2,490 Shares in Snap-On Incorporated (NYSE:SNA) Bought by ING Groep NV

ING Groep NV purchased a new stake in Snap-On Incorporated (NYSE:SNA - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 2,490 shares of the company's stock, valued at approximately $839,000.

A number of other hedge funds also recently made changes to their positions in SNA. Raiffeisen Bank International AG purchased a new stake in shares of Snap-On during the 1st quarter valued at about $277,000. Blair William & Co. IL grew its stake in shares of Snap-On by 1.8% during the first quarter. Blair William & Co. IL now owns 7,834 shares of the company's stock valued at $2,640,000 after acquiring an additional 141 shares in the last quarter. Argent Trust Co acquired a new stake in shares of Snap-On during the first quarter valued at about $582,000. J. Safra Sarasin Holding AG boosted its holdings in Snap-On by 102.1% in the first quarter. J. Safra Sarasin Holding AG now owns 9,408 shares of the company's stock valued at $3,171,000 after purchasing an additional 4,754 shares during the last quarter. Finally, PNC Financial Services Group Inc. grew its stake in Snap-On by 0.4% during the 1st quarter. PNC Financial Services Group Inc. now owns 29,805 shares of the company's stock valued at $10,045,000 after purchasing an additional 110 shares in the last quarter. Institutional investors and hedge funds own 84.88% of the company's stock.

Snap-On Price Performance

Shares of NYSE SNA traded up $0.71 during midday trading on Friday, reaching $321.67. The company's stock had a trading volume of 156,768 shares, compared to its average volume of 368,937. The company has a current ratio of 4.48, a quick ratio of 3.42 and a debt-to-equity ratio of 0.21. The company has a market cap of $16.78 billion, a price-to-earnings ratio of 17.16, a price-to-earnings-growth ratio of 2.23 and a beta of 0.76. Snap-On Incorporated has a one year low of $267.00 and a one year high of $373.89. The company has a 50 day moving average price of $318.92 and a 200 day moving average price of $326.19.

Snap-On (NYSE:SNA - Get Free Report) last issued its quarterly 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 firm had revenue of $1.18 billion for the quarter, compared to analysts' expectations of $1.16 billion. During the same quarter last year, the business posted $5.07 EPS. Snap-On's revenue was up .0% on a year-over-year basis. On average, equities research analysts expect 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 will be paid on Wednesday, September 10th. Shareholders of record on Tuesday, August 19th will be paid a dividend of $2.14 per share. The ex-dividend date of this dividend is Tuesday, August 19th. This represents a $8.56 dividend on an annualized basis and a dividend yield of 2.7%. Snap-On's dividend payout ratio (DPR) is 45.65%.

Insider Buying and Selling at Snap-On

In other news, CFO Aldo John Pagliari sold 5,553 shares of the company's stock in a transaction 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 transaction, the chief financial officer directly owned 109,560 shares of the company's stock, valued at approximately $35,808,590.40. This represents a 4.82% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Karen L. Daniel sold 1,090 shares of the firm's stock in a transaction on Thursday, June 5th. The shares were sold at an average price of $319.92, for a total transaction of $348,712.80. Following the transaction, the director owned 8,030 shares in the company, valued at $2,568,957.60. This represents a 11.95% decrease in their position. The disclosure for this sale can be found here. Insiders sold 29,815 shares of company stock valued at $9,482,532 in the last quarter. Company insiders own 3.90% of the company's stock.

Analysts Set New Price Targets

SNA has been the subject of a number of recent analyst reports. Bank of America raised their price target on shares of Snap-On from $265.00 to $285.00 and gave the stock an "underperform" rating in a research report on Friday, July 18th. Wall Street Zen raised Snap-On from a "hold" rating to a "buy" rating in a research report on Friday, May 16th. Robert W. Baird boosted their price objective on shares of Snap-On from $329.00 to $347.00 and gave the company a "neutral" rating in a research report on Friday, July 18th. Finally, Barrington Research reaffirmed an "outperform" rating and issued a $350.00 target price on shares of Snap-On in a research report on Tuesday, July 15th. One 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 stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $356.17.

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.