41,659 Shares in Snap-On Incorporated $SNA Purchased by SEB Asset Management AB

SEB Asset Management AB purchased a new stake in shares of Snap-On Incorporated (NYSE:SNA) in the first quarter, HoldingsChannel.com reports. The institutional investor purchased 41,659 shares of the company’s stock, valued at approximately $15,131,000.

Other hedge funds have also bought and sold shares of the company. Auto Owners Insurance Co grew its holdings in Snap-On by 34,360.0% in the fourth quarter. Auto Owners Insurance Co now owns 1,025,185 shares of the company’s stock worth $353,279,000 after purchasing an additional 1,022,210 shares during the period. Norges Bank bought a new stake in shares of Snap-On in the 4th quarter worth approximately $210,814,000. PFA Pension Forsikringsaktieselskab bought a new stake in shares of Snap-On in the 4th quarter worth approximately $69,751,000. UBS Group AG grew its stake in shares of Snap-On by 30.7% in the 4th quarter. UBS Group AG now owns 617,620 shares of the company’s stock worth $212,832,000 after buying an additional 144,926 shares during the last quarter. Finally, Miller Howard Investments Inc. NY purchased a new stake in shares of Snap-On in the 1st quarter worth approximately $51,244,000. Institutional investors own 84.88% of the company’s stock.

Insider Buying and Selling at Snap-On

In other news, VP Richard Thomas Miller sold 2,000 shares of the company’s stock in a transaction dated Wednesday, July 1st. The shares were sold at an average price of $405.92, for a total transaction of $811,840.00. Following the completion of the sale, the vice president owned 4,529 shares of the company’s stock, valued at $1,838,411.68. This represents a 30.63% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Nicholas T. Pinchuk sold 23,396 shares of the stock in a transaction that occurred on Tuesday, May 5th. The stock was sold at an average price of $375.77, for a total transaction of $8,791,514.92. Following the completion of the transaction, the chief executive officer owned 856,918 shares in the company, valued at $322,004,076.86. This trade represents a 2.66% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 37,117 shares of company stock worth $14,003,922 over the last 90 days. 3.80% of the stock is owned by company insiders.

Snap-On Price Performance

NYSE SNA opened at $407.07 on Tuesday. The stock has a market capitalization of $21.09 billion, a price-to-earnings ratio of 21.02, a PEG ratio of 2.89 and a beta of 0.73. Snap-On Incorporated has a 1-year low of $312.78 and a 1-year high of $419.68. The company has a debt-to-equity ratio of 0.15, a current ratio of 3.53 and a quick ratio of 2.74. The business’s fifty day moving average price is $386.57 and its 200-day moving average price is $377.03.

Snap-On (NYSE:SNA) last posted its quarterly earnings data on Thursday, April 23rd. The company reported $4.69 EPS for the quarter, missing analysts’ consensus estimates of $4.75 by ($0.06). Snap-On had a net margin of 21.28% and a return on equity of 17.13%. The firm had revenue of $1.21 billion for the quarter, compared to analysts’ expectations of $1.19 billion. During the same quarter last year, the company posted $4.51 EPS. The firm’s revenue was up 5.8% compared to the same quarter last year. On average, equities analysts predict that Snap-On Incorporated will post 19.7 earnings per share for the current year.

Snap-On declared that its Board of Directors has authorized a stock buyback program on Thursday, April 30th that allows the company to buyback $500.00 million in outstanding shares. This buyback authorization allows the company to reacquire up to 2.5% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s board of directors believes its stock is undervalued.

Snap-On Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 10th. Shareholders of record on Wednesday, May 20th were paid a dividend of $2.44 per share. This represents a $9.76 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date was Wednesday, May 20th. Snap-On’s payout ratio is currently 50.39%.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on SNA. Robert W. Baird raised their price objective on Snap-On from $380.00 to $395.00 and gave the company a “neutral” rating in a research report on Friday, April 24th. Roth Capital reissued a “buy” rating and issued a $431.00 target price on shares of Snap-On in a research note on Friday, April 24th. Weiss Ratings restated a “buy (b)” rating on shares of Snap-On in a report on Friday. Finally, Barclays initiated coverage on Snap-On in a report on Thursday, May 28th. They set an “overweight” rating and a $420.00 price target for the company. Five analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $408.20.

Snap-On Company 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.