Sava Infond d.o.o. Decreases Stake in Snap-On Incorporated (NYSE:SNA)

Sava Infond d.o.o. lowered its position in Snap-On Incorporated (NYSE:SNA) by 5.6% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 840 shares of the company’s stock after selling 50 shares during the quarter. Sava Infond d.o.o.’s holdings in Snap-On were worth $283,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Atria Wealth Solutions Inc. raised its holdings in Snap-On by 78.8% during the fourth quarter. Atria Wealth Solutions Inc. now owns 4,383 shares of the company’s stock worth $1,488,000 after purchasing an additional 1,931 shares in the last quarter. Wealthspire Advisors LLC acquired a new stake in Snap-On during the fourth quarter worth approximately $221,000. Leeward Investments LLC MA raised its holdings in Snap-On by 6.5% during the fourth quarter. Leeward Investments LLC MA now owns 22,058 shares of the company’s stock worth $7,488,000 after purchasing an additional 1,351 shares in the last quarter. Howard Capital Management Inc. acquired a new stake in Snap-On during the fourth quarter worth approximately $328,000. Finally, Fjarde AP Fonden Fourth Swedish National Pension Fund raised its holdings in Snap-On by 8.6% during the fourth quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 20,181 shares of the company’s stock worth $6,851,000 after purchasing an additional 1,600 shares in the last quarter. Hedge funds and other institutional investors own 84.88% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have weighed in on the stock. Robert W. Baird cut their price objective on shares of Snap-On from $349.00 to $320.00 and set a “neutral” rating on the stock in a report on Monday, April 21st. Wall Street Zen raised shares of Snap-On from a “hold” rating to a “buy” rating in a report on Friday, May 16th. Barrington Research reaffirmed an “outperform” rating and issued a $350.00 target price on shares of Snap-On in a report on Monday, May 19th. Longbow Research raised shares of Snap-On from a “neutral” rating to a “buy” rating and set a $400.00 target price on the stock in a report on Monday, March 31st. Finally, Tigress Financial lifted their target price on shares of Snap-On from $385.00 to $390.00 and gave the company a “buy” rating in a report on Tuesday, March 4th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $350.83.

Insider Activity at Snap-On

In related news, Director Karen L. Daniel sold 1,090 shares of Snap-On stock in a transaction on Thursday, June 5th. The shares were sold at an average price of $319.92, for a total value of $348,712.80. Following the transaction, the director now directly owns 8,030 shares in the company, valued at $2,568,957.60. This trade represents a 11.95% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Aldo John Pagliari sold 5,553 shares of the business’s stock in a transaction on Thursday, May 15th. The stock was sold at an average price of $326.84, for a total transaction of $1,814,942.52. Following the sale, the chief financial officer now owns 109,560 shares in the company, valued at $35,808,590.40. The trade was a 4.82% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 52,515 shares of company stock worth $17,094,296 in the last three months. Insiders own 3.90% of the company’s stock.

Snap-On Stock Performance

NYSE:SNA opened at $308.39 on Tuesday. The firm’s fifty day moving average price is $316.80 and its 200 day moving average price is $331.45. Snap-On Incorporated has a 1-year low of $252.98 and a 1-year high of $373.90. The company has a debt-to-equity ratio of 0.21, a current ratio of 4.14 and a quick ratio of 3.18. The firm has a market cap of $16.13 billion, a price-to-earnings ratio of 16.15, a price-to-earnings-growth ratio of 2.18 and a beta of 0.78.

Snap-On (NYSE:SNA) last posted its quarterly earnings data on Thursday, April 17th. The company reported $4.51 earnings per share for the quarter, missing analysts’ consensus estimates of $4.81 by ($0.30). Snap-On had a net margin of 21.42% and a return on equity of 18.60%. The firm had revenue of $1.14 billion during the quarter, compared to analysts’ expectations of $1.20 billion. During the same quarter last year, the business earned $4.91 earnings per share. On average, sell-side analysts expect that Snap-On Incorporated will post 19.79 EPS for the current year.

Snap-On Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Tuesday, May 20th were given a $2.14 dividend. The ex-dividend date of this dividend was Tuesday, May 20th. This represents a $8.56 dividend on an annualized basis and a yield of 2.78%. Snap-On’s dividend payout ratio (DPR) is 44.82%.

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.