428,132 Shares in Snap-on Incorporated (NYSE:SNA) Acquired by Norges Bank

Norges Bank purchased a new stake in shares of Snap-on Incorporated (NYSE:SNA - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 428,132 shares of the company's stock, valued at approximately $145,342,000. Norges Bank owned 0.82% of Snap-on at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in SNA. UMB Bank n.a. lifted its position in shares of Snap-on by 70.5% in the 4th quarter. UMB Bank n.a. now owns 75 shares of the company's stock worth $25,000 after acquiring an additional 31 shares during the period. SBI Securities Co. Ltd. bought a new stake in Snap-on in the 4th quarter valued at $26,000. Migdal Insurance & Financial Holdings Ltd. acquired a new position in shares of Snap-on in the 4th quarter valued at $28,000. CoreFirst Bank & Trust acquired a new stake in shares of Snap-on during the 4th quarter valued at about $40,000. Finally, TCTC Holdings LLC lifted its stake in Snap-on by 41.3% during the fourth quarter. TCTC Holdings LLC now owns 147 shares of the company's stock worth $50,000 after purchasing an additional 43 shares during the period. 84.88% of the stock is currently owned by institutional investors.

Snap-on Trading Up 0.8 %

NYSE SNA traded up $2.68 during trading hours on Wednesday, hitting $342.26. The company's stock had a trading volume of 302,372 shares, compared to its average volume of 342,055. The stock has a fifty day moving average of $339.41 and a 200 day moving average of $334.80. 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 twelve month low of $252.98 and a twelve month high of $373.90. The firm has a market capitalization of $17.94 billion, a P/E ratio of 17.55, a PEG ratio of 2.21 and a beta of 0.99.

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Snap-on (NYSE:SNA - Get Free Report) last issued its 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 company earned $4.75 EPS. Equities research analysts forecast that Snap-on Incorporated will post 19.79 earnings per share for the current fiscal year.

Snap-on Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several research firms recently commented on SNA. 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 report on Tuesday, March 4th. Longbow Research upgraded Snap-on from a "neutral" rating to a "buy" rating and set a $400.00 target price for the company in a research note on Monday. Finally, Barrington Research reaffirmed an "outperform" rating and issued a $350.00 target price on shares of Snap-on in a research note on Monday, February 10th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $355.33.

Insider Transactions at Snap-on

In related news, SVP Jesus Arregui sold 6,451 shares of the business's stock in a transaction on Monday, February 10th. The shares were sold at an average price of $337.81, for a total transaction of $2,179,212.31. Following the transaction, the senior vice president now directly owns 257 shares in the company, valued at approximately $86,817.17. The trade was a 96.17 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Aldo John Pagliari sold 6,860 shares of Snap-on stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $339.05, for a total transaction of $2,325,883.00. Following the completion of 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. Insiders sold 36,011 shares of company stock valued at $12,116,859 over the last quarter. Corporate insiders own 3.90% of the company's stock.

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.