Point72 Hong Kong Ltd Buys Shares of 1,253 Snap-on Incorporated (NYSE:SNA)
Point72 Hong Kong Ltd bought a new stake in Snap-on Incorporated (NYSE:SNA) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 1,253 shares of the company’s stock, valued at approximately $212,000.
Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Credit Agricole S A purchased a new position in shares of Snap-on during the fourth quarter valued at $31,000. Quantbot Technologies LP acquired a new stake in Snap-on during the 4th quarter worth about $61,000. Whittier Trust Co. acquired a new stake in Snap-on during the 4th quarter worth about $65,000. Stonebridge Financial Planning Group LLC purchased a new position in Snap-on during the 4th quarter valued at about $76,000. Finally, Orion Portfolio Solutions LLC purchased a new position in Snap-on during the 4th quarter valued at about $76,000. Institutional investors own 95.70% of the company’s stock.
Shares of SNA traded up $3.60 during midday trading on Thursday, reaching $113.54. 951,837 shares of the stock were exchanged, compared to its average volume of 567,762. Snap-on Incorporated has a 12-month low of $90.72 and a 12-month high of $174.00. The firm has a 50 day simple moving average of $140.24 and a 200-day simple moving average of $157.20. The company has a quick ratio of 1.71, a current ratio of 2.51 and a debt-to-equity ratio of 0.29. The company has a market cap of $5.83 billion, a price-to-earnings ratio of 9.14, a P/E/G ratio of 0.87 and a beta of 1.19.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 10th. Shareholders of record on Monday, February 24th were paid a $1.08 dividend. This represents a $4.32 dividend on an annualized basis and a yield of 3.80%. The ex-dividend date was Friday, February 21st. Snap-on’s dividend payout ratio (DPR) is presently 35.24%.
A number of research firms have recently issued reports on SNA. Barrington Research reissued a “buy” rating and issued a $185.00 price target on shares of Snap-on in a research report on Friday, February 7th. ValuEngine upgraded shares of Snap-on from a “sell” rating to a “hold” rating in a research note on Friday, March 13th. Northcoast Research reiterated a “neutral” rating on shares of Snap-on in a research report on Friday, February 7th. Longbow Research reissued a “hold” rating on shares of Snap-on in a research note on Wednesday. Finally, Robert W. Baird lowered their price target on shares of Snap-on from $169.00 to $159.00 and set a “neutral” rating on the stock in a report on Wednesday, February 5th. One analyst has rated the stock with a sell rating, five have issued a hold rating and three have given a buy rating to the company’s stock. Snap-on currently has an average rating of “Hold” and a consensus target price of $171.60.
In other Snap-on news, SVP Timothy L. Chambers sold 4,320 shares of the business’s stock in a transaction dated Friday, February 7th. The stock was sold at an average price of $156.54, for a total value of $676,252.80. Following the completion of the sale, the senior vice president now owns 14,056 shares of the company’s stock, valued at $2,200,326.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director William Dudley Lehman sold 422 shares of the business’s stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $155.20, for a total value of $65,494.40. Following the completion of the sale, the director now directly owns 10,429 shares of the company’s stock, valued at approximately $1,618,580.80. The disclosure for this sale can be found here. Insiders own 4.20% of the company’s stock.
Snap-on Incorporated manufactures and markets tools, equipment, diagnostics, and repair information and systems solutions for professional users worldwide. It operates through Commercial and Industrial Group, Snap-on Tools Group, and Repair Systems & Information Group segments. The company offers hand tools, including wrenches, sockets, ratchet wrenches, pliers, screwdrivers, punches and chisels, saws and cutting tools, pruning tools, torque measuring instruments, and other products; power tools, such as cordless, pneumatic, hydraulic, and corded tools; and tool storage products comprising tool chests, roll cabinets, and other products.
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