Pensionfund Sabic Has $1.28 Million Holdings in Snap-On Incorporated $SNA

Pensionfund Sabic lessened its stake in Snap-On Incorporated (NYSE:SNA) by 13.6% during the 1st quarter, Holdings Channel reports. The institutional investor owned 3,800 shares of the company’s stock after selling 600 shares during the quarter. Pensionfund Sabic’s holdings in Snap-On were worth $1,281,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. increased its stake in shares of Snap-On by 6.4% in the first quarter. Charles Schwab Investment Management Inc. now owns 1,921,584 shares of the company’s stock worth $647,593,000 after acquiring an additional 115,306 shares during the last quarter. Auto Owners Insurance Co increased its stake in shares of Snap-On by 35,967.2% in the first quarter. Auto Owners Insurance Co now owns 1,073,000 shares of the company’s stock worth $361,612,000 after acquiring an additional 1,070,025 shares during the last quarter. Northern Trust Corp increased its stake in shares of Snap-On by 5.4% in the first quarter. Northern Trust Corp now owns 841,721 shares of the company’s stock worth $283,668,000 after acquiring an additional 43,467 shares during the last quarter. Envestnet Asset Management Inc. increased its stake in shares of Snap-On by 2.0% in the first quarter. Envestnet Asset Management Inc. now owns 774,526 shares of the company’s stock worth $261,023,000 after acquiring an additional 15,097 shares during the last quarter. Finally, GAMMA Investing LLC increased its stake in shares of Snap-On by 65,113.6% in the first quarter. GAMMA Investing LLC now owns 703,003 shares of the company’s stock worth $236,919,000 after acquiring an additional 701,925 shares during the last quarter. Institutional investors and hedge funds own 84.88% of the company’s stock.

Snap-On Stock Performance

NYSE:SNA opened at $333.70 on Friday. The firm has a market capitalization of $17.41 billion, a PE ratio of 17.80, a PEG ratio of 2.31 and a beta of 0.77. The company has a current ratio of 4.48, a quick ratio of 3.42 and a debt-to-equity ratio of 0.21. Snap-On Incorporated has a 1 year low of $278.75 and a 1 year high of $373.89. The firm’s fifty day simple moving average is $324.94 and its 200 day simple moving average is $322.84.

Snap-On (NYSE:SNA) last released its earnings results on Thursday, July 17th. The company reported $4.72 earnings per share for the quarter, topping analysts’ consensus estimates of $4.61 by $0.11. The firm had revenue of $1.18 billion during the quarter, compared to analyst estimates of $1.16 billion. Snap-On had a net margin of 20.98% and a return on equity of 18.02%. The business’s revenue was up .0% on a year-over-year basis. During the same quarter in the previous year, the business earned $5.07 EPS. On average, sell-side analysts anticipate that Snap-On Incorporated will post 19.79 EPS for the current 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 given a dividend of $2.14 per share. The ex-dividend date of this dividend was Tuesday, August 19th. This represents a $8.56 dividend on an annualized basis and a yield of 2.6%. Snap-On’s payout ratio is currently 45.65%.

Insider Buying and Selling at Snap-On

In other news, CEO Nicholas T. Pinchuk sold 23,042 shares of the firm’s stock in a transaction on Monday, August 11th. The shares were sold at an average price of $320.88, for a total value of $7,393,716.96. Following the sale, the chief executive officer owned 815,219 shares in the company, valued at approximately $261,587,472.72. This trade represents a 2.75% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Aldo John Pagliari sold 125 shares of the stock in a transaction on Friday, August 15th. The shares were sold at an average price of $325.21, for a total transaction of $40,651.25. Following the completion of the sale, the chief financial officer directly owned 111,721 shares of the company’s stock, valued at approximately $36,332,786.41. This trade represents a 0.11% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 27,898 shares of company stock worth $8,983,203. 3.90% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on SNA shares. Robert W. Baird upped their price target on shares of Snap-On from $329.00 to $347.00 and gave the stock a “neutral” rating in a research note on Friday, July 18th. Barrington Research restated an “outperform” rating and set a $350.00 price target on shares of Snap-On in a research note on Tuesday, July 15th. Tigress Financial increased their price target on shares of Snap-On from $390.00 to $395.00 and gave the stock a “buy” rating in a research note on Friday, August 29th. Finally, Bank of America increased their price target on shares of Snap-On from $265.00 to $285.00 and gave the stock an “underperform” rating in a research note on Friday, July 18th. Four investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Snap-On currently has a consensus rating of “Moderate Buy” and an average price target of $357.00.

Snap-On Company 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.