Snap-on Incorporated (NYSE:SNA) Stake Raised by Pensionfund Sabic

Pensionfund Sabic raised its holdings in shares of Snap-on Incorporated (NYSE:SNA) by 12.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,400 shares of the company’s stock after acquiring an additional 500 shares during the quarter. Pensionfund Sabic’s holdings in Snap-on were worth $1,494,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in SNA. TD Asset Management Inc grew its holdings in shares of Snap-on by 4.9% during the 2nd quarter. TD Asset Management Inc now owns 20,021 shares of the company’s stock valued at $5,233,000 after acquiring an additional 936 shares in the last quarter. National Bank of Canada FI increased its position in Snap-on by 15.8% in the 2nd quarter. National Bank of Canada FI now owns 22,003 shares of the company’s stock worth $5,645,000 after purchasing an additional 3,001 shares during the last quarter. Farmers & Merchants Investments Inc. raised its stake in shares of Snap-on by 16.5% during the 2nd quarter. Farmers & Merchants Investments Inc. now owns 566 shares of the company’s stock worth $148,000 after purchasing an additional 80 shares in the last quarter. Candriam S.C.A. lifted its holdings in shares of Snap-on by 6.3% during the 2nd quarter. Candriam S.C.A. now owns 6,201 shares of the company’s stock valued at $1,621,000 after buying an additional 367 shares during the last quarter. Finally, Illinois Municipal Retirement Fund grew its stake in shares of Snap-on by 1.5% in the 2nd quarter. Illinois Municipal Retirement Fund now owns 42,414 shares of the company’s stock valued at $11,087,000 after buying an additional 625 shares in the last quarter. 84.88% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have commented on SNA shares. Bank of America boosted their target price on shares of Snap-on from $255.00 to $280.00 and gave the stock an “underperform” rating in a research report on Friday, October 18th. Tigress Financial raised their price objective on Snap-on from $336.00 to $385.00 and gave the stock a “buy” rating in a research report on Friday, October 25th. Roth Mkm lifted their price target on shares of Snap-on from $324.00 to $365.00 and gave the stock a “buy” rating in a research note on Tuesday, October 22nd. Robert W. Baird increased their price objective on shares of Snap-on from $290.00 to $347.00 and gave the company a “neutral” rating in a research note on Friday, October 18th. Finally, Barrington Research upped their target price on shares of Snap-on from $325.00 to $350.00 and gave the company an “outperform” rating in a research note on Thursday, October 17th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, Snap-on currently has an average rating of “Hold” and an average price target of $345.40.

Snap-on Price Performance

Shares of Snap-on stock traded down $0.15 during mid-day trading on Monday, reaching $335.92. 31,935 shares of the stock were exchanged, compared to its average volume of 233,542. The company has a current ratio of 4.18, a quick ratio of 3.14 and a debt-to-equity ratio of 0.22. The company has a market cap of $17.64 billion, a price-to-earnings ratio of 17.29, a price-to-earnings-growth ratio of 2.35 and a beta of 1.00. Snap-on Incorporated has a fifty-two week low of $252.98 and a fifty-two week high of $373.89. The firm has a 50-day simple moving average of $351.29 and a 200 day simple moving average of $305.29.

Snap-on (NYSE:SNA) last announced its earnings results on Thursday, October 17th. The company reported $4.70 EPS for the quarter, topping the consensus estimate of $4.58 by $0.12. Snap-on had a return on equity of 19.44% and a net margin of 22.13%. The business had revenue of $1.15 billion for the quarter, compared to the consensus estimate of $1.16 billion. On average, sell-side analysts predict that Snap-on Incorporated will post 19.05 EPS for the current fiscal year.

Snap-on Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Investors of record on Thursday, November 21st were given a dividend of $2.14 per share. This is an increase from Snap-on’s previous quarterly dividend of $1.86. The ex-dividend date was Thursday, November 21st. This represents a $8.56 annualized dividend and a yield of 2.55%. Snap-on’s dividend payout ratio is 44.06%.

Insider Buying and Selling at Snap-on

In related news, CEO Nicholas T. Pinchuk sold 21,783 shares of the business’s stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $354.83, for a total value of $7,729,261.89. Following the completion of the transaction, the chief executive officer now owns 769,738 shares in the company, valued at $273,126,134.54. The trade was a 2.75 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Aldo John Pagliari sold 6,909 shares of the stock in a transaction on Wednesday, December 18th. The shares were sold at an average price of $347.62, for a total value of $2,401,706.58. Following the completion of the transaction, the chief financial officer now owns 100,668 shares in the company, valued at $34,994,210.16. The trade was a 6.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 52,723 shares of company stock worth $18,029,670. 4.10% of the stock is currently owned by corporate insiders.

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.