KBC Group NV Buys 1,767 Shares of Snap-On Incorporated (NYSE:SNA)

KBC Group NV grew its holdings in shares of Snap-On Incorporated (NYSE:SNA - Free Report) by 4.1% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 44,587 shares of the company's stock after purchasing an additional 1,767 shares during the period. KBC Group NV owned 0.09% of Snap-On worth $15,027,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Alpine Bank Wealth Management acquired a new stake in Snap-On during the first quarter worth about $25,000. SBI Securities Co. Ltd. acquired a new position in Snap-On in the fourth quarter valued at approximately $26,000. Golden State Wealth Management LLC grew its holdings 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 purchasing an additional 80 shares during the last quarter. Opal Wealth Advisors LLC acquired a new stake in shares of Snap-On during the 1st quarter worth approximately $35,000. Finally, CoreFirst Bank & Trust bought a new stake in shares of Snap-On in the 4th quarter worth approximately $40,000. 84.88% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the stock. Robert W. Baird cut their price objective on shares of Snap-On from $349.00 to $320.00 and set a "neutral" rating on the stock in a research note on Monday, April 21st. Barrington Research reaffirmed an "outperform" rating and set a $350.00 target price on shares of Snap-On in a research report on Monday, May 19th. Wall Street Zen upgraded shares of Snap-On from a "hold" rating to a "buy" rating in a research report on Friday, May 16th. Tigress Financial boosted their price target on Snap-On from $385.00 to $390.00 and gave the company a "buy" rating in a research note on Tuesday, March 4th. Finally, Longbow Research upgraded Snap-On from a "neutral" rating to a "buy" rating and set a $400.00 price objective for the company in a research report on Monday, March 31st. One analyst has rated the stock with a sell rating, one has given a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $350.83.

Insider Activity

In other Snap-On news, CFO Aldo John Pagliari sold 5,553 shares of the firm's stock in a transaction on Thursday, May 15th. The stock was sold at an average price of $326.84, for a total value of $1,814,942.52. Following the sale, the chief financial officer owned 109,560 shares of the company's stock, valued at approximately $35,808,590.40. This trade represents a 4.82% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Nicholas T. Pinchuk sold 23,172 shares of the company's stock in a transaction that occurred on Monday, June 2nd. The stock was sold at an average price of $315.85, for a total transaction of $7,318,876.20. Following the transaction, the chief executive officer owned 804,510 shares of the company's stock, valued at approximately $254,104,483.50. This represents a 2.80% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 29,815 shares of company stock worth $9,482,532. 3.90% of the stock is currently owned by company insiders.

Snap-On Trading Up 0.7%

Shares of NYSE SNA traded up $2.07 during midday trading on Wednesday, reaching $319.93. 286,311 shares of the stock were exchanged, compared to its average volume of 369,408. The company has a market capitalization of $16.73 billion, a price-to-earnings ratio of 16.75, a P/E/G ratio of 2.27 and a beta of 0.76. The company has a debt-to-equity ratio of 0.21, a current ratio of 4.14 and a quick ratio of 3.18. The business has a 50-day simple moving average of $316.63 and a two-hundred day simple moving average of $329.77. Snap-On Incorporated has a 12 month low of $252.98 and a 12 month high of $373.90.

Snap-On (NYSE:SNA - Get Free Report) last posted its quarterly earnings data on Thursday, April 17th. The company reported $4.51 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $4.81 by ($0.30). Snap-On had a net margin of 21.42% and a return on equity of 18.60%. The business had revenue of $1.14 billion during the quarter, compared to analyst estimates of $1.20 billion. During the same quarter last year, the business earned $4.91 earnings per share. As a group, equities research analysts expect that Snap-On Incorporated will post 19.79 EPS for the current year.

Snap-On Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Tuesday, May 20th were issued a dividend of $2.14 per share. This represents a $8.56 dividend on an annualized basis and a dividend yield of 2.68%. The ex-dividend date was Tuesday, May 20th. Snap-On's dividend payout ratio is currently 44.82%.

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.