Diversified Trust Co Acquires 260 Shares of Snap-on Incorporated (NYSE:SNA)

Diversified Trust Co lifted its holdings in Snap-on Incorporated (NYSE:SNA) by 7.4% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 3,755 shares of the company’s stock after purchasing an additional 260 shares during the period. Diversified Trust Co’s holdings in Snap-on were worth $1,112,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of SNA. Confluence Investment Management LLC bought a new stake in Snap-on during the 1st quarter valued at $173,451,000. Norges Bank purchased a new position in Snap-on in the fourth quarter valued at about $145,665,000. Nordea Investment Management AB raised its holdings in Snap-on by 52.8% in the fourth quarter. Nordea Investment Management AB now owns 864,565 shares of the company’s stock worth $249,743,000 after purchasing an additional 298,727 shares in the last quarter. Benjamin F. Edwards & Company Inc. lifted its position in shares of Snap-on by 1,416.5% during the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 147,657 shares of the company’s stock valued at $42,649,000 after buying an additional 137,920 shares during the last quarter. Finally, International Assets Investment Management LLC boosted its holdings in shares of Snap-on by 31,080.3% in the 4th quarter. International Assets Investment Management LLC now owns 74,521 shares of the company’s stock valued at $21,525,000 after buying an additional 74,282 shares in the last quarter. 84.88% of the stock is currently owned by institutional investors.

Snap-on Trading Down 1.7 %

Shares of Snap-on stock opened at $256.90 on Tuesday. Snap-on Incorporated has a 12-month low of $249.84 and a 12-month high of $298.49. The firm’s 50 day simple moving average is $270.38 and its two-hundred day simple moving average is $279.69. The company has a current ratio of 3.82, a quick ratio of 2.83 and a debt-to-equity ratio of 0.23. The firm has a market capitalization of $13.54 billion, a price-to-earnings ratio of 13.48, a PEG ratio of 1.81 and a beta of 0.98.

Snap-on (NYSE:SNA) last issued its earnings results on Thursday, April 18th. The company reported $4.75 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.66 by $0.09. The company had revenue of $1.18 billion during the quarter, compared to analyst estimates of $1.20 billion. Snap-on had a return on equity of 20.46% and a net margin of 21.69%. The firm’s quarterly revenue was down .1% on a year-over-year basis. During the same quarter last year, the business posted $4.60 EPS. Analysts predict that Snap-on Incorporated will post 19.01 EPS for the current year.

Snap-on Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 10th. Investors of record on Monday, May 20th were given a $1.86 dividend. The ex-dividend date of this dividend was Friday, May 17th. This represents a $7.44 dividend on an annualized basis and a yield of 2.90%. Snap-on’s dividend payout ratio is currently 39.03%.

Insider Buying and Selling

In other news, CFO Aldo John Pagliari sold 5,978 shares of the company’s stock in a transaction on Tuesday, May 21st. The shares were sold at an average price of $276.86, for a total value of $1,655,069.08. Following the sale, the chief financial officer now directly owns 97,699 shares of the company’s stock, valued at approximately $27,048,945.14. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CEO Nicholas T. Pinchuk sold 24,220 shares of the business’s stock in a transaction dated Tuesday, June 4th. The stock was sold at an average price of $266.80, for a total value of $6,461,896.00. Following the completion of the transaction, the chief executive officer now owns 750,663 shares of the company’s stock, valued at approximately $200,276,888.40. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Aldo John Pagliari sold 5,978 shares of the firm’s stock in a transaction dated Tuesday, May 21st. The stock was sold at an average price of $276.86, for a total value of $1,655,069.08. Following the sale, the chief financial officer now directly owns 97,699 shares in the company, valued at $27,048,945.14. The disclosure for this sale can be found here. In the last quarter, insiders have sold 38,632 shares of company stock worth $10,353,409. 4.10% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

SNA has been the subject of several recent analyst reports. Barrington Research reiterated an “outperform” rating and set a $325.00 price objective on shares of Snap-on in a research note on Wednesday, May 22nd. Robert W. Baird decreased their price objective on Snap-on from $295.00 to $282.00 and set a “neutral” rating for the company in a report on Friday, April 19th. Finally, Roth Mkm reissued a “buy” rating and issued a $324.00 price objective on shares of Snap-on in a research report on Thursday, April 18th. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $316.75.

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.