Achmea Investment Management B.V. Increases Position in Snap-On Incorporated (NYSE:SNA)

Achmea Investment Management B.V. increased its stake in shares of Snap-On Incorporated (NYSE:SNA - Free Report) by 57.2% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 67,508 shares of the company's stock after purchasing an additional 24,557 shares during the quarter. Achmea Investment Management B.V. owned approximately 0.13% of Snap-On worth $22,751,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Alpine Bank Wealth Management acquired a new stake in shares of Snap-On in the 1st quarter worth $25,000. SBI Securities Co. Ltd. purchased a new stake in shares of Snap-On during the fourth quarter worth about $26,000. Golden State Wealth Management LLC raised its position in shares of Snap-On by 421.1% in the 1st quarter. Golden State Wealth Management LLC now owns 99 shares of the company's stock valued at $33,000 after purchasing an additional 80 shares during the last quarter. Opal Wealth Advisors LLC acquired a new stake in Snap-On in the 1st quarter worth approximately $35,000. Finally, CoreFirst Bank & Trust acquired a new position in Snap-On during the 4th quarter valued at approximately $40,000. Hedge funds and other institutional investors own 84.88% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on SNA. Longbow Research raised Snap-On from a "neutral" rating to a "buy" rating and set a $400.00 price objective for the company in a report on Monday, March 31st. Wall Street Zen upgraded shares of Snap-On from a "hold" rating to a "buy" rating in a research report on Friday, May 16th. Robert W. Baird lowered their target price on shares of Snap-On from $349.00 to $320.00 and set a "neutral" rating on the stock in a research note on Monday, April 21st. Tigress Financial lifted their price target on Snap-On from $385.00 to $390.00 and gave the company a "buy" rating in a research note on Tuesday, March 4th. Finally, Barrington Research reiterated an "outperform" rating and set a $350.00 price target on shares of Snap-On in a research report on Monday, May 19th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $350.83.

Snap-On Stock Up 0.8%

Shares of SNA opened at $309.68 on Friday. The company's 50-day moving average price is $315.83 and its 200 day moving average price is $330.82. Snap-On Incorporated has a 12-month low of $252.98 and a 12-month high of $373.90. The company has a current ratio of 4.14, a quick ratio of 3.18 and a debt-to-equity ratio of 0.21. The firm has a market cap of $16.19 billion, a P/E ratio of 16.21, a price-to-earnings-growth ratio of 2.19 and a beta of 0.78.

Snap-On (NYSE:SNA - Get Free Report) last posted its quarterly earnings data on Thursday, April 17th. The company reported $4.51 earnings per share (EPS) for the quarter, missing the consensus estimate 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 in the prior year, the firm posted $4.91 EPS. On average, sell-side analysts forecast that Snap-On Incorporated will post 19.79 earnings per share for the current year.

Snap-On Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Tuesday, May 20th were given a $2.14 dividend. The ex-dividend date was Tuesday, May 20th. This represents a $8.56 annualized dividend and a yield of 2.76%. Snap-On's dividend payout ratio is presently 44.82%.

Insiders Place Their Bets

In other Snap-On news, CFO Aldo John Pagliari sold 5,553 shares of the firm's stock in a transaction dated 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 transaction, the chief financial officer now owns 109,560 shares of the company's stock, valued at approximately $35,808,590.40. This trade represents a 4.82% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Karen L. Daniel sold 1,090 shares of the business's stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of $319.92, for a total value of $348,712.80. Following the completion of the sale, the director now directly owns 8,030 shares of the company's stock, valued at $2,568,957.60. The trade was a 11.95% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 29,815 shares of company stock worth $9,482,532 over the last 90 days. Corporate insiders own 3.90% of the company's stock.

About Snap-On

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.