Zurich Insurance Group Ltd FI Buys 1,472 Shares of Snap-on Incorporated (NYSE:SNA)

Zurich Insurance Group Ltd FI grew its position in shares of Snap-on Incorporated (NYSE:SNA - Free Report) by 19.9% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,872 shares of the company's stock after buying an additional 1,472 shares during the quarter. Zurich Insurance Group Ltd FI's holdings in Snap-on were worth $3,012,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of SNA. UMB Bank n.a. lifted its stake in shares of Snap-on by 70.5% in the 4th quarter. UMB Bank n.a. now owns 75 shares of the company's stock worth $25,000 after purchasing an additional 31 shares during the period. SBI Securities Co. Ltd. bought a new position in Snap-on in the fourth quarter worth approximately $26,000. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in shares of Snap-on in the 4th quarter worth $28,000. CoreFirst Bank & Trust bought a new position in Snap-on in the 4th quarter worth $40,000. Finally, TCTC Holdings LLC lifted its position in Snap-on by 41.3% during the fourth quarter. TCTC Holdings LLC now owns 147 shares of the company's stock valued at $50,000 after purchasing an additional 43 shares in the last quarter. 84.88% of the stock is owned by institutional investors.

Snap-on Price Performance

SNA stock traded down $1.63 during mid-day trading on Friday, hitting $319.51. The company had a trading volume of 289,667 shares, compared to its average volume of 362,664. The company has a market capitalization of $16.71 billion, a price-to-earnings ratio of 16.39, a P/E/G ratio of 2.21 and a beta of 0.78. The company has a 50-day moving average price of $322.12 and a 200 day moving average price of $338.48. The company has a quick ratio of 3.17, a current ratio of 4.15 and a debt-to-equity ratio of 0.22. Snap-on Incorporated has a 12-month low of $252.98 and a 12-month high of $373.90.

Snap-on (NYSE:SNA - Get Free Report) last posted its earnings results on Thursday, April 17th. The company reported $4.51 EPS for the quarter, missing analysts' consensus estimates of $4.81 by ($0.30). Snap-on had a net margin of 21.71% and a return on equity of 19.20%. The firm had revenue of $1.14 billion for the quarter, compared to the consensus estimate of $1.20 billion. During the same quarter in the prior year, the company posted $4.91 earnings per share. On average, research analysts anticipate that Snap-on Incorporated will post 19.79 earnings per share for the current year.

Snap-on Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Tuesday, May 20th will be paid a $2.14 dividend. The ex-dividend date is Tuesday, May 20th. This represents a $8.56 dividend on an annualized basis and a dividend yield of 2.68%. Snap-on's payout ratio is currently 44.82%.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the stock. Longbow Research raised shares of Snap-on from a "neutral" rating to a "buy" rating and set a $400.00 target price for the company in a report on Monday, March 31st. Barrington Research restated an "outperform" rating and set a $350.00 price objective on shares of Snap-on in a research report on Monday. Wall Street Zen raised shares of Snap-on from a "hold" rating to a "buy" rating in a report on Friday, May 16th. Tigress Financial increased their price target on Snap-on from $385.00 to $390.00 and gave the stock a "buy" rating in a research note on Tuesday, March 4th. Finally, Robert W. Baird lowered their price objective on Snap-on from $349.00 to $320.00 and set a "neutral" rating on the stock in a research report on Monday, April 21st. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and five have given a buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $350.83.

Insider Transactions at Snap-on

In related news, CFO Aldo John Pagliari sold 5,553 shares of the firm's stock in a transaction 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 completion of the sale, the chief financial officer now directly owns 109,560 shares in the company, valued at $35,808,590.40. This trade represents a 4.82% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Nicholas T. Pinchuk sold 22,700 shares of the stock in a transaction on Thursday, March 27th. The shares were sold at an average price of $335.32, for a total transaction of $7,611,764.00. Following the completion of the sale, the chief executive officer now directly owns 793,932 shares in the company, valued at approximately $266,221,278.24. This represents a 2.78% decrease in their position. The disclosure for this sale can be found here. Insiders own 3.90% of the company's stock.

Snap-on 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.