Snap-On Incorporated (NYSE:SNA) Shares Bought by National Bank of Canada FI

Key Points

• National Bank of Canada FI increased its stake in Snap-On Incorporated by 17.8% during the 1st quarter, acquiring an additional 6,440 shares and owning a total of 42,542 shares valued at approximately $14.3 million.
• Several institutional investors, including Mitsubishi UFJ Asset Management and Charles Schwab Investment Management, also increased their holdings in Snap-On, indicating a strong interest from 84.88% of institutional ownership.
• Snap-On recently announced a quarterly dividend of $2.14 to be paid on September 10th, reflecting an annualized yield of 2.7%.

National Bank of Canada FI raised its position in Snap-On Incorporated (NYSE:SNA - Free Report) by 17.8% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 42,542 shares of the company's stock after purchasing an additional 6,440 shares during the quarter. National Bank of Canada FI owned 0.08% of Snap-On worth $14,337,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Alpine Bank Wealth Management purchased a new stake in Snap-On in the first quarter valued at approximately $25,000. Golden State Wealth Management LLC raised its position in Snap-On by 421.1% in 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 period. Cullen Frost Bankers Inc. raised its position in Snap-On by 248.3% in the first 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 period. Opal Wealth Advisors LLC purchased a new stake in Snap-On in the first quarter valued at approximately $35,000. Finally, ORG Partners LLC raised its position in Snap-On by 150.8% in the first quarter. ORG Partners LLC now owns 158 shares of the company's stock valued at $54,000 after purchasing an additional 95 shares during the period. Hedge funds and other institutional investors own 84.88% of the company's stock.

Snap-On Stock Up 2.6%

Shares of Snap-On stock traded up $8.34 during trading hours on Wednesday, reaching $333.90. 236,247 shares of the company were exchanged, compared to its average volume of 338,202. The company has a debt-to-equity ratio of 0.21, a quick ratio of 3.42 and a current ratio of 4.48. The stock's fifty day moving average is $319.37 and its 200 day moving average is $325.69. The firm has a market cap of $17.42 billion, a PE ratio of 17.81, a PEG ratio of 2.27 and a beta of 0.76. Snap-On Incorporated has a 1 year low of $268.90 and a 1 year high of $373.89.

Snap-On (NYSE:SNA - Get Free Report) last issued its earnings results on Thursday, July 17th. The company reported $4.72 EPS for the quarter, topping analysts' consensus estimates of $4.61 by $0.11. The firm 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 revenue was up .0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $5.07 earnings per share. As a group, equities research analysts forecast that Snap-On Incorporated will post 19.79 earnings per share for the current year.

Snap-On Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 10th. Investors of record on Tuesday, August 19th will be paid a dividend of $2.14 per share. The ex-dividend date is Tuesday, August 19th. This represents a $8.56 dividend on an annualized basis and a dividend yield of 2.6%. Snap-On's payout ratio is presently 45.65%.

Insider Buying and Selling

In related news, CFO Aldo John Pagliari sold 5,553 shares of the business's stock in a transaction on Thursday, May 15th. The shares were sold at an average price of $326.84, for a total transaction of $1,814,942.52. Following the completion of the transaction, the chief financial officer 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 is accessible through the SEC website. Also, Director Karen L. Daniel sold 1,090 shares of the business's stock in a transaction on Thursday, June 5th. The stock was 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 of the company's stock, valued at approximately $2,568,957.60. The trade was a 11.95% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 52,857 shares of company stock worth $16,876,248. Corporate insiders own 3.90% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the company. Wall Street Zen raised Snap-On from a "hold" rating to a "buy" rating in a research report on Friday, May 16th. Bank of America upped their price objective on Snap-On from $265.00 to $285.00 and gave the stock an "underperform" rating in a research report on Friday, July 18th. Robert W. Baird upped their price objective on Snap-On from $329.00 to $347.00 and gave the stock a "neutral" rating in a research report on Friday, July 18th. Finally, Barrington Research reaffirmed an "outperform" rating and set a $350.00 price objective on shares of Snap-On in a research report on Tuesday, July 15th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $356.17.

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.