Snap-on Incorporated (NYSE:SNA) Shares Purchased by Van ECK Associates Corp

Van ECK Associates Corp raised its stake in shares of Snap-on Incorporated (NYSE:SNA) by 6.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 7,772 shares of the company’s stock after buying an additional 447 shares during the period. Van ECK Associates Corp’s holdings in Snap-on were worth $2,245,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the stock. BKM Wealth Management LLC acquired a new position in shares of Snap-on in the 4th quarter worth approximately $33,000. Peoples Bank KS acquired a new position in shares of Snap-on in the 3rd quarter worth approximately $40,000. Exchange Traded Concepts LLC acquired a new position in shares of Snap-on in the 4th quarter worth approximately $43,000. Itau Unibanco Holding S.A. acquired a new position in shares of Snap-on in the 3rd quarter worth approximately $49,000. Finally, Orion Capital Management LLC acquired a new position in shares of Snap-on in the 3rd quarter worth approximately $49,000. Institutional investors and hedge funds own 84.88% of the company’s stock.

Snap-on Stock Performance

Snap-on stock opened at $276.86 on Wednesday. The firm’s 50 day simple moving average is $284.38 and its 200-day simple moving average is $279.81. The company has a market cap of $14.60 billion, a P/E ratio of 14.53, a price-to-earnings-growth ratio of 1.87 and a beta of 1.00. The company has a debt-to-equity ratio of 0.23, a current ratio of 3.82 and a quick ratio of 2.83. Snap-on Incorporated has a fifty-two week low of $247.68 and a fifty-two week high of $298.49.

Snap-on (NYSE:SNA) last posted 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 business had revenue of $1.18 billion during the quarter, compared to analysts’ expectations of $1.20 billion. Snap-on had a net margin of 21.69% and a return on equity of 20.46%. The firm’s quarterly revenue was down .1% compared to the same quarter last year. During the same period last year, the company posted $4.60 earnings per share. As a group, equities research analysts predict that Snap-on Incorporated will post 19.02 EPS for the current year.

Snap-on Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 10th. Investors of record on Monday, May 20th will be issued a dividend of $1.86 per share. This represents a $7.44 annualized dividend and a dividend yield of 2.69%. The ex-dividend date of this dividend is Friday, May 17th. Snap-on’s dividend payout ratio is currently 39.03%.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on SNA shares. Barrington Research reaffirmed an “outperform” rating and issued a $325.00 price objective on shares of Snap-on in a research note on Monday, April 15th. 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 note on Friday, April 19th. Tigress Financial reissued a “buy” rating and issued a $336.00 target price on shares of Snap-on in a research report on Friday, February 16th. Finally, Roth Mkm reissued a “buy” rating and issued a $324.00 target price on shares of Snap-on in a research report on Thursday, April 18th. Two analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $316.75.

Insider Buying and Selling

In related news, VP Richard Thomas Miller sold 704 shares of the firm’s stock in a transaction that occurred on Thursday, March 28th. The shares were sold at an average price of $298.16, for a total transaction of $209,904.64. Following the completion of the sale, the vice president now directly owns 3,213 shares in the company, valued at $957,988.08. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, VP Richard Thomas Miller sold 704 shares of the firm’s stock in a transaction that occurred on Thursday, March 28th. The shares were sold at an average price of $298.16, for a total transaction of $209,904.64. Following the completion of the sale, the vice president now directly owns 3,213 shares in the company, valued at $957,988.08. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Aldo John Pagliari sold 3,231 shares of Snap-on stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $270.58, for a total transaction of $874,243.98. Following the completion of the sale, the chief financial officer now owns 93,183 shares of the company’s stock, valued at $25,213,456.14. The disclosure for this sale can be found here. Over the last three months, insiders sold 49,930 shares of company stock worth $14,089,523. 4.10% of the stock is owned by company insiders.

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.