Korea Investment CORP Raises Stock Holdings in Snap-on Incorporated (NYSE:SNA)

Korea Investment CORP boosted its stake in shares of Snap-on Incorporated (NYSE:SNA) by 25.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 48,692 shares of the company’s stock after buying an additional 9,794 shares during the quarter. Korea Investment CORP owned 0.09% of Snap-on worth $16,530,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in SNA. Greenleaf Trust lifted its stake in Snap-on by 3.1% during the fourth quarter. Greenleaf Trust now owns 1,013 shares of the company’s stock worth $344,000 after purchasing an additional 30 shares in the last quarter. UMB Bank n.a. raised its holdings in shares of Snap-on by 70.5% in the 4th quarter. UMB Bank n.a. now owns 75 shares of the company’s stock valued at $25,000 after buying an additional 31 shares during the period. WCM Investment Management LLC lifted its stake in Snap-on by 4.5% during the 4th quarter. WCM Investment Management LLC now owns 727 shares of the company’s stock worth $247,000 after acquiring an additional 31 shares in the last quarter. New York Life Investment Management LLC boosted its holdings in Snap-on by 0.4% during the 4th quarter. New York Life Investment Management LLC now owns 7,106 shares of the company’s stock valued at $2,412,000 after acquiring an additional 31 shares during the period. Finally, Inspire Advisors LLC increased its stake in Snap-on by 1.0% during the fourth quarter. Inspire Advisors LLC now owns 3,382 shares of the company’s stock worth $1,148,000 after purchasing an additional 34 shares during the period. 84.88% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

Snap-on Trading Down 1.9 %

Shares of NYSE:SNA opened at $329.09 on Friday. The company has a market cap of $17.25 billion, a PE ratio of 16.88, a P/E/G ratio of 2.21 and a beta of 0.99. The company’s 50 day moving average is $340.12 and its two-hundred day moving average is $333.51. Snap-on Incorporated has a 52 week low of $252.98 and a 52 week high of $373.90. The company has a current ratio of 4.15, a quick ratio of 3.17 and a debt-to-equity ratio of 0.22.

Snap-on (NYSE:SNA) last posted its quarterly earnings results on Thursday, February 6th. The company reported $4.82 earnings per share for the quarter, beating analysts’ consensus estimates 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 previous year, the firm earned $4.75 EPS. Equities analysts predict that Snap-on Incorporated will post 19.79 earnings per share for the current fiscal year.

Snap-on Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Monday, February 24th were paid a dividend of $2.14 per share. This represents a $8.56 annualized dividend and a yield of 2.60%. The ex-dividend date was Monday, February 24th. Snap-on’s payout ratio is 43.90%.

Insider Activity at Snap-on

In other news, SVP Jesus Arregui sold 6,451 shares of the company’s stock in a transaction on Monday, February 10th. The shares were sold at an average price of $337.81, for a total value of $2,179,212.31. Following the completion of the transaction, the senior vice president now owns 257 shares in the company, valued at approximately $86,817.17. This represents a 96.17 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Nicholas T. Pinchuk sold 22,700 shares of the stock in a transaction on Thursday, March 27th. The shares were sold at an average price of $335.32, for a total transaction of $7,611,764.00. Following the completion of the transaction, the chief executive officer now directly owns 793,932 shares in the company, valued at $266,221,278.24. This trade represents a 2.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 36,011 shares of company stock valued at $12,116,859 over the last three months. 3.90% of the stock is owned by corporate 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.