5,704 Shares in Snap-on Incorporated (NYSE:SNA) Acquired by Avanza Fonder AB

Avanza Fonder AB bought a new position in Snap-on Incorporated (NYSE:SNA) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 5,704 shares of the company’s stock, valued at approximately $1,936,000.

A number of other institutional investors have also recently modified their holdings of SNA. State Street Corp boosted its stake in Snap-on by 0.5% in the 3rd quarter. State Street Corp now owns 2,115,973 shares of the company’s stock worth $613,019,000 after purchasing an additional 10,645 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of Snap-on by 3.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,728,792 shares of the company’s stock worth $500,848,000 after buying an additional 56,266 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Snap-on by 4.5% during the third quarter. Geode Capital Management LLC now owns 1,613,459 shares of the company’s stock valued at $466,199,000 after buying an additional 69,590 shares during the last quarter. Nordea Investment Management AB increased its position in shares of Snap-on by 12.8% during the fourth quarter. Nordea Investment Management AB now owns 1,128,317 shares of the company’s stock valued at $384,813,000 after acquiring an additional 127,859 shares in the last quarter. Finally, Earnest Partners LLC lifted its position in Snap-on by 1.4% in the 2nd quarter. Earnest Partners LLC now owns 942,743 shares of the company’s stock valued at $246,424,000 after acquiring an additional 13,033 shares in the last quarter. 84.88% of the stock is owned by hedge funds and other institutional investors.

Snap-on Price Performance

Shares of NYSE:SNA opened at $348.17 on Friday. The company has a quick ratio of 3.14, a current ratio of 4.18 and a debt-to-equity ratio of 0.22. The stock has a market capitalization of $18.28 billion, a PE ratio of 17.92, a price-to-earnings-growth ratio of 2.09 and a beta of 1.00. The firm’s 50 day moving average price is $351.33 and its 200-day moving average price is $310.37. Snap-on Incorporated has a twelve month low of $252.98 and a twelve month high of $373.89.

Snap-on (NYSE:SNA) last released its quarterly earnings results 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. Snap-on had a net margin of 22.13% and a return on equity of 19.44%. The business had revenue of $1.15 billion for the quarter, compared to the consensus estimate of $1.16 billion. Equities research analysts expect that Snap-on Incorporated will post 19.05 EPS for the current year.

Snap-on Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 10th. Investors of record on Thursday, November 21st were issued a $2.14 dividend. This is a boost from Snap-on’s previous quarterly dividend of $1.86. This represents a $8.56 dividend on an annualized basis and a yield of 2.46%. The ex-dividend date was Thursday, November 21st. Snap-on’s dividend payout ratio (DPR) is currently 44.06%.

Insider Activity at Snap-on

In related news, CEO Nicholas T. Pinchuk sold 21,783 shares of the company’s stock in a transaction on Monday, December 9th. The shares were sold at an average price of $354.83, for a total value of $7,729,261.89. Following the completion of the transaction, the chief executive officer now owns 769,738 shares of the company’s stock, valued at approximately $273,126,134.54. This represents a 2.75 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, VP June C. Lemerand sold 3,500 shares of the firm’s stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $362.86, for a total value of $1,270,010.00. Following the sale, the vice president now directly owns 2,289 shares in the company, valued at approximately $830,586.54. This represents a 60.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 44,929 shares of company stock worth $15,645,074. Corporate insiders own 4.10% of the company’s stock.

Analysts Set New Price Targets

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

Snap-on Company 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.