Snap-On Incorporated $SNA Shares Bought by SouthState Bank Corp

SouthState Bank Corp lifted its stake in shares of Snap-On Incorporated (NYSE:SNA) by 6.4% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 26,001 shares of the company’s stock after purchasing an additional 1,566 shares during the period. SouthState Bank Corp’s holdings in Snap-On were worth $9,010,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of Snap-On by 15.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 8,850 shares of the company’s stock worth $2,983,000 after acquiring an additional 1,185 shares during the period. Woodline Partners LP increased its position in Snap-On by 40.4% during the first quarter. Woodline Partners LP now owns 4,426 shares of the company’s stock worth $1,492,000 after purchasing an additional 1,273 shares during the last quarter. Ameritas Advisory Services LLC purchased a new position in Snap-On during the second quarter worth about $30,000. Ascent Group LLC boosted its holdings in Snap-On by 22.2% in the 2nd quarter. Ascent Group LLC now owns 1,526 shares of the company’s stock valued at $475,000 after purchasing an additional 277 shares during the last quarter. Finally, DAVENPORT & Co LLC grew its stake in shares of Snap-On by 21.9% in the 2nd quarter. DAVENPORT & Co LLC now owns 789 shares of the company’s stock valued at $246,000 after buying an additional 142 shares during the period. Institutional investors and hedge funds own 84.88% of the company’s stock.

Snap-On Stock Performance

Shares of Snap-On stock opened at $383.29 on Thursday. The stock has a market capitalization of $19.93 billion, a price-to-earnings ratio of 20.10, a price-to-earnings-growth ratio of 2.66 and a beta of 0.81. The company has a debt-to-equity ratio of 0.20, a current ratio of 4.40 and a quick ratio of 3.37. The business has a 50-day moving average of $355.76 and a 200 day moving average of $341.17. Snap-On Incorporated has a 12 month low of $289.81 and a 12 month high of $387.25.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the stock. Roth Mkm reaffirmed a “buy” rating and set a $385.00 price target on shares of Snap-On in a research report on Friday, October 17th. Robert W. Baird set a $370.00 price target on Snap-On in a research note on Friday, January 30th. Weiss Ratings reiterated a “buy (b)” rating on shares of Snap-On in a report on Wednesday, January 21st. Wall Street Zen upgraded shares of Snap-On from a “hold” rating to a “buy” rating in a report on Saturday, October 18th. Finally, Barrington Research reaffirmed an “outperform” rating and set a $350.00 target price on shares of Snap-On in a research note on Wednesday, October 15th. Five research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $365.83.

Insider Buying and Selling at Snap-On

In other Snap-On news, CFO Aldo John Pagliari sold 6,779 shares of the business’s stock in a transaction on Thursday, December 11th. The shares were sold at an average price of $352.20, for a total value of $2,387,563.80. Following the completion of the transaction, the chief financial officer owned 111,888 shares in the company, valued at $39,406,953.60. The trade was a 5.71% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, SVP Jesus Arregui sold 3,831 shares of the company’s stock in a transaction on Tuesday, November 25th. The stock was sold at an average price of $337.28, for a total value of $1,292,119.68. Following the sale, the senior vice president directly owned 2,642 shares in the company, valued at $891,093.76. This represents a 59.18% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders sold 40,036 shares of company stock worth $13,710,988. 3.90% of the stock is owned by company insiders.

Snap-On Profile

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.