Ossiam Buys 30,154 Shares of Snap-on Incorporated (NYSE:SNA)

Ossiam boosted its stake in shares of Snap-on Incorporated (NYSE:SNA) by 931.3% in the 4th quarter, Holdings Channel.com reports. The firm owned 33,392 shares of the company’s stock after buying an additional 30,154 shares during the quarter. Ossiam’s holdings in Snap-on were worth $11,336,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently bought and sold shares of the company. UMB Bank n.a. raised its position in shares of Snap-on by 70.5% during the fourth 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 last quarter. SBI Securities Co. Ltd. bought a new position in Snap-on during the fourth quarter valued at about $26,000. Migdal Insurance & Financial Holdings Ltd. acquired a new position in Snap-on in the 4th quarter valued at approximately $28,000. CoreFirst Bank & Trust bought a new stake in shares of Snap-on during the fourth quarter valued at approximately $40,000. Finally, TCTC Holdings LLC raised its stake in shares of Snap-on by 41.3% in the fourth quarter. TCTC Holdings LLC now owns 147 shares of the company’s stock valued at $50,000 after purchasing an additional 43 shares in the last quarter. 84.88% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, SVP Jesus Arregui sold 6,451 shares of the company’s stock in a transaction on Monday, February 10th. The stock was 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 owns 257 shares of the company’s stock, valued at $86,817.17. This represents a 96.17 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Nicholas T. Pinchuk sold 22,700 shares of Snap-on stock in a transaction dated Thursday, March 27th. The stock was sold at an average price of $335.32, for a total value of $7,611,764.00. Following the completion of the sale, the chief executive officer now owns 793,932 shares of the company’s stock, valued at approximately $266,221,278.24. The trade was 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 worth $12,116,859 in the last quarter. Insiders own 3.90% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. StockNews.com lowered shares of Snap-on from a “buy” rating to a “hold” rating in a report on Friday. Barrington Research reaffirmed an “outperform” rating and set a $350.00 price objective on shares of Snap-on in a report on Thursday. Robert W. Baird dropped their target price on Snap-on from $358.00 to $349.00 and set a “neutral” rating for the company in a report on Tuesday. Tigress Financial upped their price target on Snap-on from $385.00 to $390.00 and gave the company a “buy” rating in a research report on Tuesday, March 4th. Finally, Longbow Research raised Snap-on from a “neutral” rating to a “buy” rating and set a $400.00 price objective for the company in a report on Monday, March 31st. One investment analyst has rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $355.67.

Snap-on Stock Down 8.1 %

NYSE SNA opened at $305.16 on Friday. The company has a debt-to-equity ratio of 0.22, a current ratio of 4.15 and a quick ratio of 3.17. The firm has a market cap of $16.00 billion, a PE ratio of 15.65, a price-to-earnings-growth ratio of 2.21 and a beta of 0.84. The stock’s 50 day simple moving average is $331.66 and its 200 day simple moving average is $337.68. Snap-on Incorporated has a one year low of $252.98 and a one year high of $373.90.

Snap-on (NYSE:SNA) last released its quarterly earnings results on Thursday, April 17th. The company reported $4.51 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.81 by ($0.30). The business had revenue of $1.14 billion during the quarter, compared to the consensus estimate of $1.20 billion. Snap-on had a net margin of 21.71% and a return on equity of 19.20%. During the same period in the prior year, the firm earned $4.91 earnings per share. As a group, sell-side analysts forecast that Snap-on Incorporated will post 19.79 earnings per share for the current fiscal year.

Snap-on Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Monday, February 24th were issued a $2.14 dividend. This represents a $8.56 dividend on an annualized basis and a dividend yield of 2.81%. The ex-dividend date of this dividend was Monday, February 24th. Snap-on’s dividend payout ratio is currently 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.