Andra AP fonden Sells 8,153 Shares of Snap-On Incorporated $SNA

Andra AP fonden decreased its holdings in Snap-On Incorporated (NYSE:SNA) by 28.0% during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 20,915 shares of the company’s stock after selling 8,153 shares during the quarter. Andra AP fonden’s holdings in Snap-On were worth $7,248,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the stock. Generali Asset Management SPA SGR bought a new stake in shares of Snap-On in the 3rd quarter worth $2,068,000. Norges Bank bought a new position in shares of Snap-On during the second quarter valued at about $168,010,000. First Citizens Bank & Trust Co. boosted its holdings in Snap-On by 3.6% during the third quarter. First Citizens Bank & Trust Co. now owns 40,140 shares of the company’s stock worth $13,910,000 after purchasing an additional 1,404 shares during the last quarter. Vanguard Group Inc. boosted its holdings in Snap-On by 1.3% during the second quarter. Vanguard Group Inc. now owns 6,495,475 shares of the company’s stock worth $2,021,262,000 after purchasing an additional 80,422 shares during the last quarter. Finally, Nordea Investment Management AB grew its position in Snap-On by 3.0% in the 3rd quarter. Nordea Investment Management AB now owns 1,258,712 shares of the company’s stock worth $433,601,000 after purchasing an additional 36,964 shares in the last quarter. Institutional investors and hedge funds own 84.88% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have commented on SNA shares. Tigress Financial lifted their target price on shares of Snap-On from $405.00 to $445.00 and gave the stock a “buy” rating in a research report on Friday. Robert W. Baird set a $375.00 price target on Snap-On in a research report on Friday, February 6th. Roth Mkm reiterated a “buy” rating and set a $409.00 price target (up from $385.00) on shares of Snap-On in a report on Tuesday, February 10th. Weiss Ratings reissued a “buy (b)” rating on shares of Snap-On in a research report on Wednesday, January 21st. Finally, Wall Street Zen lowered Snap-On from a “buy” rating to a “hold” rating in a research report on Saturday, February 7th. Five research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $377.33.

Insider Activity

In other Snap-On news, VP June C. Lemerand sold 1,378 shares of the firm’s stock in a transaction dated Wednesday, February 25th. The stock was sold at an average price of $387.57, for a total value of $534,071.46. Following the completion of the transaction, the vice president owned 2,913 shares in the company, valued at $1,128,991.41. This trade represents a 32.11% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Aldo John Pagliari sold 7,043 shares of the company’s stock in a transaction dated Thursday, February 19th. The shares were sold at an average price of $382.05, for a total value of $2,690,778.15. Following the sale, the chief financial officer owned 117,183 shares in the company, valued at approximately $44,769,765.15. This represents a 5.67% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 75,855 shares of company stock valued at $27,629,827. 3.90% of the stock is currently owned by corporate insiders.

Snap-On Trading Down 0.4%

Shares of Snap-On stock opened at $384.95 on Friday. The stock has a market capitalization of $19.98 billion, a P/E ratio of 20.06, a P/E/G ratio of 2.66 and a beta of 0.81. Snap-On Incorporated has a 52-week low of $289.81 and a 52-week high of $390.13. The company has a debt-to-equity ratio of 0.20, a quick ratio of 3.68 and a current ratio of 4.79. The stock’s 50-day simple moving average is $367.79 and its 200 day simple moving average is $347.90.

Snap-On (NYSE:SNA) last issued its earnings results on Thursday, February 5th. The company reported $4.94 earnings per share for the quarter, topping analysts’ consensus estimates of $4.86 by $0.08. Snap-On had a net margin of 21.44% and a return on equity of 17.34%. The firm had revenue of $1.23 billion during the quarter, compared to analyst estimates of $1.24 billion. During the same quarter last year, the business earned $4.82 earnings per share. The company’s quarterly revenue was up 2.8% on a year-over-year basis. As a group, research analysts anticipate that Snap-On Incorporated will post 19.79 EPS for the current year.

Snap-On Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 10th. Shareholders of record on Tuesday, February 24th will be issued a dividend of $2.44 per share. The ex-dividend date of this dividend is Tuesday, February 24th. This represents a $9.76 dividend on an annualized basis and a yield of 2.5%. Snap-On’s payout ratio is presently 50.86%.

Snap-On Profile

Snap‑On Incorporated (NYSE: SNA) is a designer, manufacturer and marketer of tools, diagnostic equipment, repair information and shop equipment for professional users. The company’s product range includes hand and power tools, tool storage and cabinets, diagnostic scan tools and software, shop equipment such as lifts and tire changers, and specialized specialty tools for automotive, aviation, marine and industrial applications. Snap‑On also offers information and workflow solutions that combine diagnostic data, repair procedures and parts information to support professional technicians.

Founded in 1920 and headquartered in Kenosha, Wisconsin, Snap‑On has established a long history in the professional tools market.