National Pension Service Has $7.66 Million Holdings in Snap-On Incorporated $SNA

Key Points

• The National Pension Service reduced its stake in Snap-On Incorporated by 78.8% in the first quarter, now holding 22,722 shares worth approximately $7.66 million.
• CEO Nicholas T. Pinchuk sold 23,172 shares of Snap-On stock, reducing his ownership by 2.80%, while CFO Aldo John Pagliari also sold shares, reducing his position by 4.06%.
• Snap-On recently declared a quarterly dividend of $2.14 per share, representing an annualized yield of 2.6% with a payout ratio of 45.65%.

National Pension Service lessened its stake in Snap-On Incorporated (NYSE:SNA - Free Report) by 78.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 22,722 shares of the company's stock after selling 84,681 shares during the period. National Pension Service's holdings in Snap-On were worth $7,658,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in SNA. Alpine Bank Wealth Management acquired a new stake in shares of Snap-On during the 1st quarter worth approximately $25,000. Golden State Wealth Management LLC lifted 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 worth $33,000 after purchasing an additional 80 shares during the period. Cullen Frost Bankers Inc. boosted its stake in Snap-On by 248.3% during the first quarter. Cullen Frost Bankers Inc. now owns 101 shares of the company's stock worth $34,000 after buying an additional 72 shares in the last quarter. Opal Wealth Advisors LLC bought a new stake in Snap-On in the 1st quarter valued at $35,000. Finally, ORG Partners LLC increased its holdings in Snap-On by 150.8% in the 1st quarter. ORG Partners LLC now owns 158 shares of the company's stock valued at $54,000 after buying an additional 95 shares during the period. 84.88% of the stock is currently owned by institutional investors.

Snap-On Price Performance

SNA traded down $1.4890 during midday trading on Wednesday, hitting $323.2710. The company had a trading volume of 229,019 shares, compared to its average volume of 381,331. Snap-On Incorporated has a twelve month low of $268.90 and a twelve month high of $373.89. The company has a market capitalization of $16.86 billion, a PE ratio of 17.24, a P/E/G ratio of 2.25 and a beta of 0.76. 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 firm's 50-day simple moving average is $319.68 and its 200-day simple moving average is $324.67.

Snap-On (NYSE:SNA - Get Free Report) last released its quarterly earnings results on Thursday, July 17th. The company reported $4.72 EPS 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 analysts' expectations of $1.16 billion. Snap-On had a net margin of 20.98% and a return on equity of 18.02%. Snap-On's revenue was up .0% compared to the same quarter last year. During the same period in the prior year, the firm earned $5.07 earnings per share. Equities research analysts predict that Snap-On Incorporated will post 19.79 EPS for the current fiscal year.

Snap-On Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 10th. Stockholders of record on Tuesday, August 19th will be given 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 Activity

In other Snap-On news, CEO Nicholas T. Pinchuk sold 23,172 shares of the business's stock in a transaction dated 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 completion of the sale, the chief executive officer directly owned 804,510 shares of the company's stock, valued at approximately $254,104,483.50. The trade was a 2.80% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Aldo John Pagliari sold 4,731 shares of the firm's 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 $36,557,542.46. This trade represents a 4.06% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 52,160 shares of company stock valued at $16,650,792 over the last 90 days. 3.90% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

SNA has been the topic of several recent research reports. Barrington Research reiterated an "outperform" rating and set a $350.00 target price on shares of Snap-On in a research report on Tuesday, July 15th. Bank of America lifted their price objective on Snap-On from $265.00 to $285.00 and gave the company an "underperform" rating in a report on Friday, July 18th. Robert W. Baird increased their target price on Snap-On from $329.00 to $347.00 and gave the stock a "neutral" rating in a report on Friday, July 18th. Finally, Wall Street Zen upgraded Snap-On from a "hold" rating to a "buy" rating in a research report on Friday, May 16th. Four analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Snap-On presently has a consensus rating of "Moderate Buy" and a consensus price target 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.