Snap-On Incorporated (NYSE:SNA) Shares Acquired by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. boosted its position in Snap-On Incorporated (NYSE:SNA - Free Report) by 13.5% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 49,268 shares of the company's stock after acquiring an additional 5,867 shares during the quarter. Mirae Asset Global Investments Co. Ltd. owned 0.09% of Snap-On worth $16,224,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Alpine Bank Wealth Management purchased a new stake in shares of Snap-On during the 1st quarter worth $25,000. SBI Securities Co. Ltd. purchased a new stake in Snap-On during the 4th quarter worth about $26,000. Golden State Wealth Management LLC lifted its holdings in Snap-On by 421.1% during the 1st quarter. Golden State Wealth Management LLC now owns 99 shares of the company's stock worth $33,000 after buying an additional 80 shares during the last quarter. Opal Wealth Advisors LLC acquired a new position in shares of Snap-On during the 1st quarter worth about $35,000. Finally, CoreFirst Bank & Trust purchased a new position in shares of Snap-On in the 4th quarter valued at about $40,000. Hedge funds and other institutional investors own 84.88% of the company's stock.

Insider Activity at Snap-On

In related news, Director Karen L. Daniel sold 1,090 shares of the firm's stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of $319.92, for a total value of $348,712.80. Following the completion of the sale, the director now owns 8,030 shares in the company, valued at $2,568,957.60. This trade represents a 11.95% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Aldo John Pagliari sold 5,553 shares of the business's stock in a transaction that occurred 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 transaction, the chief financial officer now owns 109,560 shares in the company, valued at $35,808,590.40. The trade was a 4.82% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 29,815 shares of company stock worth $9,482,532 in the last three months. Insiders own 3.90% of the company's stock.

Snap-On Trading Up 0.4%

NYSE SNA opened at $310.77 on Monday. The firm's fifty day moving average is $315.94 and its two-hundred day moving average is $330.16. Snap-On Incorporated has a one year low of $252.98 and a one year high of $373.90. The company has a debt-to-equity ratio of 0.21, a quick ratio of 3.18 and a current ratio of 4.14. The firm has a market cap of $16.25 billion, a PE ratio of 16.27, a P/E/G ratio of 2.22 and a beta of 0.78.

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

Snap-On Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Tuesday, May 20th were issued a dividend of $2.14 per share. This represents a $8.56 annualized dividend and a dividend yield of 2.75%. The ex-dividend date of this dividend was Tuesday, May 20th. Snap-On's dividend payout ratio is presently 44.82%.

Analyst Upgrades and Downgrades

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

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.

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