Federation des caisses Desjardins du Quebec Boosts Stock Position in Snap-On Incorporated $SNA

Federation des caisses Desjardins du Quebec lifted its stake in shares of Snap-On Incorporated (NYSE:SNA - Free Report) by 65.6% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,352 shares of the company's stock after acquiring an additional 1,328 shares during the period. Federation des caisses Desjardins du Quebec's holdings in Snap-On were worth $1,130,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Alpine Bank Wealth Management acquired a new stake in shares of Snap-On during the first quarter valued at $25,000. Golden State Wealth Management LLC boosted its stake in shares of Snap-On by 421.1% during the first quarter. Golden State Wealth Management LLC now owns 99 shares of the company's stock valued at $33,000 after acquiring an additional 80 shares during the last quarter. Cullen Frost Bankers Inc. boosted its stake in shares of Snap-On by 248.3% during the first quarter. Cullen Frost Bankers Inc. now owns 101 shares of the company's stock valued at $34,000 after acquiring an additional 72 shares during the last quarter. Opal Wealth Advisors LLC acquired a new stake in shares of Snap-On during the first quarter valued at $35,000. Finally, ORG Partners LLC boosted its stake in shares of Snap-On by 150.8% during the first quarter. ORG Partners LLC now owns 158 shares of the company's stock valued at $54,000 after acquiring an additional 95 shares during the last quarter. Institutional investors and hedge funds own 84.88% of the company's stock.

Snap-On Trading Up 2.4%

Shares of NYSE SNA traded up $7.72 during midday trading on Thursday, hitting $331.88. The stock had a trading volume of 218,713 shares, compared to its average volume of 365,609. The company has a market capitalization of $17.31 billion, a price-to-earnings ratio of 17.70, a PEG ratio of 2.24 and a beta of 0.77. Snap-On Incorporated has a 1-year low of $273.08 and a 1-year high of $373.89. The company has a quick ratio of 3.42, a current ratio of 4.48 and a debt-to-equity ratio of 0.21. The company has a fifty day moving average price of $324.47 and a 200 day moving average price of $323.04.

Snap-On (NYSE:SNA - Get Free Report) last released its quarterly earnings data on Thursday, July 17th. The company reported $4.72 earnings per share for the quarter, beating the consensus estimate of $4.61 by $0.11. The business had revenue of $1.18 billion for the quarter, compared to analyst estimates of $1.16 billion. Snap-On had a return on equity of 18.02% and a net margin of 20.98%.The company's revenue was up .0% compared to the same quarter last year. During the same period in the previous year, the company posted $5.07 EPS. On average, analysts predict that Snap-On Incorporated will post 19.79 earnings per share for the current year.

Snap-On Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 10th. Investors of record on Tuesday, August 19th were issued a dividend of $2.14 per share. This represents a $8.56 annualized dividend and a dividend yield of 2.6%. The ex-dividend date was Tuesday, August 19th. Snap-On's dividend payout ratio (DPR) is presently 45.65%.

Insider Activity

In related news, CFO Aldo John Pagliari sold 125 shares of the firm's stock in a transaction dated Friday, August 15th. The stock was sold at an average price of $325.21, for a total transaction of $40,651.25. Following the sale, the chief financial officer directly owned 111,721 shares in the company, valued at approximately $36,332,786.41. This trade represents a 0.11% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Nicholas T. Pinchuk sold 23,042 shares of the firm's stock in a transaction dated Monday, August 11th. The shares were sold at an average price of $320.88, for a total value of $7,393,716.96. Following the sale, the chief executive officer owned 815,219 shares in the company, valued at approximately $261,587,472.72. The trade was a 2.75% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 27,898 shares of company stock worth $8,983,203. Company insiders own 3.90% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts recently commented on SNA shares. Barrington Research reaffirmed an "outperform" rating and set a $350.00 price objective on shares of Snap-On in a research note on Tuesday, July 15th. Tigress Financial raised their price target on Snap-On from $390.00 to $395.00 and gave the stock a "buy" rating in a research note on Friday, August 29th. Wall Street Zen raised Snap-On from a "hold" rating to a "buy" rating in a research note on Friday, May 16th. Bank of America raised their price target on Snap-On from $265.00 to $285.00 and gave the stock an "underperform" rating in a research note on Friday, July 18th. Finally, Robert W. Baird raised their price target on Snap-On from $329.00 to $347.00 and gave the stock a "neutral" rating in a research note on Friday, July 18th. Four equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $357.00.

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.