Snap-on Incorporated (NYSE:SNA) Shares Bought by Chevy Chase Trust Holdings LLC

Chevy Chase Trust Holdings LLC lifted its holdings in shares of Snap-on Incorporated (NYSE:SNA) by 5.1% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 44,717 shares of the company’s stock after buying an additional 2,166 shares during the period. Chevy Chase Trust Holdings LLC owned approximately 0.08% of Snap-on worth $13,246,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in SNA. Bridgefront Capital LLC acquired a new stake in shares of Snap-on in the 4th quarter worth approximately $1,119,000. Rockland Trust Co. acquired a new stake in shares of Snap-on during the first quarter valued at approximately $889,000. Goldman Sachs Group Inc. boosted its stake in Snap-on by 11.8% in the 4th quarter. Goldman Sachs Group Inc. now owns 271,436 shares of the company’s stock worth $78,401,000 after purchasing an additional 28,566 shares during the period. Caprock Group LLC acquired a new stake in Snap-on during the 4th quarter valued at $1,203,000. Finally, Kingsview Wealth Management LLC lifted its holdings in shares of Snap-on by 42.0% in the fourth quarter. Kingsview Wealth Management LLC now owns 26,456 shares of the company’s stock valued at $7,641,000 after purchasing an additional 7,830 shares in the last quarter. 84.88% of the stock is owned by institutional investors.

Snap-on Stock Up 1.3 %

Shares of Snap-on stock traded up $3.30 during trading on Wednesday, hitting $259.41. 112,012 shares of the stock traded hands, compared to its average volume of 296,302. The stock has a market cap of $13.68 billion, a P/E ratio of 13.56, a PEG ratio of 1.78 and a beta of 0.98. The company has a fifty day moving average price of $268.66 and a two-hundred day moving average price of $278.41. Snap-on Incorporated has a twelve month low of $249.84 and a twelve month high of $298.49. The company has a debt-to-equity ratio of 0.23, a quick ratio of 2.83 and a current ratio of 3.82.

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

Snap-on Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 10th. Stockholders of record on Monday, May 20th were paid a dividend of $1.86 per share. The ex-dividend date of this dividend was Friday, May 17th. This represents a $7.44 annualized dividend and a dividend yield of 2.87%. Snap-on’s dividend payout ratio (DPR) is presently 39.03%.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on SNA shares. Roth Mkm reissued a “buy” rating and set a $324.00 price target on shares of Snap-on in a research report on Thursday, April 18th. Barrington Research reissued an “outperform” rating and issued a $325.00 price target on shares of Snap-on in a research report on Wednesday, May 22nd. Finally, Robert W. Baird lowered their price objective on shares of Snap-on from $295.00 to $282.00 and set a “neutral” rating on the stock in a research report on Friday, April 19th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $316.75.

Insider Activity

In other Snap-on news, CEO Nicholas T. Pinchuk sold 24,220 shares of the company’s stock in a transaction that occurred on Tuesday, June 4th. The stock was sold at an average price of $266.80, for a total transaction of $6,461,896.00. Following the completion of the sale, the chief executive officer now owns 750,663 shares of the company’s stock, valued at $200,276,888.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CEO Nicholas T. Pinchuk sold 24,220 shares of Snap-on stock in a transaction that occurred on Tuesday, June 4th. The shares were sold at an average price of $266.80, for a total value of $6,461,896.00. Following the transaction, the chief executive officer now owns 750,663 shares of the company’s stock, valued at $200,276,888.40. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, SVP Jesus Arregui sold 8,434 shares of the company’s stock in a transaction on Wednesday, May 29th. The stock was sold at an average price of $265.17, for a total transaction of $2,236,443.78. Following the sale, the senior vice president now directly owns 252 shares of the company’s stock, valued at $66,822.84. The disclosure for this sale can be found here. In the last quarter, insiders have sold 38,632 shares of company stock valued at $10,353,409. Insiders own 4.10% of the company’s stock.

Snap-on 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.