Mizuho Bank Ltd. Acquires New Position in Snap-on Incorporated (NYSE:SNA)

Mizuho Bank Ltd. bought a new position in shares of Snap-on Incorporated (NYSE:SNA) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 180 shares of the company’s stock, valued at approximately $61,000.

Several other large investors have also added to or reduced their stakes in SNA. Bleakley Financial Group LLC bought a new position in shares of Snap-on in the fourth quarter worth about $512,000. Vest Financial LLC grew its holdings in Snap-on by 2.4% during the 4th quarter. Vest Financial LLC now owns 102,987 shares of the company’s stock valued at $34,962,000 after buying an additional 2,460 shares in the last quarter. Sanctuary Advisors LLC raised its position in shares of Snap-on by 3.6% during the third quarter. Sanctuary Advisors LLC now owns 45,783 shares of the company’s stock valued at $13,264,000 after buying an additional 1,605 shares during the last quarter. World Investment Advisors LLC purchased a new position in shares of Snap-on in the third quarter worth $19,291,000. Finally, Avanza Fonder AB bought a new position in shares of Snap-on during the fourth quarter worth $1,936,000. Hedge funds and other institutional investors own 84.88% of the company’s stock.

Snap-on Trading Down 3.8 %

Shares of NYSE SNA opened at $314.98 on Friday. Snap-on Incorporated has a 1-year low of $252.98 and a 1-year high of $373.90. The company has a debt-to-equity ratio of 0.22, a current ratio of 4.15 and a quick ratio of 3.17. The business’s 50 day moving average is $338.24 and its two-hundred day moving average is $334.98. The stock has a market capitalization of $16.51 billion, a P/E ratio of 16.15, a PEG ratio of 2.21 and a beta of 0.99.

Snap-on (NYSE:SNA) last released its earnings results on Thursday, February 6th. The company reported $4.82 earnings per share for the quarter, beating the consensus estimate of $4.78 by $0.04. Snap-on had a return on equity of 19.20% and a net margin of 21.71%. During the same quarter in the prior year, the company posted $4.75 EPS. As a group, research analysts expect that Snap-on Incorporated will post 19.79 EPS for the current year.

Snap-on Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, March 10th. Stockholders of record on Monday, February 24th were issued a $2.14 dividend. The ex-dividend date of this dividend was Monday, February 24th. This represents a $8.56 annualized dividend and a dividend yield of 2.72%. Snap-on’s dividend payout ratio (DPR) is presently 43.90%.

Analysts Set New Price Targets

Several brokerages have commented on SNA. Tigress Financial boosted their price target on shares of Snap-on from $385.00 to $390.00 and gave the stock a “buy” rating in a research note on Tuesday, March 4th. Barrington Research reiterated an “outperform” rating and issued a $350.00 target price on shares of Snap-on in a research report on Monday, February 10th. Finally, Longbow Research upgraded Snap-on from a “neutral” rating to a “buy” rating and set a $400.00 price target for the company in a report on Monday, March 31st. One analyst has rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $355.33.

Insider Buying and Selling

In other Snap-on news, CEO Nicholas T. Pinchuk sold 22,700 shares of the business’s stock in a transaction that occurred on Thursday, March 27th. The stock was sold at an average price of $335.32, for a total transaction of $7,611,764.00. Following the completion of the transaction, the chief executive officer now owns 793,932 shares in the company, valued at $266,221,278.24. The trade was a 2.78 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Aldo John Pagliari sold 6,860 shares of the company’s stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $339.05, for a total value of $2,325,883.00. Following the transaction, the chief financial officer now directly owns 107,096 shares in the company, valued at approximately $36,310,898.80. This represents a 6.02 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 36,011 shares of company stock valued at $12,116,859. Company insiders own 3.90% of the company’s stock.

Snap-on Company 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.