Avanza Fonder AB Invests $2.56 Million in Snap-On Incorporated $SNA

Avanza Fonder AB acquired a new stake in shares of Snap-On Incorporated (NYSE:SNA) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 7,419 shares of the company’s stock, valued at approximately $2,557,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. BankPlus Trust Department boosted its position in Snap-On by 5.9% during the third quarter. BankPlus Trust Department now owns 541 shares of the company’s stock worth $187,000 after purchasing an additional 30 shares during the period. Nisa Investment Advisors LLC raised its position in shares of Snap-On by 0.4% in the third quarter. Nisa Investment Advisors LLC now owns 7,346 shares of the company’s stock valued at $2,546,000 after purchasing an additional 31 shares during the period. Cardinal Capital Management lifted its stake in shares of Snap-On by 0.3% in the third quarter. Cardinal Capital Management now owns 11,197 shares of the company’s stock worth $3,880,000 after buying an additional 32 shares during the last quarter. MFA Wealth Services lifted its stake in shares of Snap-On by 2.9% in the third quarter. MFA Wealth Services now owns 1,236 shares of the company’s stock worth $428,000 after buying an additional 35 shares during the last quarter. Finally, D.A. Davidson & CO. boosted its holdings in shares of Snap-On by 0.7% during the 3rd quarter. D.A. Davidson & CO. now owns 5,378 shares of the company’s stock worth $1,864,000 after buying an additional 36 shares during the period. 84.88% of the stock is currently owned by institutional investors and hedge funds.

Snap-On Stock Up 0.1%

Shares of SNA opened at $362.81 on Wednesday. Snap-On Incorporated has a 12 month low of $289.81 and a 12 month high of $390.13. The stock has a market cap of $18.89 billion, a price-to-earnings ratio of 18.91, a P/E/G ratio of 2.50 and a beta of 0.78. The company has a 50-day moving average price of $373.55 and a two-hundred day moving average price of $353.30. The company has a quick ratio of 3.68, a current ratio of 4.79 and a debt-to-equity ratio of 0.20.

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

Snap-On Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 10th. Shareholders of record on Tuesday, February 24th were issued a dividend of $2.44 per share. The ex-dividend date of this dividend was Tuesday, February 24th. This represents a $9.76 dividend on an annualized basis and a dividend yield of 2.7%. Snap-On’s dividend payout ratio (DPR) is presently 50.86%.

Analysts Set New Price Targets

A number of research firms recently issued reports on SNA. Wall Street Zen lowered shares of Snap-On from a “buy” rating to a “hold” rating in a research note on Saturday, February 7th. Tigress Financial upped their price target on shares of Snap-On from $405.00 to $445.00 and gave the company a “buy” rating in a report on Friday, February 27th. Roth Mkm reaffirmed a “buy” rating and issued a $409.00 price target (up from $385.00) on shares of Snap-On in a research report on Tuesday, February 10th. Weiss Ratings reiterated a “buy (b)” rating on shares of Snap-On in a research note on Wednesday, January 21st. Finally, Robert W. Baird set a $375.00 price objective on Snap-On in a research report on Friday, February 6th. Five investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Snap-On has an average rating of “Moderate Buy” and a consensus target price of $377.33.

Insider Buying and Selling

In other news, CFO Aldo John Pagliari sold 7,043 shares of the business’s stock in a transaction on 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. The trade was a 5.67% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Nicholas T. Pinchuk sold 23,229 shares of the business’s stock in a transaction on Monday, February 23rd. The shares were sold at an average price of $383.36, for a total transaction of $8,905,069.44. Following the completion of the sale, the chief executive officer owned 846,562 shares in the company, valued at $324,538,008.32. This represents a 2.67% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 39,650 shares of company stock valued at $15,210,959 in the last ninety days. Insiders own 3.80% of the company’s stock.

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.