KLP Kapitalforvaltning AS Acquires New Shares in Snap-on Incorporated (NYSE:SNA)

KLP Kapitalforvaltning AS purchased a new stake in shares of Snap-on Incorporated (NYSE:SNA - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 74,804 shares of the company's stock, valued at approximately $25,394,000. KLP Kapitalforvaltning AS owned about 0.14% of Snap-on at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Sei Investments Co. increased its position in shares of Snap-on by 7.0% during the 4th quarter. Sei Investments Co. now owns 361,400 shares of the company's stock valued at $122,691,000 after purchasing an additional 23,603 shares during the last quarter. American Century Companies Inc. raised its position in Snap-on by 14.4% in the fourth quarter. American Century Companies Inc. now owns 76,348 shares of the company's stock worth $25,919,000 after acquiring an additional 9,596 shares during the period. Mizuho Securities USA LLC boosted its stake in Snap-on by 45.7% in the fourth quarter. Mizuho Securities USA LLC now owns 4,976 shares of the company's stock valued at $1,689,000 after acquiring an additional 1,560 shares during the last quarter. TD Private Client Wealth LLC grew its position in shares of Snap-on by 4.0% during the 4th quarter. TD Private Client Wealth LLC now owns 10,918 shares of the company's stock valued at $3,706,000 after acquiring an additional 421 shares during the period. Finally, Northwest & Ethical Investments L.P. grew its position in shares of Snap-on by 107.0% during the 4th quarter. Northwest & Ethical Investments L.P. now owns 4,689 shares of the company's stock valued at $1,592,000 after acquiring an additional 2,424 shares during the period. 84.88% of the stock is currently owned by institutional investors.

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Insider Transactions at Snap-on

In other news, CEO Nicholas T. Pinchuk sold 22,700 shares of the business's stock in a transaction that occurred on Thursday, March 27th. The stock was sold at an average price of $335.32, for a total value of $7,611,764.00. Following the sale, the chief executive officer now directly owns 793,932 shares of the company's stock, valued at $266,221,278.24. The trade was a 2.78 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Aldo John Pagliari sold 6,860 shares of the firm's stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $339.05, for a total value of $2,325,883.00. Following the transaction, the chief financial officer now directly owns 107,096 shares of the company's stock, valued at approximately $36,310,898.80. This trade represents a 6.02 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 36,011 shares of company stock valued at $12,116,859. Corporate insiders own 3.90% of the company's stock.

Snap-on Trading Down 0.6 %

Shares of NYSE SNA traded down $2.05 during trading hours on Thursday, hitting $335.40. The company's stock had a trading volume of 308,275 shares, compared to its average volume of 324,923. Snap-on Incorporated has a 12 month low of $252.98 and a 12 month high of $373.90. The company has a debt-to-equity ratio of 0.22, a quick ratio of 3.17 and a current ratio of 4.15. The business has a 50-day simple moving average of $340.50 and a 200-day simple moving average of $332.75. The stock has a market cap of $17.58 billion, a price-to-earnings ratio of 17.20, a P/E/G ratio of 2.21 and a beta of 0.99.

Snap-on (NYSE:SNA - Get Free Report) last announced its earnings results on Thursday, February 6th. The company reported $4.82 EPS for the quarter, beating analysts' consensus estimates of $4.78 by $0.04. Snap-on had a return on equity of 19.20% and a net margin of 21.71%. During the same quarter in the prior year, the firm earned $4.75 earnings per share. On average, analysts anticipate that Snap-on Incorporated will post 19.79 earnings per share for the current fiscal year.

Snap-on Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Monday, February 24th were issued a dividend of $2.14 per share. The ex-dividend date of this dividend was Monday, February 24th. This represents a $8.56 dividend on an annualized basis and a dividend yield of 2.55%. Snap-on's dividend payout ratio (DPR) is 43.90%.

Analyst Ratings Changes

Several equities research analysts have commented on SNA shares. Barrington Research reaffirmed an "outperform" rating and set a $350.00 price objective on shares of Snap-on in a report on Monday, February 10th. Tigress Financial raised their target price on Snap-on from $385.00 to $390.00 and gave the stock a "buy" rating in a research note on Tuesday, March 4th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $346.40.

About Snap-on

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.