Handelsbanken Fonder AB Has $16.61 Million Holdings in Snap-On Incorporated $SNA

Handelsbanken Fonder AB decreased its position in shares of Snap-On Incorporated (NYSE:SNA) by 9.2% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 41,279 shares of the company’s stock after selling 4,178 shares during the quarter. Handelsbanken Fonder AB owned 0.08% of Snap-On worth $16,611,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the company. Miller Howard Investments Inc. NY acquired a new position in Snap-On in the first quarter valued at approximately $51,244,000. First Horizon Corp purchased a new position in Snap-On during the 4th quarter valued at about $4,068,000. QRG Capital Management Inc. boosted its stake in shares of Snap-On by 9.9% in the first quarter. QRG Capital Management Inc. now owns 86,849 shares of the company’s stock valued at $31,545,000 after purchasing an additional 7,798 shares during the period. Fisher Asset Management LLC boosted its position in Snap-On by 21.8% in the 4th quarter. Fisher Asset Management LLC now owns 66,017 shares of the company’s stock valued at $22,750,000 after buying an additional 11,808 shares during the period. Finally, Novem Group acquired a new stake in shares of Snap-On in the fourth quarter valued at $980,000. 84.88% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, CFO Aldo John Pagliari sold 1,330 shares of the business’s stock in a transaction that occurred on Thursday, June 4th. The stock was sold at an average price of $379.27, for a total transaction of $504,429.10. Following the completion of the sale, the chief financial officer owned 118,158 shares in the company, valued at $44,813,784.66. The trade was a 1.11% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Timothy L. Chambers sold 9,111 shares of the company’s stock in a transaction that occurred on Tuesday, July 28th. The shares were sold at an average price of $419.36, for a total value of $3,820,788.96. Following the completion of the transaction, the senior vice president directly owned 21,223 shares of the company’s stock, valued at $8,900,077.28. This trade represents a 30.04% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 17,508 shares of company stock worth $7,098,598. Insiders own 3.80% of the company’s stock.

Snap-On Price Performance

Snap-On stock opened at $407.90 on Thursday. The company has a current ratio of 3.43, a quick ratio of 2.64 and a debt-to-equity ratio of 0.15. The company has a fifty day simple moving average of $401.18 and a 200-day simple moving average of $383.23. The stock has a market cap of $21.10 billion, a P/E ratio of 20.80, a price-to-earnings-growth ratio of 2.90 and a beta of 0.73. Snap-On Incorporated has a 12-month low of $319.20 and a 12-month high of $423.02.

Snap-On (NYSE:SNA) last posted its earnings results on Thursday, July 23rd. The company reported $4.96 EPS for the quarter, beating the consensus estimate of $4.95 by $0.01. Snap-On had a return on equity of 17.07% and a net margin of 21.25%.The firm had revenue of $1.24 billion for the quarter, compared to analyst estimates of $1.22 billion. During the same quarter in the prior year, the company posted $4.72 earnings per share. Snap-On’s revenue for the quarter was up 4.7% compared to the same quarter last year. Equities analysts expect that Snap-On Incorporated will post 19.7 EPS for the current fiscal year.

Snap-On declared that its Board of Directors has initiated a stock repurchase plan on Thursday, April 30th that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the company to buy up to 2.5% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s management believes its stock is undervalued.

Snap-On Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 10th. Stockholders of record on Wednesday, August 19th will be given a dividend of $2.44 per share. This represents a $9.76 annualized dividend and a dividend yield of 2.4%. The ex-dividend date of this dividend is Wednesday, August 19th. Snap-On’s dividend payout ratio is currently 49.77%.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on SNA. Weiss Ratings reiterated a “buy (b)” rating on shares of Snap-On in a report on Friday, July 17th. Robert W. Baird set a $415.00 price target on Snap-On in a research report on Friday, July 24th. Roth Capital reiterated a “buy” rating and issued a $461.00 price objective (up from $409.00) on shares of Snap-On in a research note on Friday, July 24th. Barclays began coverage on Snap-On in a research report on Thursday, May 28th. They set an “overweight” rating and a $420.00 price objective for the company. Finally, Tigress Financial upped their target price on shares of Snap-On from $445.00 to $485.00 and gave the stock a “buy” rating in a research note on Friday, July 31st. Five research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, Snap-On currently has an average rating of “Moderate Buy” and an average target price of $426.20.

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.