Zurcher Kantonalbank Zurich Cantonalbank Buys 40,045 Shares of Snap-on Incorporated (NYSE:SNA)

Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Snap-on Incorporated (NYSE:SNA) by 151.4% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 66,492 shares of the company’s stock after purchasing an additional 40,045 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Snap-on were worth $22,573,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Personal CFO Solutions LLC acquired a new position in Snap-on during the fourth quarter worth $245,000. Amundi grew its position in shares of Snap-on by 137.0% in the 4th quarter. Amundi now owns 201,207 shares of the company’s stock valued at $68,039,000 after acquiring an additional 116,319 shares during the period. Larson Financial Group LLC increased its stake in shares of Snap-on by 18.0% during the 4th quarter. Larson Financial Group LLC now owns 1,632 shares of the company’s stock worth $554,000 after purchasing an additional 249 shares during the last quarter. Berkshire Asset Management LLC PA bought a new stake in shares of Snap-on in the 4th quarter valued at about $212,000. Finally, Haven Private LLC bought a new stake in shares of Snap-on in the 4th quarter valued at about $535,000. Institutional investors and hedge funds own 84.88% of the company’s stock.

Snap-on Stock Down 1.2 %

Shares of SNA opened at $335.51 on Wednesday. The firm has a market cap of $17.58 billion, a P/E ratio of 17.21, a price-to-earnings-growth ratio of 2.21 and a beta of 0.99. The company has a debt-to-equity ratio of 0.22, a quick ratio of 3.17 and a current ratio of 4.15. Snap-on Incorporated has a 52 week low of $252.98 and a 52 week high of $373.90. The firm’s 50-day simple moving average is $342.21 and its 200 day simple moving average is $328.77.

Snap-on (NYSE:SNA) last posted its earnings results on Thursday, February 6th. The company reported $4.82 EPS for the quarter, beating the consensus estimate of $4.78 by $0.04. Snap-on had a return on equity of 19.20% and a net margin of 21.71%. During the same period in the prior year, the business earned $4.75 EPS. On average, analysts forecast that Snap-on Incorporated will post 19.79 earnings per share for the current year.

Snap-on Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Monday, February 24th were given a dividend of $2.14 per share. This represents a $8.56 annualized dividend and a yield of 2.55%. The ex-dividend date was Monday, February 24th. Snap-on’s payout ratio is 43.90%.

Insiders Place Their Bets

In other news, SVP Jesus Arregui sold 6,451 shares of the firm’s stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $337.81, for a total transaction of $2,179,212.31. Following the transaction, the senior vice president now directly owns 257 shares of the company’s stock, valued at approximately $86,817.17. This trade represents a 96.17 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Aldo John Pagliari sold 6,860 shares of the business’s stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $339.05, for a total value of $2,325,883.00. Following the completion of the sale, the chief financial officer now owns 107,096 shares of the company’s stock, valued at approximately $36,310,898.80. This trade represents a 6.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 20,220 shares of company stock worth $6,906,802 in the last 90 days. Company insiders own 4.10% of the company’s stock.

Wall Street Analysts Forecast Growth

SNA has been the topic of a number of recent analyst reports. Tigress Financial boosted their price target on Snap-on from $385.00 to $390.00 and gave the stock a “buy” rating in a research report on Tuesday, March 4th. Barrington Research reissued an “outperform” rating and set a $350.00 target price on shares of Snap-on in a report on Monday, February 10th. One analyst has rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $346.40.

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.