Czech National Bank Increases Stake in Snap-On Incorporated $SNA

Key Points

• The Czech National Bank increased its stake in Snap-On Incorporated by 6.2%, now holding 12,781 shares valued at approximately $3.98 million.
• Insider activity showed significant sales, with CEO Nicholas T. Pinchuk selling 23,042 shares for about $7.39 million, resulting in a 2.75% decrease in his holdings.
• Recent analyst ratings on Snap-On suggest a consensus of Moderate Buy with a price target averaging $357.00 following various projections from multiple firms.

Czech National Bank grew its holdings in shares of Snap-On Incorporated (NYSE:SNA - Free Report) by 6.2% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 12,781 shares of the company's stock after buying an additional 748 shares during the quarter. Czech National Bank's holdings in Snap-On were worth $3,977,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Janus Henderson Group PLC raised its holdings in shares of Snap-On by 2.1% in the fourth quarter. Janus Henderson Group PLC now owns 5,849 shares of the company's stock valued at $1,986,000 after purchasing an additional 120 shares during the last quarter. Lazard Asset Management LLC grew its position in Snap-On by 14.4% during the fourth quarter. Lazard Asset Management LLC now owns 507 shares of the company's stock valued at $171,000 after buying an additional 64 shares during the period. Royal Bank of Canada grew its position in Snap-On by 0.3% during the fourth quarter. Royal Bank of Canada now owns 101,622 shares of the company's stock valued at $34,499,000 after buying an additional 324 shares during the period. Toronto Dominion Bank grew its position in Snap-On by 4.3% during the fourth quarter. Toronto Dominion Bank now owns 18,426 shares of the company's stock valued at $6,255,000 after buying an additional 761 shares during the period. Finally, Vident Advisory LLC boosted its position in Snap-On by 19.7% during the fourth quarter. Vident Advisory LLC now owns 6,200 shares of the company's stock worth $2,105,000 after purchasing an additional 1,022 shares during the period. 84.88% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. Tigress Financial increased their price target on shares of Snap-On from $390.00 to $395.00 and gave the stock a "buy" rating in a report on Friday, August 29th. Bank of America raised their target price on shares of Snap-On from $265.00 to $285.00 and gave the stock an "underperform" rating in a report on Friday, July 18th. Barrington Research restated an "outperform" rating and issued a $350.00 target price on shares of Snap-On in a report on Tuesday, July 15th. Finally, Robert W. Baird lifted their price target on shares of Snap-On from $329.00 to $347.00 and gave the company a "neutral" rating in a report on Friday, July 18th. Four 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. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $357.00.

Snap-On Stock Down 0.5%

Shares of SNA traded down $1.77 during trading hours on Friday, hitting $337.72. The company had a trading volume of 989,329 shares, compared to its average volume of 241,510. The firm has a fifty day moving average price of $326.79 and a 200-day moving average price of $322.98. The company has a debt-to-equity ratio of 0.21, a quick ratio of 3.42 and a current ratio of 4.48. The stock has a market capitalization of $17.62 billion, a price-to-earnings ratio of 18.01, a P/E/G ratio of 2.36 and a beta of 0.77. Snap-On Incorporated has a 52-week low of $281.64 and a 52-week high of $373.89.

Snap-On (NYSE:SNA - Get Free Report) last issued its earnings results on Thursday, July 17th. The company reported $4.72 earnings per share for the quarter, topping analysts' consensus estimates of $4.61 by $0.11. Snap-On had a return on equity of 18.02% and a net margin of 20.98%.The business had revenue of $1.18 billion during the quarter, compared to analyst estimates of $1.16 billion. During the same quarter in the previous year, the firm earned $5.07 EPS. Snap-On's revenue was up .0% on a year-over-year basis. On average, equities research analysts forecast that Snap-On Incorporated will post 19.79 EPS for the current fiscal year.

Snap-On Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 10th. Shareholders of record on Tuesday, August 19th were given a $2.14 dividend. The ex-dividend date of this dividend was Tuesday, August 19th. This represents a $8.56 dividend on an annualized basis and a yield of 2.5%. Snap-On's payout ratio is 45.65%.

Insider Transactions at Snap-On

In other Snap-On news, CEO Nicholas T. Pinchuk sold 23,042 shares of the business's stock in a transaction dated Monday, August 11th. The stock was sold at an average price of $320.88, for a total transaction of $7,393,716.96. Following the completion of the sale, the chief executive officer directly owned 815,219 shares in the company, valued at $261,587,472.72. The trade was a 2.75% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Aldo John Pagliari sold 4,731 shares of the business's stock in a transaction dated Thursday, August 14th. The shares were sold at an average price of $327.38, for a total value of $1,548,834.78. Following the sale, the chief financial officer owned 111,667 shares of the company's stock, valued at approximately $36,557,542.46. This represents a 4.06% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 27,898 shares of company stock valued at $8,983,203. 3.90% of the stock is owned by insiders.

Snap-On Company 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.