J. Safra Sarasin Holding AG Lowers Stock Holdings in Snap-on Incorporated (NYSE:SNA)

J. Safra Sarasin Holding AG cut its holdings in Snap-on Incorporated (NYSE:SNA - Free Report) by 17.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 4,654 shares of the company's stock after selling 993 shares during the period. J. Safra Sarasin Holding AG's holdings in Snap-on were worth $1,580,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the business. Barclays PLC lifted its holdings in Snap-on by 1.8% during the third quarter. Barclays PLC now owns 100,262 shares of the company's stock valued at $29,044,000 after purchasing an additional 1,803 shares in the last quarter. Pine Valley Investments Ltd Liability Co bought a new position in Snap-on in the 3rd quarter worth $208,000. World Investment Advisors LLC purchased a new stake in Snap-on in the 3rd quarter worth $19,291,000. Wilmington Savings Fund Society FSB raised its holdings in Snap-on by 37.0% during the third quarter. Wilmington Savings Fund Society FSB now owns 5,097 shares of the company's stock valued at $1,477,000 after acquiring an additional 1,377 shares during the period. Finally, Synovus Financial Corp lifted its position in shares of Snap-on by 4.5% in the third quarter. Synovus Financial Corp now owns 4,179 shares of the company's stock valued at $1,210,000 after acquiring an additional 180 shares in the last quarter. Hedge funds and other institutional investors own 84.88% of the company's stock.

Insider Activity

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

Wall Street Analysts Forecast Growth

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

Snap-on Price Performance

Shares of NYSE:SNA traded up $0.05 on Monday, reaching $308.81. The company's stock had a trading volume of 65,633 shares, compared to its average volume of 356,557. The company has a 50-day simple moving average of $328.13 and a 200 day simple moving average of $338.95. 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 $16.15 billion, a P/E ratio of 15.81, a PEG ratio of 2.21 and a beta of 0.84. 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 issued its quarterly earnings data 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). The company had revenue of $1.14 billion for the quarter, compared to the consensus estimate of $1.20 billion. Snap-on had a return on equity of 19.20% and a net margin of 21.71%. During the same period in the previous year, the firm earned $4.91 earnings per share. 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 company also recently disclosed 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. This represents a $8.56 dividend on an annualized basis and a yield of 2.77%. The ex-dividend date is Tuesday, May 20th. 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.