Bank of America Corp DE Has $211.50 Million Position in Snap-on Incorporated (NYSE:SNA)

Bank of America Corp DE cut its holdings in Snap-on Incorporated (NYSE:SNA - Free Report) by 1.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 623,006 shares of the company's stock after selling 9,773 shares during the quarter. Bank of America Corp DE owned about 1.19% of Snap-on worth $211,498,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of SNA. Benjamin Edwards Inc. grew its holdings in shares of Snap-on by 1.0% in the 4th quarter. Benjamin Edwards Inc. now owns 159,697 shares of the company's stock worth $54,225,000 after acquiring an additional 1,605 shares during the last quarter. Itau Unibanco Holding S.A. increased its stake in Snap-on by 136.7% in the 4th quarter. Itau Unibanco Holding S.A. now owns 3,908 shares of the company's stock worth $1,327,000 after purchasing an additional 2,257 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec raised its holdings in Snap-on by 28.5% during the 4th quarter. Caisse DE Depot ET Placement DU Quebec now owns 330,948 shares of the company's stock worth $112,350,000 after buying an additional 73,498 shares during the period. Rehmann Capital Advisory Group raised its holdings in Snap-on by 7.2% during the 4th quarter. Rehmann Capital Advisory Group now owns 1,213 shares of the company's stock worth $412,000 after buying an additional 81 shares during the period. Finally, Voleon Capital Management LP acquired a new position in shares of Snap-on in the fourth quarter worth about $331,000. 84.88% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, CEO Nicholas T. Pinchuk sold 22,700 shares of the business's stock in a transaction that occurred on Thursday, March 27th. The stock was sold at an average price of $335.32, for a total value of $7,611,764.00. Following the completion of the sale, the chief executive officer now directly owns 793,932 shares in the company, valued at approximately $266,221,278.24. The trade was a 2.78 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Aldo John Pagliari sold 6,860 shares of Snap-on stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $339.05, for a total transaction of $2,325,883.00. Following the completion of the transaction, the chief financial officer now directly owns 107,096 shares in the company, valued at approximately $36,310,898.80. This represents a 6.02 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 36,011 shares of company stock worth $12,116,859. 3.90% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

SNA has been the topic of a number of recent analyst reports. StockNews.com upgraded shares of Snap-on from a "hold" rating to a "buy" rating in a report on Wednesday. Robert W. Baird cut their target price on shares of Snap-on from $349.00 to $320.00 and set a "neutral" rating on the stock in a research note on Monday, April 21st. Barrington Research reaffirmed an "outperform" rating and issued a $350.00 target price on shares of Snap-on in a research report on Thursday, April 17th. Longbow Research upgraded Snap-on from a "neutral" rating to a "buy" rating and set a $400.00 price target on the stock in a report on Monday, March 31st. Finally, Tigress Financial increased their price objective on Snap-on from $385.00 to $390.00 and gave the stock a "buy" rating in a research note on Tuesday, March 4th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and five have given a buy rating to the company's stock. According to data from MarketBeat, Snap-on presently has a consensus rating of "Moderate Buy" and a consensus target price of $350.83.

Snap-on Stock Down 0.4 %

Shares of NYSE SNA traded down $1.32 during mid-day trading on Friday, reaching $315.63. The company had a trading volume of 158,547 shares, compared to its average volume of 361,067. The stock has a market capitalization of $16.50 billion, a PE ratio of 16.19, a price-to-earnings-growth ratio of 2.21 and a beta of 0.78. Snap-on Incorporated has a twelve month low of $252.98 and a twelve month high of $373.90. The company has a debt-to-equity ratio of 0.22, a quick ratio of 3.17 and a current ratio of 4.15. The stock's 50 day moving average is $323.38 and its 200-day moving average is $338.95.

Snap-on (NYSE:SNA - Get Free Report) last posted its quarterly earnings results on Thursday, April 17th. The company reported $4.51 earnings per share for the quarter, missing analysts' consensus estimates of $4.81 by ($0.30). The firm had revenue of $1.14 billion for the quarter, compared to analysts' expectations of $1.20 billion. Snap-on had a return on equity of 19.20% and a net margin of 21.71%. During the same period last year, the business earned $4.91 earnings per share. As a group, equities analysts anticipate that Snap-on Incorporated will post 19.79 earnings per share for the current fiscal year.

Snap-on Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Tuesday, May 20th will be paid a dividend of $2.14 per share. The ex-dividend date of this dividend is Tuesday, May 20th. This represents a $8.56 annualized dividend and a dividend yield of 2.71%. Snap-on's dividend payout ratio (DPR) is 44.82%.

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.