Pensionfund Sabic Invests $1.21 Million in Snap-On Incorporated $SNA

Pensionfund Sabic acquired a new position in shares of Snap-On Incorporated (NYSE:SNA) in the 4th quarter, HoldingsChannel reports. The institutional investor acquired 3,500 shares of the company’s stock, valued at approximately $1,206,000.

A number of other institutional investors have also recently bought and sold shares of SNA. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of 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 in the last quarter. Woodline Partners LP grew its stake 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 in the last quarter. Swiss National Bank increased its holdings in Snap-On by 7.1% in the second quarter. Swiss National Bank now owns 158,600 shares of the company’s stock worth $49,353,000 after buying an additional 10,500 shares during the last quarter. MAI Capital Management increased its holdings in Snap-On by 29.4% in the second quarter. MAI Capital Management now owns 888 shares of the company’s stock worth $276,000 after buying an additional 202 shares during the last quarter. Finally, Mufg Securities Americas Inc. raised its position in Snap-On by 24.9% during the second quarter. Mufg Securities Americas Inc. now owns 1,158 shares of the company’s stock valued at $360,000 after acquiring an additional 231 shares in the last quarter. Institutional investors and hedge funds own 84.88% of the company’s stock.

Insider Buying and Selling at Snap-On

In other Snap-On news, CEO Nicholas T. Pinchuk sold 23,229 shares of the firm’s stock in a transaction dated Monday, February 23rd. The shares were sold at an average price of $383.36, for a total transaction of $8,905,069.44. Following the completion of the transaction, the chief executive officer owned 846,562 shares in the company, valued at $324,538,008.32. This trade represents a 2.67% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Timothy L. Chambers sold 8,000 shares of Snap-On stock in a transaction that occurred on Wednesday, February 4th. The shares were sold at an average price of $385.13, for a total value of $3,081,040.00. Following the sale, the senior vice president directly owned 19,480 shares in the company, valued at $7,502,332.40. The trade was a 29.11% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 39,650 shares of company stock worth $15,210,959. 3.80% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the stock. Weiss Ratings reiterated a “buy (b)” rating on shares of Snap-On in a research note on Wednesday, January 21st. Robert W. Baird set a $375.00 price target on shares of Snap-On in a report on Friday, February 6th. Tigress Financial boosted their price target on Snap-On from $405.00 to $445.00 and gave the stock a “buy” rating in a research report on Friday, February 27th. Roth Mkm restated a “buy” rating and issued a $409.00 price objective (up from $385.00) on shares of Snap-On in a research note on Tuesday, February 10th. Finally, Wall Street Zen cut Snap-On from a “buy” rating to a “hold” rating in a research report on Saturday, February 7th. Five investment 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. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $377.33.

Snap-On Stock Up 0.1%

SNA opened at $362.81 on Wednesday. The company has a market capitalization of $18.89 billion, a P/E ratio of 18.91, a P/E/G ratio of 2.50 and a beta of 0.78. The company has a debt-to-equity ratio of 0.20, a current ratio of 4.79 and a quick ratio of 3.68. The firm’s fifty day moving average price is $373.55 and its two-hundred day moving average price is $353.30. Snap-On Incorporated has a fifty-two week low of $289.81 and a fifty-two week high of $390.13.

Snap-On (NYSE:SNA) last announced its quarterly earnings data on Thursday, February 5th. The company reported $4.94 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.86 by $0.08. The company had revenue of $1.23 billion during the quarter, compared to analysts’ expectations of $1.24 billion. Snap-On had a net margin of 21.44% and a return on equity of 17.34%. The business’s revenue was up 2.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $4.82 EPS. On average, analysts anticipate that Snap-On Incorporated will post 19.79 EPS for the current year.

Snap-On Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 10th. Investors of record on Tuesday, February 24th were given a $2.44 dividend. This represents a $9.76 annualized dividend and a yield of 2.7%. The ex-dividend date of this dividend was Tuesday, February 24th. Snap-On’s dividend payout ratio is 50.86%.

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.