APG Asset Management N.V. Grows Stock Position in Snap-on Incorporated (NYSE:SNA)

APG Asset Management N.V. increased its stake in shares of Snap-on Incorporated (NYSE:SNA - Free Report) by 166.1% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 47,100 shares of the company's stock after buying an additional 29,400 shares during the quarter. APG Asset Management N.V. owned about 0.09% of Snap-on worth $15,441,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in SNA. Bleakley Financial Group LLC acquired a new position in shares of Snap-on during the fourth quarter worth $512,000. Vest Financial LLC boosted its position in shares of Snap-on by 2.4% during the 4th quarter. Vest Financial LLC now owns 102,987 shares of the company's stock worth $34,962,000 after purchasing an additional 2,460 shares in the last quarter. Sanctuary Advisors LLC raised its holdings in Snap-on by 3.6% during the third quarter. Sanctuary Advisors LLC now owns 45,783 shares of the company's stock worth $13,264,000 after purchasing an additional 1,605 shares during the last quarter. World Investment Advisors LLC purchased a new position in shares of Snap-on during the 3rd quarter worth approximately $19,291,000. Finally, Avanza Fonder AB acquired a new position in Snap-on in the 4th quarter valued at about $1,936,000. 84.88% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the company. Robert W. Baird reduced their price target on Snap-on from $358.00 to $349.00 and set a "neutral" rating on the stock in a research report on Tuesday. Barrington Research restated an "outperform" rating and set a $350.00 price target on shares of Snap-on in a research report on Friday, April 11th. Tigress Financial boosted their price objective on Snap-on from $385.00 to $390.00 and gave the stock a "buy" rating in a report on Tuesday, March 4th. Finally, Longbow Research raised shares of Snap-on from a "neutral" rating to a "buy" rating and set a $400.00 price target on the stock in a research note on Monday, March 31st. One analyst has rated the stock with a sell rating, one has issued a hold rating and four have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $355.67.

Remove Ads

Insider Activity

In other news, CFO Aldo John Pagliari sold 6,860 shares of the stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $339.05, for a total value of $2,325,883.00. Following the sale, the chief financial officer now directly owns 107,096 shares of the company's stock, valued at approximately $36,310,898.80. This represents a 6.02 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Nicholas T. Pinchuk sold 22,700 shares of the firm'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 transaction of $7,611,764.00. Following the completion of the transaction, the chief executive officer now directly owns 793,932 shares in the company, valued at approximately $266,221,278.24. The trade was a 2.78 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 36,011 shares of company stock worth $12,116,859. 3.90% of the stock is currently owned by insiders.

Snap-on Price Performance

Shares of NYSE SNA traded down $2.38 during trading hours on Wednesday, hitting $334.69. 164,452 shares of the stock were exchanged, compared to its average volume of 350,596. 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 company has a market cap of $17.54 billion, a PE ratio of 17.16, a price-to-earnings-growth ratio of 2.21 and a beta of 0.84. Snap-on Incorporated has a 1-year low of $252.98 and a 1-year high of $373.90. The company's fifty day simple moving average is $333.12 and its two-hundred day simple moving average is $337.49.

Snap-on (NYSE:SNA - Get Free Report) last posted its quarterly earnings results on Thursday, February 6th. The company reported $4.82 earnings per share (EPS) for the quarter, topping 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 previous year, the business posted $4.75 EPS. On average, sell-side analysts predict that Snap-on Incorporated will post 19.79 EPS for the current year.

Snap-on Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Monday, February 24th were issued a dividend of $2.14 per share. This represents a $8.56 dividend on an annualized basis and a yield of 2.56%. The ex-dividend date of this dividend was Monday, February 24th. Snap-on's dividend payout ratio (DPR) is presently 43.90%.

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.