AIA Group Ltd Grows Stake in Snap-on Incorporated (NYSE:SNA)

AIA Group Ltd increased its position in shares of Snap-on Incorporated (NYSE:SNA – Get Rating) by 59.3% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 962 shares of the company’s stock after purchasing an additional 358 shares during the quarter. AIA Group Ltd’s holdings in Snap-on were worth $198,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of the company. Independent Advisor Alliance raised its stake in shares of Snap-on by 48.1% during the 1st quarter. Independent Advisor Alliance now owns 1,509 shares of the company’s stock worth $310,000 after buying an additional 490 shares during the last quarter. BTC Capital Management Inc. raised its position in Snap-on by 92.6% during the first quarter. BTC Capital Management Inc. now owns 40,258 shares of the company’s stock worth $8,268,000 after acquiring an additional 19,360 shares during the last quarter. Empirical Asset Management LLC lifted its holdings in shares of Snap-on by 119.2% in the first quarter. Empirical Asset Management LLC now owns 5,009 shares of the company’s stock valued at $1,029,000 after purchasing an additional 2,724 shares in the last quarter. KBC Group NV grew its position in shares of Snap-on by 125.8% in the first quarter. KBC Group NV now owns 10,717 shares of the company’s stock valued at $2,202,000 after purchasing an additional 5,971 shares during the last quarter. Finally, IFM Investors Pty Ltd increased its stake in shares of Snap-on by 26.3% during the 1st quarter. IFM Investors Pty Ltd now owns 9,369 shares of the company’s stock worth $1,925,000 after purchasing an additional 1,951 shares in the last quarter. 87.92% of the stock is currently owned by hedge funds and other institutional investors.

Snap-on Stock Down 0.0 %

Shares of NYSE SNA opened at $223.00 on Friday. The firm has a market cap of $11.88 billion, a P/E ratio of 13.99, a price-to-earnings-growth ratio of 1.78 and a beta of 1.12. The company has a debt-to-equity ratio of 0.27, a quick ratio of 2.37 and a current ratio of 3.28. Snap-on Incorporated has a 1 year low of $190.08 and a 1 year high of $235.36. The firm’s 50 day moving average price is $208.44 and its 200 day moving average price is $210.96.

Snap-on (NYSE:SNA – Get Rating) last posted its quarterly earnings data on Thursday, July 21st. The company reported $4.27 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.91 by $0.36. The business had revenue of $1.14 billion for the quarter, compared to analysts’ expectations of $1.10 billion. Snap-on had a return on equity of 20.51% and a net margin of 19.83%. The business’s revenue was up 5.1% on a year-over-year basis. During the same quarter last year, the firm earned $3.76 earnings per share. As a group, sell-side analysts anticipate that Snap-on Incorporated will post 15.93 earnings per share for the current year.

Snap-on Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 9th. Stockholders of record on Friday, August 19th will be issued a dividend of $1.42 per share. This represents a $5.68 annualized dividend and a dividend yield of 2.55%. Snap-on’s payout ratio is currently 35.63%.

Wall Street Analysts Forecast Growth

SNA has been the topic of a number of recent research reports. UBS Group reduced their target price on Snap-on to $175.00 in a research note on Friday, July 22nd. MKM Partners assumed coverage on Snap-on in a research report on Thursday, June 9th. They issued a “neutral” rating and a $238.00 price objective on the stock. Finally, Tigress Financial increased their price objective on Snap-on from $295.00 to $298.00 and gave the company a “buy” rating in a research note on Monday, April 25th.

Insider Buying and Selling

In other Snap-on news, SVP Jesus Arregui sold 488 shares of the stock in a transaction that occurred on Friday, August 5th. The shares were sold at an average price of $223.31, for a total transaction of $108,975.28. Following the transaction, the senior vice president now owns 2,409 shares of the company’s stock, valued at $537,953.79. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Snap-on news, SVP Jesus Arregui sold 488 shares of the firm’s stock in a transaction dated Friday, August 5th. The stock was sold at an average price of $223.31, for a total value of $108,975.28. Following the transaction, the senior vice president now directly owns 2,409 shares of the company’s stock, valued at $537,953.79. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Nicholas T. Pinchuk sold 19,394 shares of the company’s stock in a transaction dated Wednesday, June 1st. The shares were sold at an average price of $216.58, for a total transaction of $4,200,352.52. Following the completion of the transaction, the chief executive officer now directly owns 622,123 shares of the company’s stock, valued at $134,739,399.34. The disclosure for this sale can be found here. Corporate insiders own 4.30% of the company’s stock.

Snap-on Profile

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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.