Snap-On Incorporated $SNA Shares Sold by Korea Investment CORP

Key Points

• Korea Investment CORP trimmed its stake in Snap‑On by 25.4% in Q3, selling 9,762 shares and leaving it with 28,668 shares worth about $9.93 million (≈0.06% of the company).
• Insider selling has been notable recently — insiders sold 39,650 shares worth $15.21 million in the past 90 days (insider ownership ~3.9%), including sales by VP June C. Lemerand and SVP Timothy L. Chambers.
• Snap‑On reported quarterly EPS of $4.94 (beating estimates) on $1.23B revenue (slightly below estimates); the company has a $19.2B market cap, P/E ~19.3, pays a $2.44 quarterly dividend (2.6% yield), and carries a consensus analyst target of $377.33 ("Moderate Buy").

Korea Investment CORP trimmed its holdings in shares of Snap-On Incorporated (NYSE:SNA - Free Report) by 25.4% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 28,668 shares of the company's stock after selling 9,762 shares during the period. Korea Investment CORP owned approximately 0.06% of Snap-On worth $9,934,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of SNA. Tobam bought a new stake in shares of Snap-On during the 2nd quarter worth about $29,000. Vermillion & White Wealth Management Group LLC raised its holdings in Snap-On by 97.9% during the second quarter. Vermillion & White Wealth Management Group LLC now owns 95 shares of the company's stock worth $30,000 after purchasing an additional 47 shares in the last quarter. SJS Investment Consulting Inc. lifted its position in Snap-On by 1,880.0% in the third quarter. SJS Investment Consulting Inc. now owns 99 shares of the company's stock worth $34,000 after purchasing an additional 94 shares during the period. Quent Capital LLC bought a new position in Snap-On during the 3rd quarter valued at $36,000. Finally, CoreFirst Bank & Trust acquired a new position in shares of Snap-On during the 2nd quarter valued at $37,000. 84.88% of the stock is currently owned by institutional investors.

Snap-On Stock Performance

Shares of SNA stock opened at $369.85 on Thursday. The company has a market capitalization of $19.20 billion, a price-to-earnings ratio of 19.27, a P/E/G ratio of 2.55 and a beta of 0.78. Snap-On Incorporated has a 1-year low of $289.81 and a 1-year high of $390.13. The company has a current ratio of 4.79, a quick ratio of 3.68 and a debt-to-equity ratio of 0.20. The stock's fifty day simple moving average is $372.14 and its 200-day simple moving average is $350.80.

Snap-On (NYSE:SNA - Get Free Report) last announced its quarterly earnings data on Thursday, February 5th. The company reported $4.94 EPS for the quarter, topping analysts' consensus estimates of $4.86 by $0.08. The firm had revenue of $1.23 billion during the quarter, compared to analyst estimates of $1.24 billion. Snap-On had a return on equity of 17.34% and a net margin of 21.44%.The business's quarterly revenue was up 2.8% compared to the same quarter last year. During the same period last year, the company posted $4.82 EPS. On average, sell-side analysts predict that Snap-On Incorporated will post 19.79 earnings per share for the current fiscal year.

Snap-On Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 10th. Shareholders of record on Tuesday, February 24th were paid a $2.44 dividend. This represents a $9.76 annualized dividend and a yield of 2.6%. The ex-dividend date was Tuesday, February 24th. Snap-On's dividend payout ratio is currently 50.86%.

Insider Activity at Snap-On

In other Snap-On news, VP June C. Lemerand sold 1,378 shares of the stock in a transaction that occurred on Wednesday, February 25th. The shares were sold at an average price of $387.57, for a total value of $534,071.46. Following the completion of the sale, the vice president owned 2,913 shares in the company, valued at $1,128,991.41. This represents a 32.11% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Timothy L. Chambers sold 8,000 shares of Snap-On stock in a transaction on Wednesday, February 4th. The shares were sold at an average price of $385.13, for a total transaction of $3,081,040.00. Following the sale, the senior vice president directly owned 19,480 shares of the company's stock, valued at $7,502,332.40. This trade represents a 29.11% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 39,650 shares of company stock worth $15,210,959 in the last 90 days. 3.90% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

SNA has been the topic of a number of research reports. Wall Street Zen downgraded Snap-On from a "buy" rating to a "hold" rating in a research note on Saturday, February 7th. Roth Mkm reiterated a "buy" rating and issued a $409.00 price target (up from $385.00) on shares of Snap-On in a research report on Tuesday, February 10th. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Snap-On in a research note on Wednesday, January 21st. Tigress Financial increased their target price on shares of Snap-On from $405.00 to $445.00 and gave the company a "buy" rating in a research note on Friday, February 27th. Finally, Robert W. Baird set a $375.00 target price on shares of Snap-On in a report on Friday, February 6th. Five analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $377.33.

About Snap-On

Snap‑On Incorporated NYSE: SNA is a designer, manufacturer and marketer of tools, diagnostic equipment, repair information and shop equipment for professional users. The company's product range includes hand and power tools, tool storage and cabinets, diagnostic scan tools and software, shop equipment such as lifts and tire changers, and specialized specialty tools for automotive, aviation, marine and industrial applications. Snap‑On also offers information and workflow solutions that combine diagnostic data, repair procedures and parts information to support professional technicians.

Founded in 1920 and headquartered in Kenosha, Wisconsin, Snap‑On has established a long history in the professional tools market.

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