UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC Has $115.92 Million Stock Holdings in Snap-On Incorporated $SNA

Key Points

• UBS Asset Management increased its stake in Snap-On Incorporated by 2.7% in the first quarter, owning 343,958 shares valued at approximately $115.92 million.
• Several analysts have revised their price targets for Snap-On, with estimates ranging from $285 to $395, while the stock currently holds a consensus rating of "Moderate Buy".
• Insider trading activity shows that both the CFO and CEO sold shares in August, with the CFO selling 4,731 shares and the CEO selling 23,042 shares as part of a significant transaction.

UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in shares of Snap-On Incorporated (NYSE:SNA - Free Report) by 2.7% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 343,958 shares of the company's stock after buying an additional 9,106 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC owned 0.66% of Snap-On worth $115,917,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Forvis Mazars Wealth Advisors LLC boosted its holdings in shares of Snap-On by 0.7% during the 1st quarter. Forvis Mazars Wealth Advisors LLC now owns 4,607 shares of the company's stock worth $1,553,000 after buying an additional 32 shares during the period. Horizon Investments LLC boosted its holdings in shares of Snap-On by 4.3% during the 1st quarter. Horizon Investments LLC now owns 775 shares of the company's stock worth $261,000 after buying an additional 32 shares during the period. TrinityPoint Wealth LLC boosted its holdings in shares of Snap-On by 0.8% during the 4th quarter. TrinityPoint Wealth LLC now owns 4,164 shares of the company's stock worth $1,414,000 after buying an additional 33 shares during the period. Cary Street Partners Investment Advisory LLC boosted its holdings in shares of Snap-On by 5.2% during the 1st quarter. Cary Street Partners Investment Advisory LLC now owns 694 shares of the company's stock worth $234,000 after buying an additional 34 shares during the period. Finally, Canandaigua National Trust Co of Florida boosted its holdings in shares of Snap-On by 5.4% during the 1st quarter. Canandaigua National Trust Co of Florida now owns 716 shares of the company's stock worth $241,000 after buying an additional 37 shares during the period. Institutional investors own 84.88% of the company's stock.

Wall Street Analysts Forecast Growth

SNA has been the subject of several research analyst reports. Bank of America lifted their target price on shares of Snap-On from $265.00 to $285.00 and gave the stock an "underperform" rating in a report on Friday, July 18th. Tigress Financial boosted their price objective 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. Barrington Research reissued an "outperform" rating and issued a $350.00 price objective on shares of Snap-On in a report on Tuesday, July 15th. Wall Street Zen raised shares of Snap-On from a "hold" rating to a "buy" rating in a report on Friday, May 16th. Finally, Robert W. Baird boosted their price objective on shares of Snap-On from $329.00 to $347.00 and gave the company a "neutral" rating in a report on Friday, July 18th. Four analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $357.00.

Insider Buying and Selling

In related news, CFO Aldo John Pagliari sold 4,731 shares of the company's stock in a transaction that occurred on Thursday, August 14th. The shares were sold at an average price of $327.38, for a total transaction of $1,548,834.78. Following the completion of the transaction, the chief financial officer directly owned 111,667 shares in the company, valued at $36,557,542.46. This represents a 4.06% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Nicholas T. Pinchuk sold 23,042 shares of the company's stock in a transaction that occurred 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 transaction, the chief executive officer owned 815,219 shares of the company's stock, valued at approximately $261,587,472.72. This represents a 2.75% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 27,898 shares of company stock valued at $8,983,203. 3.90% of the stock is owned by corporate insiders.

Snap-On Price Performance

Shares of NYSE:SNA opened at $333.70 on Friday. The firm has a 50 day moving average of $324.94 and a 200-day moving average of $322.95. The stock has a market capitalization of $17.41 billion, a PE ratio of 17.80, a PEG ratio of 2.31 and a beta of 0.77. The company has a current ratio of 4.48, a quick ratio of 3.42 and a debt-to-equity ratio of 0.21. Snap-On Incorporated has a 12 month low of $278.75 and a 12 month high of $373.89.

Snap-On (NYSE:SNA - Get Free Report) last issued its earnings results on Thursday, July 17th. The company reported $4.72 EPS for the quarter, beating the consensus estimate of $4.61 by $0.11. The company had revenue of $1.18 billion during the quarter, compared to analysts' expectations 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 for the quarter was up .0% compared to the same quarter last year. During the same period in the previous year, the company earned $5.07 EPS. On average, equities research analysts predict that Snap-On Incorporated will post 19.79 EPS for the current fiscal year.

Snap-On Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 10th. Investors of record on Tuesday, August 19th were given a dividend of $2.14 per share. This represents a $8.56 dividend on an annualized basis and a yield of 2.6%. The ex-dividend date was Tuesday, August 19th. Snap-On's dividend payout ratio is currently 45.65%.

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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