Snap-on Incorporated (NYSE:SNA) Shares Acquired by BTC Capital Management Inc.

BTC Capital Management Inc. increased its position in Snap-on Incorporated (NYSE:SNA - Free Report) by 14.2% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 10,320 shares of the company's stock after buying an additional 1,281 shares during the quarter. BTC Capital Management Inc.'s holdings in Snap-on were worth $3,478,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. SBI Securities Co. Ltd. purchased a new position in shares of Snap-on in the fourth quarter worth $26,000. Migdal Insurance & Financial Holdings Ltd. purchased a new position in shares of Snap-on in the fourth quarter worth $28,000. CoreFirst Bank & Trust bought a new stake in Snap-on in the fourth quarter valued at $40,000. TCTC Holdings LLC boosted its holdings in Snap-on by 41.3% in the fourth quarter. TCTC Holdings LLC now owns 147 shares of the company's stock valued at $50,000 after acquiring an additional 43 shares in the last quarter. Finally, Mizuho Bank Ltd. bought a new stake in Snap-on in the fourth quarter valued at $61,000. 84.88% of the stock is owned by hedge funds and other institutional investors.

Snap-on Stock Performance

Snap-on stock traded down $4.22 during midday trading on Monday, hitting $316.53. The stock had a trading volume of 363,713 shares, compared to its average volume of 364,140. The firm's fifty day moving average is $321.01 and its two-hundred day moving average is $336.92. The company has a market capitalization of $16.55 billion, a PE ratio of 16.23, a P/E/G ratio of 2.21 and a beta of 0.78. Snap-on Incorporated has a 52-week low of $252.98 and a 52-week high of $373.90. The company has a current ratio of 4.15, a quick ratio of 3.17 and a debt-to-equity ratio of 0.22.

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 the consensus estimate of $4.81 by ($0.30). Snap-on had a return on equity of 19.20% and a net margin of 21.71%. The business had revenue of $1.14 billion during the quarter, compared to the consensus estimate of $1.20 billion. During the same quarter in the previous year, the company earned $4.91 earnings per share. On average, research analysts forecast that Snap-on Incorporated will post 19.79 EPS for the current year.

Snap-on Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Tuesday, May 20th will be paid a $2.14 dividend. The ex-dividend date is Tuesday, May 20th. This represents a $8.56 annualized dividend and a yield of 2.70%. Snap-on's payout ratio is 44.82%.

Insider Activity

In related news, CFO Aldo John Pagliari sold 5,553 shares of the firm's stock in a transaction on Thursday, May 15th. The stock was sold at an average price of $326.84, for a total value of $1,814,942.52. Following the completion of the sale, the chief financial officer now directly owns 109,560 shares in the company, 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 filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Nicholas T. Pinchuk sold 22,700 shares of the stock in a transaction 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 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 disclosure for this sale can be found here. Corporate insiders own 3.90% of the company's stock.

Analysts Set New Price Targets

Several research firms recently weighed in on SNA. Robert W. Baird cut their price target on shares of Snap-on from $349.00 to $320.00 and set a "neutral" rating on the stock in a report on Monday, April 21st. Barrington Research restated an "outperform" rating and set a $350.00 target price on shares of Snap-on in a 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 price target on the stock in a research note on Monday, March 31st. Wall Street Zen raised Snap-on from a "hold" rating to a "buy" rating in a research report on Friday, May 16th. Finally, Tigress Financial upped their price target on shares of Snap-on from $385.00 to $390.00 and gave the company a "buy" rating in a research report on Tuesday, March 4th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and five have issued a buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $350.83.

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.