Mizuho Bank Ltd. Takes Position in Snap-on Incorporated (NYSE:SNA)

Mizuho Bank Ltd. acquired a new position in Snap-on Incorporated (NYSE:SNA) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 180 shares of the company’s stock, valued at approximately $61,000.

Several other institutional investors also recently bought and sold shares of SNA. UMB Bank n.a. grew its position in shares of 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 buying an additional 31 shares in the last quarter. SBI Securities Co. Ltd. purchased a new stake in Snap-on in the fourth quarter worth about $26,000. Migdal Insurance & Financial Holdings Ltd. bought a new position in Snap-on during the 4th quarter worth about $28,000. CoreFirst Bank & Trust purchased a new position in Snap-on during the 4th quarter valued at about $40,000. Finally, TCTC Holdings LLC raised its holdings in shares of Snap-on by 41.3% in the 4th 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 currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the stock. Tigress Financial increased their price objective on shares of Snap-on from $385.00 to $390.00 and gave the company a “buy” rating in a research note on Tuesday, March 4th. Barrington Research reiterated an “outperform” rating and issued a $350.00 price target on shares of Snap-on in a report on Monday, February 10th. Finally, Longbow Research raised Snap-on from a “neutral” rating to a “buy” rating and set a $400.00 price target for the company in a research report on Monday, March 31st. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $355.33.

Snap-on Price Performance

Shares of SNA opened at $314.98 on Friday. The company has a 50 day moving average of $338.24 and a two-hundred day moving average of $334.98. The company has a quick ratio of 3.17, a current ratio of 4.15 and a debt-to-equity ratio of 0.22. Snap-on Incorporated has a twelve month low of $252.98 and a twelve month high of $373.90. The company has a market cap of $16.51 billion, a price-to-earnings ratio of 16.15, a price-to-earnings-growth ratio of 2.21 and a beta of 0.99.

Snap-on (NYSE:SNA) last posted its quarterly earnings data on Thursday, February 6th. The company reported $4.82 earnings per share for the quarter, topping 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 business posted $4.75 earnings per share. As a group, analysts predict that Snap-on Incorporated will post 19.79 earnings per share for the current fiscal year.

Snap-on Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Stockholders of record on Monday, February 24th were issued a dividend of $2.14 per share. The ex-dividend date of this dividend was Monday, February 24th. This represents a $8.56 annualized dividend and a dividend yield of 2.72%. Snap-on’s dividend payout ratio (DPR) is currently 43.90%.

Insider Buying and Selling

In related news, CEO Nicholas T. Pinchuk sold 22,700 shares of the firm’s stock in a transaction on 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 transaction, the chief executive officer now owns 793,932 shares in the company, valued at $266,221,278.24. This trade represents a 2.78 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Aldo John Pagliari sold 6,860 shares of the business’s stock in a transaction dated 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 sale, the chief financial officer now owns 107,096 shares in the company, valued at approximately $36,310,898.80. The trade was a 6.02 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 36,011 shares of company stock worth $12,116,859 in the last three months. Corporate 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.