Cibc World Markets Corp Has $2.82 Million Stock Position in Snap-on Incorporated (NYSE:SNA)

Cibc World Markets Corp raised its holdings in Snap-on Incorporated (NYSE:SNA) by 16.1% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 8,301 shares of the company’s stock after buying an additional 1,153 shares during the quarter. Cibc World Markets Corp’s holdings in Snap-on were worth $2,818,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the company. SouthState Corp lifted its position in shares of Snap-on by 1.0% in the 4th quarter. SouthState Corp now owns 22,025 shares of the company’s stock worth $7,477,000 after acquiring an additional 221 shares during the period. Signature Wealth Management Group lifted its position in shares of Snap-on by 0.9% in the 4th quarter. Signature Wealth Management Group now owns 4,307 shares of the company’s stock worth $1,462,000 after acquiring an additional 39 shares during the period. Corient Private Wealth LLC lifted its position in shares of Snap-on by 3.5% in the 4th quarter. Corient Private Wealth LLC now owns 22,987 shares of the company’s stock worth $7,803,000 after acquiring an additional 783 shares during the period. Gitterman Wealth Management LLC bought a new stake in shares of Snap-on in the 4th quarter worth approximately $227,000. Finally, Envestnet Portfolio Solutions Inc. lifted its position in shares of Snap-on by 0.3% in the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 65,095 shares of the company’s stock worth $22,098,000 after acquiring an additional 166 shares during the period. Institutional investors own 84.88% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have commented on the company. Barrington Research reiterated an “outperform” rating and issued a $350.00 price objective on shares of Snap-on in a research report on Monday, February 10th. Tigress Financial raised their target price on Snap-on from $385.00 to $390.00 and gave the stock a “buy” rating in a research report on Tuesday, March 4th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, Snap-on presently has an average rating of “Hold” and a consensus price target of $346.40.

Insider Buying and Selling at Snap-on

In other news, SVP Jesus Arregui sold 6,451 shares of Snap-on stock in a transaction 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 completion of the sale, 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Aldo John Pagliari sold 6,860 shares of Snap-on stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $339.05, for a total value of $2,325,883.00. Following the completion of the sale, the chief financial officer now directly owns 107,096 shares of the company’s stock, valued at $36,310,898.80. This trade represents a 6.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 4.10% of the company’s stock.

Snap-on Price Performance

Snap-on stock opened at $330.03 on Friday. The company has a debt-to-equity ratio of 0.22, a current ratio of 4.15 and a quick ratio of 3.17. The company has a market capitalization of $17.30 billion, a PE ratio of 16.92, a price-to-earnings-growth ratio of 2.21 and a beta of 0.99. Snap-on Incorporated has a one year low of $252.98 and a one year high of $373.90. The business has a 50 day simple moving average of $341.08 and a 200 day simple moving average of $330.75.

Snap-on (NYSE:SNA) last issued its quarterly earnings data on Thursday, February 6th. The company reported $4.82 earnings per share (EPS) for the quarter, beating the consensus estimate 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 period in the prior year, the business posted $4.75 earnings per share. On average, sell-side analysts forecast that Snap-on Incorporated will post 19.79 EPS for the current fiscal year.

Snap-on Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Monday, February 24th were given a $2.14 dividend. The ex-dividend date was Monday, February 24th. This represents a $8.56 annualized dividend and a yield of 2.59%. Snap-on’s payout ratio is 43.90%.

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.