Itau Unibanco Holding S.A. Purchases 2,257 Shares of Snap-on Incorporated (NYSE:SNA)

Itau Unibanco Holding S.A. boosted its stake in Snap-on Incorporated (NYSE:SNA - Free Report) by 136.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,908 shares of the company's stock after purchasing an additional 2,257 shares during the period. Itau Unibanco Holding S.A.'s holdings in Snap-on were worth $1,327,000 at the end of the most recent reporting period.

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

Snap-on Stock Performance

Shares of NYSE:SNA traded down $3.32 during midday trading on Tuesday, reaching $310.44. 115,955 shares of the company's stock traded hands, compared to its average volume of 358,105. Snap-on Incorporated has a one year low of $252.98 and a one year high of $373.90. The stock has a 50 day moving average of $325.00 and a 200 day moving average of $339.24. The company has a debt-to-equity ratio of 0.22, a quick ratio of 3.17 and a current ratio of 4.15. The company has a market cap of $16.23 billion, a price-to-earnings ratio of 15.88, a P/E/G ratio of 2.21 and a beta of 0.84.

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

Snap-on Dividend Announcement

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 $2.14 dividend. The ex-dividend date of this dividend is Tuesday, May 20th. This represents a $8.56 annualized dividend and a yield of 2.76%. Snap-on's payout ratio is presently 44.82%.

Insider Transactions at Snap-on

In other news, SVP Jesus Arregui sold 6,451 shares of the firm's stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $337.81, for a total value of $2,179,212.31. Following the transaction, the senior vice president now owns 257 shares of the company's stock, valued at $86,817.17. This trade represents a 96.17 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Aldo John Pagliari sold 6,860 shares of the business's stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $339.05, for a total value of $2,325,883.00. Following the transaction, the chief financial officer now owns 107,096 shares of the company's stock, valued at approximately $36,310,898.80. This trade represents a 6.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 36,011 shares of company stock worth $12,116,859 in the last 90 days. 3.90% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the stock. Barrington Research reiterated an "outperform" rating and set a $350.00 price target on shares of Snap-on in a research report on Thursday, April 17th. Robert W. Baird dropped their target price on shares of Snap-on from $349.00 to $320.00 and set a "neutral" rating on the stock in a report on Monday, April 21st. Tigress Financial lifted their price target on shares of Snap-on from $385.00 to $390.00 and gave the company a "buy" rating in a research report on Tuesday, March 4th. StockNews.com lowered shares of Snap-on from a "buy" rating to a "hold" rating in a report on Friday, April 18th. Finally, Longbow Research upgraded Snap-on from a "neutral" rating to a "buy" rating and set a $400.00 price target on the stock in a research note on Monday, March 31st. One analyst has rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, Snap-on presently has a consensus rating of "Hold" and an average price target of $350.83.

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.