JPMorgan Chase & Co. Has $128.76 Million Stock Holdings in Snap-on Incorporated (NYSE:SNA)

JPMorgan Chase & Co. decreased its stake in shares of Snap-on Incorporated (NYSE:SNA) by 41.3% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 379,277 shares of the company’s stock after selling 266,571 shares during the quarter. JPMorgan Chase & Co.’s holdings in Snap-on were worth $128,758,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Bleakley Financial Group LLC acquired a new position in Snap-on during the fourth quarter worth $512,000. Vest Financial LLC increased its stake in shares of Snap-on by 2.4% during the 4th quarter. Vest Financial LLC now owns 102,987 shares of the company’s stock worth $34,962,000 after purchasing an additional 2,460 shares during the last quarter. Sanctuary Advisors LLC raised its holdings in shares of Snap-on by 3.6% in the 3rd quarter. Sanctuary Advisors LLC now owns 45,783 shares of the company’s stock valued at $13,264,000 after purchasing an additional 1,605 shares during the period. World Investment Advisors LLC acquired a new stake in Snap-on in the 3rd quarter valued at about $19,291,000. Finally, Avanza Fonder AB bought a new position in Snap-on during the fourth quarter worth about $1,936,000. Institutional investors own 84.88% of the company’s stock.

Analysts Set New Price Targets

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

Snap-on Stock Up 0.7 %

SNA stock opened at $339.31 on Wednesday. Snap-on Incorporated has a fifty-two week low of $252.98 and a fifty-two week high of $373.90. 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 capitalization of $17.79 billion, a price-to-earnings ratio of 17.40, a PEG ratio of 2.21 and a beta of 0.99. The business’s fifty day moving average price is $339.60 and its two-hundred day moving average price is $334.75.

Snap-on (NYSE:SNA) last released its quarterly earnings results on Thursday, February 6th. The company reported $4.82 EPS for the quarter, topping analysts’ consensus estimates of $4.78 by $0.04. Snap-on had a net margin of 21.71% and a return on equity of 19.20%. During the same quarter last year, the business earned $4.75 EPS. On average, equities analysts anticipate that Snap-on Incorporated will post 19.79 earnings per share for the current year.

Snap-on Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Monday, February 24th were paid a $2.14 dividend. This represents a $8.56 annualized dividend and a dividend yield of 2.52%. The ex-dividend date of this dividend was Monday, February 24th. 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 company’s stock in a transaction dated Thursday, March 27th. The shares were sold at an average price of $335.32, for a total transaction of $7,611,764.00. Following the completion of the sale, the chief executive officer now owns 793,932 shares of the company’s stock, valued at $266,221,278.24. This represents a 2.78 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Aldo John Pagliari sold 6,860 shares of the business’s stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $339.05, for a total transaction of $2,325,883.00. Following the completion of the transaction, the chief financial officer now 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 disclosure for this sale can be found here. Insiders have sold 36,011 shares of company stock valued at $12,116,859 over the last 90 days. 3.90% of the stock is owned by corporate insiders.

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.