Snap-On Incorporated $SNA Shares Bought by BI Asset Management Fondsmaeglerselskab A S

Key Points

• BI Asset Management Fondsmaeglerselskab A S increased its stake in Snap-On by 407.9% in Q1, owning 24,842 shares worth approximately $8.37 million.
• Insider sales included CEO Nicholas T. Pinchuk selling 23,042 shares for over $7.39 million, resulting in a 2.75% decrease in their ownership.
• Snap-On recently announced a quarterly dividend of $2.14 per share, with a payout ratio of 45.65% and an annualized yield of 2.6%.

BI Asset Management Fondsmaeglerselskab A S boosted its stake in Snap-On Incorporated (NYSE:SNA - Free Report) by 407.9% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 24,842 shares of the company's stock after acquiring an additional 19,951 shares during the period. BI Asset Management Fondsmaeglerselskab A S's holdings in Snap-On were worth $8,372,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the company. Forvis Mazars Wealth Advisors LLC boosted its position in shares of Snap-On by 0.7% during the 1st quarter. Forvis Mazars Wealth Advisors LLC now owns 4,607 shares of the company's stock worth $1,553,000 after purchasing an additional 32 shares in the last quarter. Horizon Investments LLC lifted its stake in shares of Snap-On by 4.3% in the first quarter. Horizon Investments LLC now owns 775 shares of the company's stock valued at $261,000 after purchasing an additional 32 shares during the period. TrinityPoint Wealth LLC boosted its holdings in Snap-On by 0.8% during the fourth quarter. TrinityPoint Wealth LLC now owns 4,164 shares of the company's stock worth $1,414,000 after buying an additional 33 shares in the last quarter. Cary Street Partners Investment Advisory LLC boosted its stake in shares of Snap-On by 5.2% during the 1st quarter. Cary Street Partners Investment Advisory LLC now owns 694 shares of the company's stock worth $234,000 after acquiring an additional 34 shares in the last quarter. Finally, Canandaigua National Trust Co of Florida grew its holdings in Snap-On by 5.4% in the first quarter. Canandaigua National Trust Co of Florida now owns 716 shares of the company's stock valued at $241,000 after purchasing an additional 37 shares during the last quarter. Hedge funds and other institutional investors own 84.88% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on SNA shares. Bank of America increased their target price on Snap-On from $265.00 to $285.00 and gave the company an "underperform" rating in a report on Friday, July 18th. Robert W. Baird raised their price target on shares of Snap-On from $329.00 to $347.00 and gave the stock a "neutral" rating in a research note on Friday, July 18th. Barrington Research reiterated an "outperform" rating and set a $350.00 price target on shares of Snap-On in a report on Tuesday, July 15th. Finally, Wall Street Zen raised shares of Snap-On from a "hold" rating to a "buy" rating in a research note on Friday, May 16th. Four investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $356.17.

Snap-On Trading Up 3.5%

Shares of SNA traded up $11.3710 during mid-day trading on Friday, reaching $332.7510. The company had a trading volume of 230,404 shares, compared to its average volume of 250,540. Snap-On Incorporated has a fifty-two week low of $268.90 and a fifty-two week high of $373.89. The firm has a fifty day simple moving average of $320.24 and a 200-day simple moving average of $324.05. The stock has a market cap of $17.36 billion, a price-to-earnings ratio of 17.75, a price-to-earnings-growth ratio of 2.32 and a beta of 0.76. The company has a current ratio of 4.48, a quick ratio of 3.42 and a debt-to-equity ratio of 0.21.

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

Snap-On Announces Dividend

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

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 dated Friday, August 15th. The shares were sold at an average price of $325.21, for a total value of $40,651.25. Following the completion of the transaction, the chief financial officer owned 111,721 shares in the company, valued at approximately $36,332,786.41. This represents a 0.11% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Nicholas T. Pinchuk sold 23,042 shares of the stock in a transaction that occurred on Monday, August 11th. The stock was sold at an average price of $320.88, for a total value of $7,393,716.96. Following the completion of the transaction, the chief executive officer directly owned 815,219 shares of the company's stock, valued at $261,587,472.72. This trade represents a 2.75% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 52,160 shares of company stock worth $16,650,792 over the last 90 days. 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.