Snap-On Incorporated $SNA Shares Purchased by Fjarde AP Fonden Fourth Swedish National Pension Fund

Fjarde AP Fonden Fourth Swedish National Pension Fund raised its stake in Snap-On Incorporated (NYSE:SNA) by 63.4% during the first quarter, HoldingsChannel.com reports. The institutional investor owned 23,940 shares of the company’s stock after buying an additional 9,290 shares during the quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings in Snap-On were worth $8,695,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. grew its position in shares of Snap-On by 0.5% during the fourth quarter. Vanguard Group Inc. now owns 6,525,488 shares of the company’s stock worth $2,248,683,000 after acquiring an additional 31,073 shares during the last quarter. State Street Corp lifted its position in Snap-On by 1.3% in the 4th quarter. State Street Corp now owns 2,272,041 shares of the company’s stock valued at $782,945,000 after purchasing an additional 28,071 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in Snap-On by 2.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,011,914 shares of the company’s stock valued at $693,306,000 after purchasing an additional 39,765 shares during the last quarter. First Trust Advisors LP boosted its stake in Snap-On by 2.7% during the 4th quarter. First Trust Advisors LP now owns 1,967,608 shares of the company’s stock valued at $678,038,000 after purchasing an additional 51,037 shares during the period. Finally, Nordea Investment Management AB boosted its stake in Snap-On by 4.1% during the 4th quarter. Nordea Investment Management AB now owns 1,310,198 shares of the company’s stock valued at $454,206,000 after purchasing an additional 51,486 shares during the period. Institutional investors and hedge funds own 84.88% of the company’s stock.

Insider Activity at Snap-On

In other Snap-On news, CFO Aldo John Pagliari sold 5,713 shares of the company’s stock in a transaction that occurred on Thursday, May 14th. The stock was sold at an average price of $367.19, for a total value of $2,097,756.47. Following the completion of the sale, the chief financial officer directly owned 119,488 shares in the company, valued at $43,874,798.72. This represents a 4.56% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Nicholas T. Pinchuk sold 23,396 shares of the stock in a transaction on Tuesday, May 5th. The shares were sold at an average price of $375.77, for a total value of $8,791,514.92. Following the transaction, the chief executive officer directly owned 856,918 shares of the company’s stock, valued at approximately $322,004,076.86. The trade was a 2.66% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 37,117 shares of company stock worth $14,003,922 over the last ninety days. Insiders own 3.80% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have commented on the stock. Roth Mkm restated a “buy” rating and issued a $431.00 price target on shares of Snap-On in a research note on Friday, April 24th. Robert W. Baird boosted their price objective on Snap-On from $380.00 to $395.00 and gave the stock a “neutral” rating in a research report on Friday, April 24th. Barclays assumed coverage on Snap-On in a report on Thursday, May 28th. They issued an “overweight” rating and a $420.00 price objective for the company. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Snap-On in a research report on Monday, April 20th. Five research 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 MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $387.67.

Snap-On Stock Performance

SNA stock opened at $412.09 on Friday. The company has a 50-day simple moving average of $380.65 and a 200 day simple moving average of $372.53. The company has a market capitalization of $21.35 billion, a P/E ratio of 21.27, a PEG ratio of 2.90 and a beta of 0.73. The company has a quick ratio of 2.74, a current ratio of 3.53 and a debt-to-equity ratio of 0.15. Snap-On Incorporated has a fifty-two week low of $310.23 and a fifty-two week high of $412.33.

Snap-On (NYSE:SNA) last released its earnings results on Thursday, April 23rd. The company reported $4.69 EPS for the quarter, missing the consensus estimate of $4.75 by ($0.06). Snap-On had a net margin of 21.28% and a return on equity of 17.13%. The company had revenue of $1.21 billion for the quarter, compared to analyst estimates of $1.19 billion. During the same period in the previous year, the business posted $4.51 EPS. The firm’s quarterly revenue was up 5.8% on a year-over-year basis. Sell-side analysts predict that Snap-On Incorporated will post 19.7 earnings per share for the current fiscal year.

Snap-On announced that its Board of Directors has authorized a stock buyback plan on Thursday, April 30th that permits the company to repurchase $500.00 million in shares. This repurchase authorization permits the company to reacquire up to 2.5% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s leadership believes its stock is undervalued.

Snap-On Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 10th. Stockholders of record on Wednesday, May 20th were issued a $2.44 dividend. The ex-dividend date was Wednesday, May 20th. This represents a $9.76 annualized dividend and a dividend yield of 2.4%. Snap-On’s dividend payout ratio (DPR) is 50.39%.

Snap-On Company Profile

Snap‑On Incorporated (NYSE: SNA) is a designer, manufacturer and marketer of tools, diagnostic equipment, repair information and shop equipment for professional users. The company’s product range includes hand and power tools, tool storage and cabinets, diagnostic scan tools and software, shop equipment such as lifts and tire changers, and specialized specialty tools for automotive, aviation, marine and industrial applications. Snap‑On also offers information and workflow solutions that combine diagnostic data, repair procedures and parts information to support professional technicians.

Founded in 1920 and headquartered in Kenosha, Wisconsin, Snap‑On has established a long history in the professional tools market.