27,110 Shares in Snap-On Incorporated $SNA Purchased by Nykredit A S

Key Points

• Nykredit A S purchased 27,110 Snap-On shares during the second quarter, valued at approximately $10.9 million. Institutional investors collectively own 84.88% of the company.
• Analyst sentiment remains positive, with five Buy ratings and one Hold rating, producing a consensus “Moderate Buy” rating and an average price target of $426.20.
• Snap-On exceeded quarterly expectations with $4.96 in earnings per share and $1.24 billion in revenue, while also declaring a $2.44 quarterly dividend, equivalent to a 2.5% yield.

Nykredit A S bought a new stake in Snap-On Incorporated (NYSE:SNA - Free Report) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 27,110 shares of the company's stock, valued at approximately $10,909,000. Nykredit A S owned about 0.05% of Snap-On at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the company. BlackRock Inc. purchased a new stake in shares of Snap-On during the 2nd quarter valued at approximately $1,715,363,000. State Street Corp grew its position in Snap-On by 1.3% in the fourth quarter. State Street Corp now owns 2,272,041 shares of the company's stock worth $782,945,000 after acquiring an additional 28,071 shares during the period. First Trust Advisors LP increased its stake in Snap-On by 3.3% during the first quarter. First Trust Advisors LP now owns 2,033,129 shares of the company's stock worth $738,473,000 after acquiring an additional 65,521 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in Snap-On by 2.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,011,914 shares of the company's stock worth $693,306,000 after acquiring an additional 39,765 shares during the last quarter. Finally, Auto Owners Insurance Co raised its position in Snap-On by 34,360.0% in the fourth quarter. Auto Owners Insurance Co now owns 1,025,185 shares of the company's stock valued at $353,279,000 after purchasing an additional 1,022,210 shares during the period. Hedge funds and other institutional investors own 84.88% of the company's stock.

Analyst Upgrades and Downgrades

SNA has been the topic of several recent analyst reports. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Snap-On in a research note on Friday, July 17th. Barclays initiated coverage on shares of Snap-On in a research note on Thursday, May 28th. They set an "overweight" rating and a $420.00 target price for the company. Robert W. Baird set a $415.00 price target on shares of Snap-On in a research note on Friday, July 24th. Roth Capital restated a "buy" rating and issued a $461.00 price objective (up from $409.00) on shares of Snap-On in a report on Friday, July 24th. Finally, Tigress Financial increased their price objective on shares of Snap-On from $445.00 to $485.00 and gave the stock a "buy" rating in a research report on Friday, July 31st. Five analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $426.20.

Insiders Place Their Bets

In related news, CFO Aldo Pagliari sold 5,531 shares of the business's stock in a transaction on Thursday, August 13th. The stock was sold at an average price of $404.25, for a total transaction of $2,235,906.75. Following the completion of the transaction, the chief financial officer directly owned 120,644 shares of the company's stock, valued at $48,770,337. The trade was a 4.38% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Richard Miller sold 2,000 shares of the company's stock in a transaction dated Wednesday, July 1st. The stock was sold at an average price of $405.92, for a total value of $811,840.00. Following the sale, the vice president owned 4,529 shares in the company, valued at approximately $1,838,411.68. This trade represents a 30.63% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 45,398 shares of company stock valued at $18,298,580. Corporate insiders own 3.80% of the company's stock.

Snap-On Stock Performance

Shares of Snap-On stock opened at $382.90 on Friday. The stock has a market capitalization of $19.81 billion, a price-to-earnings ratio of 19.53, a price-to-earnings-growth ratio of 2.69 and a beta of 0.72. The company has a debt-to-equity ratio of 0.15, a current ratio of 3.43 and a quick ratio of 2.64. The business has a 50-day moving average of $403.10 and a 200 day moving average of $385.45. Snap-On Incorporated has a 12 month low of $320.80 and a 12 month high of $423.02.

Snap-On (NYSE:SNA - Get Free Report) last issued its quarterly earnings results on Thursday, July 23rd. The company reported $4.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.95 by $0.01. Snap-On had a net margin of 21.25% and a return on equity of 17.07%. The business had revenue of $1.24 billion for the quarter, compared to analysts' expectations of $1.22 billion. During the same quarter in the prior year, the company earned $4.72 earnings per share. The business's quarterly revenue was up 4.7% on a year-over-year basis. As a group, sell-side analysts forecast that Snap-On Incorporated will post 19.7 earnings per share for the current year.

Snap-On Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 10th. Shareholders of record on Wednesday, August 19th will be given a $2.44 dividend. This represents a $9.76 annualized dividend and a yield of 2.5%. The ex-dividend date of this dividend is Wednesday, August 19th. Snap-On's dividend payout ratio (DPR) is currently 49.77%.

Snap-On 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.

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