Harvest Fund Management Co. Ltd Boosts Position in Snap-on Incorporated (NYSE:SNA)

Harvest Fund Management Co. Ltd boosted its holdings in shares of Snap-on Incorporated (NYSE:SNA) by 1,820.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 557 shares of the company’s stock after acquiring an additional 528 shares during the period. Harvest Fund Management Co. Ltd’s holdings in Snap-on were worth $189,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in SNA. UMB Bank n.a. raised its position in shares of Snap-on by 70.5% in the 4th quarter. UMB Bank n.a. now owns 75 shares of the company’s stock valued at $25,000 after purchasing an additional 31 shares during the last quarter. SBI Securities Co. Ltd. acquired a new stake in Snap-on in the 4th quarter valued at $26,000. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in Snap-on in the 4th quarter valued at $28,000. Brooklyn Investment Group acquired a new stake in Snap-on during the 3rd quarter worth $39,000. Finally, TCTC Holdings LLC boosted its stake in Snap-on by 41.3% during the 4th quarter. TCTC Holdings LLC now owns 147 shares of the company’s stock worth $50,000 after purchasing an additional 43 shares during the last quarter. 84.88% of the stock is currently owned by institutional investors.

Insider Activity

In related news, SVP Jesus Arregui sold 6,451 shares of the firm’s stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $337.81, for a total transaction of $2,179,212.31. Following the sale, the senior vice president now owns 257 shares in the company, valued at approximately $86,817.17. This trade represents a 96.17 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Aldo John Pagliari sold 6,860 shares of the stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $339.05, for a total transaction 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. Company insiders own 4.10% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have issued reports on SNA. Barrington Research reaffirmed an “outperform” rating and set a $350.00 target price on shares of Snap-on in a research note on Monday, February 10th. Tigress Financial boosted their price objective on shares of Snap-on from $385.00 to $390.00 and gave the company a “buy” rating in a report on Tuesday, March 4th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $346.40.

Snap-on Price Performance

Shares of NYSE:SNA opened at $327.59 on Friday. The company has a 50-day simple moving average of $340.99 and a 200-day simple moving average of $331.41. Snap-on Incorporated has a one year low of $252.98 and a one year high of $373.90. The company has a debt-to-equity ratio of 0.22, a quick ratio of 3.17 and a current ratio of 4.15. The stock has a market capitalization of $17.17 billion, a price-to-earnings ratio of 16.80, a PEG ratio of 2.21 and a beta of 0.99.

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

Snap-on Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, March 10th. Stockholders of record on Monday, February 24th were given a $2.14 dividend. The ex-dividend date was Monday, February 24th. This represents a $8.56 annualized dividend and a dividend yield of 2.61%. Snap-on’s dividend payout ratio is presently 43.90%.

Snap-on 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.