DekaBank Deutsche Girozentrale Cuts Stock Holdings in Snap-On Incorporated $SNA

DekaBank Deutsche Girozentrale decreased its holdings in shares of Snap-On Incorporated (NYSE:SNA) by 0.8% during the second quarter, according to its most recent filing with the SEC. The firm owned 415,921 shares of the company’s stock after selling 3,525 shares during the period. DekaBank Deutsche Girozentrale’s holdings in Snap-On were worth $129,142,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Alpine Bank Wealth Management bought a new stake in shares of Snap-On in the 1st quarter valued at about $25,000. Ameritas Advisory Services LLC bought a new stake in shares of Snap-On in the 2nd quarter valued at about $30,000. Golden State Wealth Management LLC boosted its holdings in shares of Snap-On by 421.1% in the 1st quarter. Golden State Wealth Management LLC now owns 99 shares of the company’s stock valued at $33,000 after buying an additional 80 shares in the last quarter. Cullen Frost Bankers Inc. boosted its holdings in shares of Snap-On by 248.3% in the 1st quarter. Cullen Frost Bankers Inc. now owns 101 shares of the company’s stock valued at $34,000 after buying an additional 72 shares in the last quarter. Finally, Ransom Advisory Ltd bought a new stake in shares of Snap-On in the 1st quarter valued at about $34,000. 84.88% of the stock is currently owned by institutional investors.

Snap-On Stock Performance

Shares of NYSE SNA opened at $340.76 on Tuesday. The company has a current ratio of 4.40, a quick ratio of 3.37 and a debt-to-equity ratio of 0.20. Snap-On Incorporated has a 12 month low of $289.81 and a 12 month high of $373.89. The company has a 50 day simple moving average of $333.16 and a two-hundred day simple moving average of $323.86. The stock has a market cap of $17.72 billion, a price-to-earnings ratio of 17.87, a PEG ratio of 2.36 and a beta of 0.78.

Snap-On (NYSE:SNA) last announced its quarterly earnings data on Thursday, October 16th. The company reported $4.71 EPS for the quarter, beating the consensus estimate of $4.59 by $0.12. Snap-On had a net margin of 21.08% and a return on equity of 17.71%. The business had revenue of $1.19 billion during the quarter, compared to analysts’ expectations of $1.16 billion. During the same period in the previous year, the business posted $4.70 EPS. The business’s quarterly revenue was up 3.8% compared to the same quarter last year. As a group, analysts predict that Snap-On Incorporated will post 19.79 earnings per share for the current year.

Snap-On Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 10th. Stockholders of record on Tuesday, August 19th were issued a dividend of $2.14 per share. This represents a $8.56 annualized dividend and a dividend yield of 2.5%. The ex-dividend date of this dividend was Tuesday, August 19th. Snap-On’s payout ratio is 44.89%.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. Robert W. Baird raised their price target on shares of Snap-On from $355.00 to $365.00 and gave the company a “neutral” rating in a report on Friday. Barrington Research reiterated an “outperform” rating and issued a $350.00 target price on shares of Snap-On in a research note on Wednesday, October 15th. Wall Street Zen upgraded shares of Snap-On from a “hold” rating to a “buy” rating in a research note on Saturday. Roth Capital reiterated a “buy” rating and issued a $385.00 target price on shares of Snap-On in a research note on Friday. Finally, Bank of America lifted their target price on shares of Snap-On from $265.00 to $285.00 and gave the stock an “underperform” rating in a research note on Friday, July 18th. Six analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Snap-On currently has an average rating of “Moderate Buy” and a consensus price target of $363.57.

Insider Activity at Snap-On

In other news, CEO Nicholas T. Pinchuk sold 23,042 shares of Snap-On stock in a transaction that occurred on Monday, August 11th. The shares were sold at an average price of $320.88, for a total transaction of $7,393,716.96. Following the completion of the transaction, the chief executive officer directly owned 815,219 shares of the company’s stock, valued at $261,587,472.72. The trade was a 2.75% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Aldo John Pagliari sold 4,731 shares of Snap-On stock in a transaction that occurred on Thursday, August 14th. The shares were sold at an average price of $327.38, for a total transaction of $1,548,834.78. Following the transaction, the chief financial officer directly owned 111,667 shares of the company’s stock, valued at approximately $36,557,542.46. This trade represents a 4.06% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 27,898 shares of company stock valued at $8,983,203. Insiders own 3.90% of the company’s stock.

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.