Mn Services Vermogensbeheer B.V. Raises Holdings in Snap-on Incorporated (NYSE:SNA)

Posted by Defense World Staff on Jul 14th, 2023

Mn Services Vermogensbeheer B.V. boosted its stake in shares of Snap-on Incorporated (NYSE:SNA – Free Report) by 0.8% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 26,264 shares of the company’s stock after acquiring an additional 200 shares during the quarter. Mn Services Vermogensbeheer B.V.’s holdings in Snap-on were worth $6,484,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the stock. Copeland Capital Management LLC increased its holdings in shares of Snap-on by 653.3% during the 4th quarter. Copeland Capital Management LLC now owns 113 shares of the company’s stock valued at $25,000 after purchasing an additional 98 shares in the last quarter. Parkside Financial Bank & Trust increased its holdings in Snap-on by 57.3% in the first quarter. Parkside Financial Bank & Trust now owns 129 shares of the company’s stock valued at $27,000 after buying an additional 47 shares in the last quarter. Ridgewood Investments LLC acquired a new position in shares of Snap-on in the first quarter worth about $29,000. Mitsubishi UFJ Morgan Stanley Securities Co. Ltd. purchased a new stake in shares of Snap-on during the 4th quarter worth about $32,000. Finally, Private Trust Co. NA grew its position in shares of Snap-on by 183.6% during the 1st quarter. Private Trust Co. NA now owns 156 shares of the company’s stock valued at $39,000 after acquiring an additional 101 shares during the period. 92.45% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on SNA. CL King initiated coverage on Snap-on in a report on Friday, July 7th. They issued a “neutral” rating for the company. Roth Mkm upgraded Snap-on from a “neutral” rating to a “buy” rating and increased their target price for the company from $278.00 to $298.00 in a research report on Thursday, May 18th. Bank of America boosted their price target on shares of Snap-on from $230.00 to $240.00 and gave the stock an “underperform” rating in a report on Friday, April 21st. Roth Capital raised shares of Snap-on from a “neutral” rating to a “buy” rating in a report on Thursday, May 18th. Finally, 888 restated a “reiterates” rating on shares of Snap-on in a research report on Wednesday, May 24th. One analyst has rated the stock with a sell rating, four have issued a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $264.29.

Insider Activity at Snap-on

In other Snap-on news, VP Richard Thomas Miller sold 300 shares of the business’s stock in a transaction dated Tuesday, May 2nd. The shares were sold at an average price of $263.05, for a total value of $78,915.00. Following the transaction, the vice president now directly owns 2,042 shares in the company, valued at approximately $537,148.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Snap-on news, VP Richard Thomas Miller sold 300 shares of Snap-on stock in a transaction on Tuesday, May 2nd. The stock was sold at an average price of $263.05, for a total value of $78,915.00. Following the sale, the vice president now owns 2,042 shares in the company, valued at $537,148.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Timothy L. Chambers sold 4,598 shares of the stock in a transaction on Friday, June 30th. The stock was sold at an average price of $289.07, for a total value of $1,329,143.86. Following the transaction, the senior vice president now owns 13,276 shares of the company’s stock, valued at $3,837,693.32. The disclosure for this sale can be found here. Over the last quarter, insiders sold 89,282 shares of company stock valued at $23,784,577. 4.20% of the stock is owned by company insiders.

Snap-on Stock Down 0.8 %

SNA stock opened at $290.52 on Friday. The company has a current ratio of 3.48, a quick ratio of 2.43 and a debt-to-equity ratio of 0.26. The firm has a 50-day moving average of $269.15 and a two-hundred day moving average of $252.80. Snap-on Incorporated has a 12 month low of $192.25 and a 12 month high of $294.33. The company has a market cap of $15.38 billion, a price-to-earnings ratio of 16.67, a PEG ratio of 2.09 and a beta of 1.12.

Snap-on (NYSE:SNA – Get Free Report) last posted its quarterly earnings results on Thursday, April 20th. The company reported $4.60 EPS for the quarter, beating the consensus estimate of $4.14 by $0.46. The firm had revenue of $1.18 billion during the quarter, compared to analysts’ expectations of $1.13 billion. Snap-on had a return on equity of 21.17% and a net margin of 20.60%. The business’s revenue for the quarter was up 7.8% on a year-over-year basis. During the same quarter last year, the firm earned $4.00 earnings per share. As a group, analysts forecast that Snap-on Incorporated will post 17.82 earnings per share for the current fiscal year.

Snap-on Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, June 9th. Stockholders of record on Friday, May 19th were given a dividend of $1.62 per share. The ex-dividend date was Thursday, May 18th. This represents a $6.48 annualized dividend and a dividend yield of 2.23%. Snap-on’s payout ratio is 37.18%.

About Snap-on

(Free Report)

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.