DekaBank Deutsche Girozentrale Grows Stock Position in Snap-On Incorporated (NYSE:SNA)

DekaBank Deutsche Girozentrale increased its stake in shares of Snap-On Incorporated (NYSE:SNA - Free Report) by 0.8% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 419,446 shares of the company's stock after purchasing an additional 3,525 shares during the quarter. DekaBank Deutsche Girozentrale owned 0.80% of Snap-On worth $136,974,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of SNA. SBI Securities Co. Ltd. bought a new position in shares of Snap-On during the 4th quarter valued at approximately $26,000. Keybank National Association OH increased its position in shares of Snap-On by 3.4% during the 4th quarter. Keybank National Association OH now owns 1,480 shares of the company's stock valued at $502,000 after purchasing an additional 49 shares during the last quarter. Proficio Capital Partners LLC bought a new position in shares of Snap-On during the 4th quarter valued at approximately $57,738,000. Larson Financial Group LLC increased its position in shares of Snap-On by 18.0% during the 4th quarter. Larson Financial Group LLC now owns 1,632 shares of the company's stock valued at $554,000 after purchasing an additional 249 shares during the last quarter. Finally, Amundi grew its position in Snap-On by 137.0% in the 4th quarter. Amundi now owns 201,207 shares of the company's stock valued at $68,039,000 after acquiring an additional 116,319 shares during the last quarter. Institutional investors own 84.88% of the company's stock.

Snap-On Stock Down 1.0%

Shares of SNA stock traded down $3.05 during mid-day trading on Friday, hitting $317.65. The stock had a trading volume of 260,950 shares, compared to its average volume of 367,495. Snap-On Incorporated has a 12-month low of $266.55 and a 12-month high of $373.90. The firm has a market capitalization of $16.61 billion, a P/E ratio of 16.63, a price-to-earnings-growth ratio of 2.29 and a beta of 0.76. The firm's 50-day moving average is $317.94 and its two-hundred day moving average is $328.47. The company has a debt-to-equity ratio of 0.21, a current ratio of 4.14 and a quick ratio of 3.18.

Snap-On (NYSE:SNA - Get Free Report) last issued its 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). The firm had revenue of $1.14 billion during the quarter, compared to analysts' expectations of $1.20 billion. Snap-On had a return on equity of 18.60% and a net margin of 21.42%. During the same quarter in the prior year, the company posted $4.91 earnings per share. On average, analysts predict that Snap-On Incorporated will post 19.79 earnings per share for the current fiscal year.

Snap-On Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Tuesday, May 20th were issued a $2.14 dividend. The ex-dividend date was Tuesday, May 20th. This represents a $8.56 dividend on an annualized basis and a yield of 2.69%. Snap-On's dividend payout ratio is presently 44.82%.

Insiders Place Their Bets

In other Snap-On news, CFO Aldo John Pagliari sold 5,553 shares of the business's stock in a transaction dated 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 completion of the transaction, the chief financial officer directly owned 109,560 shares in the company, valued at approximately $35,808,590.40. The trade was a 4.82% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Karen L. Daniel sold 1,090 shares of the business's stock in a transaction dated Thursday, June 5th. The stock was sold at an average price of $319.92, for a total transaction of $348,712.80. Following the completion of the transaction, the director owned 8,030 shares of the company's stock, valued at $2,568,957.60. This represents a 11.95% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 29,815 shares of company stock worth $9,482,532. 3.90% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several brokerages have commented on SNA. Wall Street Zen raised Snap-On from a "hold" rating to a "buy" rating in a research report on Friday, May 16th. Longbow Research raised Snap-On from a "neutral" rating to a "buy" rating and set a $400.00 price objective on the stock in a research report on Monday, March 31st. Robert W. Baird cut their price objective on Snap-On from $349.00 to $320.00 and set a "neutral" rating on the stock in a research report on Monday, April 21st. Finally, Barrington Research reaffirmed an "outperform" rating and issued a $350.00 price objective on shares of Snap-On in a research report on Monday, May 19th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target 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.