BTC Capital Management Inc. Grows Stock Holdings in Snap-On Incorporated $SNA

BTC Capital Management Inc. lifted its stake in Snap-On Incorporated (NYSE:SNA) by 22.3% during the third quarter, HoldingsChannel.com reports. The firm owned 15,186 shares of the company’s stock after purchasing an additional 2,768 shares during the quarter. BTC Capital Management Inc.’s holdings in Snap-On were worth $5,261,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Snap-On by 15.5% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 8,850 shares of the company’s stock worth $2,983,000 after acquiring an additional 1,185 shares during the last quarter. Woodline Partners LP boosted its stake in Snap-On by 40.4% in the 1st quarter. Woodline Partners LP now owns 4,426 shares of the company’s stock worth $1,492,000 after purchasing an additional 1,273 shares in the last quarter. Vanguard Personalized Indexing Management LLC grew its position in Snap-On by 20.6% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 5,505 shares of the company’s stock valued at $1,716,000 after purchasing an additional 939 shares during the last quarter. Sequoia Financial Advisors LLC increased its stake in Snap-On by 93.2% during the 2nd quarter. Sequoia Financial Advisors LLC now owns 1,660 shares of the company’s stock valued at $517,000 after purchasing an additional 801 shares in the last quarter. Finally, Wilmington Savings Fund Society FSB raised its holdings in Snap-On by 102.9% in the second quarter. Wilmington Savings Fund Society FSB now owns 2,842 shares of the company’s stock worth $884,000 after buying an additional 1,441 shares during the last quarter. Institutional investors own 84.88% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on SNA shares. Tigress Financial increased their price target on shares of Snap-On from $395.00 to $405.00 and gave the company a “buy” rating in a report on Tuesday, October 21st. Wall Street Zen downgraded Snap-On from a “buy” rating to a “hold” rating in a research note on Saturday, February 7th. Robert W. Baird set a $375.00 price target on Snap-On in a research note on Friday, February 6th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Snap-On in a research report on Wednesday, January 21st. Finally, Roth Mkm reiterated a “buy” rating and issued a $409.00 price objective (up from $385.00) on shares of Snap-On in a report on Tuesday. Five equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $370.67.

Insider Buying and Selling

In related news, SVP Jesus Arregui sold 3,831 shares of Snap-On stock in a transaction that occurred on Tuesday, November 25th. The stock was sold at an average price of $337.28, for a total transaction of $1,292,119.68. Following the transaction, the senior vice president owned 2,642 shares in the company, valued at approximately $891,093.76. This trade represents a 59.18% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Nicholas T. Pinchuk sold 22,607 shares of the business’s stock in a transaction dated Tuesday, December 2nd. The shares were sold at an average price of $339.15, for a total transaction of $7,667,164.05. Following the completion of the transaction, the chief executive officer owned 826,364 shares in the company, valued at $280,261,350.60. The trade was a 2.66% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 48,036 shares of company stock worth $16,792,028 in the last 90 days. Corporate insiders own 3.90% of the company’s stock.

Snap-On Stock Up 1.5%

NYSE:SNA opened at $384.23 on Friday. The company has a debt-to-equity ratio of 0.20, a quick ratio of 3.68 and a current ratio of 4.79. The stock has a market capitalization of $19.98 billion, a P/E ratio of 20.02, a P/E/G ratio of 2.61 and a beta of 0.81. The company’s 50-day simple moving average is $360.42 and its 200-day simple moving average is $343.33. Snap-On Incorporated has a fifty-two week low of $289.81 and a fifty-two week high of $390.13.

Snap-On (NYSE:SNA) last posted its quarterly earnings results on Thursday, February 5th. The company reported $4.94 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.86 by $0.08. The company had revenue of $1.23 billion during the quarter, compared to analyst estimates of $1.24 billion. Snap-On had a net margin of 21.44% and a return on equity of 17.34%. During the same period last year, the firm posted $4.82 EPS. Snap-On’s revenue for the quarter was up 2.8% compared to the same quarter last year. On average, equities 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 will be paid on Tuesday, March 10th. Shareholders of record on Tuesday, February 24th will be issued a dividend of $2.44 per share. The ex-dividend date of this dividend is Tuesday, February 24th. This represents a $9.76 dividend on an annualized basis and a dividend yield of 2.5%. Snap-On’s dividend payout ratio is presently 50.86%.

Snap-On Company Profile

Snap‑On Incorporated (NYSE: SNA) is a designer, manufacturer and marketer of tools, diagnostic equipment, repair information and shop equipment for professional users. The company’s product range includes hand and power tools, tool storage and cabinets, diagnostic scan tools and software, shop equipment such as lifts and tire changers, and specialized specialty tools for automotive, aviation, marine and industrial applications. Snap‑On also offers information and workflow solutions that combine diagnostic data, repair procedures and parts information to support professional technicians.

Founded in 1920 and headquartered in Kenosha, Wisconsin, Snap‑On has established a long history in the professional tools market.