Intrust Bank NA Raises Stock Position in Snap-on Incorporated (NYSE:SNA)

Intrust Bank NA raised its position in Snap-on Incorporated (NYSE:SNA) by 6.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,335 shares of the company’s stock after purchasing an additional 201 shares during the quarter. Intrust Bank NA’s holdings in Snap-on were worth $1,132,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. UMB Bank n.a. increased its position in shares of Snap-on by 70.5% during the fourth 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 during the 4th quarter worth approximately $26,000. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in Snap-on in the 4th quarter valued at approximately $28,000. Brooklyn Investment Group purchased a new stake in Snap-on in the third quarter valued at approximately $39,000. Finally, CoreFirst Bank & Trust acquired a new position in Snap-on during the fourth quarter worth $40,000. Hedge funds and other institutional investors own 84.88% of the company’s stock.

Analyst Ratings Changes

Several research firms recently issued reports on SNA. Tigress Financial increased their target price on Snap-on from $385.00 to $390.00 and gave the stock a “buy” rating in a research note on Tuesday, March 4th. Barrington Research reissued an “outperform” rating and set a $350.00 price target 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 issued a hold rating and three have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $346.40.

Insider Activity at Snap-on

In other news, CEO Nicholas T. Pinchuk sold 22,700 shares of the company’s stock in a transaction on Thursday, March 27th. The shares were sold at an average price of $335.32, for a total value of $7,611,764.00. Following the completion of the transaction, the chief executive officer now owns 793,932 shares in the company, valued at approximately $266,221,278.24. This represents a 2.78 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Aldo John Pagliari sold 6,860 shares of Snap-on stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $339.05, for a total transaction of $2,325,883.00. Following the sale, the chief financial officer now owns 107,096 shares in the company, valued at $36,310,898.80. This represents a 6.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 36,011 shares of company stock valued at $12,116,859 over the last quarter. 3.90% of the stock is owned by insiders.

Snap-on Price Performance

SNA stock opened at $329.09 on Friday. The business’s 50-day moving average is $340.12 and its two-hundred day moving average is $333.51. 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 firm has a market capitalization of $17.25 billion, a P/E ratio of 16.88, a P/E/G ratio of 2.21 and a beta of 0.99. Snap-on Incorporated has a 1 year low of $252.98 and a 1 year high of $373.90.

Snap-on (NYSE:SNA) last issued its quarterly earnings results on Thursday, February 6th. The company reported $4.82 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 period in the prior year, the company earned $4.75 earnings per share. Analysts anticipate that Snap-on Incorporated will post 19.79 earnings per share for the current fiscal year.

Snap-on Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Monday, February 24th were paid a dividend of $2.14 per share. The ex-dividend date was Monday, February 24th. This represents a $8.56 dividend on an annualized basis and a dividend yield of 2.60%. Snap-on’s payout ratio is currently 43.90%.

Snap-on 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.