Avanza Fonder AB Invests $1.94 Million in Snap-on Incorporated (NYSE:SNA)

Avanza Fonder AB purchased a new position in Snap-on Incorporated (NYSE:SNA - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 5,704 shares of the company's stock, valued at approximately $1,936,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Reston Wealth Management LLC purchased a new position in Snap-on in the 3rd quarter worth approximately $30,000. Massmutual Trust Co. FSB ADV lifted its holdings in shares of Snap-on by 53.0% during the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 127 shares of the company's stock worth $37,000 after acquiring an additional 44 shares during the last quarter. Brooklyn Investment Group purchased a new position in Snap-on in the third quarter worth $39,000. Quarry LP increased its stake in Snap-on by 244.7% in the second quarter. Quarry LP now owns 162 shares of the company's stock valued at $42,000 after acquiring an additional 115 shares during the last quarter. Finally, nVerses Capital LLC bought a new position in Snap-on in the third quarter valued at $58,000. Hedge funds and other institutional investors own 84.88% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have commented on SNA. Barrington Research increased their price target on shares of Snap-on from $325.00 to $350.00 and gave the company an "outperform" rating in a research report on Thursday, October 17th. Roth Mkm lifted their target price on shares of Snap-on from $324.00 to $365.00 and gave the stock a "buy" rating in a research report on Tuesday, October 22nd. Robert W. Baird boosted their price target on shares of Snap-on from $290.00 to $347.00 and gave the stock a "neutral" rating in a research note on Friday, October 18th. Bank of America raised their price objective on Snap-on from $255.00 to $280.00 and gave the company an "underperform" rating in a research note on Friday, October 18th. Finally, Tigress Financial boosted their target price on Snap-on from $336.00 to $385.00 and gave the company a "buy" rating in a research note on Friday, October 25th. One analyst has rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $345.40.

Snap-on Stock Up 0.7 %

SNA stock traded up $2.57 during midday trading on Friday, hitting $348.17. The stock had a trading volume of 1,131,704 shares, compared to its average volume of 340,211. The company has a debt-to-equity ratio of 0.22, a current ratio of 4.18 and a quick ratio of 3.14. The business has a 50-day moving average of $351.33 and a two-hundred day moving average of $310.75. The firm has a market cap of $18.28 billion, a price-to-earnings ratio of 17.92, a price-to-earnings-growth ratio of 2.09 and a beta of 1.00. Snap-on Incorporated has a 52-week low of $252.98 and a 52-week high of $373.89.

Snap-on (NYSE:SNA - Get Free Report) last posted its quarterly earnings data on Thursday, October 17th. The company reported $4.70 earnings per share for the quarter, beating analysts' consensus estimates of $4.58 by $0.12. Snap-on had a return on equity of 19.44% and a net margin of 22.13%. The company had revenue of $1.15 billion during the quarter, compared to analyst estimates of $1.16 billion. As a group, equities research analysts forecast that Snap-on Incorporated will post 19.05 earnings per share for the current fiscal year.

Snap-on Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Thursday, November 21st were given a $2.14 dividend. This is a positive change from Snap-on's previous quarterly dividend of $1.86. The ex-dividend date was Thursday, November 21st. This represents a $8.56 dividend on an annualized basis and a yield of 2.46%. Snap-on's payout ratio is 44.06%.

Insider Transactions at Snap-on

In other Snap-on news, CFO Aldo John Pagliari sold 6,909 shares of the business's stock in a transaction dated Wednesday, December 18th. The stock was sold at an average price of $347.62, for a total transaction of $2,401,706.58. Following the completion of the sale, the chief financial officer now directly owns 100,668 shares in the company, valued at $34,994,210.16. The trade was a 6.42 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Nicholas T. Pinchuk sold 21,783 shares of the stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $354.83, for a total transaction of $7,729,261.89. Following the completion of the transaction, the chief executive officer now owns 769,738 shares in the company, valued at $273,126,134.54. This trade represents a 2.75 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 44,929 shares of company stock worth $15,645,074 over the last three months. 4.10% of the stock is currently owned by company insiders.

Snap-on Company Profile

Snap-on Incorporated manufactures and markets tools, equipment, diagnostics, and repair information and systems solutions for professional users worldwide. It operates through Commercial & Industrial Group, Snap-on Tools Group, Repair Systems & Information Group, and Financial Services segments.