2,845 Shares in Snap-On Incorporated $SNA Acquired by Novem Group

Key Points

• Novem Group purchased a new stake of 2,845 shares in Snap‑On valued at approximately $980,000, and institutional investors now own 84.88% of the stock with major funds (State Street, First Trust, Nordea, BofA, Ameriprise) increasing positions.
• Analysts carry a consensus rating of Moderate Buy with a $373.80 consensus price target, though several firms recently raised targets (e.g., Tigress to $445, Roth to $409) amid mixed buy/hold/sell views.
• Insiders sold 39,650 shares (about $15.2M) in the past 90 days — including recent CEO and CFO sales — even as Snap‑On posted an EPS beat for the quarter ($4.94 vs. $4.86) and declared a $2.44 quarterly dividend (2.5% yield).

Novem Group purchased a new stake in Snap-On Incorporated (NYSE:SNA - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 2,845 shares of the company's stock, valued at approximately $980,000.

Several other hedge funds also recently added to or reduced their stakes in the stock. State Street Corp boosted its holdings in shares of Snap-On by 1.6% in the 3rd quarter. State Street Corp now owns 2,243,970 shares of the company's stock valued at $777,603,000 after buying an additional 36,130 shares in the last quarter. First Trust Advisors LP raised its stake in Snap-On by 1.3% during the 3rd quarter. First Trust Advisors LP now owns 1,916,571 shares of the company's stock worth $664,149,000 after acquiring an additional 23,863 shares in the last quarter. Nordea Investment Management AB lifted its position in Snap-On by 4.1% in the fourth quarter. Nordea Investment Management AB now owns 1,310,198 shares of the company's stock valued at $454,206,000 after acquiring an additional 51,486 shares during the last quarter. Bank of America Corp DE boosted its stake in Snap-On by 2.0% in the third quarter. Bank of America Corp DE now owns 933,495 shares of the company's stock valued at $323,484,000 after acquiring an additional 18,549 shares in the last quarter. Finally, Ameriprise Financial Inc. boosted its stake in Snap-On by 17.5% in the second quarter. Ameriprise Financial Inc. now owns 800,946 shares of the company's stock valued at $249,073,000 after acquiring an additional 119,089 shares in the last quarter. 84.88% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have recently commented on SNA shares. Weiss Ratings reiterated a "buy (b)" rating on shares of Snap-On in a research report on Monday. Tigress Financial upped their target price on Snap-On from $405.00 to $445.00 and gave the company a "buy" rating in a research report on Friday, February 27th. Robert W. Baird raised their price target on Snap-On from $375.00 to $380.00 and gave the stock a "neutral" rating in a research note on Tuesday. Wall Street Zen lowered Snap-On from a "buy" rating to a "hold" rating in a research report on Saturday, February 7th. Finally, Roth Mkm reiterated a "buy" rating and issued a $409.00 price objective (up from $385.00) on shares of Snap-On in a research note on Tuesday, February 10th. Four research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $373.80.

Insider Buying and Selling

In other Snap-On news, CFO Aldo John Pagliari sold 7,043 shares of the company's stock in a transaction on Thursday, February 19th. The shares were sold at an average price of $382.05, for a total transaction of $2,690,778.15. Following the completion of the transaction, the chief financial officer owned 117,183 shares in the company, valued at approximately $44,769,765.15. This represents a 5.67% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Nicholas T. Pinchuk sold 23,229 shares of the firm's stock in a transaction on Monday, February 23rd. The stock was sold at an average price of $383.36, for a total transaction of $8,905,069.44. Following the completion of the sale, the chief executive officer owned 846,562 shares of the company's stock, valued at $324,538,008.32. This trade represents a 2.67% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 39,650 shares of company stock valued at $15,210,959 in the last ninety days. Company insiders own 3.80% of the company's stock.

Snap-On Price Performance

Shares of NYSE:SNA opened at $384.16 on Wednesday. Snap-On Incorporated has a one year low of $294.92 and a one year high of $390.13. The stock has a market capitalization of $20.00 billion, a price-to-earnings ratio of 20.02, a PEG ratio of 2.67 and a beta of 0.77. The company has a 50-day simple moving average of $374.45 and a 200-day simple moving average of $358.07. The company has a debt-to-equity ratio of 0.20, a quick ratio of 3.68 and a current ratio of 4.79.

Snap-On (NYSE:SNA - Get Free Report) last released its quarterly earnings results on Thursday, February 5th. The company reported $4.94 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $4.86 by $0.08. Snap-On had a return on equity of 17.34% and a net margin of 21.44%.The firm had revenue of $1.23 billion for the quarter, compared to analyst estimates of $1.24 billion. During the same quarter last year, the company posted $4.82 earnings per share. The business's revenue was up 2.8% on a year-over-year basis. On average, analysts predict that Snap-On Incorporated will post 19.86 EPS for the current year.

Snap-On Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 10th. Stockholders of record on Tuesday, February 24th were paid a dividend of $2.44 per share. This represents a $9.76 annualized dividend and a dividend yield of 2.5%. The ex-dividend date was Tuesday, February 24th. Snap-On's dividend payout ratio is 50.86%.

About Snap-On

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.