Mizuho Securities USA LLC Purchases 1,560 Shares of Snap-on Incorporated (NYSE:SNA)

Mizuho Securities USA LLC grew its position in Snap-on Incorporated (NYSE:SNA) by 45.7% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 4,976 shares of the company’s stock after purchasing an additional 1,560 shares during the quarter. Mizuho Securities USA LLC’s holdings in Snap-on were worth $1,689,000 as of its most recent filing with the SEC.

Several other large investors also recently modified their holdings of SNA. State Street Corp grew its holdings in Snap-on by 0.5% during the 3rd quarter. State Street Corp now owns 2,115,973 shares of the company’s stock worth $613,019,000 after acquiring an additional 10,645 shares during the period. Charles Schwab Investment Management Inc. boosted its position in shares of Snap-on by 4.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,806,278 shares of the company’s stock valued at $613,195,000 after purchasing an additional 77,486 shares in the last quarter. Geode Capital Management LLC grew its stake in Snap-on by 4.5% during the third quarter. Geode Capital Management LLC now owns 1,613,459 shares of the company’s stock worth $466,199,000 after purchasing an additional 69,590 shares during the period. Nordea Investment Management AB increased its holdings in Snap-on by 12.8% in the fourth quarter. Nordea Investment Management AB now owns 1,128,317 shares of the company’s stock worth $384,813,000 after purchasing an additional 127,859 shares in the last quarter. Finally, Raymond James Financial Inc. acquired a new position in Snap-on in the fourth quarter valued at approximately $148,839,000. 84.88% of the stock is currently owned by institutional investors and hedge funds.

Snap-on Price Performance

Shares of SNA opened at $335.99 on Wednesday. The business’s fifty day moving average is $340.87 and its 200 day moving average is $332.70. Snap-on Incorporated has a 12-month low of $252.98 and a 12-month high of $373.90. The company has a quick ratio of 3.17, a current ratio of 4.15 and a debt-to-equity ratio of 0.22. The stock has a market cap of $17.61 billion, a P/E ratio of 17.23, a P/E/G ratio of 2.21 and a beta of 0.99.

Snap-on (NYSE:SNA) last released its quarterly earnings data on Thursday, February 6th. The company reported $4.82 earnings per share for the quarter, beating analysts’ consensus estimates 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 period last year, the business earned $4.75 EPS. Sell-side analysts anticipate that Snap-on Incorporated will post 19.79 earnings per share for the current fiscal year.

Snap-on Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Monday, February 24th were issued a dividend of $2.14 per share. This represents a $8.56 dividend on an annualized basis and a yield of 2.55%. The ex-dividend date was Monday, February 24th. Snap-on’s dividend payout ratio is currently 43.90%.

Analysts Set New Price Targets

Several analysts have recently commented on the stock. Barrington Research reaffirmed an “outperform” rating and set a $350.00 price objective on shares of Snap-on in a research report on Monday, February 10th. Tigress Financial raised their price target on shares of Snap-on from $385.00 to $390.00 and gave the stock a “buy” rating in a report on Tuesday, March 4th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $346.40.

Insider Activity

In other Snap-on news, SVP Jesus Arregui sold 6,451 shares of the company’s stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $337.81, for a total value of $2,179,212.31. Following the completion of the sale, the senior vice president now directly owns 257 shares of the company’s stock, valued at approximately $86,817.17. This represents a 96.17 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Aldo John Pagliari sold 6,860 shares of the business’s stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $339.05, for a total value of $2,325,883.00. Following the completion of the transaction, the chief financial officer now owns 107,096 shares in the company, valued at $36,310,898.80. The trade was a 6.02 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 4.10% of the company’s stock.

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.