Nordea Investment Management AB Increases Holdings in Snap-On Incorporated $SNA

Nordea Investment Management AB boosted its position in shares of Snap-On Incorporated (NYSE:SNA) by 3.0% during the 3rd quarter, HoldingsChannel reports. The firm owned 1,258,712 shares of the company’s stock after buying an additional 36,964 shares during the period. Nordea Investment Management AB’s holdings in Snap-On were worth $433,601,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in the company. Tobam purchased a new position in shares of Snap-On during the second quarter valued at $29,000. Ameritas Advisory Services LLC bought a new position in Snap-On during the 2nd quarter worth about $30,000. Vermillion & White Wealth Management Group LLC increased its position in Snap-On by 97.9% during the 2nd quarter. Vermillion & White Wealth Management Group LLC now owns 95 shares of the company’s stock valued at $30,000 after purchasing an additional 47 shares during the period. Thurston Springer Miller Herd & Titak Inc. raised its holdings in shares of Snap-On by 52.8% in the 2nd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 110 shares of the company’s stock valued at $34,000 after purchasing an additional 38 shares in the last quarter. Finally, SJS Investment Consulting Inc. lifted its position in shares of Snap-On by 1,880.0% in the 3rd quarter. SJS Investment Consulting Inc. now owns 99 shares of the company’s stock worth $34,000 after purchasing an additional 94 shares during the period. 84.88% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Snap-On

In other Snap-On news, CFO Aldo John Pagliari sold 6,779 shares of the stock in a transaction dated 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 sale, the chief financial officer directly owned 111,888 shares of the company’s stock, valued at approximately $39,406,953.60. This trade represents a 5.71% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Jesus Arregui sold 3,831 shares of Snap-On stock in a transaction dated Tuesday, November 25th. The shares were sold at an average price of $337.28, for a total value of $1,292,119.68. Following the transaction, the senior vice president owned 2,642 shares of the company’s stock, valued at $891,093.76. The trade was a 59.18% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 40,036 shares of company stock valued at $13,710,988 in the last three months. Company insiders own 3.90% of the company’s stock.

Snap-On Stock Down 1.1%

Shares of SNA stock opened at $358.06 on Tuesday. The company has a debt-to-equity ratio of 0.20, a quick ratio of 3.37 and a current ratio of 4.40. Snap-On Incorporated has a fifty-two week low of $289.81 and a fifty-two week high of $366.17. The firm has a market capitalization of $18.62 billion, a PE ratio of 18.78, a P/E/G ratio of 2.54 and a beta of 0.80. The stock’s 50-day simple moving average is $345.18 and its 200-day simple moving average is $335.49.

Snap-On (NYSE:SNA) last issued its quarterly earnings results on Thursday, October 16th. The company reported $4.71 earnings per share for the quarter, topping the consensus estimate of $4.59 by $0.12. Snap-On had a net margin of 21.08% and a return on equity of 17.71%. The company had revenue of $1.19 billion for the quarter, compared to the consensus estimate of $1.16 billion. During the same quarter in the prior year, the company earned $4.70 EPS. Snap-On’s quarterly revenue was up 3.8% on a year-over-year basis. Equities analysts expect that Snap-On Incorporated will post 19.79 earnings per share for the current year.

Snap-On Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, December 10th. Investors of record on Friday, November 21st were given a dividend of $2.44 per share. This is a boost from Snap-On’s previous quarterly dividend of $2.14. This represents a $9.76 dividend on an annualized basis and a yield of 2.7%. The ex-dividend date was Friday, November 21st. Snap-On’s payout ratio is presently 51.18%.

Analyst Upgrades and Downgrades

SNA has been the topic of several research reports. Robert W. Baird lifted their price objective on shares of Snap-On from $355.00 to $365.00 and gave the company a “neutral” rating in a report on Friday, October 17th. Tigress Financial lifted their price target on Snap-On from $395.00 to $405.00 and gave the company a “buy” rating in a report on Tuesday, October 21st. Barrington Research reissued an “outperform” rating and issued a $350.00 price target on shares of Snap-On in a research report on Wednesday, October 15th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Snap-On in a research report on Wednesday, October 8th. Finally, Roth Capital reiterated a “buy” rating and issued a $385.00 target price on shares of Snap-On in a research note on Friday, October 17th. Five research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Snap-On currently has an average rating of “Moderate Buy” and a consensus price target of $365.00.

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.