Nykredit A S Takes Position in Snap-On Incorporated $SNA

Nykredit A S acquired a new position in shares of Snap-On Incorporated (NYSE:SNA) in the 2nd quarter, according to its most recent disclosure with the SEC. The fund acquired 27,110 shares of the company’s stock, valued at approximately $10,909,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. BlackRock Inc. acquired a new stake in Snap-On in the second quarter valued at $1,715,363,000. State Street Corp boosted its position in shares of Snap-On by 1.3% during the 4th quarter. State Street Corp now owns 2,272,041 shares of the company’s stock worth $782,945,000 after acquiring an additional 28,071 shares in the last quarter. First Trust Advisors LP boosted its position in shares of Snap-On by 3.3% during the 1st quarter. First Trust Advisors LP now owns 2,033,129 shares of the company’s stock worth $738,473,000 after acquiring an additional 65,521 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of Snap-On by 2.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,011,914 shares of the company’s stock valued at $693,306,000 after acquiring an additional 39,765 shares during the last quarter. Finally, Auto Owners Insurance Co raised its position in shares of Snap-On by 34,360.0% during the 4th quarter. Auto Owners Insurance Co now owns 1,025,185 shares of the company’s stock worth $353,279,000 after acquiring an additional 1,022,210 shares in the last quarter. Institutional investors and hedge funds own 84.88% of the company’s stock.

Wall Street Analyst Weigh In

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

Snap-On Trading Down 0.3%

NYSE:SNA opened at $382.90 on Friday. The company has a market capitalization of $19.81 billion, a PE ratio of 19.53, a P/E/G ratio of 2.69 and a beta of 0.72. Snap-On Incorporated has a 52-week low of $320.80 and a 52-week high of $423.02. The stock’s 50 day moving average price is $403.10 and its 200 day moving average price is $385.45. The company has a quick ratio of 2.64, a current ratio of 3.43 and a debt-to-equity ratio of 0.15.

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

Snap-On Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 10th. Investors of record on Wednesday, August 19th will be given a $2.44 dividend. The ex-dividend date is Wednesday, August 19th. This represents a $9.76 annualized dividend and a yield of 2.5%. Snap-On’s dividend payout ratio is 49.77%.

Insider Activity

In other Snap-On news, CFO Aldo Pagliari sold 5,531 shares of the firm’s stock in a transaction on Thursday, August 13th. The shares were sold at an average price of $404.25, for a total transaction of $2,235,906.75. Following the transaction, the chief financial officer directly owned 120,644 shares of the company’s stock, valued at approximately $48,770,337. This trade represents a 4.38% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Richard Miller sold 2,000 shares of Snap-On stock in a transaction on 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 transaction, the vice president owned 4,529 shares in the company, valued at approximately $1,838,411.68. This represents a 30.63% 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. Insiders have sold 45,398 shares of company stock worth $18,298,580 over the last 90 days. 3.80% of the stock is owned by corporate insiders.

About Snap-On

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.