Vontobel Holding Ltd. Raises Holdings in Snap-On Incorporated $SNA

Vontobel Holding Ltd. raised its position in shares of Snap-On Incorporated (NYSE:SNA) by 61.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 16,127 shares of the company’s stock after acquiring an additional 6,125 shares during the period. Vontobel Holding Ltd.’s holdings in Snap-On were worth $5,588,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Quantbot Technologies LP acquired a new stake in Snap-On during the 1st quarter worth approximately $255,000. Kestra Advisory Services LLC increased its position in shares of Snap-On by 1.2% in the first quarter. Kestra Advisory Services LLC now owns 10,909 shares of the company’s stock worth $3,676,000 after acquiring an additional 130 shares in the last quarter. Jump Financial LLC raised its stake in shares of Snap-On by 367.7% in the 1st quarter. Jump Financial LLC now owns 5,523 shares of the company’s stock valued at $1,861,000 after acquiring an additional 4,342 shares during the period. CreativeOne Wealth LLC lifted its holdings in shares of Snap-On by 9.5% during the 1st quarter. CreativeOne Wealth LLC now owns 3,364 shares of the company’s stock valued at $1,134,000 after acquiring an additional 291 shares in the last quarter. Finally, B. Metzler seel. Sohn & Co. AG boosted its position in Snap-On by 81.3% during the 1st quarter. B. Metzler seel. Sohn & Co. AG now owns 3,772 shares of the company’s stock worth $1,271,000 after purchasing an additional 1,692 shares during the period. 84.88% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have commented on SNA shares. Robert W. Baird raised their price objective on Snap-On from $355.00 to $365.00 and gave the company a “neutral” rating in a research report on Friday, October 17th. Wall Street Zen raised Snap-On from a “hold” rating to a “buy” rating in a research report on Saturday, October 18th. Tigress Financial upped their price target on Snap-On from $395.00 to $405.00 and gave the stock a “buy” rating in a report on Tuesday, October 21st. Roth Capital reiterated a “buy” rating and set a $385.00 price objective on shares of Snap-On in a research note on Friday, October 17th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Snap-On in a research report on Wednesday, October 8th. Five investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $365.00.

Insider Transactions at Snap-On

In other Snap-On news, VP Richard Thomas Miller sold 2,000 shares of the company’s stock in a transaction that occurred on Thursday, December 4th. The stock was sold at an average price of $348.27, for a total transaction of $696,540.00. Following the sale, the vice president owned 4,158 shares in the company, valued at $1,448,106.66. This represents a 32.48% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CFO Aldo John Pagliari sold 6,779 shares of the stock in a transaction that occurred on Thursday, December 11th. The stock was sold at an average price of $352.20, for a total value of $2,387,563.80. Following the transaction, the chief financial officer directly owned 111,888 shares in the company, valued at approximately $39,406,953.60. This represents a 5.71% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 40,036 shares of company stock valued at $13,710,988 in the last three months. Corporate insiders own 3.90% of the company’s stock.

Snap-On Stock Performance

Shares of SNA opened at $352.91 on Friday. Snap-On Incorporated has a 52-week low of $289.81 and a 52-week high of $365.78. The company has a quick ratio of 3.37, a current ratio of 4.40 and a debt-to-equity ratio of 0.20. The firm has a market cap of $18.36 billion, a price-to-earnings ratio of 18.51, a PEG ratio of 2.66 and a beta of 0.78. The business’s 50 day moving average is $342.32 and its two-hundred day moving average is $331.68.

Snap-On (NYSE:SNA) last posted its quarterly earnings results on Thursday, October 16th. The company reported $4.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.59 by $0.12. The firm had revenue of $1.19 billion for the quarter, compared to analysts’ expectations of $1.16 billion. Snap-On had a net margin of 21.08% and a return on equity of 17.71%. The firm’s quarterly revenue was up 3.8% on a year-over-year basis. During the same period in the prior year, the company posted $4.70 earnings per share. Analysts forecast that Snap-On Incorporated will post 19.79 EPS for the current fiscal year.

Snap-On Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, December 10th. Investors of record on Friday, November 21st were paid a $2.44 dividend. This represents a $9.76 dividend on an annualized basis and a yield of 2.8%. This is a positive change from Snap-On’s previous quarterly dividend of $2.14. The ex-dividend date was Friday, November 21st. Snap-On’s payout ratio is 51.18%.

About Snap-On

Snap?On Incorporated (NYSE: SNA) is a designer, manufacturer and marketer of tools, diagnostic equipment, repair information and shop equipment for professional users. The company’s product range includes hand and power tools, tool storage and cabinets, diagnostic scan tools and software, shop equipment such as lifts and tire changers, and specialized specialty tools for automotive, aviation, marine and industrial applications. Snap?On also offers information and workflow solutions that combine diagnostic data, repair procedures and parts information to support professional technicians.

Founded in 1920 and headquartered in Kenosha, Wisconsin, Snap?On has established a long history in the professional tools market.