Pensionfund Sabic Takes $1.21 Million Position in Snap-On Incorporated $SNA

Pensionfund Sabic acquired a new position in shares of Snap-On Incorporated (NYSE:SNA) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 3,500 shares of the company’s stock, valued at approximately $1,206,000.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in SNA. State Street Corp boosted its position in Snap-On by 1.6% during the 3rd quarter. State Street Corp now owns 2,243,970 shares of the company’s stock worth $777,603,000 after acquiring an additional 36,130 shares during the period. First Trust Advisors LP increased its holdings in shares of Snap-On by 1.3% during the third quarter. First Trust Advisors LP now owns 1,916,571 shares of the company’s stock valued at $664,149,000 after purchasing an additional 23,863 shares during the period. Nordea Investment Management AB increased its holdings in shares of Snap-On by 4.1% during the fourth quarter. Nordea Investment Management AB now owns 1,310,198 shares of the company’s stock valued at $454,206,000 after purchasing an additional 51,486 shares during the period. Bank of America Corp DE raised its stake in shares of Snap-On by 2.0% during the third quarter. Bank of America Corp DE now owns 933,495 shares of the company’s stock valued at $323,484,000 after purchasing an additional 18,549 shares in the last quarter. Finally, Ameriprise Financial Inc. raised its stake in shares of Snap-On by 17.5% during the second quarter. Ameriprise Financial Inc. now owns 800,946 shares of the company’s stock valued at $249,073,000 after purchasing an additional 119,089 shares in the last quarter. 84.88% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, CEO Nicholas T. Pinchuk sold 23,229 shares of the company’s stock in a transaction dated Monday, February 23rd. The stock was sold at an average price of $383.36, for a total value of $8,905,069.44. Following the transaction, the chief executive officer owned 846,562 shares in the company, valued at $324,538,008.32. This represents a 2.67% decrease in their position. 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 7,043 shares of the stock in a transaction that occurred on Thursday, February 19th. The stock was sold at an average price of $382.05, for a total transaction of $2,690,778.15. Following the completion of the sale, the chief financial officer directly owned 117,183 shares of the company’s stock, valued at $44,769,765.15. This trade represents a 5.67% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 39,650 shares of company stock valued at $15,210,959 in the last 90 days. Insiders own 3.80% of the company’s stock.

Snap-On Trading Up 0.1%

NYSE SNA opened at $362.81 on Wednesday. Snap-On Incorporated has a twelve month low of $289.81 and a twelve month high of $390.13. The company has a debt-to-equity ratio of 0.20, a quick ratio of 3.68 and a current ratio of 4.79. The stock has a market cap of $18.89 billion, a price-to-earnings ratio of 18.91, a PEG ratio of 2.50 and a beta of 0.78. The firm’s 50 day moving average price is $373.55 and its two-hundred day moving average price is $353.30.

Snap-On (NYSE:SNA) last released its earnings results on Thursday, February 5th. The company reported $4.94 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.86 by $0.08. The company had revenue of $1.23 billion during the quarter, compared to analyst estimates of $1.24 billion. Snap-On had a return on equity of 17.34% and a net margin of 21.44%.The company’s revenue for the quarter was up 2.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $4.82 earnings per share. Equities analysts anticipate that Snap-On Incorporated will post 19.79 EPS for the current year.

Snap-On Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 10th. Investors of record on Tuesday, February 24th were paid a $2.44 dividend. This represents a $9.76 annualized dividend and a yield of 2.7%. The ex-dividend date of this dividend was Tuesday, February 24th. Snap-On’s dividend payout ratio is currently 50.86%.

Analysts Set New Price Targets

A number of brokerages recently issued reports on SNA. Wall Street Zen lowered shares of Snap-On from a “buy” rating to a “hold” rating in a research report on Saturday, February 7th. Tigress Financial boosted their price target on shares of Snap-On from $405.00 to $445.00 and gave the stock a “buy” rating in a research report on Friday, February 27th. Robert W. Baird set a $375.00 price objective on shares of Snap-On in a report on Friday, February 6th. Roth Mkm reiterated a “buy” rating and set a $409.00 price objective (up from $385.00) on shares of Snap-On in a research note on Tuesday, February 10th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Snap-On in a report on Wednesday, January 21st. Five research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $377.33.

Snap-On Company Profile

Snap‑On Incorporated (NYSE: SNA) is a designer, manufacturer and marketer of tools, diagnostic equipment, repair information and shop equipment for professional users. The company’s product range includes hand and power tools, tool storage and cabinets, diagnostic scan tools and software, shop equipment such as lifts and tire changers, and specialized specialty tools for automotive, aviation, marine and industrial applications. Snap‑On also offers information and workflow solutions that combine diagnostic data, repair procedures and parts information to support professional technicians.

Founded in 1920 and headquartered in Kenosha, Wisconsin, Snap‑On has established a long history in the professional tools market.