LGT Group Foundation Acquires 584 Shares of Snap-on Incorporated (NYSE:SNA)

LGT Group Foundation grew its position in Snap-on Incorporated (NYSE:SNA) by 68.6% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 1,435 shares of the company’s stock after buying an additional 584 shares during the period. LGT Group Foundation’s holdings in Snap-on were worth $487,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in SNA. UMB Bank n.a. increased its stake 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 buying an additional 31 shares during the period. SBI Securities Co. Ltd. acquired a new stake in shares of Snap-on in the 4th quarter valued at $26,000. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in shares of Snap-on in the 4th quarter valued at $28,000. Brooklyn Investment Group acquired a new stake in shares of Snap-on in the 3rd quarter valued at $39,000. Finally, Private Trust Co. NA increased its stake 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 buying an additional 60 shares during the period. 84.88% of the stock is owned by institutional investors and hedge funds.

Snap-on Stock Down 2.3 %

Shares of Snap-on stock opened at $333.45 on Tuesday. The company has a quick ratio of 3.17, a current ratio of 4.15 and a debt-to-equity ratio of 0.22. Snap-on Incorporated has a 12 month low of $252.98 and a 12 month high of $373.89. The business has a fifty day simple moving average of $343.25 and a 200 day simple moving average of $326.29. The stock has a market cap of $17.47 billion, a PE ratio of 17.10, a price-to-earnings-growth ratio of 2.21 and a beta of 0.99.

Snap-on (NYSE:SNA) last announced its quarterly earnings data 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 return on equity of 19.20% and a net margin of 21.71%. During the same quarter in the previous year, the firm earned $4.75 earnings per share. Research analysts predict that Snap-on Incorporated will post 19.79 EPS for the current year.

Snap-on Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Monday, February 24th will be issued a dividend of $2.14 per share. The ex-dividend date is Monday, February 24th. This represents a $8.56 annualized dividend and a yield of 2.57%. Snap-on’s dividend payout ratio is presently 43.90%.

Wall Street Analyst Weigh In

Separately, Barrington Research reissued an “outperform” rating and issued a $350.00 target price on shares of Snap-on in a research note on Monday, February 10th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $345.40.

Insiders Place Their Bets

In other Snap-on news, VP June C. Lemerand sold 3,500 shares of Snap-on stock in a transaction dated 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 transaction, the vice president now directly owns 2,289 shares in the company, valued at approximately $830,586.54. The trade was a 60.46 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Nicholas T. Pinchuk sold 21,783 shares of Snap-on stock in a transaction dated 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 owns 769,738 shares in the company, valued at approximately $273,126,134.54. This represents a 2.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 45,503 shares of company stock worth $15,906,074. Corporate insiders own 4.10% of the company’s stock.

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.