Forsta AP Fonden Trims Stock Position in Snap-On Incorporated $SNA

Forsta AP Fonden trimmed its stake in Snap-On Incorporated (NYSE:SNA) by 35.8% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 10,200 shares of the company’s stock after selling 5,700 shares during the period. Forsta AP Fonden’s holdings in Snap-On were worth $3,174,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Ameritas Advisory Services LLC purchased a new stake in Snap-On in the second quarter worth about $30,000. Cullen Frost Bankers Inc. raised its position in shares of Snap-On by 248.3% in the 1st quarter. Cullen Frost Bankers Inc. now owns 101 shares of the company’s stock worth $34,000 after acquiring an additional 72 shares in the last quarter. Ransom Advisory Ltd bought a new position in shares of Snap-On in the 1st quarter worth approximately $34,000. Thurston Springer Miller Herd & Titak Inc. lifted its stake in shares of Snap-On by 52.8% in the 2nd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 110 shares of the company’s stock valued at $34,000 after purchasing an additional 38 shares during the period. Finally, Harbor Asset Planning Inc. bought a new stake in shares of Snap-On during the second quarter valued at approximately $45,000. Hedge funds and other institutional investors own 84.88% of the company’s stock.

Snap-On Trading Down 2.0%

Shares of NYSE SNA opened at $329.43 on Friday. The firm’s 50 day moving average price is $338.62 and its 200-day moving average price is $327.19. Snap-On Incorporated has a 52-week low of $289.81 and a 52-week high of $373.89. The company has a debt-to-equity ratio of 0.20, a quick ratio of 3.37 and a current ratio of 4.40. The company has a market cap of $17.13 billion, a PE ratio of 17.27, a P/E/G ratio of 2.33 and a beta of 0.81.

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

Snap-On Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 10th. Stockholders of record on Friday, November 21st will be issued a dividend of $2.44 per share. The ex-dividend date of this dividend is Friday, November 21st. This is an increase from Snap-On’s previous quarterly dividend of $2.14. This represents a $9.76 dividend on an annualized basis and a dividend yield of 3.0%. Snap-On’s dividend payout ratio is currently 51.18%.

Wall Street Analyst Weigh In

SNA has been the subject of a number of research reports. Weiss Ratings reiterated a “buy (b)” rating on shares of Snap-On in a report on Wednesday, October 8th. Wall Street Zen upgraded shares of Snap-On from a “hold” rating to a “buy” rating in a research note on Saturday, October 18th. Tigress Financial boosted their price objective on shares of Snap-On from $395.00 to $405.00 and gave the stock a “buy” rating in a research note on Tuesday, October 21st. Roth Capital restated a “buy” rating and issued a $385.00 price objective on shares of Snap-On in a report on Friday, October 17th. Finally, Robert W. Baird lifted their target price on shares of Snap-On from $355.00 to $365.00 and gave the company a “neutral” rating in a report on Friday, October 17th. Five investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Snap-On has a consensus rating of “Moderate Buy” and a consensus target price of $365.00.

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.