Johnson Financial Group Inc. Purchases 24,724 Shares of Snap-On Incorporated $SNA

Johnson Financial Group Inc. increased its holdings in Snap-On Incorporated (NYSE:SNA) by 4,066.4% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 25,332 shares of the company’s stock after acquiring an additional 24,724 shares during the quarter. Johnson Financial Group Inc.’s holdings in Snap-On were worth $8,778,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. First Trust Advisors LP boosted its holdings in shares of Snap-On by 40.7% during the 2nd quarter. First Trust Advisors LP now owns 1,892,708 shares of the company’s stock valued at $588,973,000 after buying an additional 547,527 shares in the last quarter. Norges Bank acquired a new stake in Snap-On in the second quarter valued at approximately $168,010,000. Victory Capital Management Inc. grew its position in shares of Snap-On by 346.0% during the third quarter. Victory Capital Management Inc. now owns 279,484 shares of the company’s stock worth $96,850,000 after purchasing an additional 216,813 shares in the last quarter. Rakuten Investment Management Inc. acquired a new position in shares of Snap-On in the third quarter valued at approximately $61,134,000. Finally, Laurel Wealth Advisors LLC raised its holdings in Snap-On by 21,600.8% in the second quarter. Laurel Wealth Advisors LLC now owns 164,926 shares of the company’s stock valued at $51,322,000 after acquiring an additional 164,166 shares in the last quarter. 84.88% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the stock. Roth Mkm reissued a “buy” rating and issued a $409.00 price target (up from $385.00) on shares of Snap-On in a research note on Tuesday, February 10th. Wall Street Zen lowered shares of Snap-On from a “buy” rating to a “hold” rating in a report on Saturday, February 7th. Weiss Ratings restated a “buy (b)” rating on shares of Snap-On in a report on Wednesday, January 21st. Robert W. Baird set a $375.00 price target on shares of Snap-On in a report on Friday, February 6th. Finally, Tigress Financial upped their target price on shares of Snap-On from $405.00 to $445.00 and gave the stock a “buy” rating in a research report on Friday, February 27th. Five analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $377.33.

Insiders Place Their Bets

In related news, VP June C. Lemerand sold 1,378 shares of the company’s stock in a transaction that occurred on Wednesday, February 25th. The stock was sold at an average price of $387.57, for a total value of $534,071.46. Following the completion of the transaction, the vice president directly owned 2,913 shares of the company’s stock, valued at $1,128,991.41. This represents a 32.11% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Aldo John Pagliari sold 7,043 shares of the company’s stock in a transaction dated Thursday, February 19th. The shares were sold at an average price of $382.05, for a total transaction of $2,690,778.15. Following the transaction, the chief financial officer owned 117,183 shares in the company, valued at approximately $44,769,765.15. The trade was a 5.67% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 39,650 shares of company stock worth $15,210,959. Insiders own 3.90% of the company’s stock.

Snap-On Trading Down 1.6%

NYSE:SNA opened at $364.01 on Friday. The firm has a market cap of $18.90 billion, a price-to-earnings ratio of 18.97, a price-to-earnings-growth ratio of 2.55 and a beta of 0.78. The firm has a 50-day moving average price of $372.52 and a two-hundred day moving average price of $350.90. Snap-On Incorporated has a 52 week low of $289.81 and a 52 week high of $390.13. The company has a debt-to-equity ratio of 0.20, a quick ratio of 3.68 and a current ratio of 4.79.

Snap-On (NYSE:SNA) last posted its quarterly earnings results on Thursday, February 5th. The company reported $4.94 EPS for the quarter, beating the consensus estimate of $4.86 by $0.08. Snap-On had a return on equity of 17.34% and a net margin of 21.44%.The business had revenue of $1.23 billion during the quarter, compared to analysts’ expectations of $1.24 billion. During the same period last year, the firm earned $4.82 EPS. The company’s quarterly revenue was up 2.8% compared to the same quarter last year. On average, equities analysts expect that Snap-On Incorporated will post 19.79 earnings per share for the current fiscal year.

Snap-On Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 10th. Stockholders of record on Tuesday, February 24th were issued a $2.44 dividend. This represents a $9.76 dividend on an annualized basis and a dividend yield of 2.7%. The ex-dividend date was Tuesday, February 24th. Snap-On’s dividend payout ratio (DPR) is currently 50.86%.

Snap-On Company Profile

Snap‑On Incorporated (NYSE: SNA) is a designer, manufacturer and marketer of tools, diagnostic equipment, repair information and shop equipment for professional users. The company’s product range includes hand and power tools, tool storage and cabinets, diagnostic scan tools and software, shop equipment such as lifts and tire changers, and specialized specialty tools for automotive, aviation, marine and industrial applications. Snap‑On also offers information and workflow solutions that combine diagnostic data, repair procedures and parts information to support professional technicians.

Founded in 1920 and headquartered in Kenosha, Wisconsin, Snap‑On has established a long history in the professional tools market.