Snap-On Incorporated $SNA Shares Sold by Handelsbanken Fonder AB

Handelsbanken Fonder AB decreased its position in shares of Snap-On Incorporated (NYSE:SNA) by 9.2% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 41,279 shares of the company’s stock after selling 4,178 shares during the quarter. Handelsbanken Fonder AB’s holdings in Snap-On were worth $16,611,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also made changes to their positions in the company. DV Equities LLC acquired a new stake in shares of Snap-On in the 4th quarter valued at about $25,000. Western Wealth Management LLC acquired a new position in Snap-On during the first quarter worth approximately $29,000. Montag A & Associates Inc. increased its position in Snap-On by 331.8% during the fourth quarter. Montag A & Associates Inc. now owns 95 shares of the company’s stock worth $33,000 after buying an additional 73 shares during the period. Quattro Advisors LLC purchased a new stake in Snap-On in the fourth quarter valued at approximately $35,000. Finally, Annis Gardner Whiting Capital Advisors LLC lifted its stake in Snap-On by 36.4% in the fourth quarter. Annis Gardner Whiting Capital Advisors LLC now owns 105 shares of the company’s stock valued at $36,000 after buying an additional 28 shares during the last quarter. Institutional investors and hedge funds own 84.88% of the company’s stock.

Insider Activity

In related news, CFO Aldo John Pagliari sold 1,330 shares of the firm’s stock in a transaction dated Thursday, June 4th. The shares were sold at an average price of $379.27, for a total value of $504,429.10. Following the completion of the sale, the chief financial officer owned 118,158 shares in the company, valued at $44,813,784.66. This trade represents a 1.11% 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, SVP Jesus Arregui sold 4,251 shares of Snap-On stock in a transaction that occurred on Wednesday, June 10th. The shares were sold at an average price of $383.92, for a total value of $1,632,043.92. Following the completion of the sale, the senior vice president directly owned 4,439 shares in the company, valued at $1,704,220.88. This represents a 48.92% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 17,508 shares of company stock worth $7,098,598 in the last ninety days. 3.80% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on SNA shares. Robert W. Baird set a $415.00 target price on shares of Snap-On in a research report on Friday, July 24th. Roth Capital reiterated a “buy” rating and issued a $461.00 price target (up from $409.00) on shares of Snap-On in a research report on Friday, July 24th. Weiss Ratings reiterated a “buy (b)” rating on shares of Snap-On in a research note on Friday, July 17th. Tigress Financial raised their price objective on shares of Snap-On from $445.00 to $485.00 and gave the stock a “buy” rating in a research report on Friday, July 31st. Finally, Barclays started coverage on shares of Snap-On in a research note on Thursday, May 28th. They issued an “overweight” rating and a $420.00 price objective on the stock. Five investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $426.20.

Snap-On Trading Down 0.9%

NYSE:SNA opened at $407.90 on Thursday. Snap-On Incorporated has a 12-month low of $319.20 and a 12-month high of $423.02. The company has a current ratio of 3.43, a quick ratio of 2.64 and a debt-to-equity ratio of 0.15. The stock’s 50 day simple moving average is $401.18 and its 200-day simple moving average is $383.23. The firm has a market cap of $21.10 billion, a P/E ratio of 20.80, a PEG ratio of 2.90 and a beta of 0.73.

Snap-On (NYSE:SNA) last posted its quarterly earnings data on Thursday, July 23rd. The company reported $4.96 earnings per share for the quarter, beating analysts’ consensus estimates of $4.95 by $0.01. The firm had revenue of $1.24 billion for the quarter, compared to analyst estimates of $1.22 billion. Snap-On had a net margin of 21.25% and a return on equity of 17.07%. Snap-On’s quarterly revenue was up 4.7% on a year-over-year basis. During the same period last year, the firm posted $4.72 EPS. Equities analysts anticipate that Snap-On Incorporated will post 19.7 EPS for the current year.

Snap-On announced that its board has authorized a share buyback plan on Thursday, April 30th that allows the company to repurchase $500.00 million in outstanding shares. This repurchase authorization allows the company to repurchase up to 2.5% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s board of directors believes its shares are undervalued.

Snap-On Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 10th. Stockholders of record on Wednesday, August 19th will be issued a $2.44 dividend. The ex-dividend date of this dividend is Wednesday, August 19th. This represents a $9.76 annualized dividend and a dividend yield of 2.4%. Snap-On’s payout ratio is presently 49.77%.

Snap-On 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.