DnB Asset Management AS Acquires 762 Shares of Snap-on Incorporated (NYSE:SNA)

DnB Asset Management AS raised its stake in Snap-on Incorporated (NYSE:SNA) by 5.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 14,257 shares of the company’s stock after buying an additional 762 shares during the quarter. DnB Asset Management AS’s holdings in Snap-on were worth $4,840,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in SNA. UMB Bank n.a. lifted its position in Snap-on by 70.5% in the 4th quarter. UMB Bank n.a. now owns 75 shares of the company’s stock valued at $25,000 after acquiring an additional 31 shares in the last quarter. SBI Securities Co. Ltd. bought a new stake in shares of Snap-on in the fourth quarter valued at about $26,000. Migdal Insurance & Financial Holdings Ltd. acquired a new position in shares of Snap-on during the fourth quarter worth about $28,000. CoreFirst Bank & Trust bought a new position in shares of Snap-on during the fourth quarter worth about $40,000. Finally, TCTC Holdings LLC raised its position in Snap-on by 41.3% in the 4th quarter. TCTC Holdings LLC now owns 147 shares of the company’s stock valued at $50,000 after buying an additional 43 shares during the last quarter. Institutional investors and hedge funds own 84.88% of the company’s stock.

Snap-on Trading Down 1.9 %

NYSE SNA opened at $329.09 on Monday. The company has a market cap of $17.25 billion, a PE ratio of 16.88, a PEG ratio of 2.21 and a beta of 0.99. Snap-on Incorporated has a 12 month low of $252.98 and a 12 month high of $373.90. The stock has a 50 day moving average of $340.12 and a 200-day moving average of $333.92. The company has a current ratio of 4.15, a quick ratio of 3.17 and a debt-to-equity ratio of 0.22.

Snap-on (NYSE:SNA) last announced its quarterly earnings data on Thursday, February 6th. The company reported $4.82 EPS for the quarter, beating analysts’ consensus estimates of $4.78 by $0.04. Snap-on had a net margin of 21.71% and a return on equity of 19.20%. During the same period in the prior year, the firm posted $4.75 earnings per share. On average, equities research analysts anticipate that Snap-on Incorporated will post 19.79 EPS for the current fiscal year.

Snap-on Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Monday, February 24th were paid a $2.14 dividend. The ex-dividend date was Monday, February 24th. This represents a $8.56 annualized dividend and a yield of 2.60%. Snap-on’s dividend payout ratio is 43.90%.

Analysts Set New Price Targets

SNA has been the subject of several research reports. Tigress Financial raised their price target on shares of Snap-on from $385.00 to $390.00 and gave the stock a “buy” rating in a research note on Tuesday, March 4th. Barrington Research reiterated an “outperform” rating and issued a $350.00 price target on shares of Snap-on in a research note on Monday, February 10th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $346.40.

Insider Activity

In related news, CEO Nicholas T. Pinchuk sold 22,700 shares of the stock in a transaction on Thursday, March 27th. The stock was sold at an average price of $335.32, for a total value of $7,611,764.00. Following the sale, the chief executive officer now owns 793,932 shares in the company, valued at approximately $266,221,278.24. This represents a 2.78 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Jesus Arregui sold 6,451 shares of Snap-on stock in a transaction on Monday, February 10th. The stock was sold at an average price of $337.81, for a total transaction of $2,179,212.31. Following the transaction, the senior vice president now directly owns 257 shares of the company’s stock, valued at approximately $86,817.17. This trade represents a 96.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 36,011 shares of company stock valued at $12,116,859 over the last three months. Insiders own 3.90% of the company’s stock.

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.