First Hawaiian Bank Cuts Stock Holdings in Snap-on Incorporated (NYSE:SNA)

First Hawaiian Bank reduced its position in shares of Snap-on Incorporated (NYSE:SNA) by 5.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,948 shares of the company’s stock after selling 121 shares during the period. First Hawaiian Bank’s holdings in Snap-on were worth $661,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Reston Wealth Management LLC purchased a new stake in Snap-on during the 3rd quarter worth approximately $30,000. Massmutual Trust Co. FSB ADV increased its stake in Snap-on by 53.0% during the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 127 shares of the company’s stock worth $37,000 after buying an additional 44 shares in the last quarter. Brooklyn Investment Group purchased a new stake in Snap-on during the 3rd quarter worth approximately $39,000. Quarry LP increased its stake in Snap-on by 244.7% during the 2nd quarter. Quarry LP now owns 162 shares of the company’s stock worth $42,000 after buying an additional 115 shares in the last quarter. Finally, nVerses Capital LLC purchased a new stake in Snap-on during the 3rd quarter worth approximately $58,000. 84.88% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

SNA has been the subject of a number of analyst reports. Robert W. Baird upped their price target on Snap-on from $290.00 to $347.00 and gave the company a “neutral” rating in a research report on Friday, October 18th. Bank of America upped their price target on Snap-on from $255.00 to $280.00 and gave the company an “underperform” rating in a research report on Friday, October 18th. Barrington Research upped their price target on Snap-on from $325.00 to $350.00 and gave the company an “outperform” rating in a research report on Thursday, October 17th. Tigress Financial upped their price target on Snap-on from $336.00 to $385.00 and gave the company a “buy” rating in a research report on Friday, October 25th. Finally, Roth Mkm upped their price target on Snap-on from $324.00 to $365.00 and gave the company a “buy” rating in a research report on Tuesday, October 22nd. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $345.40.

Snap-on Trading Down 1.4 %

Shares of Snap-on stock opened at $332.27 on Friday. The firm has a market capitalization of $17.45 billion, a price-to-earnings ratio of 17.10, a PEG ratio of 2.35 and a beta of 1.00. Snap-on Incorporated has a fifty-two week low of $252.98 and a fifty-two week high of $373.89. The company has a debt-to-equity ratio of 0.22, a quick ratio of 3.14 and a current ratio of 4.18. The stock has a 50 day moving average of $351.56 and a 200 day moving average of $306.66.

Snap-on (NYSE:SNA) last issued its quarterly earnings data on Thursday, October 17th. The company reported $4.70 earnings per share for the quarter, topping the consensus estimate of $4.58 by $0.12. The company had revenue of $1.15 billion during the quarter, compared to analyst estimates of $1.16 billion. Snap-on had a return on equity of 19.44% and a net margin of 22.13%. As a group, research analysts predict that Snap-on Incorporated will post 19.05 earnings per share for the current year.

Snap-on Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Thursday, November 21st were paid a dividend of $2.14 per share. This represents a $8.56 dividend on an annualized basis and a yield of 2.58%. This is a boost from Snap-on’s previous quarterly dividend of $1.86. The ex-dividend date was Thursday, November 21st. Snap-on’s dividend payout ratio is 44.06%.

Insiders Place Their Bets

In other Snap-on news, CFO Aldo John Pagliari sold 6,909 shares of the company’s stock in a transaction on Wednesday, December 18th. The stock was sold at an average price of $347.62, for a total transaction of $2,401,706.58. Following the transaction, the chief financial officer now directly owns 100,668 shares in the company, valued at $34,994,210.16. This represents a 6.42 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP June C. Lemerand sold 3,500 shares of the company’s stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $362.86, for a total value of $1,270,010.00. Following the transaction, the vice president now owns 2,289 shares in the company, valued at $830,586.54. This trade represents a 60.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 52,723 shares of company stock worth $18,029,670 over the last ninety days. Corporate 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.