Snap-On Incorporated $SNA Shares Sold by APG Asset Management N.V.

Key Points

• APG Asset Management N.V. has reduced its stake in Snap-On by 3.0%, now owning approximately 0.09% of the company, valued at $14.26 million after selling 1,400 shares.
• Snap-On recently reported a Q2 EPS of $4.72, surpassing analysts' expectations, with revenues of $1.18 billion, marking a slight increase from the previous year.
• The company also announced a quarterly dividend of $2.14, with a yield of 2.6%, to be paid on September 10th, highlighting its commitment to returning value to shareholders.

APG Asset Management N.V. reduced its stake in Snap-On Incorporated (NYSE:SNA - Free Report) by 3.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 45,700 shares of the company's stock after selling 1,400 shares during the quarter. APG Asset Management N.V. owned 0.09% of Snap-On worth $14,258,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of SNA. OneDigital Investment Advisors LLC acquired a new position in shares of Snap-On in the fourth quarter worth $233,000. Price T Rowe Associates Inc. MD grew its position in shares of Snap-On by 1.0% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 75,308 shares of the company's stock valued at $25,567,000 after purchasing an additional 770 shares during the period. MGO One Seven LLC grew its position in shares of Snap-On by 36.6% in the fourth quarter. MGO One Seven LLC now owns 1,419 shares of the company's stock valued at $482,000 after purchasing an additional 380 shares during the period. Integrated Wealth Concepts LLC grew its position in shares of Snap-On by 9.9% in the fourth quarter. Integrated Wealth Concepts LLC now owns 2,984 shares of the company's stock valued at $1,013,000 after purchasing an additional 268 shares during the period. Finally, Northern Trust Corp grew its position in shares of Snap-On by 22.4% in the fourth quarter. Northern Trust Corp now owns 798,254 shares of the company's stock valued at $270,991,000 after purchasing an additional 145,861 shares during the period. 84.88% of the stock is owned by institutional investors and hedge funds.

Snap-On Stock Down 0.6%

Shares of NYSE:SNA traded down $2.01 during trading on Friday, hitting $325.14. The company's stock had a trading volume of 172,805 shares, compared to its average volume of 373,424. The company has a debt-to-equity ratio of 0.21, a quick ratio of 3.42 and a current ratio of 4.48. Snap-On Incorporated has a fifty-two week low of $268.90 and a fifty-two week high of $373.89. The stock's 50-day moving average price is $321.92 and its two-hundred day moving average price is $323.88. The company has a market capitalization of $16.96 billion, a PE ratio of 17.34, a PEG ratio of 2.30 and a beta of 0.76.

Snap-On (NYSE:SNA - Get Free Report) last released its quarterly earnings results on Thursday, July 17th. The company reported $4.72 EPS for the quarter, topping the consensus estimate of $4.61 by $0.11. Snap-On had a return on equity of 18.02% and a net margin of 20.98%.The business had revenue of $1.18 billion for the quarter, compared to analysts' expectations of $1.16 billion. During the same quarter in the previous year, the firm posted $5.07 earnings per share. The company's revenue was up .0% compared to the same quarter last year. As a group, sell-side analysts expect that Snap-On Incorporated will post 19.79 EPS for the current year.

Snap-On Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 10th. Shareholders of record on Tuesday, August 19th will be paid a dividend of $2.14 per share. The ex-dividend date is Tuesday, August 19th. This represents a $8.56 annualized dividend and a yield of 2.6%. Snap-On's dividend payout ratio is presently 45.65%.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on SNA shares. Bank of America boosted their price target on Snap-On from $265.00 to $285.00 and gave the company an "underperform" rating in a research report on Friday, July 18th. Robert W. Baird boosted their price target on Snap-On from $329.00 to $347.00 and gave the company a "neutral" rating in a research report on Friday, July 18th. Barrington Research reissued an "outperform" rating and set a $350.00 price target on shares of Snap-On in a research report on Tuesday, July 15th. Tigress Financial boosted their price target on Snap-On from $390.00 to $395.00 and gave the company a "buy" rating in a research report on Friday. Finally, Wall Street Zen raised Snap-On from a "hold" rating to a "buy" rating in a research report on Friday, May 16th. Four investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $357.00.

Insider Buying and Selling at Snap-On

In other Snap-On news, CFO Aldo John Pagliari sold 125 shares of the company's stock in a transaction that occurred on Friday, August 15th. The stock was sold at an average price of $325.21, for a total transaction of $40,651.25. Following the sale, the chief financial officer owned 111,721 shares in the company, valued at $36,332,786.41. This represents a 0.11% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Karen L. Daniel sold 1,090 shares of the company's stock in a transaction that occurred on Thursday, June 5th. The shares were sold at an average price of $319.92, for a total value of $348,712.80. Following the sale, the director owned 8,030 shares in the company, valued at $2,568,957.60. The trade was a 11.95% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 52,160 shares of company stock worth $16,650,792 over the last quarter. 3.90% of the stock is owned by corporate insiders.

Snap-On Company 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.