AIA Group Ltd Purchases Shares of 2,263 Snap-on Incorporated (NYSE:SNA)

AIA Group Ltd purchased a new stake in Snap-on Incorporated (NYSE:SNA) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 2,263 shares of the company’s stock, valued at approximately $654,000.

Several other large investors have also recently bought and sold shares of the stock. CapWealth Advisors LLC raised its holdings in Snap-on by 2.8% in the 4th quarter. CapWealth Advisors LLC now owns 44,513 shares of the company’s stock valued at $12,857,000 after acquiring an additional 1,201 shares during the period. Federated Hermes Inc. grew its position in shares of Snap-on by 5.1% during the 4th quarter. Federated Hermes Inc. now owns 17,512 shares of the company’s stock worth $5,058,000 after purchasing an additional 849 shares in the last quarter. Daiwa Securities Group Inc. grew its position in shares of Snap-on by 5.9% during the 4th quarter. Daiwa Securities Group Inc. now owns 4,737 shares of the company’s stock worth $1,368,000 after purchasing an additional 265 shares in the last quarter. Flputnam Investment Management Co. grew its position in shares of Snap-on by 18.9% during the 4th quarter. Flputnam Investment Management Co. now owns 11,064 shares of the company’s stock worth $3,196,000 after purchasing an additional 1,755 shares in the last quarter. Finally, Waldron Private Wealth LLC acquired a new position in shares of Snap-on during the 4th quarter worth approximately $204,000. 84.88% of the stock is owned by institutional investors.

Insider Activity

In other news, VP Richard Thomas Miller sold 704 shares of the firm’s stock in a transaction on Thursday, March 28th. The shares were sold at an average price of $298.16, for a total transaction of $209,904.64. Following the completion of the transaction, the vice president now owns 3,213 shares of the company’s stock, valued at $957,988.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CFO Aldo John Pagliari sold 7,522 shares of Snap-on stock in a transaction on Tuesday, February 27th. The shares were sold at an average price of $271.94, for a total transaction of $2,045,532.68. Following the completion of the transaction, the chief financial officer now owns 95,661 shares of the company’s stock, valued at $26,014,052.34. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, VP Richard Thomas Miller sold 704 shares of Snap-on stock in a transaction on Thursday, March 28th. The stock was sold at an average price of $298.16, for a total transaction of $209,904.64. Following the transaction, the vice president now directly owns 3,213 shares of the company’s stock, valued at approximately $957,988.08. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 47,368 shares of company stock valued at $13,399,449. Insiders own 4.10% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on SNA. Tigress Financial restated a “buy” rating and set a $336.00 target price on shares of Snap-on in a research report on Friday, February 16th. Barrington Research restated an “outperform” rating and set a $325.00 target price on shares of Snap-on in a research report on Monday, April 15th. Robert W. Baird decreased their target price on shares of Snap-on from $295.00 to $282.00 and set a “neutral” rating on the stock in a research report on Friday. Finally, Roth Mkm restated a “buy” rating and set a $324.00 target price on shares of Snap-on in a research report on Thursday. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $301.40.

Snap-on Stock Performance

NYSE SNA opened at $268.80 on Friday. Snap-on Incorporated has a 1 year low of $245.73 and a 1 year high of $298.49. The company has a current ratio of 3.82, a quick ratio of 2.81 and a debt-to-equity ratio of 0.23. The firm has a market capitalization of $14.20 billion, a price-to-earnings ratio of 14.10, a P/E/G ratio of 1.87 and a beta of 0.99. The firm’s 50 day simple moving average is $283.78 and its 200 day simple moving average is $278.27.

Snap-on (NYSE:SNA) last issued its earnings results on Thursday, April 18th. The company reported $4.75 earnings per share for the quarter, beating analysts’ consensus estimates of $4.66 by $0.09. Snap-on had a net margin of 21.69% and a return on equity of 20.46%. The firm had revenue of $1.18 billion for the quarter, compared to analyst estimates of $1.20 billion. During the same quarter last year, the business posted $4.60 earnings per share. The company’s quarterly revenue was down .1% on a year-over-year basis. As a group, research analysts expect that Snap-on Incorporated will post 19.22 earnings per share for the current fiscal year.

Snap-on Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, March 11th. Stockholders of record on Monday, February 26th were paid a dividend of $1.86 per share. This represents a $7.44 annualized dividend and a dividend yield of 2.77%. The ex-dividend date was Friday, February 23rd. Snap-on’s payout ratio is currently 39.03%.

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.