Danske Bank A S Takes Position in Snap-On Incorporated $SNA

Danske Bank A S purchased a new position in Snap-On Incorporated (NYSE:SNA - Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 41,128 shares of the company's stock, valued at approximately $16,550,000. Danske Bank A S owned 0.08% of Snap-On as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of SNA. DV Equities LLC purchased a new position in Snap-On during the fourth quarter valued at approximately $25,000. Western Wealth Management LLC purchased a new stake in Snap-On during the first quarter worth $29,000. Montag A & Associates Inc. boosted its position in Snap-On by 331.8% during the 4th quarter. Montag A & Associates Inc. now owns 95 shares of the company's stock valued at $33,000 after acquiring an additional 73 shares in the last quarter. Quattro Advisors LLC bought a new stake in Snap-On during the 4th quarter valued at $35,000. Finally, Annis Gardner Whiting Capital Advisors LLC increased its holdings in shares of Snap-On by 36.4% in the 4th quarter. Annis Gardner Whiting Capital Advisors LLC now owns 105 shares of the company's stock valued at $36,000 after acquiring an additional 28 shares during the period. 84.88% of the stock is currently owned by institutional investors.

Snap-On Stock Down 0.7%

Snap-On stock opened at $391.28 on Friday. 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 stock has a market capitalization of $20.24 billion, a price-to-earnings ratio of 19.95, a PEG ratio of 2.77 and a beta of 0.73. Snap-On Incorporated has a 1-year low of $319.20 and a 1-year high of $423.02. The business has a fifty day moving average price of $403.18 and a 200-day moving average price of $384.50.

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

Snap-On declared that its Board of Directors has initiated a stock repurchase program on Thursday, April 30th that permits the company to repurchase $500.00 million in shares. This repurchase authorization permits the company to repurchase up to 2.5% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company's leadership believes its stock is undervalued.

Snap-On Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 10th. Shareholders of record on Wednesday, August 19th will be paid a dividend of $2.44 per share. The ex-dividend date is Wednesday, August 19th. This represents a $9.76 dividend on an annualized basis and a yield of 2.5%. Snap-On's dividend payout ratio is presently 49.77%.

Insiders Place Their Bets

In related news, VP Richard Thomas Miller sold 2,000 shares of the company's stock in a transaction on Wednesday, July 1st. The stock was sold at an average price of $405.92, for a total value of $811,840.00. Following the transaction, the vice president directly owned 4,529 shares of the company's stock, valued at $1,838,411.68. This represents a 30.63% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Aldo John Pagliari sold 5,531 shares of the firm's stock in a transaction on Thursday, August 13th. The stock was sold at an average price of $404.25, for a total value of $2,235,906.75. Following the completion of the transaction, the chief financial officer owned 120,644 shares of the company's stock, valued at $48,770,337. This trade represents a 4.38% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 45,928 shares of company stock valued at $18,483,009. Corporate insiders own 3.80% of the company's stock.

Analyst Ratings Changes

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

Snap-On Company 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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