Chevy Chase Trust Holdings LLC Has $13.25 Million Position in Snap-on Incorporated (NYSE:SNA)

Chevy Chase Trust Holdings LLC lifted its position in Snap-on Incorporated (NYSE:SNA) by 5.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 44,717 shares of the company’s stock after buying an additional 2,166 shares during the quarter. Chevy Chase Trust Holdings LLC’s holdings in Snap-on were worth $13,246,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in SNA. Nordea Investment Management AB increased its stake in shares of Snap-on by 3.2% during the 1st quarter. Nordea Investment Management AB now owns 891,994 shares of the company’s stock worth $265,217,000 after purchasing an additional 27,429 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in Snap-on by 0.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 773,087 shares of the company’s stock valued at $223,304,000 after acquiring an additional 3,449 shares during the period. Envestnet Asset Management Inc. increased its holdings in shares of Snap-on by 2.3% in the fourth quarter. Envestnet Asset Management Inc. now owns 755,445 shares of the company’s stock valued at $218,203,000 after purchasing an additional 16,972 shares during the last quarter. LSV Asset Management raised its position in shares of Snap-on by 0.6% in the fourth quarter. LSV Asset Management now owns 670,806 shares of the company’s stock valued at $193,756,000 after purchasing an additional 4,010 shares during the period. Finally, Confluence Investment Management LLC bought a new position in shares of Snap-on in the first quarter valued at about $173,451,000. 84.88% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts recently commented on SNA shares. Roth Mkm reiterated a “buy” rating and issued a $324.00 price target on shares of Snap-on in a research note on Thursday, April 18th. Robert W. Baird decreased their target price on Snap-on from $295.00 to $282.00 and set a “neutral” rating on the stock in a research report on Friday, April 19th. Finally, Barrington Research reissued an “outperform” rating and set a $325.00 price target on shares of Snap-on in a report on Wednesday, May 22nd. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, Snap-on has a consensus rating of “Moderate Buy” and a consensus price target of $316.75.

Snap-on Stock Performance

Snap-on stock traded up $3.30 during midday trading on Wednesday, hitting $259.41. The company’s stock had a trading volume of 112,012 shares, compared to its average volume of 296,302. The company has a 50-day moving average price of $268.66 and a two-hundred day moving average price of $278.41. Snap-on Incorporated has a 1-year low of $249.84 and a 1-year high of $298.49. The company has a market cap of $13.68 billion, a price-to-earnings ratio of 13.56, a PEG ratio of 1.78 and a beta of 0.98. The company has a debt-to-equity ratio of 0.23, a current ratio of 3.82 and a quick ratio of 2.83.

Snap-on (NYSE:SNA) last issued its quarterly earnings results on Thursday, April 18th. The company reported $4.75 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.66 by $0.09. The business had revenue of $1.18 billion for the quarter, compared to the consensus estimate of $1.20 billion. Snap-on had a return on equity of 20.46% and a net margin of 21.69%. The firm’s quarterly revenue was down .1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $4.60 earnings per share. As a group, sell-side analysts predict that Snap-on Incorporated will post 19.01 earnings per share for the current year.

Snap-on Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 10th. Investors of record on Monday, May 20th were paid a $1.86 dividend. This represents a $7.44 dividend on an annualized basis and a yield of 2.87%. The ex-dividend date was Friday, May 17th. Snap-on’s dividend payout ratio (DPR) is presently 39.03%.

Insider Buying and Selling

In other Snap-on news, CEO Nicholas T. Pinchuk sold 24,220 shares of the firm’s stock in a transaction dated Tuesday, June 4th. The shares were sold at an average price of $266.80, for a total value of $6,461,896.00. Following the transaction, the chief executive officer now directly owns 750,663 shares of the company’s stock, valued at approximately $200,276,888.40. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other news, CFO Aldo John Pagliari sold 5,978 shares of Snap-on stock in a transaction on Tuesday, May 21st. The stock was sold at an average price of $276.86, for a total value of $1,655,069.08. Following the transaction, the chief financial officer now owns 97,699 shares in the company, valued at approximately $27,048,945.14. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Nicholas T. Pinchuk sold 24,220 shares of Snap-on stock in a transaction dated Tuesday, June 4th. The shares were sold at an average price of $266.80, for a total value of $6,461,896.00. Following the completion of the transaction, the chief executive officer now owns 750,663 shares in the company, valued at approximately $200,276,888.40. The disclosure for this sale can be found here. Insiders sold 38,632 shares of company stock valued at $10,353,409 over the last quarter. 4.10% of the stock is owned by company insiders.

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.