Snap-on Incorporated (NYSE:SNA) Shares Sold by E. Ohman J or Asset Management AB

E. Ohman J or Asset Management AB reduced its stake in Snap-on Incorporated (NYSE:SNA) by 20.0% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,760 shares of the company’s stock after selling 440 shares during the period. E. Ohman J or Asset Management AB’s holdings in Snap-on were worth $510,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the stock. Renasant Bank grew its position in shares of Snap-on by 2.3% during the first quarter. Renasant Bank now owns 1,592 shares of the company’s stock worth $472,000 after acquiring an additional 36 shares during the last quarter. TFB Advisors LLC grew its position in shares of Snap-on by 3.2% during the second quarter. TFB Advisors LLC now owns 1,226 shares of the company’s stock worth $320,000 after acquiring an additional 38 shares during the last quarter. Financial Advocates Investment Management grew its position in shares of Snap-on by 1.2% during the second quarter. Financial Advocates Investment Management now owns 3,360 shares of the company’s stock worth $878,000 after acquiring an additional 39 shares during the last quarter. Ritholtz Wealth Management grew its position in shares of Snap-on by 4.0% during the second quarter. Ritholtz Wealth Management now owns 1,013 shares of the company’s stock worth $265,000 after acquiring an additional 39 shares during the last quarter. Finally, Mount Yale Investment Advisors LLC grew its position in shares of Snap-on by 2.1% during the second quarter. Mount Yale Investment Advisors LLC now owns 1,920 shares of the company’s stock worth $502,000 after acquiring an additional 39 shares during the last quarter. 84.88% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Snap-on

In other Snap-on news, VP Richard Thomas Miller sold 1,750 shares of the firm’s stock in a transaction on Friday, October 18th. The stock was sold at an average price of $330.00, for a total value of $577,500.00. Following the completion of the sale, the vice president now owns 3,218 shares of the company’s stock, valued at approximately $1,061,940. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, VP Richard Thomas Miller sold 1,750 shares of Snap-on stock in a transaction on Friday, October 18th. The stock was sold at an average price of $330.00, for a total transaction of $577,500.00. Following the completion of the transaction, the vice president now owns 3,218 shares of the company’s stock, valued at $1,061,940. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, VP Iain Boyd sold 6,044 shares of Snap-on stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $298.99, for a total value of $1,807,095.56. Following the transaction, the vice president now directly owns 10,493 shares of the company’s stock, valued at $3,137,302.07. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 37,598 shares of company stock valued at $10,461,986. 4.10% of the stock is owned by company insiders.

Analyst Ratings Changes

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

Snap-on Price Performance

Snap-on stock opened at $326.58 on Friday. Snap-on Incorporated has a one year low of $250.30 and a one year high of $330.51. The company has a debt-to-equity ratio of 0.22, a quick ratio of 3.14 and a current ratio of 4.18. The business has a fifty day moving average of $289.40 and a two-hundred day moving average of $277.80. The company has a market cap of $17.15 billion, a P/E ratio of 16.81, a price-to-earnings-growth ratio of 2.14 and a beta of 0.98.

Snap-on declared that its board has initiated a stock repurchase program on Thursday, August 8th that permits the company to buyback $500.00 million in shares. This buyback authorization permits the company to reacquire up to 3.5% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s leadership believes its stock is undervalued.

Snap-on Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Monday, August 19th were issued a $1.86 dividend. This represents a $7.44 dividend on an annualized basis and a yield of 2.28%. The ex-dividend date was Monday, August 19th. Snap-on’s dividend payout ratio (DPR) is currently 38.29%.

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.