the fourth quarter. Nordea Investment Management AB now owns 1,128,317 shares of the company’s stock worth $384,813,000 after purchasing an additional 127,859 shares during the last quarter. Finally, Pacer Advisors Inc. increased its stake in Snap-on by 9.4% in the 3rd quarter. Pacer Advisors Inc. now owns 907,655 shares of the company’s stock worth $262,957,000 after buying an additional 78,184 shares during the period. Institutional investors own 84.88% of the company’s stock.

Snap-on Price Performance

Shares of SNA stock opened at $341.00 on Friday. The stock has a market capitalization of $17.87 billion, a price-to-earnings ratio of 17.49, a P/E/G ratio of 2.21 and a beta of 0.99. 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 twelve month low of $252.98 and a twelve month high of $373.89. The stock has a fifty day simple moving average of $343.30 and a two-hundred day simple moving average of $325.04.

Snap-on (NYSE:SNA) last issued its earnings results on Thursday, February 6th. The company reported $4.82 earnings per share (EPS) for the quarter, topping the consensus estimate 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 quarter in the previous year, the business posted $4.75 EPS. On average, analysts predict that Snap-on Incorporated will post 19.79 EPS for the current fiscal year.

Snap-on Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Monday, February 24th will be issued a dividend of $2.14 per share. This represents a $8.56 annualized dividend and a yield of 2.51%. The ex-dividend date of this dividend is Monday, February 24th. Snap-on’s payout ratio is 43.90%.

Insider Buying and Selling

In other news, CEO Nicholas T. Pinchuk sold 21,783 shares of Snap-on stock in a transaction on Monday, December 9th. The stock was 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 in the company, valued at approximately $273,126,134.54. This trade represents a 2.75 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, VP June C. Lemerand sold 3,500 shares of the company’s stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $362.86, for a total value of $1,270,010.00. Following the sale, the vice president now owns 2,289 shares of the company’s stock, valued at $830,586.54. This trade represents a 60.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 45,503 shares of company stock valued at $15,906,074 over the last 90 days. Corporate insiders own 4.10% of the company’s stock.

Analysts Set New Price Targets

Separately, Barrington Research reissued an “outperform” rating and issued a $350.00 price objective on shares of Snap-on in a research report on Monday, February 10th. One research 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. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $345.40.

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.