Nomura Holdings Inc. Buys 2,158 Shares of Snap-On Incorporated $SNA

Key Points

• Nomura Holdings Inc. increased its stake in Snap-On Incorporated by 124.8%, acquiring an additional 2,158 shares, bringing its total holdings to 3,887 shares valued at approximately $1,310,000.
• Insider transactions show that CFO Aldo John Pagliari and CEO Nicholas T. Pinchuk sold shares recently, collectively offloading 27,898 shares worth $8,983,203, reflecting a decrease in their ownership of the stock.
• Snap-On recently announced a quarterly dividend of $2.14 per share, resulting in an annualized dividend yield of 2.7% based on its current stock price.

Nomura Holdings Inc. increased its holdings in shares of Snap-On Incorporated (NYSE:SNA - Free Report) by 124.8% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,887 shares of the company's stock after purchasing an additional 2,158 shares during the quarter. Nomura Holdings Inc.'s holdings in Snap-On were worth $1,310,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in SNA. Auto Owners Insurance Co increased its stake in shares of Snap-On by 35,967.2% during the first quarter. Auto Owners Insurance Co now owns 1,073,000 shares of the company's stock valued at $361,612,000 after acquiring an additional 1,070,025 shares during the period. GAMMA Investing LLC raised its holdings in Snap-On by 65,113.6% in the first quarter. GAMMA Investing LLC now owns 703,003 shares of the company's stock worth $236,919,000 after purchasing an additional 701,925 shares during the period. Ameriprise Financial Inc. boosted its stake in shares of Snap-On by 54.3% during the 1st quarter. Ameriprise Financial Inc. now owns 681,857 shares of the company's stock worth $229,793,000 after buying an additional 239,908 shares during the last quarter. Nuveen LLC bought a new stake in shares of Snap-On during the 1st quarter worth about $45,711,000. Finally, Charles Schwab Investment Management Inc. boosted its holdings in Snap-On by 6.4% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,921,584 shares of the company's stock valued at $647,593,000 after purchasing an additional 115,306 shares during the period. Hedge funds and other institutional investors own 84.88% of the company's stock.

Insider Buying and Selling at Snap-On

In other Snap-On news, CFO Aldo John Pagliari sold 125 shares of the business's stock in a transaction dated Friday, August 15th. The shares were sold at an average price of $325.21, for a total value of $40,651.25. Following the completion of the sale, the chief financial officer owned 111,721 shares of the company's stock, valued at $36,332,786.41. The trade was a 0.11% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Nicholas T. Pinchuk sold 23,042 shares of the firm's stock in a transaction on Monday, August 11th. The stock was sold at an average price of $320.88, for a total transaction of $7,393,716.96. Following the completion of the sale, the chief executive officer owned 815,219 shares of the company's stock, valued at $261,587,472.72. The trade was a 2.75% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 27,898 shares of company stock worth $8,983,203 in the last 90 days. Company insiders own 3.90% of the company's stock.

Snap-On Stock Down 1.0%

Shares of NYSE SNA traded down $3.45 during midday trading on Monday, hitting $325.26. 76,945 shares of the company's stock were exchanged, compared to its average volume of 367,927. The company has a market cap of $16.97 billion, a PE ratio of 17.35, a P/E/G ratio of 2.29 and a beta of 0.77. The firm's fifty day simple moving average is $323.96 and its 200-day simple moving average is $323.10. The company has a debt-to-equity ratio of 0.21, a current ratio of 4.48 and a quick ratio of 3.42. Snap-On Incorporated has a twelve month low of $269.58 and a twelve month high of $373.89.

Snap-On (NYSE:SNA - Get Free Report) last announced its quarterly earnings results on Thursday, July 17th. The company reported $4.72 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $4.61 by $0.11. The business 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 business's revenue was up .0% compared to the same quarter last year. During the same quarter last year, the firm posted $5.07 EPS. Research analysts predict that Snap-On Incorporated will post 19.79 EPS for the current fiscal year.

Snap-On Dividend Announcement

The company also recently declared 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. This represents a $8.56 annualized dividend and a yield of 2.6%. The ex-dividend date is Tuesday, August 19th. Snap-On's payout ratio is currently 45.65%.

Analyst Ratings Changes

Several research analysts recently issued reports on the stock. Barrington Research reissued an "outperform" rating and set a $350.00 target price on shares of Snap-On in a research note on Tuesday, July 15th. Tigress Financial lifted their price target on shares of Snap-On from $390.00 to $395.00 and gave the company a "buy" rating in a report on Friday, August 29th. 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 boosted their price objective on Snap-On from $265.00 to $285.00 and gave the company an "underperform" rating in a research note on Friday, July 18th. Finally, Robert W. Baird raised their price target on Snap-On from $329.00 to $347.00 and gave the stock a "neutral" rating in a research note on Friday, July 18th. Four equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $357.00.

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.