Andra AP fonden Sells 17,600 Shares of Snap-on Incorporated (NYSE:SNA)

Andra AP fonden cut its holdings in Snap-on Incorporated (NYSE:SNA) by 47.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 19,400 shares of the company’s stock after selling 17,600 shares during the period. Andra AP fonden’s holdings in Snap-on were worth $6,586,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Prescott Group Capital Management L.L.C. acquired a new position in shares of Snap-on during the 4th quarter valued at about $679,000. Raymond James Financial Inc. bought a new stake in Snap-on during the fourth quarter worth approximately $148,839,000. Arizona State Retirement System grew its holdings in Snap-on by 1.3% during the fourth quarter. Arizona State Retirement System now owns 15,302 shares of the company’s stock valued at $5,195,000 after purchasing an additional 197 shares during the last quarter. Proficio Capital Partners LLC bought a new position in shares of Snap-on in the fourth quarter valued at approximately $57,738,000. Finally, Assetmark Inc. lifted its stake in shares of Snap-on by 4.0% in the fourth quarter. Assetmark Inc. now owns 136,472 shares of the company’s stock worth $46,330,000 after buying an additional 5,187 shares during the last quarter. 84.88% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. Tigress Financial raised their target price on shares of Snap-on from $385.00 to $390.00 and gave the company a “buy” rating in a research note on Tuesday, March 4th. Barrington Research reaffirmed an “outperform” rating and issued a $350.00 price target on shares of Snap-on in a research report on Monday, February 10th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $346.40.

Insider Buying and Selling

In other Snap-on 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 transaction of $2,179,212.31. Following the completion of the transaction, 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 Snap-on stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $339.05, for a total value of $2,325,883.00. Following the sale, the chief financial officer now directly owns 107,096 shares in the company, valued at $36,310,898.80. The trade was a 6.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 42,003 shares of company stock valued at $14,636,064 over the last ninety days. 4.10% of the stock is owned by company insiders.

Snap-on Price Performance

Shares of Snap-on stock opened at $342.36 on Friday. The company has a debt-to-equity ratio of 0.22, a current ratio of 4.15 and a quick ratio of 3.17. The company has a market cap of $17.94 billion, a PE ratio of 17.56, a price-to-earnings-growth ratio of 2.21 and a beta of 0.99. The firm has a fifty day moving average price of $342.21 and a two-hundred day moving average price of $327.98. Snap-on Incorporated has a fifty-two week low of $252.98 and a fifty-two week high of $373.89.

Snap-on (NYSE:SNA) last released its earnings results on Thursday, February 6th. The company reported $4.82 earnings per share for the quarter, topping analysts’ consensus estimates of $4.78 by $0.04. Snap-on had a return on equity of 19.20% and a net margin of 21.71%. During the same quarter in the prior year, the firm earned $4.75 EPS. Analysts expect that Snap-on Incorporated will post 19.79 EPS for the current year.

Snap-on Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Monday, February 24th will be paid a $2.14 dividend. The ex-dividend date is Monday, February 24th. This represents a $8.56 dividend on an annualized basis and a dividend yield of 2.50%. Snap-on’s payout ratio is 43.90%.

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.