Sumitomo Mitsui DS Asset Management Company Ltd Acquires 1,337 Shares of Snap-on Incorporated (NYSE:SNA)

Sumitomo Mitsui DS Asset Management Company Ltd lifted its stake in Snap-on Incorporated (NYSE:SNA) by 26.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,413 shares of the company’s stock after acquiring an additional 1,337 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Snap-on were worth $2,177,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the stock. State Street Corp grew its holdings in Snap-on by 0.5% during the 3rd quarter. State Street Corp now owns 2,115,973 shares of the company’s stock valued at $613,019,000 after buying an additional 10,645 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of Snap-on by 3.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,728,792 shares of the company’s stock valued at $500,848,000 after acquiring an additional 56,266 shares during the period. Geode Capital Management LLC grew its stake in Snap-on by 4.5% during the third quarter. Geode Capital Management LLC now owns 1,613,459 shares of the company’s stock valued at $466,199,000 after acquiring an additional 69,590 shares in the last quarter. Nordea Investment Management AB lifted its stake in Snap-on by 12.8% in the 4th quarter. Nordea Investment Management AB now owns 1,128,317 shares of the company’s stock worth $384,813,000 after purchasing an additional 127,859 shares in the last quarter. Finally, Pacer Advisors Inc. grew its position in shares of Snap-on by 9.4% during the 3rd quarter. Pacer Advisors Inc. now owns 907,655 shares of the company’s stock valued at $262,957,000 after purchasing an additional 78,184 shares in the last quarter. 84.88% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

SNA has been the subject of several research analyst reports. Robert W. Baird lifted their price objective on Snap-on from $290.00 to $347.00 and gave the company a “neutral” rating in a research note on Friday, October 18th. Barrington Research reissued an “outperform” rating and set a $350.00 price objective on shares of Snap-on in a report on Monday. Roth Mkm upped their price objective on shares of Snap-on from $324.00 to $365.00 and gave the stock a “buy” rating in a research report on Tuesday, October 22nd. Tigress Financial boosted their price target on shares of Snap-on from $336.00 to $385.00 and gave the stock a “buy” rating in a research note on Friday, October 25th. Finally, Bank of America raised their price objective on shares of Snap-on from $255.00 to $280.00 and gave the company an “underperform” rating in a research report on Friday, October 18th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $345.40.

Snap-on Trading Up 0.6 %

SNA stock opened at $340.38 on Tuesday. Snap-on Incorporated has a one year low of $252.98 and a one year high of $373.89. The company has a market capitalization of $17.87 billion, a PE ratio of 17.46, a price-to-earnings-growth ratio of 2.13 and a beta of 0.99. The company’s 50 day moving average price is $347.29 and its two-hundred day moving average price is $320.10. The company has a debt-to-equity ratio of 0.22, a quick ratio of 3.14 and a current ratio of 4.15.

Snap-on (NYSE:SNA) last posted its quarterly earnings results on Thursday, February 6th. The company reported $4.82 earnings per share for the quarter, topping the consensus estimate 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 period in the prior year, the firm earned $4.75 earnings per share. As a group, analysts predict that Snap-on Incorporated will post 20.07 earnings per share for the current fiscal year.

Insider Activity at Snap-on

In other Snap-on news, VP June C. Lemerand sold 3,500 shares of the business’s stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $362.86, for a total value of $1,270,010.00. Following the completion of the sale, the vice president now owns 2,289 shares in the company, valued at approximately $830,586.54. The trade was a 60.46 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Nicholas T. Pinchuk sold 21,783 shares of the firm’s stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $354.83, for a total transaction of $7,729,261.89. Following the completion of the transaction, the chief executive officer now owns 769,738 shares in the company, valued at $273,126,134.54. This represents a 2.75 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 32,192 shares of company stock worth $11,400,978 in the last ninety days. 4.10% of the stock is owned by company insiders.

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.