Zions Bancorporation N.A. Has $606,000 Stake in Snap-on Incorporated (NYSE:SNA)

Zions Bancorporation N.A. raised its stake in shares of Snap-on Incorporated (NYSE:SNA) by 52.9% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,784 shares of the company’s stock after buying an additional 617 shares during the quarter. Zions Bancorporation N.A.’s holdings in Snap-on were worth $606,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of SNA. Bleakley Financial Group LLC bought a new stake in Snap-on in the fourth quarter valued at approximately $512,000. Vest Financial LLC increased its position in shares of Snap-on by 2.4% in the 4th quarter. Vest Financial LLC now owns 102,987 shares of the company’s stock valued at $34,962,000 after buying an additional 2,460 shares in the last quarter. Sanctuary Advisors LLC raised its stake in Snap-on by 3.6% during the 3rd quarter. Sanctuary Advisors LLC now owns 45,783 shares of the company’s stock worth $13,264,000 after buying an additional 1,605 shares during the period. World Investment Advisors LLC bought a new position in Snap-on during the third quarter worth about $19,291,000. Finally, Avanza Fonder AB acquired a new position in Snap-on in the fourth quarter valued at about $1,936,000. 84.88% of the stock is owned by institutional investors.

Snap-on Stock Performance

Shares of Snap-on stock opened at $337.39 on Thursday. The company has a debt-to-equity ratio of 0.22, a current ratio of 4.15 and a quick ratio of 3.17. The firm has a market cap of $17.69 billion, a price-to-earnings ratio of 17.30, a price-to-earnings-growth ratio of 2.21 and a beta of 0.99. Snap-on Incorporated has a one year low of $252.98 and a one year high of $373.90. The stock’s 50-day moving average is $340.71 and its 200-day moving average is $332.73.

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

Snap-on Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Monday, February 24th were paid a $2.14 dividend. The ex-dividend date of this dividend was Monday, February 24th. This represents a $8.56 annualized dividend and a yield of 2.54%. Snap-on’s payout ratio is currently 43.90%.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on SNA. Barrington Research reaffirmed an “outperform” rating and set a $350.00 price target on shares of Snap-on in a research report on Monday, February 10th. Tigress Financial raised their target price 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 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. According to data from MarketBeat.com, Snap-on presently has a consensus rating of “Hold” and a consensus target price of $346.40.

Insiders Place Their Bets

In related news, SVP Jesus Arregui sold 6,451 shares of the business’s stock in a transaction 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 transaction, the senior vice president now directly owns 257 shares in the company, valued at approximately $86,817.17. The trade was a 96.17 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Aldo John Pagliari sold 6,860 shares of the stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $339.05, for a total transaction of $2,325,883.00. Following the completion of the sale, the chief financial officer now owns 107,096 shares of the company’s stock, 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. 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.