Hsbc Holdings PLC Boosts Holdings in Snap-On Incorporated $SNA

Hsbc Holdings PLC grew its stake in shares of Snap-On Incorporated (NYSE:SNA) by 0.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 374,236 shares of the company’s stock after acquiring an additional 3,321 shares during the quarter. Hsbc Holdings PLC owned about 0.72% of Snap-On worth $128,974,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Thurston Springer Miller Herd & Titak Inc. acquired a new position in Snap-On during the 4th quarter worth approximately $25,000. DV Equities LLC acquired a new stake in Snap-On in the fourth quarter valued at approximately $25,000. GoalVest Advisory LLC acquired a new stake in Snap-On in the fourth quarter valued at approximately $28,000. Montag A & Associates Inc. boosted its position in Snap-On by 331.8% in the 4th quarter. Montag A & Associates Inc. now owns 95 shares of the company’s stock valued at $33,000 after buying an additional 73 shares during the last quarter. Finally, Quattro Advisors LLC purchased a new stake in shares of Snap-On during the fourth quarter worth about $35,000. 84.88% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on SNA shares. Robert W. Baird increased their price target on Snap-On from $380.00 to $395.00 and gave the company a “neutral” rating in a report on Friday, April 24th. Roth Mkm restated a “buy” rating and set a $431.00 price objective on shares of Snap-On in a report on Friday, April 24th. Weiss Ratings reiterated a “buy (b)” rating on shares of Snap-On in a research note on Monday, April 20th. Finally, Barclays started coverage on shares of Snap-On in a report on Thursday, May 28th. They set an “overweight” rating and a $420.00 price objective for the company. Five investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $387.67.

Snap-On Stock Performance

SNA stock opened at $412.09 on Friday. The company has a 50-day simple moving average of $380.65 and a 200 day simple moving average of $372.53. The company has a market capitalization of $21.35 billion, a P/E ratio of 21.27, a PEG ratio of 2.90 and a beta of 0.73. The company has a quick ratio of 2.74, a current ratio of 3.53 and a debt-to-equity ratio of 0.15. Snap-On Incorporated has a fifty-two week low of $310.23 and a fifty-two week high of $412.33.

Snap-On (NYSE:SNA) last released its earnings results on Thursday, April 23rd. The company reported $4.69 EPS for the quarter, missing the consensus estimate of $4.75 by ($0.06). The company had revenue of $1.21 billion for the quarter, compared to analyst estimates of $1.19 billion. Snap-On had a net margin of 21.28% and a return on equity of 17.13%. The firm’s quarterly revenue was up 5.8% on a year-over-year basis. During the same period in the previous year, the business posted $4.51 EPS. Sell-side analysts predict that Snap-On Incorporated will post 19.7 earnings per share for the current fiscal year.

Snap-On Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 10th. Stockholders of record on Wednesday, May 20th were issued a $2.44 dividend. The ex-dividend date was Wednesday, May 20th. This represents a $9.76 annualized dividend and a dividend yield of 2.4%. Snap-On’s dividend payout ratio is 50.39%.

Snap-On declared that its board has authorized a stock repurchase program on Thursday, April 30th that permits the company to repurchase $500.00 million in outstanding shares. This repurchase authorization permits the company to purchase up to 2.5% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s board of directors believes its stock is undervalued.

Insider Transactions at Snap-On

In other news, SVP Jesus Arregui sold 4,251 shares of Snap-On stock in a transaction that occurred on Wednesday, June 10th. The shares were sold at an average price of $383.92, for a total value of $1,632,043.92. Following the transaction, the senior vice president owned 4,439 shares of the company’s stock, valued at $1,704,220.88. The trade was a 48.92% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Nicholas T. Pinchuk sold 23,396 shares of the stock in a transaction that occurred on Tuesday, May 5th. The shares were sold at an average price of $375.77, for a total transaction of $8,791,514.92. Following the sale, the chief executive officer directly owned 856,918 shares of the company’s stock, valued at approximately $322,004,076.86. This represents a 2.66% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 37,117 shares of company stock worth $14,003,922. Corporate insiders own 3.80% of the company’s stock.

Snap-On Company Profile

Snap‑On Incorporated (NYSE: SNA) is a designer, manufacturer and marketer of tools, diagnostic equipment, repair information and shop equipment for professional users. The company’s product range includes hand and power tools, tool storage and cabinets, diagnostic scan tools and software, shop equipment such as lifts and tire changers, and specialized specialty tools for automotive, aviation, marine and industrial applications. Snap‑On also offers information and workflow solutions that combine diagnostic data, repair procedures and parts information to support professional technicians.

Founded in 1920 and headquartered in Kenosha, Wisconsin, Snap‑On has established a long history in the professional tools market.