Forsta AP Fonden Decreases Stock Position in Snap-on Incorporated (NYSE:SNA)

Forsta AP Fonden lessened its position in shares of Snap-on Incorporated (NYSE:SNA) by 44.1% during the fourth quarter, Holdings Channel reports. The institutional investor owned 16,500 shares of the company’s stock after selling 13,000 shares during the quarter. Forsta AP Fonden’s holdings in Snap-on were worth $5,601,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently made changes to their positions in the company. UMB Bank n.a. lifted its holdings in Snap-on by 70.5% during 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 during the last quarter. Reston Wealth Management LLC bought a new stake in shares of Snap-on in the third quarter valued at approximately $30,000. Massmutual Trust Co. FSB ADV lifted its stake in shares of Snap-on by 53.0% during the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 127 shares of the company’s stock valued at $37,000 after buying an additional 44 shares in the last quarter. Brooklyn Investment Group bought a new position in Snap-on in the 3rd quarter worth approximately $39,000. Finally, Quarry LP grew its stake in Snap-on by 244.7% in the 2nd quarter. Quarry LP now owns 162 shares of the company’s stock valued at $42,000 after buying an additional 115 shares in the last quarter. Institutional investors own 84.88% of the company’s stock.

Snap-on Trading Down 1.0 %

Shares of SNA opened at $355.10 on Friday. The company has a debt-to-equity ratio of 0.22, a current ratio of 4.18 and a quick ratio of 3.14. Snap-on Incorporated has a 1-year low of $252.98 and a 1-year high of $373.89. The company has a market capitalization of $18.65 billion, a P/E ratio of 18.28, a P/E/G ratio of 2.22 and a beta of 1.00. The firm’s 50 day simple moving average is $349.97 and its 200 day simple moving average is $316.38.

Snap-on Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Thursday, November 21st were issued a dividend of $2.14 per share. This is an increase from Snap-on’s previous quarterly dividend of $1.86. This represents a $8.56 dividend on an annualized basis and a dividend yield of 2.41%. The ex-dividend date was Thursday, November 21st. Snap-on’s payout ratio is currently 44.06%.

Insider Buying and Selling

In related news, VP June C. Lemerand sold 3,500 shares of Snap-on stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $362.86, for a total value of $1,270,010.00. Following the transaction, the vice president now owns 2,289 shares in the company, valued at $830,586.54. This trade represents a 60.46 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Aldo John Pagliari sold 6,909 shares of the company’s stock in a transaction dated Wednesday, December 18th. The shares were sold at an average price of $347.62, for a total transaction of $2,401,706.58. Following the sale, the chief financial officer now owns 100,668 shares of the company’s stock, valued at approximately $34,994,210.16. The trade was a 6.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 32,192 shares of company stock worth $11,400,978. Corporate insiders own 4.10% of the company’s stock.

Analyst Ratings Changes

SNA has been the subject of several recent research reports. Bank of America lifted their price target on Snap-on from $255.00 to $280.00 and gave the company an “underperform” rating in a research report on Friday, October 18th. Barrington Research upped their price target on Snap-on from $325.00 to $350.00 and gave the company an “outperform” rating in a research report on Thursday, October 17th. Roth Mkm raised their price objective on shares of Snap-on from $324.00 to $365.00 and gave the company a “buy” rating in a research report on Tuesday, October 22nd. Tigress Financial upped their target price on shares of Snap-on from $336.00 to $385.00 and gave the stock a “buy” rating in a report on Friday, October 25th. Finally, Robert W. Baird raised their price target on shares of Snap-on from $290.00 to $347.00 and gave the company a “neutral” rating in a report on Friday, October 18th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $345.40.

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.