BI Asset Management Fondsmaeglerselskab A S Purchases 2,765 Shares of Snap-on Incorporated (NYSE:SNA)

BI Asset Management Fondsmaeglerselskab A S lifted its stake in shares of Snap-on Incorporated (NYSE:SNA - Free Report) by 130.1% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 4,891 shares of the company's stock after buying an additional 2,765 shares during the quarter. BI Asset Management Fondsmaeglerselskab A S's holdings in Snap-on were worth $1,660,000 as of its most recent SEC filing.

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

Insider Buying and Selling at Snap-on

In related news, CFO Aldo John Pagliari sold 6,860 shares of the business's stock in a transaction that occurred on 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 owns 107,096 shares of the company's stock, valued at approximately $36,310,898.80. The trade was a 6.02 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Nicholas T. Pinchuk sold 22,700 shares of the firm's 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 transaction, 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 ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 36,011 shares of company stock valued at $12,116,859. Company insiders own 3.90% of the company's stock.

Snap-on Stock Performance

Shares of NYSE SNA traded down $2.10 during midday trading on Friday, reaching $308.64. The company's stock had a trading volume of 262,956 shares, compared to its average volume of 356,838. The company has a debt-to-equity ratio of 0.22, a current ratio of 4.15 and a quick ratio of 3.17. The stock has a market capitalization of $16.18 billion, a P/E ratio of 15.83, a PEG ratio of 2.21 and a beta of 0.84. The firm has a 50 day moving average price of $328.80 and a 200-day moving average price of $338.07. Snap-on Incorporated has a 12-month low of $252.98 and a 12-month high of $373.90.

Snap-on (NYSE:SNA - Get Free Report) last announced its quarterly earnings data on Thursday, April 17th. The company reported $4.51 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $4.81 by ($0.30). The business had revenue of $1.14 billion during the quarter, compared to the consensus estimate of $1.20 billion. Snap-on had a net margin of 21.71% and a return on equity of 19.20%. During the same quarter last year, the company earned $4.91 EPS. As a group, equities analysts predict that Snap-on Incorporated will post 19.79 earnings per share for the current year.

Snap-on Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Tuesday, May 20th will be paid a $2.14 dividend. The ex-dividend date is Tuesday, May 20th. This represents a $8.56 annualized dividend and a yield of 2.77%. Snap-on's payout ratio is 44.82%.

Analysts Set New Price Targets

A number of equities research analysts have commented on the company. Barrington Research reissued an "outperform" rating and issued a $350.00 price objective on shares of Snap-on in a research note on Thursday, April 17th. Robert W. Baird dropped their price objective on shares of Snap-on from $349.00 to $320.00 and set a "neutral" rating on the stock in a research note on Monday. Tigress Financial boosted their target price on shares of 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 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 report on Monday, March 31st. Finally, StockNews.com lowered Snap-on from a "buy" rating to a "hold" rating in a report on Friday, April 18th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the company's stock. According to MarketBeat, Snap-on currently has a consensus rating of "Hold" and a consensus price target of $350.83.

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.