TIAA Trust National Association Acquires 387 Shares of Snap-on Incorporated (NYSE:SNA)

TIAA Trust National Association increased its holdings in Snap-on Incorporated (NYSE:SNA) by 8.9% in the 4th quarter, Holdings Channel reports. The institutional investor owned 4,745 shares of the company’s stock after purchasing an additional 387 shares during the period. TIAA Trust National Association’s holdings in Snap-on were worth $1,611,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also bought and sold shares of SNA. UMB Bank n.a. lifted 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 worth $25,000 after acquiring an additional 31 shares in the last quarter. SBI Securities Co. Ltd. purchased a new stake in Snap-on during the 4th quarter worth about $26,000. Migdal Insurance & Financial Holdings Ltd. bought a new position in Snap-on in the 4th quarter worth about $28,000. Brooklyn Investment Group purchased a new position in Snap-on during the 3rd quarter valued at about $39,000. Finally, CoreFirst Bank & Trust bought a new stake in shares of Snap-on during the fourth quarter valued at about $40,000. 84.88% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have recently commented on SNA. Tigress Financial raised their price objective on shares of Snap-on from $385.00 to $390.00 and gave the company a “buy” rating in a research report on Tuesday, March 4th. Barrington Research reissued an “outperform” rating and issued a $350.00 price target on shares of Snap-on in a report on Monday, February 10th. One equities 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 stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $346.40.

Insiders Place Their Bets

In other Snap-on news, CFO Aldo John Pagliari sold 6,860 shares of the business’s stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $339.05, for a total value of $2,325,883.00. Following the completion of the sale, the chief financial officer now directly owns 107,096 shares of the company’s stock, valued at $36,310,898.80. The trade was a 6.02 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Jesus Arregui sold 6,451 shares of the firm’s stock in a transaction dated 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 directly 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. 4.10% of the stock is owned by insiders.

Snap-on Price Performance

SNA stock opened at $337.39 on Thursday. The firm has a 50 day simple moving average of $340.71 and a two-hundred day simple moving average of $332.73. 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 stock has a market cap of $17.69 billion, a PE ratio of 17.30, a P/E/G ratio of 2.21 and a beta of 0.99. 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 earnings results on Thursday, February 6th. The company reported $4.82 EPS for the quarter, beating analysts’ consensus estimates 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 period in the previous year, the firm earned $4.75 EPS. On average, analysts predict that Snap-on Incorporated will post 19.79 EPS for the current fiscal year.

Snap-on Announces Dividend

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

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.