Fjarde AP Fonden Fourth Swedish National Pension Fund Has $5.05 Million Stock Position in Snap-On Incorporated $SNA

Fjarde AP Fonden Fourth Swedish National Pension Fund lowered its position in shares of Snap-On Incorporated (NYSE:SNA) by 22.5% in the fourth quarter, HoldingsChannel reports. The firm owned 14,650 shares of the company’s stock after selling 4,260 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings in Snap-On were worth $5,048,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in SNA. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Snap-On by 15.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 8,850 shares of the company’s stock worth $2,983,000 after purchasing an additional 1,185 shares in the last quarter. Woodline Partners LP increased its position in shares of Snap-On by 40.4% during the 1st quarter. Woodline Partners LP now owns 4,426 shares of the company’s stock worth $1,492,000 after purchasing an additional 1,273 shares in the last quarter. EverSource Wealth Advisors LLC increased its position in shares of Snap-On by 100.9% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 464 shares of the company’s stock worth $144,000 after purchasing an additional 233 shares in the last quarter. Gamco Investors INC. ET AL increased its position in shares of Snap-On by 32.9% during the 2nd quarter. Gamco Investors INC. ET AL now owns 1,752 shares of the company’s stock worth $545,000 after purchasing an additional 434 shares in the last quarter. Finally, Natixis increased its position in shares of Snap-On by 136.8% during the 2nd quarter. Natixis now owns 3,048 shares of the company’s stock worth $948,000 after purchasing an additional 1,761 shares in the last quarter. Institutional investors and hedge funds own 84.88% of the company’s stock.

Snap-On Price Performance

Shares of SNA stock opened at $380.85 on Tuesday. The stock has a 50-day moving average price of $372.97 and a 200 day moving average price of $365.89. The company has a quick ratio of 2.74, a current ratio of 3.53 and a debt-to-equity ratio of 0.15. The firm has a market cap of $19.73 billion, a price-to-earnings ratio of 19.66, a PEG ratio of 2.67 and a beta of 0.73. Snap-On Incorporated has a 12 month low of $301.82 and a 12 month high of $400.88.

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

Snap-On declared that its Board of Directors has initiated a share buyback program on Thursday, April 30th that authorizes the company to buyback $500.00 million in outstanding shares. This buyback authorization authorizes the company to buy up to 2.6% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s management believes its shares are undervalued.

Snap-On Announces Dividend

The business also recently announced 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. The ex-dividend date is Wednesday, May 20th. This represents a $9.76 dividend on an annualized basis and a yield of 2.6%. Snap-On’s dividend payout ratio (DPR) is 50.39%.

Insider Transactions at Snap-On

In other Snap-On news, CEO Nicholas T. Pinchuk sold 23,396 shares of the firm’s stock in a transaction dated Tuesday, May 5th. The stock was sold at an average price of $375.77, for a total transaction of $8,791,514.92. Following the transaction, the chief executive officer owned 856,918 shares in the company, valued at approximately $322,004,076.86. This trade represents a 2.66% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through 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 firm’s stock in a transaction dated Thursday, May 14th. The stock was sold at an average price of $367.19, for a total value of $2,097,756.47. Following the transaction, the chief financial officer owned 119,488 shares in the company, valued at approximately $43,874,798.72. This trade represents a 4.56% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 30,439 shares of company stock worth $11,393,700. Company insiders own 3.80% of the company’s stock.

Analysts Set New Price Targets

SNA has been the subject of a number of recent analyst reports. Robert W. Baird increased their target price on shares of Snap-On from $380.00 to $395.00 and gave the stock a “neutral” rating in a research report on Friday, April 24th. Barclays initiated coverage on Snap-On in a research note on Thursday, May 28th. They issued an “overweight” rating and a $420.00 target price for the company. Tigress Financial raised their target price on Snap-On from $405.00 to $445.00 and gave the company a “buy” rating in a research note on Friday, February 27th. Weiss Ratings restated a “buy (b)” rating on shares of Snap-On in a research note on Monday, April 20th. Finally, Roth Mkm restated a “buy” rating and issued a $431.00 target price on shares of Snap-On in a research note on Friday, April 24th. Five investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Snap-On currently has a consensus rating of “Moderate Buy” and a consensus target price of $387.67.

Snap-On Company 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.