Danske Bank A S Acquires Shares of 41,128 Snap-On Incorporated $SNA

Danske Bank A S acquired a new position in Snap-On Incorporated (NYSE:SNA) during the second quarter, Holdings Channel.com reports. The firm acquired 41,128 shares of the company’s stock, valued at approximately $16,550,000.

Several other institutional investors have also recently made changes to their positions in the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Snap-On by 15.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 8,850 shares of the company’s stock worth $2,983,000 after purchasing an additional 1,185 shares during the period. Woodline Partners LP lifted its holdings in shares of Snap-On by 40.4% in the 1st quarter. Woodline Partners LP now owns 4,426 shares of the company’s stock valued at $1,492,000 after buying an additional 1,273 shares during the period. EverSource Wealth Advisors LLC lifted its holdings in shares of Snap-On by 100.9% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 464 shares of the company’s stock valued at $144,000 after buying an additional 233 shares during the period. Gamco Investors INC. ET AL boosted its stake in shares of Snap-On by 32.9% in the second quarter. Gamco Investors INC. ET AL now owns 1,752 shares of the company’s stock worth $545,000 after buying an additional 434 shares during the last quarter. Finally, Natixis grew its holdings in Snap-On by 136.8% during the second quarter. Natixis now owns 3,048 shares of the company’s stock worth $948,000 after acquiring an additional 1,761 shares during the period. Hedge funds and other institutional investors own 84.88% of the company’s stock.

Insider Buying and Selling

In other Snap-On news, CFO Aldo John Pagliari sold 5,531 shares of the 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 $48,770,337. This trade represents a 4.38% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Timothy L. Chambers sold 9,111 shares of Snap-On stock in a transaction dated Tuesday, July 28th. The shares were sold at an average price of $419.36, for a total transaction of $3,820,788.96. Following the completion of the sale, the senior vice president owned 21,223 shares in the company, valued at approximately $8,900,077.28. This trade represents a 30.04% decrease in their position. 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 45,928 shares of company stock worth $18,483,009 in the last 90 days. 3.80% of the stock is owned by insiders.

Wall Street Analyst Weigh In

SNA has been the subject of several recent research reports. Weiss Ratings reiterated a “buy (b)” rating on shares of Snap-On in a research report on Friday, July 17th. Robert W. Baird set a $415.00 price objective on shares of Snap-On in a research note on Friday, July 24th. Tigress Financial lifted their target price on shares of Snap-On from $445.00 to $485.00 and gave the company a “buy” rating in a report on Friday, July 31st. Barclays started coverage on shares of Snap-On in a research note on Thursday, May 28th. They issued an “overweight” rating and a $420.00 target price for the company. Finally, Roth Capital restated a “buy” rating and set 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 MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $426.20.

Snap-On Stock Performance

NYSE SNA opened at $391.28 on Friday. The stock has a market capitalization of $20.24 billion, a price-to-earnings ratio of 19.95, a PEG ratio of 2.77 and a beta of 0.73. The stock has a 50-day moving average of $403.18 and a 200 day moving average of $384.50. The company has a current ratio of 3.43, a quick ratio of 2.64 and a debt-to-equity ratio of 0.15. Snap-On Incorporated has a twelve month low of $319.20 and a twelve month high of $423.02.

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

Snap-On announced that its board has approved a stock buyback program on Thursday, April 30th that permits the company to buyback $500.00 million in shares. This buyback authorization permits the company to repurchase up to 2.5% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s management believes its shares are undervalued.

Snap-On Announces Dividend

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

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.