Skandinaviska Enskilda Banken AB publ Has $8.19 Million Stock Holdings in Snap-on Incorporated (NYSE:SNA)

Skandinaviska Enskilda Banken AB publ cut its stake in Snap-on Incorporated (NYSE:SNA) by 74.7% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 24,057 shares of the company’s stock after selling 71,068 shares during the period. Skandinaviska Enskilda Banken AB publ’s holdings in Snap-on were worth $8,187,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in SNA. Victory Capital Management Inc. raised its holdings in Snap-on by 21.5% in the 3rd quarter. Victory Capital Management Inc. now owns 158,777 shares of the company’s stock valued at $45,999,000 after acquiring an additional 28,049 shares in the last quarter. KBC Group NV raised its holdings in Snap-on by 1.8% in the 3rd quarter. KBC Group NV now owns 15,437 shares of the company’s stock valued at $4,472,000 after acquiring an additional 271 shares in the last quarter. Zions Bancorporation N.A. raised its holdings in Snap-on by 24.8% in the 3rd quarter. Zions Bancorporation N.A. now owns 1,167 shares of the company’s stock valued at $338,000 after acquiring an additional 232 shares in the last quarter. Metis Global Partners LLC raised its holdings in shares of Snap-on by 1.9% during the 3rd quarter. Metis Global Partners LLC now owns 1,691 shares of the company’s stock worth $490,000 after buying an additional 32 shares in the last quarter. Finally, Tokio Marine Asset Management Co. Ltd. raised its holdings in shares of Snap-on by 7.9% during the 3rd quarter. Tokio Marine Asset Management Co. Ltd. now owns 1,333 shares of the company’s stock worth $386,000 after buying an additional 98 shares in the last quarter. 84.88% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Snap-on news, SVP Jesus Arregui sold 6,451 shares of the company’s stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $337.81, for a total value of $2,179,212.31. Following the sale, the senior vice president now owns 257 shares in the company, valued at approximately $86,817.17. The trade was a 96.17 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Aldo John Pagliari sold 6,860 shares of the company’s stock in a transaction dated 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 completion of the sale, the chief financial officer now owns 107,096 shares in the company, valued at $36,310,898.80. This trade represents a 6.02 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 20,220 shares of company stock worth $6,906,802 in the last 90 days. Insiders own 4.10% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently commented on SNA. Barrington Research reissued an “outperform” rating and set a $350.00 price target on shares of Snap-on in a report on Monday, February 10th. Tigress Financial boosted their price target on Snap-on from $385.00 to $390.00 and gave the stock a “buy” rating in a report on Tuesday, March 4th. One research analyst has rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $346.40.

Snap-on Trading Up 2.4 %

Shares of SNA stock opened at $331.93 on Friday. The firm has a market capitalization of $17.39 billion, a P/E ratio of 17.02, a P/E/G ratio of 2.21 and a beta of 0.99. Snap-on Incorporated has a twelve month low of $252.98 and a twelve month high of $373.90. The company has a quick ratio of 3.17, a current ratio of 4.15 and a debt-to-equity ratio of 0.22. The stock’s fifty day simple moving average is $341.51 and its 200 day simple moving average is $329.73.

Snap-on (NYSE:SNA) last issued its quarterly earnings data 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 last year, the company posted $4.75 EPS. As a group, sell-side analysts predict that Snap-on Incorporated will post 19.79 EPS for the current fiscal year.

Snap-on Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Monday, February 24th were given a dividend of $2.14 per share. The ex-dividend date was Monday, February 24th. This represents a $8.56 dividend on an annualized basis and a yield of 2.58%. Snap-on’s dividend payout ratio is currently 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.