Allspring Global Investments Holdings LLC Acquires 1,506 Shares of Snap-On Incorporated (NYSE:SNA)

Allspring Global Investments Holdings LLC raised its holdings in Snap-On Incorporated (NYSE:SNA - Free Report) by 8.4% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 19,457 shares of the company's stock after purchasing an additional 1,506 shares during the quarter. Allspring Global Investments Holdings LLC's holdings in Snap-On were worth $6,607,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently bought and sold shares of the company. Alpine Bank Wealth Management bought a new position in Snap-On in the 1st quarter valued at $25,000. SBI Securities Co. Ltd. purchased a new position in shares of Snap-On during the 4th quarter valued at $26,000. Golden State Wealth Management LLC increased its holdings in Snap-On by 421.1% in the 1st quarter. Golden State Wealth Management LLC now owns 99 shares of the company's stock worth $33,000 after acquiring an additional 80 shares during the last quarter. Opal Wealth Advisors LLC bought a new stake in Snap-On in the 1st quarter valued at about $35,000. Finally, CoreFirst Bank & Trust purchased a new stake in Snap-On during the fourth quarter valued at about $40,000. Institutional investors own 84.88% of the company's stock.

Insider Activity at Snap-On

In related news, CFO Aldo John Pagliari sold 5,553 shares of the firm's stock in a transaction that occurred on Thursday, May 15th. The shares were sold at an average price of $326.84, for a total value of $1,814,942.52. Following the sale, the chief financial officer directly owned 109,560 shares of the company's stock, valued at $35,808,590.40. This trade represents a 4.82% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Nicholas T. Pinchuk sold 23,172 shares of the firm's stock in a transaction that occurred on Monday, June 2nd. The shares were sold at an average price of $315.85, for a total transaction of $7,318,876.20. Following the completion of the sale, the chief executive officer directly owned 804,510 shares in the company, valued at $254,104,483.50. This represents a 2.80% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 29,815 shares of company stock valued at $9,482,532 over the last three months. 3.90% of the stock is owned by corporate insiders.

Snap-On Price Performance

Shares of Snap-On stock traded down $4.66 on Monday, reaching $316.97. The stock had a trading volume of 245,025 shares, compared to its average volume of 368,690. Snap-On Incorporated has a 1 year low of $255.26 and a 1 year high of $373.90. The company has a market cap of $16.57 billion, a P/E ratio of 16.60, a price-to-earnings-growth ratio of 2.30 and a beta of 0.76. The company has a current ratio of 4.14, a quick ratio of 3.18 and a debt-to-equity ratio of 0.21. The business's 50 day moving average is $317.53 and its two-hundred day moving average is $328.98.

Snap-On (NYSE:SNA - Get Free Report) last announced its 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 company had revenue of $1.14 billion during the quarter, compared to analysts' expectations of $1.20 billion. Snap-On had a net margin of 21.42% and a return on equity of 18.60%. During the same period in the prior year, the business earned $4.91 earnings per share. As a group, research analysts anticipate that Snap-On Incorporated will post 19.79 EPS for the current year.

Snap-On Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Tuesday, May 20th were paid a $2.14 dividend. This represents a $8.56 dividend on an annualized basis and a yield of 2.70%. The ex-dividend date of this dividend was Tuesday, May 20th. Snap-On's dividend payout ratio is currently 44.82%.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. Wall Street Zen upgraded shares of Snap-On from a "hold" rating to a "buy" rating in a research report on Friday, May 16th. Barrington Research reiterated an "outperform" rating and set a $350.00 target price on shares of Snap-On in a research report on Monday, May 19th. Longbow Research upgraded shares of Snap-On from a "neutral" rating to a "buy" rating and set a $400.00 target price for the company in a research report on Monday, March 31st. Finally, Robert W. Baird cut their target price on shares of Snap-On from $349.00 to $320.00 and set a "neutral" rating for the company in a research report on Monday, April 21st. One research analyst has rated the stock with a sell rating, one has given a hold rating and five have given a buy rating to the company's stock. According to data from MarketBeat, Snap-On currently has a consensus rating of "Moderate Buy" and a consensus target price of $350.83.

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.