Snap-on Incorporated (SNA) Holdings Increased by CIBC Asset Management Inc

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CIBC Asset Management Inc grew its holdings in Snap-on Incorporated (NYSE:SNA) by 3.7% during the first quarter, HoldingsChannel.com reports. The firm owned 5,435 shares of the company’s stock after acquiring an additional 196 shares during the quarter. CIBC Asset Management Inc’s holdings in Snap-on were worth $851,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. CSat Investment Advisory L.P. increased its stake in shares of Snap-on by 81.4% during the fourth quarter. CSat Investment Advisory L.P. now owns 205 shares of the company’s stock valued at $30,000 after buying an additional 92 shares during the period. Riverview Trust Co purchased a new position in shares of Snap-on during the fourth quarter valued at $33,000. Tributary Capital Management LLC purchased a new position in shares of Snap-on during the fourth quarter valued at $44,000. FTB Advisors Inc. increased its stake in shares of Snap-on by 120.5% during the first quarter. FTB Advisors Inc. now owns 366 shares of the company’s stock valued at $56,000 after buying an additional 200 shares during the period. Finally, Quadrant Capital Group LLC increased its stake in shares of Snap-on by 408.9% during the first quarter. Quadrant Capital Group LLC now owns 402 shares of the company’s stock valued at $60,000 after buying an additional 323 shares during the period.

In related news, Chairman Nicholas T. Pinchuk sold 11,783 shares of the firm’s stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $156.68, for a total transaction of $1,846,160.44. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, SVP Thomas J. Ward sold 21,000 shares of the firm’s stock in a transaction dated Thursday, April 18th. The shares were sold at an average price of $169.75, for a total value of $3,564,750.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 51,440 shares of company stock worth $8,419,165. 3.90% of the stock is owned by corporate insiders.

Several equities analysts have recently commented on SNA shares. Barrington Research set a $185.00 price target on Snap-on and gave the company a “buy” rating in a research note on Monday, April 22nd. Robert W. Baird lowered Snap-on from an “outperform” rating to a “neutral” rating and cut their price target for the company from $186.00 to $160.00 in a research note on Wednesday, April 10th. Bank of America lowered Snap-on from a “buy” rating to a “neutral” rating and set a $168.00 price target on the stock. in a research note on Tuesday, April 16th. Finally, Zacks Investment Research upgraded Snap-on from a “sell” rating to a “hold” rating in a research note on Wednesday, April 24th. Five research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $185.20.

Shares of Snap-on stock opened at $157.32 on Friday. The firm has a market cap of $8.86 billion, a PE ratio of 13.32, a PEG ratio of 1.54 and a beta of 1.28. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.66 and a current ratio of 2.42. Snap-on Incorporated has a 12 month low of $135.29 and a 12 month high of $189.46.

Snap-on (NYSE:SNA) last issued its quarterly earnings data on Thursday, April 18th. The company reported $3.01 earnings per share for the quarter, beating analysts’ consensus estimates of $2.91 by $0.10. Snap-on had a return on equity of 21.66% and a net margin of 18.64%. The company had revenue of $921.70 million for the quarter, compared to the consensus estimate of $933.13 million. During the same quarter last year, the company earned $2.79 earnings per share. The firm’s revenue for the quarter was down 1.5% compared to the same quarter last year. Sell-side analysts predict that Snap-on Incorporated will post 12.33 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 10th. Investors of record on Tuesday, May 21st will be given a dividend of $0.95 per share. This represents a $3.80 dividend on an annualized basis and a yield of 2.42%. The ex-dividend date is Monday, May 20th. Snap-on’s payout ratio is currently 32.18%.

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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 and Industrial Group, Snap-on Tools Group, and Repair Systems & Information Group segments. The company offers hand tools, including wrenches, sockets, ratchet wrenches, pliers, screwdrivers, punches and chisels, saws and cutting tools, pruning tools, torque measuring instruments, and other products; power tools, such as cordless, pneumatic, hydraulic, and corded tools; and tool storage products comprising tool chests, roll cabinets, and other products.

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Want to see what other hedge funds are holding SNA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Snap-on Incorporated (NYSE:SNA).

Institutional Ownership by Quarter for Snap-on (NYSE:SNA)

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