Zurcher Kantonalbank Zurich Cantonalbank Sells 1,210 Shares of Snap-on Incorporated (NYSE:SNA)

Zurcher Kantonalbank Zurich Cantonalbank decreased its position in Snap-on Incorporated (NYSE:SNA) by 1.8% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 66,872 shares of the company’s stock after selling 1,210 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Snap-on were worth $19,315,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Clear Street Markets LLC raised its holdings in Snap-on by 96.3% in the 1st quarter. Clear Street Markets LLC now owns 106 shares of the company’s stock valued at $26,000 after acquiring an additional 52 shares in the last quarter. BKM Wealth Management LLC acquired a new position in shares of Snap-on in the 4th quarter worth approximately $33,000. Parkside Financial Bank & Trust raised its holdings in shares of Snap-on by 57.3% in the 1st quarter. Parkside Financial Bank & Trust now owns 129 shares of the company’s stock worth $27,000 after buying an additional 47 shares in the last quarter. Exchange Traded Concepts LLC acquired a new position in shares of Snap-on in the 4th quarter worth approximately $43,000. Finally, Quarry LP raised its holdings in shares of Snap-on by 384.4% in the 2nd quarter. Quarry LP now owns 155 shares of the company’s stock worth $45,000 after buying an additional 123 shares in the last quarter. Institutional investors and hedge funds own 84.88% of the company’s stock.

Insider Buying and Selling at Snap-on

In other Snap-on news, CEO Nicholas T. Pinchuk sold 23,514 shares of the stock in a transaction on Tuesday, March 19th. The stock was sold at an average price of $287.48, for a total value of $6,759,804.72. Following the transaction, the chief executive officer now directly owns 742,383 shares in the company, valued at approximately $213,420,264.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other Snap-on news, VP Richard Thomas Miller sold 704 shares of the stock in a transaction on Thursday, March 28th. The stock was sold at an average price of $298.16, for a total value of $209,904.64. Following the transaction, the vice president now directly owns 3,213 shares in the company, valued at approximately $957,988.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Nicholas T. Pinchuk sold 23,514 shares of the stock in a transaction on Tuesday, March 19th. The shares were sold at an average price of $287.48, for a total value of $6,759,804.72. Following the completion of the transaction, the chief executive officer now owns 742,383 shares in the company, valued at $213,420,264.84. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 47,368 shares of company stock worth $13,399,449. Insiders own 4.10% of the company’s stock.

Snap-on Stock Down 7.7 %

NYSE SNA opened at $261.76 on Friday. The firm has a market cap of $13.83 billion, a PE ratio of 13.96, a price-to-earnings-growth ratio of 2.03 and a beta of 0.99. Snap-on Incorporated has a one year low of $239.08 and a one year high of $298.49. The stock’s 50 day simple moving average is $283.65 and its 200 day simple moving average is $278.16. The company has a debt-to-equity ratio of 0.23, a current ratio of 3.88 and a quick ratio of 2.81.

Snap-on (NYSE:SNA) last released its quarterly earnings results on Thursday, February 8th. The company reported $4.75 EPS for the quarter, topping analysts’ consensus estimates of $4.66 by $0.09. The business had revenue of $1.20 billion for the quarter, compared to analyst estimates of $1.20 billion. Snap-on had a return on equity of 20.89% and a net margin of 21.38%. Snap-on’s revenue for the quarter was up 3.5% on a year-over-year basis. During the same period in the prior year, the company earned $4.42 EPS. As a group, sell-side analysts forecast that Snap-on Incorporated will post 19.22 earnings per share for the current fiscal year.

Snap-on Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 11th. Shareholders of record on Monday, February 26th were given a $1.86 dividend. The ex-dividend date of this dividend was Friday, February 23rd. This represents a $7.44 dividend on an annualized basis and a yield of 2.84%. Snap-on’s payout ratio is 39.68%.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on SNA. Tigress Financial reissued a “buy” rating and issued a $336.00 target price on shares of Snap-on in a report on Friday, February 16th. Barrington Research reissued an “outperform” rating and issued a $325.00 target price on shares of Snap-on in a report on Monday. Finally, Roth Mkm reissued a “buy” rating and issued a $324.00 target price on shares of Snap-on in a report on Thursday. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $306.00.

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.