Tredje AP fonden trimmed its stake in Snap-on Incorporated (NYSE:SNA - Free Report) by 50.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,124 shares of the company's stock after selling 4,124 shares during the period. Tredje AP fonden's holdings in Snap-on were worth $1,400,000 at the end of the most recent quarter.
Other hedge funds have also recently modified their holdings of the company. UMB Bank n.a. grew its position in Snap-on by 70.5% during the 4th 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 last quarter. SBI Securities Co. Ltd. purchased a new position in Snap-on during the 4th quarter worth $26,000. Migdal Insurance & Financial Holdings Ltd. purchased a new position in Snap-on during the 4th quarter worth $28,000. Brooklyn Investment Group purchased a new position in Snap-on during the 3rd quarter worth $39,000. Finally, Private Trust Co. NA grew its position in Snap-on by 38.2% during the 3rd quarter. Private Trust Co. NA now owns 217 shares of the company's stock worth $63,000 after purchasing an additional 60 shares during the last quarter. 84.88% of the stock is owned by hedge funds and other institutional investors.
Snap-on Stock Performance
Shares of NYSE:SNA traded up $3.72 during midday trading on Wednesday, hitting $332.98. The stock had a trading volume of 343,222 shares, compared to its average volume of 320,355. The company has a market capitalization of $17.45 billion, a PE ratio of 17.08, a P/E/G ratio of 2.21 and a beta of 0.99. The stock has a 50 day moving average price of $341.27 and a two-hundred day moving average price of $330.74. The company has a current ratio of 4.15, a quick ratio of 3.17 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 announced its quarterly earnings data on Thursday, February 6th. The company reported $4.82 EPS for the quarter, beating the consensus estimate 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 business earned $4.75 earnings per share. As a group, equities analysts predict that Snap-on Incorporated will post 19.79 earnings per share for the current fiscal year.
Snap-on Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Monday, February 24th were paid a $2.14 dividend. This represents a $8.56 annualized dividend and a dividend yield of 2.57%. The ex-dividend date of this dividend was Monday, February 24th. Snap-on's dividend payout ratio (DPR) is 43.90%.
Analysts Set New Price Targets
Several brokerages have issued reports on SNA. Barrington Research reissued an "outperform" rating and set a $350.00 price objective on shares of Snap-on in a research report on Monday, February 10th. Tigress Financial raised their price objective 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. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $346.40.
Read Our Latest Research Report on SNA
Insider Activity at Snap-on
In related news, SVP Jesus Arregui sold 6,451 shares of the firm's stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $337.81, for a total value of $2,179,212.31. Following the completion of the sale, the senior vice president now owns 257 shares in the company, valued at $86,817.17. This trade represents a 96.17 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Aldo John Pagliari sold 6,860 shares of the firm's 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 sale, the chief financial officer now owns 107,096 shares of the company's stock, valued at $36,310,898.80. This trade represents a 6.02 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 4.10% of the company's stock.
Snap-on Company Profile
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Free Report)
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.
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