DNB Asset Management AS Grows Position in Snap-On Incorporated $SNA

DNB Asset Management AS grew its position in shares of Snap-On Incorporated (NYSE:SNA) by 65.5% in the third quarter, according to its most recent filing with the SEC. The fund owned 23,702 shares of the company’s stock after acquiring an additional 9,377 shares during the quarter. DNB Asset Management AS’s holdings in Snap-On were worth $8,213,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. lifted its stake in shares of Snap-On by 1.3% during the 2nd quarter. Vanguard Group Inc. now owns 6,495,475 shares of the company’s stock worth $2,021,262,000 after acquiring an additional 80,422 shares during the last quarter. State Street Corp increased its holdings in shares of Snap-On by 0.6% in the 2nd quarter. State Street Corp now owns 2,207,840 shares of the company’s stock valued at $687,036,000 after acquiring an additional 12,184 shares during the period. Charles Schwab Investment Management Inc. grew its stake in Snap-On by 1.9% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 1,958,005 shares of the company’s stock worth $609,292,000 after buying an additional 36,421 shares during the last quarter. First Trust Advisors LP raised its stake in Snap-On by 40.7% in the second quarter. First Trust Advisors LP now owns 1,892,708 shares of the company’s stock valued at $588,973,000 after buying an additional 547,527 shares during the last quarter. Finally, Nordea Investment Management AB boosted its stake 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. 84.88% of the stock is currently owned by hedge funds and other institutional investors.

Snap-On Stock Performance

Shares of SNA opened at $384.95 on Monday. The company has a quick ratio of 3.68, a current ratio of 4.79 and a debt-to-equity ratio of 0.20. The stock has a 50 day moving average price of $367.79 and a 200 day moving average price of $348.00. The company has a market capitalization of $19.98 billion, a price-to-earnings ratio of 20.06, a price-to-earnings-growth ratio of 2.66 and a beta of 0.78. Snap-On Incorporated has a 52-week low of $289.81 and a 52-week high of $390.13.

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

Snap-On Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 10th. Stockholders of record on Tuesday, February 24th will be given a $2.44 dividend. The ex-dividend date is Tuesday, February 24th. This represents a $9.76 dividend on an annualized basis and a dividend yield of 2.5%. Snap-On’s dividend payout ratio (DPR) is currently 50.86%.

Insider Activity at Snap-On

In other Snap-On news, SVP Timothy L. Chambers sold 8,000 shares of the firm’s stock in a transaction on Wednesday, February 4th. The stock was sold at an average price of $385.13, for a total transaction of $3,081,040.00. Following the completion of the transaction, the senior vice president owned 19,480 shares of the company’s stock, valued at approximately $7,502,332.40. This trade represents a 29.11% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, VP June C. Lemerand sold 1,378 shares of the business’s stock in a transaction that occurred on Wednesday, February 25th. The shares were sold at an average price of $387.57, for a total transaction of $534,071.46. Following the completion of the transaction, the vice president directly owned 2,913 shares of the company’s stock, valued at approximately $1,128,991.41. This represents a 32.11% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 75,855 shares of company stock valued at $27,629,827 in the last quarter. 3.90% of the stock is owned by corporate insiders.

Analyst Ratings Changes

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

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.