KBC Group NV Has $4.47 Million Stock Holdings in Snap-on Incorporated (NYSE:SNA)

KBC Group NV increased its holdings in shares of Snap-on Incorporated (NYSE:SNA) by 1.8% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 15,437 shares of the company’s stock after acquiring an additional 271 shares during the quarter. KBC Group NV’s holdings in Snap-on were worth $4,472,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of SNA. Reston Wealth Management LLC bought a new stake in shares of Snap-on during the 3rd quarter valued at approximately $30,000. Opal Wealth Advisors LLC bought a new stake in Snap-on during the 2nd quarter valued at $30,000. Innealta Capital LLC bought a new position in shares of Snap-on in the second quarter valued at approximately $32,000. Massmutual Trust Co. FSB ADV grew its position in Snap-on by 53.0% in the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 127 shares of the company’s stock worth $37,000 after purchasing an additional 44 shares in the last quarter. Finally, Quarry LP increased its position in shares of Snap-on by 244.7% during the 2nd quarter. Quarry LP now owns 162 shares of the company’s stock valued at $42,000 after purchasing an additional 115 shares during the last quarter. 84.88% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

Insider Buying and Selling at Snap-on

In other Snap-on news, CFO Aldo John Pagliari sold 4,473 shares of the business’s stock in a transaction dated Thursday, August 22nd. The stock was sold at an average price of $278.74, for a total transaction of $1,246,804.02. Following the transaction, the chief financial officer now owns 99,244 shares in the company, valued at $27,663,272.56. The trade was a 4.31 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Thomas J. Ward sold 12,737 shares of Snap-on stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $333.21, for a total value of $4,244,095.77. Following the sale, the senior vice president now directly owns 55,401 shares in the company, valued at approximately $18,460,167.21. The trade was a 18.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 26,190 shares of company stock worth $8,212,284. 4.10% of the stock is owned by insiders.

Snap-on Price Performance

NYSE:SNA opened at $357.06 on Monday. The stock’s fifty day moving average is $309.42 and its two-hundred day moving average is $285.19. The company has a market capitalization of $18.75 billion, a P/E ratio of 18.38, a P/E/G ratio of 2.36 and a beta of 0.96. Snap-on Incorporated has a 52 week low of $252.98 and a 52 week high of $365.35. The company has a quick ratio of 3.14, a current ratio of 4.18 and a debt-to-equity ratio of 0.22.

Snap-on (NYSE:SNA) last announced its quarterly earnings results on Thursday, October 17th. The company reported $4.70 EPS for the quarter, beating the consensus estimate of $4.58 by $0.12. Snap-on had a net margin of 22.13% and a return on equity of 19.44%. The company had revenue of $1.15 billion for the quarter, compared to analyst estimates of $1.16 billion. Equities analysts expect that Snap-on Incorporated will post 19.05 EPS for the current year.

Snap-on Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Thursday, November 21st will be paid a dividend of $2.14 per share. This represents a $8.56 annualized dividend and a dividend yield of 2.40%. The ex-dividend date is Thursday, November 21st. This is an increase from Snap-on’s previous quarterly dividend of $1.86. Snap-on’s payout ratio is 38.29%.

Snap-on declared that its Board of Directors has authorized a stock buyback plan on Thursday, August 8th that permits the company to buyback $500.00 million in shares. This buyback authorization permits the company to reacquire up to 3.5% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s leadership believes its stock is undervalued.

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.