Invesco Ltd. Increases Holdings in Snap-on Incorporated (NYSE:SNA)

Invesco Ltd. grew its holdings in Snap-on Incorporated (NYSE:SNA) by 0.3% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 637,318 shares of the company’s stock after buying an additional 1,979 shares during the quarter. Invesco Ltd. owned approximately 1.21% of Snap-on worth $216,357,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the business. Bleakley Financial Group LLC purchased a new stake in Snap-on in the fourth quarter worth $512,000. Vest Financial LLC boosted its stake in shares of Snap-on by 2.4% during the 4th quarter. Vest Financial LLC now owns 102,987 shares of the company’s stock valued at $34,962,000 after purchasing an additional 2,460 shares in the last quarter. Sanctuary Advisors LLC increased its position in shares of Snap-on by 3.6% during the third quarter. Sanctuary Advisors LLC now owns 45,783 shares of the company’s stock valued at $13,264,000 after buying an additional 1,605 shares during the period. World Investment Advisors LLC bought a new position in Snap-on in the third quarter worth about $19,291,000. Finally, Avanza Fonder AB bought a new stake in Snap-on during the 4th quarter valued at approximately $1,936,000. Hedge funds and other institutional investors own 84.88% of the company’s stock.

Insider Buying and Selling at Snap-on

In related news, CFO Aldo John Pagliari sold 6,860 shares of the firm’s stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $339.05, for a total value of $2,325,883.00. Following the transaction, the chief financial officer now directly 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Jesus Arregui sold 6,451 shares of Snap-on 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 transaction, the senior vice president now owns 257 shares in the company, valued at $86,817.17. This trade represents a 96.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 36,011 shares of company stock valued at $12,116,859. 3.90% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the company. Longbow Research raised Snap-on from a “neutral” rating to a “buy” rating and set a $400.00 target price for the company in a research report on Monday, March 31st. Tigress Financial boosted their target price on Snap-on from $385.00 to $390.00 and gave the stock a “buy” rating in a report on Tuesday, March 4th. Finally, Barrington Research reiterated an “outperform” rating and issued a $350.00 target price on shares of Snap-on in a research note on Friday. One research analyst has rated the stock with a sell rating, one has issued a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $355.33.

Snap-on Price Performance

NYSE SNA opened at $336.50 on Friday. The company has a debt-to-equity ratio of 0.22, a quick ratio of 3.17 and a current ratio of 4.15. The company has a market capitalization of $17.64 billion, a price-to-earnings ratio of 17.26, a PEG ratio of 2.21 and a beta of 0.84. The stock has a 50-day moving average of $333.58 and a 200 day moving average of $336.83. Snap-on Incorporated has a one year low of $252.98 and a one year high of $373.90.

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

Snap-on Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Monday, February 24th were given a dividend of $2.14 per share. This represents a $8.56 dividend on an annualized basis and a yield of 2.54%. The ex-dividend date of this dividend was Monday, February 24th. Snap-on’s dividend payout ratio (DPR) is presently 43.90%.

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.