J. Safra Sarasin Holding AG Increases Stake in Snap-On Incorporated (NYSE:SNA)

Key Points

• J. Safra Sarasin Holding AG increased its stake in Snap-On by 102.1%, now owning 9,408 shares valued at approximately $3.17 million.
• CEO Nicholas T. Pinchuk sold 23,172 shares for over $7.3 million, resulting in a 2.80% decrease in his ownership.
• Wall Street analysts have mixed ratings for Snap-On, with one firm setting a target price of $350 and another increasing their target from $329 to $347.

J. Safra Sarasin Holding AG boosted its stake in Snap-On Incorporated (NYSE:SNA - Free Report) by 102.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 9,408 shares of the company's stock after purchasing an additional 4,754 shares during the quarter. J. Safra Sarasin Holding AG's holdings in Snap-On were worth $3,171,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also added to or reduced their stakes in SNA. Alpine Bank Wealth Management bought a new stake in shares of Snap-On in the 1st quarter worth approximately $25,000. Golden State Wealth Management LLC grew its holdings in 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 period. Cullen Frost Bankers Inc. grew its holdings in Snap-On by 248.3% during 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 bought a new position in shares of Snap-On in the first quarter worth about $35,000. Finally, ORG Partners LLC boosted its stake in shares of Snap-On by 150.8% in the first quarter. ORG Partners LLC now owns 158 shares of the company's stock worth $54,000 after acquiring an additional 95 shares during the period. Institutional investors own 84.88% of the company's stock.

Insider Transactions at Snap-On

In other news, CEO Nicholas T. Pinchuk sold 23,172 shares of the business's stock in a transaction that occurred on Monday, June 2nd. The shares were sold at an average price of $315.85, for a total value of $7,318,876.20. Following the completion of the sale, the chief executive officer directly owned 804,510 shares in the company, valued at approximately $254,104,483.50. The trade was a 2.80% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Aldo John Pagliari sold 5,553 shares of the company's stock in a transaction dated Thursday, May 15th. The stock was sold at an average price of $326.84, for a total transaction of $1,814,942.52. Following the completion of the sale, the chief financial officer directly owned 109,560 shares in the company, valued at $35,808,590.40. This represents a 4.82% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 29,815 shares of company stock valued at $9,482,532. 3.90% of the stock is currently owned by insiders.

Analysts Set New Price Targets

SNA has been the subject of a number of recent analyst reports. Barrington Research reaffirmed an "outperform" rating and issued a $350.00 price objective on shares of Snap-On in a research note on Tuesday, July 15th. Robert W. Baird upped their price objective on Snap-On from $329.00 to $347.00 and gave the company a "neutral" rating in a research report on Friday, July 18th. 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 research note on Friday, July 18th. Finally, Wall Street Zen upgraded Snap-On from a "hold" rating to a "buy" rating in a research note on Friday, May 16th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and five have issued a buy rating to the stock. According to MarketBeat, Snap-On currently has a consensus rating of "Moderate Buy" and an average target price of $356.17.

Snap-On Stock Performance

Shares of NYSE SNA traded up $1.71 during trading hours on Tuesday, hitting $320.64. 28,654 shares of the stock were exchanged, compared to its average volume of 390,666. The company has a debt-to-equity ratio of 0.21, a current ratio of 4.48 and a quick ratio of 3.42. The company's 50 day moving average is $318.94 and its 200 day moving average is $326.66. The firm has a market capitalization of $16.73 billion, a P/E ratio of 17.09, a P/E/G ratio of 2.21 and a beta of 0.76. Snap-On Incorporated has a one year low of $267.00 and a one year high of $373.89.

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

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.