Fjarde AP Fonden Fourth Swedish National Pension Fund Sells 4,260 Shares of Snap-On Incorporated $SNA

Key Points

• Fjarde AP Fonden cut its Snap-On stake by 22.5% in the fourth quarter, selling 4,260 shares and ending with 14,650 shares valued at about $5.05 million.
• Analysts remain generally constructive on Snap-On, with five Buy ratings, one Hold, and one Sell; the stock currently carries a Moderate Buy consensus and an average target price of $387.67.
• Snap-On reported quarterly EPS of $4.69, missing estimates, but revenue came in at $1.21 billion and rose 5.8% year over year. The company also announced a $500 million share repurchase program and a quarterly dividend of $2.44 per share.

Fjarde AP Fonden Fourth Swedish National Pension Fund lowered its stake in shares of Snap-On Incorporated (NYSE:SNA - Free Report) by 22.5% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 14,650 shares of the company's stock after selling 4,260 shares during the quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund's holdings in Snap-On were worth $5,048,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in SNA. Thurston Springer Miller Herd & Titak Inc. bought a new stake in Snap-On during the fourth quarter worth approximately $25,000. GoalVest Advisory LLC bought a new stake in Snap-On during the fourth quarter worth approximately $28,000. Montag A & Associates Inc. boosted its position in Snap-On by 331.8% during the fourth quarter. Montag A & Associates Inc. now owns 95 shares of the company's stock worth $33,000 after purchasing an additional 73 shares during the period. Annis Gardner Whiting Capital Advisors LLC boosted its position in shares of Snap-On by 36.4% in the fourth 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. Finally, United Community Bank bought a new stake in shares of Snap-On in the fourth quarter valued at approximately $43,000. Institutional investors own 84.88% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on SNA. Robert W. Baird increased their price objective on Snap-On from $380.00 to $395.00 and gave the company a "neutral" rating in a research report on Friday, April 24th. Roth Mkm reissued a "buy" rating and issued a $431.00 price objective on shares of Snap-On in a research report on Friday, April 24th. Tigress Financial increased their price objective on Snap-On from $405.00 to $445.00 and gave the company a "buy" rating in a research report on Friday, February 27th. Barclays began coverage on Snap-On in a research report on Thursday, May 28th. They issued an "overweight" rating and a $420.00 price objective for the company. Finally, Weiss Ratings reissued a "buy (b)" rating on shares of Snap-On in a research report on Monday, April 20th. Five equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Snap-On presently has an average rating of "Moderate Buy" and an average target price of $387.67.

Insider Buying and Selling at Snap-On

In related news, CEO Nicholas T. Pinchuk sold 23,396 shares of the firm's stock in a transaction on Tuesday, May 5th. The stock was sold at an average price of $375.77, for a total value of $8,791,514.92. Following the completion of the transaction, the chief executive officer directly owned 856,918 shares of the company's stock, valued at $322,004,076.86. This trade represents a 2.66% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Aldo John Pagliari sold 5,713 shares of the firm's stock in a transaction on Thursday, May 14th. The stock was sold at an average price of $367.19, for a total value of $2,097,756.47. Following the completion of the transaction, the chief financial officer directly owned 119,488 shares of the company's stock, valued at approximately $43,874,798.72. This trade represents a 4.56% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 30,439 shares of company stock valued at $11,393,700. 3.80% of the stock is owned by company insiders.

Snap-On Stock Up 0.3%

Shares of SNA stock opened at $380.85 on Tuesday. The stock has a market cap of $19.73 billion, a P/E ratio of 19.66, a price-to-earnings-growth ratio of 2.67 and a beta of 0.73. Snap-On Incorporated has a one year low of $301.82 and a one year high of $400.88. The stock has a fifty day moving average price of $372.97 and a 200 day moving average price of $365.89. The company has a debt-to-equity ratio of 0.15, a current ratio of 3.53 and a quick ratio of 2.74.

Snap-On (NYSE:SNA - Get Free Report) last issued its earnings results on Thursday, April 23rd. The company reported $4.69 EPS for the quarter, missing the consensus estimate of $4.75 by ($0.06). The firm had revenue of $1.21 billion during the quarter, compared to the consensus estimate of $1.19 billion. Snap-On had a return on equity of 17.13% and a net margin of 21.28%.The firm's revenue for the quarter was up 5.8% compared to the same quarter last year. During the same period last year, the business earned $4.51 earnings per share. Analysts predict that Snap-On Incorporated will post 19.7 earnings per share for the current year.

Snap-On Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 10th. Investors of record on Wednesday, May 20th will be given a $2.44 dividend. This represents a $9.76 annualized dividend and a yield of 2.6%. The ex-dividend date of this dividend is Wednesday, May 20th. Snap-On's dividend payout ratio (DPR) is 50.39%.

Snap-On declared that its Board of Directors has approved 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 purchase up to 2.6% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company's board of directors believes its shares are undervalued.

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.