Unigestion Holding SA Boosts Stock Position in Snap-on Incorporated (NYSE:SNA)

Unigestion Holding SA increased its position in Snap-on Incorporated (NYSE:SNA) by 3,187.3% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 32,873 shares of the company’s stock after acquiring an additional 31,873 shares during the quarter. Unigestion Holding SA’s holdings in Snap-on were worth $9,524,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in SNA. Aurora Investment Counsel raised its position in shares of Snap-on by 0.9% during the 3rd quarter. Aurora Investment Counsel now owns 3,549 shares of the company’s stock valued at $1,028,000 after purchasing an additional 30 shares during the period. Lake Street Advisors Group LLC lifted its holdings in Snap-on by 3.1% in the 3rd quarter. Lake Street Advisors Group LLC now owns 1,074 shares of the company’s stock worth $311,000 after purchasing an additional 32 shares in the last quarter. Metis Global Partners LLC boosted its stake in Snap-on by 1.9% in the 3rd quarter. Metis Global Partners LLC now owns 1,691 shares of the company’s stock worth $490,000 after purchasing an additional 32 shares during the period. Tradition Wealth Management LLC grew its holdings in Snap-on by 3.1% during the 3rd quarter. Tradition Wealth Management LLC now owns 1,154 shares of the company’s stock valued at $334,000 after buying an additional 35 shares in the last quarter. Finally, Verdence Capital Advisors LLC raised its position in shares of Snap-on by 2.5% during the third quarter. Verdence Capital Advisors LLC now owns 1,526 shares of the company’s stock valued at $442,000 after buying an additional 37 shares during the last quarter. Institutional investors own 84.88% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently weighed in on SNA shares. Barrington Research raised their target price on shares of Snap-on from $325.00 to $350.00 and gave the company an “outperform” rating in a research note on Thursday, October 17th. Tigress Financial raised their price objective on Snap-on from $336.00 to $385.00 and gave the company a “buy” rating in a research report on Friday, October 25th. Bank of America boosted their target price on Snap-on from $255.00 to $280.00 and gave the stock an “underperform” rating in a research report on Friday, October 18th. Roth Mkm raised their price target on Snap-on from $324.00 to $365.00 and gave the company a “buy” rating in a report on Tuesday, October 22nd. Finally, Robert W. Baird upped their price objective on Snap-on from $290.00 to $347.00 and gave the stock a “neutral” rating in a report on Friday, October 18th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, Snap-on has a consensus rating of “Hold” and an average price target of $345.40.

Insider Transactions at Snap-on

In other news, CEO Nicholas T. Pinchuk sold 21,783 shares of the stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $354.83, for a total value of $7,729,261.89. Following the sale, the chief executive officer now directly owns 769,738 shares in the company, valued at approximately $273,126,134.54. This represents a 2.75 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Iain Boyd sold 6,044 shares of the firm’s stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $298.99, for a total value of $1,807,095.56. Following the sale, the vice president now directly owns 10,493 shares of the company’s stock, valued at $3,137,302.07. This represents a 36.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 45,814 shares of company stock worth $15,627,963. 4.10% of the stock is currently owned by insiders.

Snap-on Trading Up 0.1 %

Shares of NYSE SNA opened at $354.78 on Wednesday. Snap-on Incorporated has a 1-year low of $252.98 and a 1-year high of $373.89. The company has a debt-to-equity ratio of 0.22, a current ratio of 4.18 and a quick ratio of 3.14. The business’s 50 day moving average is $336.71 and its two-hundred day moving average is $295.60. The stock has a market capitalization of $18.63 billion, a P/E ratio of 18.26, a PEG ratio of 2.37 and a beta of 0.98.

Snap-on (NYSE:SNA) last released its earnings results on Thursday, October 17th. The company reported $4.70 earnings per share for the quarter, beating the consensus estimate of $4.58 by $0.12. The firm had revenue of $1.15 billion for the quarter, compared to the consensus estimate of $1.16 billion. Snap-on had a return on equity of 19.44% and a net margin of 22.13%. As a group, research analysts expect that Snap-on Incorporated will post 19.05 EPS for the current year.

Snap-on Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Thursday, November 21st were paid a $2.14 dividend. The ex-dividend date was Thursday, November 21st. This represents a $8.56 annualized dividend and a dividend yield of 2.41%. This is an increase from Snap-on’s previous quarterly dividend of $1.86. Snap-on’s dividend payout ratio is currently 44.06%.

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.