US Bancorp DE Increases Stake in Snap-on (SNA)

US Bancorp DE grew its holdings in Snap-on (NYSE:SNA) by 1.2% in the first quarter, according to its most recent disclosure with the SEC. The fund owned 61,645 shares of the company’s stock after buying an additional 715 shares during the period. US Bancorp DE owned 0.11% of Snap-on worth $9,095,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. MetLife Investment Advisors LLC purchased a new stake in shares of Snap-on in the fourth quarter valued at about $3,074,000. D.B. Root & Company LLC acquired a new position in shares of Snap-on during the fourth quarter worth about $229,000. Comerica Bank increased its stake in shares of Snap-on by 20.4% during the fourth quarter. Comerica Bank now owns 20,827 shares of the company’s stock worth $3,806,000 after acquiring an additional 3,523 shares during the period. Brandywine Global Investment Management LLC increased its stake in shares of Snap-on by 2.8% during the fourth quarter. Brandywine Global Investment Management LLC now owns 52,130 shares of the company’s stock worth $9,087,000 after acquiring an additional 1,440 shares during the period. Finally, Sterling Capital Management LLC acquired a new position in shares of Snap-on during the fourth quarter worth about $21,130,000. 99.40% of the stock is owned by institutional investors and hedge funds.

Shares of Snap-on opened at $154.54 on Tuesday, according to Marketbeat.com. The company has a current ratio of 2.28, a quick ratio of 1.57 and a debt-to-equity ratio of 0.31. Snap-on has a twelve month low of $140.83 and a twelve month high of $185.47. The stock has a market cap of $8.51 billion, a price-to-earnings ratio of 15.27, a P/E/G ratio of 1.25 and a beta of 1.16.

Snap-on (NYSE:SNA) last issued its earnings results on Thursday, April 19th. The company reported $2.79 earnings per share for the quarter, topping the consensus estimate of $2.73 by $0.06. Snap-on had a net margin of 15.50% and a return on equity of 20.63%. The company had revenue of $935.50 million for the quarter, compared to analyst estimates of $926.52 million. During the same period in the prior year, the business posted $2.39 earnings per share. The firm’s revenue for the quarter was up 5.5% compared to the same quarter last year. equities analysts anticipate that Snap-on will post 11.64 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Friday, June 8th. Shareholders of record on Monday, May 21st will be given a dividend of $0.82 per share. The ex-dividend date is Friday, May 18th. This represents a $3.28 annualized dividend and a yield of 2.12%. Snap-on’s payout ratio is currently 32.41%.

In other Snap-on news, SVP Thomas L. Kassouf sold 96,000 shares of the company’s stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $160.40, for a total transaction of $15,398,400.00. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 4.00% of the company’s stock.

A number of research analysts have recently issued reports on SNA shares. Robert W. Baird reiterated a “buy” rating and set a $220.00 price target (up from $184.00) on shares of Snap-on in a research note on Monday, January 29th. They noted that the move was a valuation call. B. Riley set a $205.00 price target on shares of Snap-on and gave the stock a “buy” rating in a research note on Thursday, February 8th. Zacks Investment Research upgraded shares of Snap-on from a “hold” rating to a “buy” rating and set a $178.00 price target on the stock in a research note on Wednesday, February 14th. Barrington Research reiterated a “buy” rating on shares of Snap-on in a research note on Thursday, March 8th. Finally, Northcoast Research set a $178.00 price target on shares of Snap-on and gave the stock a “buy” rating in a research note on Monday, April 23rd. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and six have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $189.13.

Snap-on Company Profile

Snap-on Incorporated manufactures and markets tools, equipment, diagnostics, and repair information and systems solutions for professional users worldwide. The company operates through Commercial & Industrial Group, Snap-on Tools Group, Repair Systems & Information Group, and Financial Services segments.

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Institutional Ownership by Quarter for Snap-on (NYSE:SNA)

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