US Bancorp DE Has $11.49 Million Position in Snap-on Incorporated (NYSE:SNA)

US Bancorp DE grew its stake in Snap-on Incorporated (NYSE:SNA) by 1.0% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 33,828 shares of the company’s stock after purchasing an additional 336 shares during the period. US Bancorp DE’s holdings in Snap-on were worth $11,485,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in SNA. UMB Bank n.a. boosted its position in Snap-on by 70.5% during the 4th quarter. UMB Bank n.a. now owns 75 shares of the company’s stock worth $25,000 after buying an additional 31 shares during the period. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in Snap-on during the 4th quarter worth approximately $28,000. Brooklyn Investment Group acquired a new stake in Snap-on during the 3rd quarter worth approximately $39,000. Private Trust Co. NA boosted its position in Snap-on by 38.2% during the 3rd quarter. Private Trust Co. NA now owns 217 shares of the company’s stock worth $63,000 after buying an additional 60 shares during the period. Finally, Asset Planning Inc acquired a new stake in Snap-on during the 4th quarter worth approximately $68,000. 84.88% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Separately, Barrington Research reiterated an “outperform” rating and set a $350.00 target price 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 assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $345.40.

Snap-on Stock Down 2.3 %

Snap-on stock opened at $333.45 on Tuesday. The company has a debt-to-equity ratio of 0.22, a quick ratio of 3.17 and a current ratio of 4.15. Snap-on Incorporated has a 52-week low of $252.98 and a 52-week high of $373.89. The firm has a 50 day moving average price of $343.25 and a two-hundred day moving average price of $326.29. The firm has a market cap of $17.47 billion, a price-to-earnings ratio of 17.10, a PEG ratio of 2.21 and a beta of 0.99.

Snap-on (NYSE:SNA) last released its quarterly 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 last year, the business posted $4.75 earnings per share. Equities analysts predict that Snap-on Incorporated will post 19.79 EPS for the current year.

Snap-on Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Stockholders of record on Monday, February 24th will be paid a $2.14 dividend. The ex-dividend date of this dividend is Monday, February 24th. This represents a $8.56 annualized dividend and a dividend yield of 2.57%. Snap-on’s dividend payout ratio is currently 43.90%.

Insider Activity

In other news, CEO Nicholas T. Pinchuk sold 21,783 shares of Snap-on stock in a transaction on Monday, December 9th. The shares were sold at an average price of $354.83, for a total value of $7,729,261.89. Following the completion of the sale, the chief executive officer now owns 769,738 shares in the company, valued at $273,126,134.54. The trade was a 2.75 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, VP June C. Lemerand sold 3,500 shares of Snap-on stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $362.86, for a total transaction of $1,270,010.00. Following the completion of the sale, the vice president now owns 2,289 shares of the company’s stock, valued at $830,586.54. This represents a 60.46 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 45,503 shares of company stock worth $15,906,074 in the last quarter. 4.10% of the stock is owned by corporate insiders.

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.