Skandinaviska Enskilda Banken AB publ Reduces Stock Holdings in Snap-on Incorporated (NYSE:SNA)

Skandinaviska Enskilda Banken AB publ cut its holdings in shares of Snap-on Incorporated (NYSE:SNA - Free Report) by 74.7% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 24,057 shares of the company's stock after selling 71,068 shares during the period. Skandinaviska Enskilda Banken AB publ's holdings in Snap-on were worth $8,187,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the business. UMB Bank n.a. grew its holdings in Snap-on by 70.5% in the fourth quarter. UMB Bank n.a. now owns 75 shares of the company's stock worth $25,000 after purchasing an additional 31 shares during the period. SBI Securities Co. Ltd. bought a new stake in Snap-on in the 4th quarter valued at about $26,000. Migdal Insurance & Financial Holdings Ltd. acquired a new position in Snap-on during the 4th quarter worth approximately $28,000. Brooklyn Investment Group bought a new position in Snap-on in the third quarter worth approximately $39,000. Finally, Asset Planning Inc acquired a new stake in Snap-on in the fourth quarter valued at approximately $68,000. 84.88% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, SVP Jesus Arregui sold 6,451 shares of the firm's stock in a transaction on Monday, February 10th. The stock was sold at an average price of $337.81, for a total transaction of $2,179,212.31. Following the completion of the sale, the senior vice president now directly owns 257 shares of the company's stock, valued at $86,817.17. This trade represents a 96.17 % 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 Snap-on 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 owns 107,096 shares in the company, valued at $36,310,898.80. The trade was a 6.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 4.10% of the company's stock.

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Snap-on Stock Up 1.1 %

Shares of SNA stock traded up $3.72 during trading hours on Wednesday, reaching $332.98. The company had a trading volume of 343,222 shares, compared to its average volume of 320,355. The company has a market cap of $17.45 billion, a price-to-earnings ratio of 17.08, a price-to-earnings-growth ratio of 2.21 and a beta of 0.99. The company has a debt-to-equity ratio of 0.22, a current ratio of 4.15 and a quick ratio of 3.17. Snap-on Incorporated has a 12 month low of $252.98 and a 12 month high of $373.90. The business has a fifty day simple moving average of $341.27 and a 200-day simple moving average of $330.74.

Snap-on (NYSE:SNA - Get Free Report) last issued its quarterly earnings data on Thursday, February 6th. The company reported $4.82 earnings per share for the quarter, beating the consensus estimate 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 firm posted $4.75 EPS. On average, research analysts expect that Snap-on Incorporated will post 19.79 earnings per share for the current fiscal year.

Snap-on Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Monday, February 24th were paid a $2.14 dividend. The ex-dividend date was Monday, February 24th. This represents a $8.56 annualized dividend and a yield of 2.57%. Snap-on's dividend payout ratio (DPR) is 43.90%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the company. Barrington Research reaffirmed an "outperform" rating and set a $350.00 target price on shares of Snap-on in a research report on Monday, February 10th. Tigress Financial upped their price objective on shares of Snap-on from $385.00 to $390.00 and gave the stock a "buy" rating in a report on Tuesday, March 4th. One research analyst has rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus 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.