Snap-on Incorporated (NYSE:SNA) Position Increased by Hsbc Holdings PLC

Hsbc Holdings PLC raised its holdings in shares of Snap-on Incorporated (NYSE:SNA - Free Report) by 19.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 498,626 shares of the company's stock after purchasing an additional 79,791 shares during the quarter. Hsbc Holdings PLC owned 0.95% of Snap-on worth $169,302,000 at the end of the most recent reporting period.

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

Insider Transactions at Snap-on

In other Snap-on news, CFO Aldo John Pagliari sold 6,860 shares of the stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $339.05, for a total transaction of $2,325,883.00. Following the transaction, the chief financial officer now directly owns 107,096 shares in the company, valued at $36,310,898.80. This represents a 6.02 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Nicholas T. Pinchuk sold 22,700 shares of Snap-on stock in a transaction dated Thursday, March 27th. The stock was sold at an average price of $335.32, for a total value of $7,611,764.00. Following the completion of the transaction, the chief executive officer now owns 793,932 shares of the company's stock, valued at $266,221,278.24. This trade represents a 2.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 36,011 shares of company stock valued at $12,116,859 over the last 90 days. Corporate insiders own 3.90% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have recently commented on SNA. Longbow Research upgraded Snap-on from a "neutral" rating to a "buy" rating and set a $400.00 target price on the stock in a research report on Monday, March 31st. Barrington Research restated an "outperform" rating and issued a $350.00 price objective on shares of Snap-on in a report on Thursday, April 17th. Tigress Financial lifted their target price on Snap-on from $385.00 to $390.00 and gave the company a "buy" rating in a report on Tuesday, March 4th. StockNews.com downgraded shares of Snap-on from a "buy" rating to a "hold" rating in a research report on Friday, April 18th. Finally, Robert W. Baird reduced their price objective on Snap-on from $349.00 to $320.00 and set a "neutral" rating for the company in a research note on Monday, April 21st. One analyst has rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, Snap-on currently has an average rating of "Hold" and an average target price of $350.83.

Snap-on Price Performance

NYSE SNA traded up $0.06 during mid-day trading on Monday, hitting $308.82. The stock had a trading volume of 65,633 shares, compared to its average volume of 356,557. The company has a market cap of $16.15 billion, a price-to-earnings ratio of 15.81, a P/E/G ratio of 2.21 and a beta of 0.84. The company has a quick ratio of 3.17, a current ratio of 4.15 and a debt-to-equity ratio of 0.22. The company has a 50 day simple moving average of $328.13 and a 200 day simple moving average of $338.95. Snap-on Incorporated has a 52-week low of $252.98 and a 52-week high of $373.90.

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

Snap-on Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Tuesday, May 20th will be given a dividend of $2.14 per share. The ex-dividend date is Tuesday, May 20th. This represents a $8.56 dividend on an annualized basis and a yield of 2.77%. Snap-on's dividend payout ratio (DPR) is 44.82%.

About Snap-on

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.