32,598 Shares in Snap-On Incorporated $SNA Purchased by Kepler Cheuvreux Suisse SA

Key Points

• Kepler Cheuvreux Suisse SA opened a new position in Snap-On by buying 32,598 shares in Q3, valued at about $11.3 million and representing roughly 0.06% of the company.
• Insiders have been net sellers, offloading 46,429 shares worth $17.6 million in the last quarter (including CEO and VP sales); insiders now own about 3.9% of the stock.
• Snap-On has a market cap of about $19.2 billion, recently beat EPS expectations, pays a quarterly dividend of $2.44 (annualized yield ~2.6%), and carries a consensus analyst rating of a “Moderate Buy” with a $377.33 target.

Kepler Cheuvreux Suisse SA bought a new position in Snap-On Incorporated (NYSE:SNA - Free Report) in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 32,598 shares of the company's stock, valued at approximately $11,297,000. Kepler Cheuvreux Suisse SA owned about 0.06% of Snap-On as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Vanguard Group Inc. grew its stake in shares of Snap-On by 1.3% in the second quarter. Vanguard Group Inc. now owns 6,495,475 shares of the company's stock worth $2,021,262,000 after acquiring an additional 80,422 shares during the period. State Street Corp raised its stake in shares of Snap-On by 0.6% in the second quarter. State Street Corp now owns 2,207,840 shares of the company's stock worth $687,036,000 after buying an additional 12,184 shares during the period. Charles Schwab Investment Management Inc. lifted its position in shares of Snap-On by 1.9% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 1,958,005 shares of the company's stock valued at $609,292,000 after buying an additional 36,421 shares in the last quarter. First Trust Advisors LP grew its stake in shares of Snap-On by 1.3% during the 3rd quarter. First Trust Advisors LP now owns 1,916,571 shares of the company's stock valued at $664,149,000 after acquiring an additional 23,863 shares during the period. Finally, Nordea Investment Management AB grew its stake in shares of Snap-On by 3.0% during the 3rd quarter. Nordea Investment Management AB now owns 1,258,712 shares of the company's stock valued at $433,601,000 after acquiring an additional 36,964 shares during the period. Institutional investors own 84.88% of the company's stock.

Insider Transactions at Snap-On

In related news, VP June C. Lemerand sold 1,378 shares of the firm's stock in a transaction on Wednesday, February 25th. The shares were sold at an average price of $387.57, for a total value of $534,071.46. Following the completion of the transaction, the vice president directly owned 2,913 shares of the company's stock, valued at approximately $1,128,991.41. This trade represents a 32.11% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Nicholas T. Pinchuk sold 23,229 shares of the business's stock in a transaction on Monday, February 23rd. The stock was sold at an average price of $383.36, for a total transaction of $8,905,069.44. Following the completion of the sale, the chief executive officer owned 846,562 shares in the company, valued at $324,538,008.32. This represents a 2.67% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 46,429 shares of company stock worth $17,598,523. 3.90% of the stock is owned by insiders.

Snap-On Stock Down 0.9%

SNA opened at $370.28 on Wednesday. The company has a market capitalization of $19.22 billion, a PE ratio of 19.30, a price-to-earnings-growth ratio of 2.58 and a beta of 0.78. The firm has a 50-day simple moving average of $371.63 and a two-hundred day simple moving average of $350.67. The company has a quick ratio of 3.68, a current ratio of 4.79 and a debt-to-equity ratio of 0.20. Snap-On Incorporated has a 52 week low of $289.81 and a 52 week high of $390.13.

Snap-On (NYSE:SNA - Get Free Report) last issued its earnings results on Thursday, February 5th. The company reported $4.94 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.86 by $0.08. The firm had revenue of $1.23 billion for the quarter, compared to analysts' expectations of $1.24 billion. Snap-On had a return on equity of 17.34% and a net margin of 21.44%.The business's revenue was up 2.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $4.82 earnings per share. Analysts forecast that Snap-On Incorporated will post 19.79 earnings per share for the current fiscal year.

Snap-On Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 10th. Shareholders of record on Tuesday, February 24th were paid a $2.44 dividend. The ex-dividend date of this dividend was Tuesday, February 24th. This represents a $9.76 dividend on an annualized basis and a yield of 2.6%. Snap-On's payout ratio is presently 50.86%.

Wall Street Analyst Weigh In

A number of research firms have commented on SNA. Robert W. Baird set a $375.00 target price on shares of Snap-On in a research note on Friday, February 6th. Tigress Financial upped their price target on shares of Snap-On from $405.00 to $445.00 and gave the stock a "buy" rating in a research report on Friday, February 27th. Roth Mkm reissued a "buy" rating and issued a $409.00 price objective (up from $385.00) on shares of Snap-On in a research note on Tuesday, February 10th. Weiss Ratings restated a "buy (b)" rating on shares of Snap-On in a research report on Wednesday, January 21st. Finally, Wall Street Zen cut shares of Snap-On from a "buy" rating to a "hold" rating in a research note on Saturday, February 7th. Five investment 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, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $377.33.

Snap-On 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.

Want to see what other hedge funds are holding SNA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Snap-On Incorporated (NYSE:SNA - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.