2,263 Shares in Snap-on Incorporated (NYSE:SNA) Acquired by AIA Group Ltd

AIA Group Ltd bought a new position in shares of Snap-on Incorporated (NYSE:SNA) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 2,263 shares of the company’s stock, valued at approximately $654,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Avantax Planning Partners Inc. increased its holdings in Snap-on by 3.5% during the 3rd quarter. Avantax Planning Partners Inc. now owns 1,131 shares of the company’s stock worth $288,000 after acquiring an additional 38 shares during the period. Phoenix Wealth Advisors grew its stake in Snap-on by 3.1% in the 3rd quarter. Phoenix Wealth Advisors now owns 1,309 shares of the company’s stock worth $334,000 after buying an additional 39 shares in the last quarter. Venturi Wealth Management LLC grew its stake in Snap-on by 17.2% in the 4th quarter. Venturi Wealth Management LLC now owns 272 shares of the company’s stock worth $79,000 after buying an additional 40 shares in the last quarter. Balentine LLC grew its stake in Snap-on by 4.5% in the 2nd quarter. Balentine LLC now owns 1,004 shares of the company’s stock worth $289,000 after buying an additional 43 shares in the last quarter. Finally, Kolinsky Wealth Management LLC grew its stake in Snap-on by 2.9% in the 1st quarter. Kolinsky Wealth Management LLC now owns 1,586 shares of the company’s stock worth $392,000 after buying an additional 44 shares in the last quarter. Institutional investors own 84.88% of the company’s stock.

Snap-on Price Performance

Shares of Snap-on stock opened at $268.80 on Friday. Snap-on Incorporated has a 52-week low of $245.73 and a 52-week high of $298.49. The stock has a market capitalization of $14.20 billion, a price-to-earnings ratio of 14.10, a price-to-earnings-growth ratio of 1.87 and a beta of 0.99. The company has a fifty day moving average of $283.78 and a 200-day moving average of $278.27. The company has a debt-to-equity ratio of 0.23, a quick ratio of 2.81 and a current ratio of 3.82.

Snap-on (NYSE:SNA) last announced its quarterly earnings data on Thursday, April 18th. The company reported $4.75 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.66 by $0.09. Snap-on had a net margin of 21.69% and a return on equity of 20.46%. The company had revenue of $1.18 billion during the quarter, compared to analysts’ expectations of $1.20 billion. During the same quarter in the prior year, the company earned $4.60 EPS. The firm’s revenue was down .1% on a year-over-year basis. Equities research analysts expect that Snap-on Incorporated will post 19.22 EPS for the current year.

Snap-on Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, March 11th. Investors of record on Monday, February 26th were issued a dividend of $1.86 per share. The ex-dividend date was Friday, February 23rd. This represents a $7.44 dividend on an annualized basis and a yield of 2.77%. Snap-on’s dividend payout ratio is currently 39.03%.

Insider Activity at Snap-on

In related news, VP Richard Thomas Miller sold 704 shares of the company’s stock in a transaction on Thursday, March 28th. The shares were sold at an average price of $298.16, for a total transaction of $209,904.64. Following the completion of the sale, the vice president now directly owns 3,213 shares in the company, valued at approximately $957,988.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, CEO Nicholas T. Pinchuk sold 23,514 shares of the company’s stock in a transaction on Tuesday, March 19th. The shares were sold at an average price of $287.48, for a total transaction of $6,759,804.72. Following the completion of the sale, the chief executive officer now directly owns 742,383 shares in the company, valued at approximately $213,420,264.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Richard Thomas Miller sold 704 shares of the company’s stock in a transaction on Thursday, March 28th. The stock was sold at an average price of $298.16, for a total transaction of $209,904.64. Following the completion of the transaction, the vice president now owns 3,213 shares of the company’s stock, valued at $957,988.08. The disclosure for this sale can be found here. Insiders sold 47,368 shares of company stock worth $13,399,449 in the last three months. 4.10% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

SNA has been the subject of a number of research reports. Robert W. Baird cut their price target on shares of Snap-on from $295.00 to $282.00 and set a “neutral” rating for the company in a research note on Friday. Barrington Research reissued an “outperform” rating and issued a $325.00 price target on shares of Snap-on in a research note on Monday, April 15th. Roth Mkm reissued a “buy” rating and issued a $324.00 price target on shares of Snap-on in a research note on Thursday. Finally, Tigress Financial reissued a “buy” rating and issued a $336.00 price target on shares of Snap-on in a research note on Friday, February 16th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $301.40.

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.