Snap-On Incorporated $SNA Stake Boosted by Tredje AP fonden

Tredje AP fonden grew its stake in shares of Snap-On Incorporated (NYSE:SNA) by 83.8% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 6,239 shares of the company’s stock after acquiring an additional 2,844 shares during the period. Tredje AP fonden’s holdings in Snap-On were worth $2,150,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Handelsbanken Fonder AB grew its holdings in shares of Snap-On by 39.9% during the 4th quarter. Handelsbanken Fonder AB now owns 47,681 shares of the company’s stock valued at $16,431,000 after acquiring an additional 13,593 shares in the last quarter. ProShare Advisors LLC grew its holdings in shares of Snap-On by 5.3% during the 4th quarter. ProShare Advisors LLC now owns 12,491 shares of the company’s stock valued at $4,304,000 after acquiring an additional 624 shares in the last quarter. Envestnet Portfolio Solutions Inc. grew its holdings in shares of Snap-On by 1.3% during the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 58,553 shares of the company’s stock valued at $20,177,000 after acquiring an additional 774 shares in the last quarter. North Dakota State Investment Board purchased a new position in shares of Snap-On during the 4th quarter valued at $605,000. Finally, May Hill Capital LLC bought a new stake in Snap-On in the fourth quarter worth $219,000. 84.88% of the stock is currently owned by hedge funds and other institutional investors.

Snap-On Trading Up 0.9%

Shares of NYSE:SNA opened at $363.23 on Thursday. The company has a current ratio of 3.53, a quick ratio of 2.74 and a debt-to-equity ratio of 0.15. Snap-On Incorporated has a 1 year low of $301.82 and a 1 year high of $400.88. The firm has a fifty day moving average price of $370.94 and a 200 day moving average price of $362.71. The stock has a market capitalization of $18.82 billion, a PE ratio of 18.75, a P/E/G ratio of 2.53 and a beta of 0.75.

Snap-On (NYSE:SNA) last released its quarterly earnings results on Thursday, April 23rd. The company reported $4.69 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.75 by ($0.06). Snap-On had a net margin of 21.28% and a return on equity of 17.13%. The firm had revenue of $1.21 billion for the quarter, compared to the consensus estimate of $1.19 billion. During the same quarter last year, the company earned $4.51 earnings per share. The firm’s revenue was up 5.8% on a year-over-year basis. Analysts expect that Snap-On Incorporated will post 19.7 EPS for the current fiscal year.

Snap-On announced that its board has initiated a share buyback plan on Thursday, April 30th that permits the company to buyback $500.00 million in shares. This buyback authorization permits the company to purchase up to 2.6% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s board of directors believes its shares are undervalued.

Snap-On Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, June 10th. Shareholders of record on Wednesday, May 20th will be issued a dividend of $2.44 per share. This represents a $9.76 dividend on an annualized basis and a yield of 2.7%. The ex-dividend date is Wednesday, May 20th. Snap-On’s dividend payout ratio is 50.39%.

Insider Buying and Selling at Snap-On

In other Snap-On news, CEO Nicholas T. Pinchuk sold 23,396 shares of the company’s stock in a transaction dated Tuesday, May 5th. The shares were sold at an average price of $375.77, for a total transaction of $8,791,514.92. Following the completion of the sale, the chief executive officer directly owned 856,918 shares in the company, valued at $322,004,076.86. This represents a 2.66% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Aldo John Pagliari sold 5,713 shares of the company’s stock in a transaction dated Thursday, May 14th. The shares were sold at an average price of $367.19, for a total transaction of $2,097,756.47. Following the sale, the chief financial officer owned 119,488 shares of the company’s stock, valued at $43,874,798.72. This trade represents a 4.56% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 53,716 shares of company stock worth $20,328,412 over the last ninety days. Company insiders own 3.80% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the stock. Roth Mkm reiterated a “buy” rating and issued a $431.00 price objective on shares of Snap-On in a report on Friday, April 24th. Weiss Ratings reiterated a “buy (b)” rating on shares of Snap-On in a report on Monday, April 20th. Tigress Financial upped their price objective on shares of Snap-On from $405.00 to $445.00 and gave the stock a “buy” rating in a report on Friday, February 27th. Robert W. Baird upped their price objective on shares of Snap-On from $380.00 to $395.00 and gave the stock a “neutral” rating in a report on Friday, April 24th. Finally, Wall Street Zen cut shares of Snap-On from a “buy” rating to a “hold” rating in a report on Saturday, February 7th. Four research 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, the company presently has an average rating of “Moderate Buy” and a consensus target price of $381.20.

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.