Zions Bancorporation National Association UT Buys Shares of 2,478 Snap-On Incorporated (NYSE:SNA)

Key Points

• Zions Bancorporation National Association UT has acquired 2,478 shares of Snap-On Incorporated, valued at approximately $835,000, in the first quarter of this year.
• Insider trading activity includes significant sales by CFO Aldo John Pagliari and CEO Nicholas T. Pinchuk, with total sales of $9.48 million worth of shares in the last quarter.
• Snap-On has reported strong quarterly earnings, with $4.72 earnings per share, exceeding expectations, and announced a quarterly dividend of $2.14 per share.

Zions Bancorporation National Association UT bought a new stake in Snap-On Incorporated (NYSE:SNA - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm bought 2,478 shares of the company's stock, valued at approximately $835,000.

Other institutional investors also recently bought and sold shares of the company. Alpine Bank Wealth Management acquired a new stake in shares of Snap-On during the first quarter worth $25,000. Golden State Wealth Management LLC lifted its stake in shares of Snap-On by 421.1% during the first 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 period. Cullen Frost Bankers Inc. lifted its stake in shares of Snap-On by 248.3% during the first quarter. Cullen Frost Bankers Inc. now owns 101 shares of the company's stock worth $34,000 after buying an additional 72 shares during the period. Opal Wealth Advisors LLC acquired a new stake in shares of Snap-On during the first quarter worth $35,000. Finally, ORG Partners LLC lifted its stake in shares of Snap-On by 150.8% during the first quarter. ORG Partners LLC now owns 158 shares of the company's stock worth $54,000 after buying an additional 95 shares during the period. 84.88% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Snap-On

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

Analyst Ratings Changes

Several research firms have recently commented on SNA. Bank of America lifted their price objective on shares of Snap-On from $265.00 to $285.00 and gave the stock an "underperform" rating in a research note on Friday, July 18th. Barrington Research reiterated an "outperform" rating and set a $350.00 price objective on shares of Snap-On in a research note 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 raised their target price on shares of Snap-On from $329.00 to $347.00 and gave the stock a "neutral" rating in a report on Friday, July 18th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and five have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $356.17.

Snap-On Trading Up 0.2%

Shares of Snap-On stock opened at $321.67 on Friday. 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 firm has a fifty day moving average price of $318.92 and a 200 day moving average price of $326.01. Snap-On Incorporated has a 1 year low of $267.00 and a 1 year high of $373.89. The stock has a market cap of $16.78 billion, a PE ratio of 17.16, a price-to-earnings-growth ratio of 2.24 and a beta of 0.76.

Snap-On (NYSE:SNA - Get Free Report) last released its quarterly earnings data on Thursday, July 17th. The company reported $4.72 earnings per share for the quarter, beating analysts' consensus estimates of $4.61 by $0.11. Snap-On had a net margin of 20.98% and a return on equity of 18.02%. The company had revenue of $1.18 billion during the quarter, compared to analysts' expectations of $1.16 billion. During the same quarter in the previous year, the company earned $5.07 earnings per share. The firm's revenue for the quarter was up .0% on a year-over-year basis. Equities research analysts predict that Snap-On Incorporated will post 19.79 earnings per share for the current year.

Snap-On Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 10th. Shareholders of record on Tuesday, August 19th will be issued a $2.14 dividend. The ex-dividend date of this dividend is Tuesday, August 19th. This represents a $8.56 dividend on an annualized basis and a yield of 2.7%. Snap-On's payout ratio is presently 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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