Fjarde AP Fonden Fourth Swedish National Pension Fund Buys 2,800 Shares of Snap-On Incorporated $SNA

Fjarde AP Fonden Fourth Swedish National Pension Fund grew its stake in Snap-On Incorporated (NYSE:SNA) by 20.8% during the 2nd quarter, Holdings Channel.com reports. The firm owned 16,281 shares of the company’s stock after acquiring an additional 2,800 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings in Snap-On were worth $5,066,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently modified their holdings of the company. Ameritas Advisory Services LLC bought a new position in shares of Snap-On in the second quarter valued at about $30,000. Golden State Wealth Management LLC raised its position in shares of Snap-On by 421.1% in the first quarter. Golden State Wealth Management LLC now owns 99 shares of the company’s stock valued at $33,000 after purchasing an additional 80 shares during the period. Cullen Frost Bankers Inc. increased its position in Snap-On by 248.3% during the first quarter. Cullen Frost Bankers Inc. now owns 101 shares of the company’s stock worth $34,000 after acquiring an additional 72 shares during the period. Ransom Advisory Ltd bought a new position in Snap-On during the first quarter worth about $34,000. Finally, Thurston Springer Miller Herd & Titak Inc. increased its position in Snap-On by 52.8% during the second quarter. Thurston Springer Miller Herd & Titak Inc. now owns 110 shares of the company’s stock worth $34,000 after acquiring an additional 38 shares during the period. 84.88% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the stock. Tigress Financial raised their price target on shares of Snap-On from $395.00 to $405.00 and gave the stock a “buy” rating in a research report on Tuesday, October 21st. Wall Street Zen raised shares of Snap-On from a “hold” rating to a “buy” rating in a research report on Saturday, October 18th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Snap-On in a research report on Wednesday, October 8th. Roth Capital reiterated a “buy” rating and set a $385.00 target price on shares of Snap-On in a research report on Friday, October 17th. Finally, Barrington Research reiterated an “outperform” rating and set a $350.00 target price on shares of Snap-On in a research report on Wednesday, October 15th. Five analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $365.00.

Snap-On Price Performance

SNA stock opened at $338.63 on Friday. The company has a quick ratio of 3.37, a current ratio of 4.40 and a debt-to-equity ratio of 0.20. Snap-On Incorporated has a 12 month low of $289.81 and a 12 month high of $373.89. The firm has a market cap of $17.61 billion, a P/E ratio of 17.76, a P/E/G ratio of 2.33 and a beta of 0.78. The company’s 50-day moving average price is $336.00 and its two-hundred day moving average price is $325.06.

Snap-On (NYSE:SNA) last released its earnings results on Thursday, October 16th. The company reported $4.71 EPS for the quarter, beating the consensus estimate of $4.59 by $0.12. Snap-On had a net margin of 21.08% and a return on equity of 17.71%. The firm had revenue of $1.19 billion for the quarter, compared to analyst estimates of $1.16 billion. During the same period last year, the firm earned $4.70 EPS. The business’s quarterly revenue was up 3.8% compared to the same quarter last year. On average, analysts anticipate that Snap-On Incorporated will post 19.79 earnings per share for the current fiscal year.

Snap-On Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 10th. Shareholders of record on Tuesday, August 19th were issued a $2.14 dividend. This represents a $8.56 annualized dividend and a yield of 2.5%. The ex-dividend date of this dividend was Tuesday, August 19th. Snap-On’s dividend payout ratio (DPR) is currently 44.89%.

Insider Activity

In related news, CEO Nicholas T. Pinchuk sold 23,042 shares of Snap-On stock in a transaction that occurred on Monday, August 11th. The shares were sold at an average price of $320.88, for a total transaction of $7,393,716.96. Following the sale, the chief executive officer directly owned 815,219 shares of the company’s stock, valued at approximately $261,587,472.72. The trade was a 2.75% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Aldo John Pagliari sold 4,731 shares of Snap-On stock in a transaction that occurred on Thursday, August 14th. The shares were sold at an average price of $327.38, for a total transaction of $1,548,834.78. Following the sale, the chief financial officer directly owned 111,667 shares in the company, valued at $36,557,542.46. This trade represents a 4.06% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 27,898 shares of company stock worth $8,983,203. Insiders own 3.90% of the company’s stock.

Snap-On Profile

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.