DnB Asset Management AS Boosts Stake in Snap-on Incorporated (NYSE:SNA)

DnB Asset Management AS raised its stake in shares of Snap-on Incorporated (NYSE:SNA - Free Report) by 5.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,257 shares of the company's stock after buying an additional 762 shares during the quarter. DnB Asset Management AS's holdings in Snap-on were worth $4,840,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently made changes to their positions in SNA. Greenleaf Trust increased its holdings in shares of Snap-on by 3.1% in the 4th quarter. Greenleaf Trust now owns 1,013 shares of the company's stock worth $344,000 after buying an additional 30 shares during the last quarter. UMB Bank n.a. increased its holdings in Snap-on by 70.5% during the fourth quarter. UMB Bank n.a. now owns 75 shares of the company's stock valued at $25,000 after buying an additional 31 shares during the period. WCM Investment Management LLC lifted its holdings in Snap-on by 4.5% during the fourth quarter. WCM Investment Management LLC now owns 727 shares of the company's stock worth $247,000 after buying an additional 31 shares during the period. New York Life Investment Management LLC grew its stake in Snap-on by 0.4% in the fourth quarter. New York Life Investment Management LLC now owns 7,106 shares of the company's stock valued at $2,412,000 after purchasing an additional 31 shares during the last quarter. Finally, Inspire Advisors LLC raised its stake in shares of Snap-on by 1.0% during the 4th quarter. Inspire Advisors LLC now owns 3,382 shares of the company's stock worth $1,148,000 after acquiring an additional 34 shares in the last quarter. Hedge funds and other institutional investors own 84.88% of the company's stock.

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Wall Street Analysts Forecast Growth

Several research firms have weighed in on SNA. Barrington Research reiterated an "outperform" rating and set a $350.00 price target on shares of Snap-on in a research note on Monday, February 10th. Longbow Research raised Snap-on from a "neutral" rating to a "buy" rating and set a $400.00 price target for the company in a report on Monday. Finally, Tigress Financial lifted 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. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $355.33.

Snap-on Trading Up 0.8 %

NYSE:SNA traded up $2.68 on Wednesday, hitting $342.26. The stock had a trading volume of 302,372 shares, compared to its average volume of 341,822. The company has a fifty day moving average price of $339.60 and a two-hundred day moving average price of $334.75. The stock has a market cap of $17.94 billion, a price-to-earnings ratio of 17.55, a PEG ratio of 2.21 and a beta of 0.99. The company has a quick ratio of 3.17, a current ratio of 4.15 and a debt-to-equity ratio of 0.22. Snap-on Incorporated has a 1-year low of $252.98 and a 1-year high of $373.90.

Snap-on (NYSE:SNA - Get Free Report) last posted 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 net margin of 21.71% and a return on equity of 19.20%. During the same period in the previous year, the company earned $4.75 EPS. Equities research analysts expect that Snap-on Incorporated will post 19.79 earnings per share for the current fiscal year.

Snap-on Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 10th. Stockholders of record on Monday, February 24th were given a dividend of $2.14 per share. The ex-dividend date was Monday, February 24th. This represents a $8.56 annualized dividend and a dividend yield of 2.50%. Snap-on's dividend payout ratio is presently 43.90%.

Insiders Place Their Bets

In other news, CEO Nicholas T. Pinchuk sold 22,700 shares of Snap-on stock in a transaction on Thursday, March 27th. The shares were sold at an average price of $335.32, for a total transaction of $7,611,764.00. Following the completion of the sale, the chief executive officer now directly owns 793,932 shares of the company's stock, valued at approximately $266,221,278.24. The trade was a 2.78 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Aldo John Pagliari sold 6,860 shares of the company's stock in a transaction dated 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 transaction, 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 disclosure for this sale can be found here. Insiders have sold a total of 36,011 shares of company stock worth $12,116,859 in the last ninety days. 3.90% of the stock is owned by corporate 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.