Snap-on Incorporated (NYSE:SNA) Shares Bought by SouthState Corp

SouthState Corp lifted its position in shares of Snap-on Incorporated (NYSE:SNA) by 7.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 19,226 shares of the company’s stock after acquiring an additional 1,330 shares during the quarter. SouthState Corp’s holdings in Snap-on were worth $5,553,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. BKM Wealth Management LLC purchased a new position in shares of Snap-on during the fourth quarter valued at approximately $33,000. Peoples Bank KS bought a new position in shares of Snap-on in the 3rd quarter worth about $40,000. Exchange Traded Concepts LLC bought a new stake in Snap-on in the 4th quarter valued at about $43,000. Itau Unibanco Holding S.A. acquired a new position in Snap-on during the 3rd quarter valued at about $49,000. Finally, Orion Capital Management LLC acquired a new position in Snap-on during the 3rd quarter valued at about $49,000. 84.88% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. Tigress Financial reissued a “buy” rating and issued a $336.00 target price on shares of Snap-on in a research report on Friday, February 16th. Barrington Research reiterated an “outperform” rating and issued a $325.00 target price on shares of Snap-on in a research note on Monday, April 15th. Roth Mkm restated a “buy” rating and issued a $324.00 price objective on shares of Snap-on in a research note on Thursday, April 18th. Finally, Robert W. Baird reduced their price objective 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, April 19th. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $316.75.

Insider Activity

In other news, VP Richard Thomas Miller sold 704 shares of Snap-on stock in a transaction dated Thursday, March 28th. The stock was sold at an average price of $298.16, for a total transaction of $209,904.64. Following the transaction, the vice president now 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 the SEC website. In other Snap-on news, SVP Jesus Arregui sold 2,562 shares of the business’s stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $269.35, for a total value of $690,074.70. Following the sale, the senior vice president now owns 8,663 shares in the company, valued at approximately $2,333,379.05. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Richard Thomas Miller sold 704 shares of the business’s stock in a transaction that occurred on Thursday, March 28th. The shares were sold at an average price of $298.16, for a total value of $209,904.64. Following the completion of the sale, the vice president now owns 3,213 shares in the company, valued at approximately $957,988.08. The disclosure for this sale can be found here. Insiders have sold 49,930 shares of company stock worth $14,089,523 in the last 90 days. Corporate insiders own 4.10% of the company’s stock.

Snap-on Trading Down 0.3 %

SNA stock traded down $0.87 during midday trading on Thursday, reaching $266.87. The stock had a trading volume of 339,432 shares, compared to its average volume of 314,209. The business has a fifty day simple moving average of $284.33 and a two-hundred day simple moving average of $279.13. The company has a quick ratio of 2.83, a current ratio of 3.82 and a debt-to-equity ratio of 0.23. The firm has a market cap of $14.07 billion, a price-to-earnings ratio of 14.02, a PEG ratio of 1.85 and a beta of 1.00. Snap-on Incorporated has a twelve month low of $247.68 and a twelve month high of $298.49.

Snap-on (NYSE:SNA) last announced its quarterly earnings data on Thursday, April 18th. The company reported $4.75 EPS for the quarter, topping analysts’ consensus estimates of $4.66 by $0.09. Snap-on had a return on equity of 20.46% and a net margin of 21.69%. The firm had revenue of $1.18 billion during the quarter, compared to analyst estimates of $1.20 billion. During the same period last year, the company earned $4.60 earnings per share. The company’s revenue was down .1% on a year-over-year basis. As a group, research analysts expect that Snap-on Incorporated will post 19.02 EPS for the current fiscal year.

Snap-on Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 10th. Stockholders of record on Monday, May 20th will be issued a dividend of $1.86 per share. This represents a $7.44 annualized dividend and a dividend yield of 2.79%. The ex-dividend date is Friday, May 17th. Snap-on’s dividend payout ratio (DPR) is presently 39.03%.

Snap-on 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.