Handelsbanken Fonder AB Has $12.94 Million Stock Position in Snap-on Incorporated (NYSE:SNA)

Handelsbanken Fonder AB lowered its holdings in shares of Snap-on Incorporated (NYSE:SNA) by 7.0% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 38,123 shares of the company’s stock after selling 2,877 shares during the period. Handelsbanken Fonder AB’s holdings in Snap-on were worth $12,942,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. UMB Bank n.a. raised its holdings in shares of Snap-on by 70.5% during the 4th quarter. UMB Bank n.a. now owns 75 shares of the company’s stock worth $25,000 after buying an additional 31 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. acquired a new position in Snap-on in the 4th quarter worth about $28,000. Reston Wealth Management LLC acquired a new position in Snap-on in the 3rd quarter worth about $30,000. Brooklyn Investment Group acquired a new position in Snap-on in the 3rd quarter worth about $39,000. Finally, Asset Planning Inc acquired a new position in Snap-on in the 4th quarter worth about $68,000. Institutional investors and hedge funds own 84.88% of the company’s stock.

Insider Buying and Selling at Snap-on

In related news, CEO Nicholas T. Pinchuk sold 21,783 shares of the company’s stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $354.83, for a total transaction of $7,729,261.89. Following the sale, the chief executive officer now owns 769,738 shares in the company, valued at $273,126,134.54. This represents a 2.75 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 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 sale, the chief financial officer now owns 107,096 shares in the company, valued at approximately $36,310,898.80. The trade was a 6.02 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 45,503 shares of company stock worth $15,906,074. Insiders own 4.10% of the company’s stock.

Snap-on Trading Down 0.8 %

NYSE SNA opened at $335.87 on Friday. The business’s 50-day moving average price is $343.79 and its two-hundred day moving average price is $323.21. Snap-on Incorporated has a 12 month low of $252.98 and a 12 month high of $373.89. The firm has a market capitalization of $17.60 billion, a PE ratio of 17.22, a price-to-earnings-growth ratio of 2.23 and a beta of 0.99. The company has a current ratio of 4.15, a quick ratio of 3.17 and a debt-to-equity ratio of 0.22.

Snap-on (NYSE:SNA) last released its quarterly earnings results on Thursday, February 6th. The company reported $4.82 EPS for the quarter, beating 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 period last year, the firm posted $4.75 EPS. On average, analysts expect that Snap-on Incorporated will post 19.79 EPS for the current year.

Snap-on Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Monday, February 24th will be given a $2.14 dividend. The ex-dividend date of this dividend is Monday, February 24th. This represents a $8.56 dividend on an annualized basis and a dividend yield of 2.55%. Snap-on’s dividend payout ratio (DPR) is presently 43.90%.

Analysts Set New Price Targets

SNA has been the subject of a number of recent research reports. Tigress Financial upped their target price on Snap-on from $336.00 to $385.00 and gave the stock a “buy” rating in a report on Friday, October 25th. Barrington Research reaffirmed an “outperform” rating and issued a $350.00 target price on shares of Snap-on in a report on Monday, February 10th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $345.40.

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.