Snap-On Incorporated $SNA Shares Acquired by Skandinaviska Enskilda Banken AB publ

Skandinaviska Enskilda Banken AB publ lifted its stake in shares of Snap-On Incorporated (NYSE:SNA) by 5.0% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 61,902 shares of the company’s stock after purchasing an additional 2,945 shares during the period. Skandinaviska Enskilda Banken AB publ’s holdings in Snap-On were worth $21,458,000 as of its most recent filing with the SEC.

Several other large investors have also recently added to or reduced their stakes in the company. Tobam bought a new stake in shares of Snap-On in the 2nd quarter worth approximately $29,000. Vermillion & White Wealth Management Group LLC raised its position in shares of Snap-On by 97.9% during the 2nd quarter. Vermillion & White Wealth Management Group LLC now owns 95 shares of the company’s stock worth $30,000 after buying an additional 47 shares in the last quarter. SJS Investment Consulting Inc. lifted its holdings in shares of Snap-On by 1,880.0% in the third quarter. SJS Investment Consulting Inc. now owns 99 shares of the company’s stock valued at $34,000 after buying an additional 94 shares during the period. Quent Capital LLC bought a new stake in Snap-On during the third quarter worth approximately $36,000. Finally, CoreFirst Bank & Trust acquired a new stake in shares of Snap-On during the second quarter worth $37,000. 84.88% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the stock. Roth Mkm reiterated a “buy” rating and set a $409.00 price objective (up from $385.00) on shares of Snap-On in a research report on Tuesday, February 10th. Tigress Financial increased their price objective on Snap-On from $395.00 to $405.00 and gave the stock a “buy” rating in a research note on Tuesday, October 21st. Robert W. Baird set a $375.00 target price on Snap-On in a research note on Friday, February 6th. Wall Street Zen downgraded Snap-On from a “buy” rating to a “hold” rating in a report on Saturday, February 7th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Snap-On in a report on Wednesday, January 21st. 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.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $370.67.

Snap-On Stock Down 0.8%

SNA opened at $381.59 on Wednesday. The firm’s fifty day moving average price is $361.93 and its two-hundred day moving average price is $344.50. The company has a market capitalization of $19.81 billion, a P/E ratio of 19.88, a P/E/G ratio of 2.65 and a beta of 0.81. Snap-On Incorporated has a fifty-two week low of $289.81 and a fifty-two week high of $390.13. The company has a debt-to-equity ratio of 0.20, a current ratio of 4.79 and a quick ratio of 3.68.

Snap-On (NYSE:SNA) last issued its earnings results on Thursday, February 5th. The company reported $4.94 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.86 by $0.08. The firm had revenue of $1.23 billion for 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 company’s revenue was up 2.8% compared to the same quarter last year. During the same quarter last year, the business earned $4.82 earnings per share. On average, analysts anticipate that Snap-On Incorporated will post 19.79 EPS for the current year.

Snap-On Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 10th. Investors of record on Tuesday, February 24th will be paid a $2.44 dividend. The ex-dividend date of this dividend is Tuesday, February 24th. This represents a $9.76 annualized dividend and a dividend yield of 2.6%. Snap-On’s dividend payout ratio (DPR) is currently 50.86%.

Insider Buying and Selling at Snap-On

In related news, CEO Nicholas T. Pinchuk sold 22,607 shares of the stock in a transaction on Tuesday, December 2nd. The stock was sold at an average price of $339.15, for a total value of $7,667,164.05. Following the sale, the chief executive officer owned 826,364 shares in the company, valued at approximately $280,261,350.60. This represents a 2.66% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Aldo John Pagliari sold 6,779 shares of the firm’s stock in a transaction that occurred on Thursday, December 11th. The stock was sold at an average price of $352.20, for a total transaction of $2,387,563.80. Following the transaction, the chief financial officer directly owned 111,888 shares in the company, valued at $39,406,953.60. This represents a 5.71% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 48,036 shares of company stock valued at $16,792,028 in the last 90 days. Company insiders own 3.90% 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.