Snap-on Incorporated (NYSE:SNA) Shares Bought by Korea Investment CORP

Korea Investment CORP lifted its holdings in shares of Snap-on Incorporated (NYSE:SNA) by 25.2% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 48,692 shares of the company’s stock after buying an additional 9,794 shares during the quarter. Korea Investment CORP’s holdings in Snap-on were worth $16,530,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. UMB Bank n.a. lifted its position in Snap-on by 70.5% during the 4th quarter. UMB Bank n.a. now owns 75 shares of the company’s stock worth $25,000 after acquiring an additional 31 shares during the period. SBI Securities Co. Ltd. acquired a new stake in shares of Snap-on during the fourth quarter worth $26,000. Migdal Insurance & Financial Holdings Ltd. acquired a new position in Snap-on in the 4th quarter valued at $28,000. Brooklyn Investment Group purchased a new position in Snap-on during the 3rd quarter worth $39,000. Finally, CoreFirst Bank & Trust acquired a new stake in shares of Snap-on in the 4th quarter worth $40,000. Hedge funds and other institutional investors own 84.88% of the company’s stock.

Snap-on Trading Down 1.9 %

Shares of Snap-on stock opened at $329.09 on Friday. The company has a 50-day moving average of $340.12 and a two-hundred day moving average of $333.51. The stock has a market cap of $17.25 billion, a PE ratio of 16.88, a price-to-earnings-growth ratio of 2.21 and a beta of 0.99. 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 Incorporated has a 12-month low of $252.98 and a 12-month high of $373.90.

Snap-on (NYSE:SNA) last issued its quarterly earnings data 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 return on equity of 19.20% and a net margin of 21.71%. During the same quarter in the previous year, the firm earned $4.75 earnings per share. On average, research analysts anticipate that Snap-on Incorporated will post 19.79 EPS for the current fiscal year.

Snap-on Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on SNA. Tigress Financial boosted their price target on shares of Snap-on from $385.00 to $390.00 and gave the stock a “buy” rating in a research note on Tuesday, March 4th. Barrington Research reissued an “outperform” rating and set a $350.00 target price on shares of Snap-on in a research note on Monday, February 10th. One analyst has rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $346.40.

Insiders Place Their Bets

In related news, CFO Aldo John Pagliari sold 6,860 shares of Snap-on stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $339.05, for a total transaction of $2,325,883.00. Following the completion of the sale, the chief financial officer now owns 107,096 shares in the company, valued at approximately $36,310,898.80. This trade represents a 6.02 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Nicholas T. Pinchuk sold 22,700 shares of the company’s stock in a transaction dated 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 owns 793,932 shares in the company, valued at approximately $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. Over the last quarter, insiders sold 36,011 shares of company stock worth $12,116,859. Insiders own 3.90% of the company’s stock.

Snap-on Company 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.