Zions Bancorporation N.A. Has $338,000 Stake in Snap-on Incorporated (NYSE:SNA)

Zions Bancorporation N.A. lifted its stake in Snap-on Incorporated (NYSE:SNA) by 24.8% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,167 shares of the company’s stock after purchasing an additional 232 shares during the period. Zions Bancorporation N.A.’s holdings in Snap-on were worth $338,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of the stock. Opal Wealth Advisors LLC acquired a new stake in shares of Snap-on in the 2nd quarter valued at $30,000. Reston Wealth Management LLC acquired a new stake in Snap-on in the third quarter worth about $30,000. Innealta Capital LLC bought a new stake in Snap-on during the 2nd quarter worth about $32,000. Massmutual Trust Co. FSB ADV grew its position in shares of Snap-on by 53.0% during the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 127 shares of the company’s stock worth $37,000 after buying an additional 44 shares during the period. Finally, Quarry LP raised its stake in shares of Snap-on by 244.7% during the second quarter. Quarry LP now owns 162 shares of the company’s stock worth $42,000 after buying an additional 115 shares during the last quarter. Institutional investors own 84.88% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have issued reports on the stock. Robert W. Baird raised their price objective on shares of Snap-on from $290.00 to $347.00 and gave the company a “neutral” rating in a research note on Friday, October 18th. Tigress Financial increased their target price on Snap-on from $336.00 to $385.00 and gave the company a “buy” rating in a research note on Friday, October 25th. Barrington Research boosted their target price on Snap-on from $325.00 to $350.00 and gave the stock an “outperform” rating in a research report on Thursday, October 17th. Roth Mkm lifted their target price on Snap-on from $324.00 to $365.00 and gave the stock a “buy” rating in a report on Tuesday, October 22nd. Finally, Bank of America raised their price target on Snap-on from $255.00 to $280.00 and gave the stock an “underperform” rating in a research report on Friday, October 18th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $345.40.

Insider Transactions at Snap-on

In related news, VP June C. Lemerand sold 1,186 shares of the firm’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $283.97, for a total value of $336,788.42. Following the completion of the sale, the vice president now directly owns 2,283 shares in the company, valued at approximately $648,303.51. This trade represents a 34.19 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP Thomas J. Ward sold 12,737 shares of the firm’s stock in a transaction that occurred on Monday, October 28th. The shares were sold at an average price of $333.21, for a total value of $4,244,095.77. Following the completion of the sale, the senior vice president now directly owns 55,401 shares of the company’s stock, valued at approximately $18,460,167.21. The trade was a 18.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 26,190 shares of company stock worth $8,212,284 in the last 90 days. Corporate insiders own 4.10% of the company’s stock.

Snap-on Stock Performance

Shares of SNA stock opened at $357.06 on Friday. Snap-on Incorporated has a 12 month low of $252.98 and a 12 month high of $365.35. The company’s fifty day simple moving average is $309.42 and its 200-day simple moving average is $284.95. The firm has a market cap of $18.75 billion, a PE ratio of 18.38, a P/E/G ratio of 2.39 and a beta of 0.96. The company has a quick ratio of 3.14, a current ratio of 4.18 and a debt-to-equity ratio of 0.22.

Snap-on (NYSE:SNA) last posted its quarterly earnings data on Thursday, October 17th. The company reported $4.70 EPS for the quarter, topping analysts’ consensus estimates of $4.58 by $0.12. The company had revenue of $1.15 billion during the quarter, compared to the consensus estimate of $1.16 billion. Snap-on had a net margin of 22.13% and a return on equity of 19.44%. Equities research analysts expect that Snap-on Incorporated will post 19.05 EPS for the current fiscal year.

Snap-on Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Thursday, November 21st will be given a dividend of $2.14 per share. This is a positive change from Snap-on’s previous quarterly dividend of $1.86. The ex-dividend date is Thursday, November 21st. This represents a $8.56 annualized dividend and a dividend yield of 2.40%. Snap-on’s payout ratio is 38.29%.

Snap-on declared that its Board of Directors has authorized a share buyback program on Thursday, August 8th that permits the company to buyback $500.00 million in outstanding shares. This buyback authorization permits the company to buy up to 3.5% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s management believes its shares are undervalued.

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.