J. Safra Sarasin Holding AG Has $296,000 Stock Position in Snap-On Incorporated $SNA

Key Points

• J. Safra Sarasin Holding AG significantly reduced its stake in Snap-On Incorporated by 89.9% in the second quarter, owning only 951 shares worth approximately $296,000 after the sale.
• Analysts have a generally optimistic view on Snap-On, with five rating the stock as a "Buy", and consensus target prices ranging from $285.00 to $395.00.
• Snap-On recently declared a quarterly dividend of $2.14 per share, which reflects an annualized yield of 2.5% and a payout ratio of 45.65%.

J. Safra Sarasin Holding AG cut its stake in Snap-On Incorporated (NYSE:SNA - Free Report) by 89.9% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 951 shares of the company's stock after selling 8,457 shares during the period. J. Safra Sarasin Holding AG's holdings in Snap-On were worth $296,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently bought and sold shares of the company. Alpine Bank Wealth Management bought a new position in Snap-On in the first quarter valued at about $25,000. Golden State Wealth Management LLC lifted its position in Snap-On by 421.1% during the 1st quarter. Golden State Wealth Management LLC now owns 99 shares of the company's stock valued at $33,000 after purchasing an additional 80 shares during the period. Cullen Frost Bankers Inc. boosted its stake in shares of Snap-On by 248.3% in the 1st quarter. Cullen Frost Bankers Inc. now owns 101 shares of the company's stock valued at $34,000 after purchasing an additional 72 shares during the last quarter. Ransom Advisory Ltd acquired a new stake in shares of Snap-On during the 1st quarter worth approximately $34,000. Finally, Thurston Springer Miller Herd & Titak Inc. raised its stake in shares of Snap-On by 52.8% during the second quarter. Thurston Springer Miller Herd & Titak Inc. now owns 110 shares of the company's stock worth $34,000 after buying an additional 38 shares during the last quarter. Institutional investors own 84.88% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have commented on the stock. Robert W. Baird lifted their target price on shares of Snap-On from $329.00 to $347.00 and gave the stock a "neutral" rating in a report on Friday, July 18th. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Snap-On in a research note on Saturday, September 27th. Bank of America increased their target price on Snap-On from $265.00 to $285.00 and gave the company an "underperform" rating in a research note on Friday, July 18th. Tigress Financial boosted their target price on Snap-On from $390.00 to $395.00 and gave the stock a "buy" rating in a research report on Friday, August 29th. Finally, Barrington Research reaffirmed an "outperform" rating and issued a $350.00 price target on shares of Snap-On in a research note on Tuesday, September 23rd. Five analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $357.00.

Snap-On Trading Down 0.5%

NYSE SNA opened at $347.39 on Monday. The stock has a market capitalization of $18.12 billion, a price-to-earnings ratio of 18.53, a PEG ratio of 2.42 and a beta of 0.78. The stock's 50 day moving average price is $329.92 and its two-hundred day moving average price is $323.60. The company has a debt-to-equity ratio of 0.21, a quick ratio of 3.42 and a current ratio of 4.48. Snap-On Incorporated has a 52 week low of $284.38 and a 52 week high of $373.89.

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

Snap-On Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 10th. Shareholders of record on Tuesday, August 19th were issued a dividend of $2.14 per share. The ex-dividend date of this dividend was Tuesday, August 19th. This represents a $8.56 annualized dividend and a yield of 2.5%. Snap-On's dividend payout ratio (DPR) is currently 45.65%.

Insider Buying and Selling at Snap-On

In other Snap-On news, CEO Nicholas T. Pinchuk sold 23,042 shares of the company's stock in a transaction on 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 transaction, 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Aldo John Pagliari sold 4,731 shares of the stock in a transaction dated Thursday, August 14th. The shares were sold at an average price of $327.38, for a total transaction of $1,548,834.78. Following the completion of the transaction, the chief financial officer directly owned 111,667 shares in the company, 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. Over the last quarter, insiders sold 27,898 shares of company stock worth $8,983,203. Corporate insiders own 3.90% of the company's stock.

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.

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