Harvest Fund Management Co. Ltd Grows Holdings in Snap-on Incorporated (NYSE:SNA)

Harvest Fund Management Co. Ltd increased its position in shares of Snap-on Incorporated (NYSE:SNA) by 1,820.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 557 shares of the company’s stock after purchasing an additional 528 shares during the quarter. Harvest Fund Management Co. Ltd’s holdings in Snap-on were worth $189,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Generali Asset Management SPA SGR purchased a new position in Snap-on during the fourth quarter worth about $2,858,000. Kensington Investment Counsel LLC boosted its holdings in Snap-on by 3.6% during the fourth quarter. Kensington Investment Counsel LLC now owns 20,294 shares of the company’s stock worth $6,889,000 after purchasing an additional 709 shares during the last quarter. TCTC Holdings LLC boosted its stake in Snap-on by 41.3% in the fourth quarter. TCTC Holdings LLC now owns 147 shares of the company’s stock valued at $50,000 after acquiring an additional 43 shares during the last quarter. Cibc World Markets Corp boosted its stake in Snap-on by 16.1% in the fourth quarter. Cibc World Markets Corp now owns 8,301 shares of the company’s stock valued at $2,818,000 after acquiring an additional 1,153 shares during the last quarter. Finally, SouthState Corp boosted its stake in Snap-on by 1.0% in the fourth quarter. SouthState Corp now owns 22,025 shares of the company’s stock valued at $7,477,000 after acquiring an additional 221 shares during the last quarter. 84.88% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, SVP Jesus Arregui sold 6,451 shares of the company’s stock in a transaction on 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 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 Securities & Exchange Commission, which is accessible through this link. 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 sale, the chief financial officer now directly owns 107,096 shares of the company’s stock, 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. 4.10% of the stock is currently owned by insiders.

Snap-on Stock Performance

Shares of SNA stock opened at $327.59 on Friday. The stock has a market capitalization of $17.17 billion, a P/E ratio of 16.80, a PEG ratio of 2.21 and a beta of 0.99. The company has a current ratio of 4.15, a quick ratio of 3.17 and a debt-to-equity ratio of 0.22. The firm’s 50 day moving average is $340.99 and its 200 day moving average is $331.41. Snap-on Incorporated has a 12 month low of $252.98 and a 12 month high of $373.90.

Snap-on (NYSE:SNA) last announced its quarterly earnings results on Thursday, February 6th. The company reported $4.82 EPS 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 quarter in the previous year, the company posted $4.75 EPS. On average, sell-side analysts anticipate that Snap-on Incorporated will post 19.79 earnings per share for the current year.

Snap-on Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Monday, February 24th were paid a dividend of $2.14 per share. This represents a $8.56 dividend on an annualized basis and a dividend yield of 2.61%. The ex-dividend date was Monday, February 24th. Snap-on’s payout ratio is currently 43.90%.

Wall Street Analyst Weigh In

A number of research firms have weighed in on SNA. Tigress Financial boosted their target price on shares of Snap-on from $385.00 to $390.00 and gave the company a “buy” rating in a research note on Tuesday, March 4th. Barrington Research reiterated an “outperform” rating and issued a $350.00 target price on shares of Snap-on in a research note on Monday, February 10th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $346.40.

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.