Nordea Investment Management AB Boosts Stake in Snap-on Incorporated (NYSE:SNA)

Nordea Investment Management AB grew its position in Snap-on Incorporated (NYSE:SNA - Free Report) by 12.8% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,128,317 shares of the company's stock after buying an additional 127,859 shares during the period. Nordea Investment Management AB owned 2.15% of Snap-on worth $384,813,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Aurora Investment Counsel increased its holdings in shares of Snap-on by 0.9% during the third quarter. Aurora Investment Counsel now owns 3,549 shares of the company's stock valued at $1,028,000 after acquiring an additional 30 shares in the last quarter. Lake Street Advisors Group LLC increased its stake in Snap-on by 3.1% during the 3rd quarter. Lake Street Advisors Group LLC now owns 1,074 shares of the company's stock valued at $311,000 after purchasing an additional 32 shares in the last quarter. Metis Global Partners LLC increased its stake in Snap-on by 1.9% during the 3rd quarter. Metis Global Partners LLC now owns 1,691 shares of the company's stock valued at $490,000 after purchasing an additional 32 shares in the last quarter. Tradition Wealth Management LLC raised its holdings in shares of Snap-on by 3.1% in the third quarter. Tradition Wealth Management LLC now owns 1,154 shares of the company's stock worth $334,000 after buying an additional 35 shares during the last quarter. Finally, Verdence Capital Advisors LLC lifted its stake in shares of Snap-on by 2.5% during the third quarter. Verdence Capital Advisors LLC now owns 1,526 shares of the company's stock worth $442,000 after buying an additional 37 shares during the period. Hedge funds and other institutional investors own 84.88% of the company's stock.

Analysts Set New Price Targets

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

Insider Buying and Selling

In other news, VP June C. Lemerand sold 3,500 shares of the business's stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $362.86, for a total value of $1,270,010.00. Following the completion of the sale, the vice president now directly owns 2,289 shares of the company's stock, valued at approximately $830,586.54. The trade was a 60.46 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Iain Boyd sold 6,044 shares of Snap-on stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $298.99, for a total value of $1,807,095.56. Following the transaction, the vice president now directly owns 10,493 shares in the company, valued at approximately $3,137,302.07. This trade represents a 36.55 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 52,723 shares of company stock valued at $18,029,670. Corporate insiders own 4.10% of the company's stock.

Snap-on Price Performance

Shares of Snap-on stock traded down $1.84 during trading hours on Monday, reaching $334.23. 365,214 shares of the company's stock were exchanged, compared to its average volume of 353,171. The business has a fifty day moving average of $351.32 and a two-hundred day moving average of $305.75. The company has a quick ratio of 3.14, a current ratio of 4.18 and a debt-to-equity ratio of 0.22. The company has a market capitalization of $17.55 billion, a P/E ratio of 17.20, a price-to-earnings-growth ratio of 2.35 and a beta of 1.00. Snap-on Incorporated has a 1 year low of $252.98 and a 1 year high of $373.89.

Snap-on (NYSE:SNA - Get Free Report) last posted its quarterly earnings results on Thursday, October 17th. The company reported $4.70 earnings per share (EPS) 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 business had revenue of $1.15 billion during the quarter, compared to analyst estimates of $1.16 billion. As a group, research analysts predict that Snap-on Incorporated will post 19.05 earnings per share for the current fiscal year.

Snap-on Increases Dividend

The company 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 of this dividend was Thursday, November 21st. This represents a $8.56 dividend on an annualized basis and a yield of 2.56%. Snap-on's payout ratio is presently 44.06%.

Snap-on 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.