Park National Corp OH Sells 50 Shares of Snap-on Incorporated (NYSE:SNA)

Park National Corp OH decreased its position in shares of Snap-on Incorporated (NYSE:SNA) by 4.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 975 shares of the company’s stock after selling 50 shares during the period. Park National Corp OH’s holdings in Snap-on were worth $289,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the stock. Nordea Investment Management AB increased its position in shares of Snap-on by 52.8% in the fourth quarter. Nordea Investment Management AB now owns 864,565 shares of the company’s stock worth $249,743,000 after purchasing an additional 298,727 shares during the period. Northern Trust Corp increased its position in shares of Snap-on by 4.6% in the third quarter. Northern Trust Corp now owns 834,148 shares of the company’s stock worth $212,758,000 after purchasing an additional 36,556 shares during the period. Earnest Partners LLC increased its position in shares of Snap-on by 5.8% in the third quarter. Earnest Partners LLC now owns 775,131 shares of the company’s stock worth $197,705,000 after purchasing an additional 42,701 shares during the period. Dimensional Fund Advisors LP boosted its stake in Snap-on by 0.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 773,087 shares of the company’s stock valued at $223,304,000 after buying an additional 3,449 shares in the last quarter. Finally, Envestnet Asset Management Inc. boosted its stake in Snap-on by 2.3% in the fourth quarter. Envestnet Asset Management Inc. now owns 755,445 shares of the company’s stock valued at $218,203,000 after buying an additional 16,972 shares in the last quarter. Institutional investors own 84.88% of the company’s stock.

Insider Transactions at Snap-on

In other news, CEO Nicholas T. Pinchuk sold 24,220 shares of Snap-on stock in a transaction on Tuesday, June 4th. The stock was sold at an average price of $266.80, for a total transaction of $6,461,896.00. Following the sale, the chief executive officer now directly owns 750,663 shares in the company, valued at approximately $200,276,888.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, SVP Jesus Arregui sold 8,434 shares of the business’s stock in a transaction dated Wednesday, May 29th. The stock was sold at an average price of $265.17, for a total value of $2,236,443.78. Following the sale, the senior vice president now directly owns 252 shares in the company, valued at approximately $66,822.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Nicholas T. Pinchuk sold 24,220 shares of the business’s stock in a transaction dated Tuesday, June 4th. The shares were sold at an average price of $266.80, for a total value of $6,461,896.00. Following the completion of the sale, the chief executive officer now owns 750,663 shares in the company, valued at $200,276,888.40. The disclosure for this sale can be found here. Insiders have sold 39,336 shares of company stock worth $10,563,314 in the last ninety days. Company insiders own 4.10% of the company’s stock.

Snap-on Stock Up 0.3 %

SNA traded up $0.83 during mid-day trading on Tuesday, reaching $269.06. 113,616 shares of the stock were exchanged, compared to its average volume of 287,683. The company has a debt-to-equity ratio of 0.23, a quick ratio of 2.83 and a current ratio of 3.82. The stock has a market capitalization of $14.18 billion, a PE ratio of 14.07, a price-to-earnings-growth ratio of 1.81 and a beta of 0.99. The company has a 50 day moving average price of $273.88 and a two-hundred day moving average price of $280.88. Snap-on Incorporated has a 1 year low of $249.84 and a 1 year high of $298.49.

Snap-on (NYSE:SNA) last released its earnings results on Thursday, April 18th. The company reported $4.75 EPS for the quarter, topping analysts’ consensus estimates of $4.66 by $0.09. The company had revenue of $1.18 billion for the quarter, compared to analysts’ expectations of $1.20 billion. Snap-on had a return on equity of 20.46% and a net margin of 21.69%. The business’s revenue for the quarter was down .1% compared to the same quarter last year. During the same period in the previous year, the business posted $4.60 EPS. As a group, research analysts anticipate that Snap-on Incorporated will post 19.01 EPS for the current year.

Snap-on Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 10th. Stockholders of record on Monday, May 20th were paid a dividend of $1.86 per share. This represents a $7.44 dividend on an annualized basis and a dividend yield of 2.77%. The ex-dividend date was Friday, May 17th. Snap-on’s payout ratio is 39.03%.

Wall Street Analysts Forecast Growth

SNA has been the topic of several research analyst reports. Roth Mkm reaffirmed a “buy” rating and issued a $324.00 price objective on shares of Snap-on in a research note on Thursday, April 18th. Barrington Research reissued an “outperform” rating and set a $325.00 price target on shares of Snap-on in a research note on Wednesday, May 22nd. Finally, Robert W. Baird cut their price target on Snap-on from $295.00 to $282.00 and set a “neutral” rating on the stock in a research note on Friday, April 19th. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, Snap-on currently has an average rating of “Moderate Buy” and a consensus price target of $316.75.

About Snap-on

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.