Swedbank AB Raises Position in Snap-on Incorporated (NYSE:SNA)

Swedbank AB lifted its stake in shares of Snap-on Incorporated (NYSE:SNA) by 12.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 57,518 shares of the company’s stock after buying an additional 6,375 shares during the period. Swedbank AB’s holdings in Snap-on were worth $19,526,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of the stock. UMB Bank n.a. lifted its position in shares of 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 buying an additional 31 shares in the last quarter. Reston Wealth Management LLC bought a new stake in Snap-on during the third quarter worth $30,000. Massmutual Trust Co. FSB ADV lifted its holdings in Snap-on by 53.0% during the third quarter. Massmutual Trust Co. FSB ADV now owns 127 shares of the company’s stock worth $37,000 after acquiring an additional 44 shares during the period. Brooklyn Investment Group bought a new position in Snap-on in the 3rd quarter valued at $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 purchasing an additional 115 shares during the period. Institutional investors own 84.88% of the company’s stock.

Insider Transactions at Snap-on

In other Snap-on news, CEO Nicholas T. Pinchuk sold 21,783 shares of the firm’s stock in a transaction on Monday, December 9th. The shares were sold at an average price of $354.83, for a total value of $7,729,261.89. Following the completion of the transaction, the chief executive officer now directly owns 769,738 shares of the company’s stock, valued at $273,126,134.54. This trade represents a 2.75 % 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 6,909 shares of the company’s stock in a transaction on Wednesday, December 18th. The stock was sold at an average price of $347.62, for a total transaction of $2,401,706.58. Following the completion of the transaction, the chief financial officer now directly owns 100,668 shares in the company, valued at approximately $34,994,210.16. The trade was a 6.42 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 32,192 shares of company stock valued at $11,400,978 over the last three months. Company insiders own 4.10% of the company’s stock.

Snap-on Stock Performance

Shares of SNA stock opened at $355.10 on Friday. The firm’s 50 day moving average is $349.97 and its 200 day moving average is $316.38. The stock has a market capitalization of $18.65 billion, a P/E ratio of 18.28, a PEG ratio of 2.22 and a beta of 1.00. Snap-on Incorporated has a 12 month low of $252.98 and a 12 month high of $373.89. The company has a current ratio of 4.18, a quick ratio of 3.14 and a debt-to-equity ratio of 0.22.

Snap-on Increases Dividend

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

Wall Street Analysts Forecast Growth

SNA has been the topic of a number of research analyst reports. Robert W. Baird boosted their price target on shares of Snap-on from $290.00 to $347.00 and gave the stock a “neutral” rating in a report on Friday, October 18th. Tigress Financial boosted their target price on shares of Snap-on from $336.00 to $385.00 and gave the company a “buy” rating in a research note on Friday, October 25th. Barrington Research raised their price target on shares of Snap-on from $325.00 to $350.00 and gave the stock an “outperform” rating in a research note on Thursday, October 17th. Bank of America upped their price objective on Snap-on from $255.00 to $280.00 and gave the company an “underperform” rating in a research note on Friday, October 18th. Finally, Roth Mkm raised their target price on Snap-on from $324.00 to $365.00 and gave the stock a “buy” rating in a research report on Tuesday, October 22nd. One investment 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’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $345.40.

Snap-on Company Profile

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.