North Dakota State Investment Board Purchases New Holdings in Snap-On Incorporated $SNA

North Dakota State Investment Board purchased a new stake in Snap-On Incorporated (NYSE:SNA) during the fourth quarter, according to its most recent disclosure with the SEC. The firm purchased 1,756 shares of the company’s stock, valued at approximately $605,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Vanguard Group Inc. lifted its stake in Snap-On by 0.5% in the 4th quarter. Vanguard Group Inc. now owns 6,525,488 shares of the company’s stock valued at $2,248,683,000 after buying an additional 31,073 shares in the last quarter. State Street Corp raised its holdings in Snap-On by 1.6% in the 3rd quarter. State Street Corp now owns 2,243,970 shares of the company’s stock valued at $777,603,000 after acquiring an additional 36,130 shares during the last quarter. First Trust Advisors LP raised its holdings in Snap-On by 1.3% in the 3rd quarter. First Trust Advisors LP now owns 1,916,571 shares of the company’s stock valued at $664,149,000 after acquiring an additional 23,863 shares during the last quarter. Nordea Investment Management AB raised its holdings in Snap-On by 4.1% in the 4th quarter. Nordea Investment Management AB now owns 1,310,198 shares of the company’s stock valued at $454,206,000 after acquiring an additional 51,486 shares during the last quarter. Finally, Bank of America Corp DE raised its holdings in Snap-On by 2.0% in the 3rd quarter. Bank of America Corp DE now owns 933,495 shares of the company’s stock valued at $323,484,000 after acquiring an additional 18,549 shares during the last quarter. 84.88% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Snap-On

In other news, VP June C. Lemerand sold 1,378 shares of the firm’s stock in a transaction that occurred on Wednesday, February 25th. The shares were sold at an average price of $387.57, for a total transaction of $534,071.46. Following the completion of the sale, the vice president owned 2,913 shares in the company, valued at $1,128,991.41. This trade represents a 32.11% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Nicholas T. Pinchuk sold 23,396 shares of Snap-On stock in a transaction that occurred on Tuesday, May 5th. The shares were sold at an average price of $375.77, for a total transaction of $8,791,514.92. Following the completion of the sale, the chief executive officer owned 856,918 shares of the company’s stock, 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 53,716 shares of company stock worth $20,328,412 in the last 90 days. Insiders own 3.80% of the company’s stock.

Snap-On Stock Down 0.2%

Shares of NYSE SNA opened at $362.44 on Friday. The company has a 50 day simple moving average of $370.79 and a 200-day simple moving average of $362.90. The company has a market capitalization of $18.77 billion, a P/E ratio of 18.71, a P/E/G ratio of 2.56 and a beta of 0.75. The company has a debt-to-equity ratio of 0.15, a current ratio of 3.53 and a quick ratio of 2.74. Snap-On Incorporated has a 1 year low of $301.82 and a 1 year high of $400.88.

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

Snap-On announced that its board has authorized a stock buyback 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 2.6% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board believes its shares are undervalued.

Snap-On Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, June 10th. Stockholders of record on Wednesday, May 20th will be issued a dividend of $2.44 per share. The ex-dividend date is Wednesday, May 20th. This represents a $9.76 dividend on an annualized basis and a dividend yield of 2.7%. Snap-On’s dividend payout ratio (DPR) is currently 50.39%.

Wall Street Analysts Forecast Growth

A number of analysts have commented on SNA shares. Weiss Ratings reiterated a “buy (b)” rating on shares of Snap-On in a report on Monday, April 20th. Tigress Financial increased their price objective on shares of Snap-On from $405.00 to $445.00 and gave the company a “buy” rating in a report on Friday, February 27th. Wall Street Zen downgraded shares of Snap-On from a “buy” rating to a “hold” rating in a report on Saturday, February 7th. Robert W. Baird increased their price objective on shares of Snap-On from $380.00 to $395.00 and gave the company a “neutral” rating in a report on Friday, April 24th. Finally, Roth Mkm reiterated a “buy” rating and issued a $431.00 price objective on shares of Snap-On in a report on Friday, April 24th. Four equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $381.20.

Snap-On 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.