Snap-On Incorporated $SNA Shares Sold by Fjarde AP Fonden Fourth Swedish National Pension Fund

Key Points

• Fjarde AP Fonden Fourth Swedish National Pension Fund has reduced its stake in Snap-On Incorporated by 33.2%, selling 6,700 shares and now holding 13,481 shares valued at approximately $4.54 million.
• Snap-On recently reported $4.72 EPS for the quarter, exceeding estimates, and announced a quarterly dividend of $2.14, indicating a 2.6% yield for shareholders.
• Analysts have upgraded Snap-On’s stock rating to a "Moderate Buy", with a consensus price target of $356.17, highlighting a positive outlook amidst some mixed ratings from various brokerages.

Fjarde AP Fonden Fourth Swedish National Pension Fund lowered its position in shares of Snap-On Incorporated (NYSE:SNA - Free Report) by 33.2% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 13,481 shares of the company's stock after selling 6,700 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund's holdings in Snap-On were worth $4,543,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Jump Financial LLC acquired a new position in Snap-On in the fourth quarter valued at $401,000. NewEdge Advisors LLC boosted its stake in Snap-On by 2.9% in the fourth quarter. NewEdge Advisors LLC now owns 6,016 shares of the company's stock valued at $2,043,000 after acquiring an additional 168 shares in the last quarter. GeoWealth Management LLC boosted its stake in Snap-On by 221.2% in the fourth quarter. GeoWealth Management LLC now owns 1,031 shares of the company's stock valued at $350,000 after acquiring an additional 710 shares in the last quarter. First Trust Advisors LP boosted its stake in Snap-On by 29.2% in the fourth quarter. First Trust Advisors LP now owns 1,819,403 shares of the company's stock valued at $617,651,000 after acquiring an additional 411,317 shares in the last quarter. Finally, Epoch Investment Partners Inc. acquired a new position in Snap-On in the fourth quarter valued at $13,232,000. Institutional investors and hedge funds own 84.88% of the company's stock.

Snap-On Stock Performance

Shares of NYSE:SNA traded up $10.8150 on Friday, reaching $332.1950. The company's stock had a trading volume of 47,303 shares, compared to its average volume of 377,729. The stock has a market capitalization of $17.33 billion, a P/E ratio of 17.72, a PEG ratio of 2.25 and a beta of 0.76. Snap-On Incorporated has a 52-week low of $268.90 and a 52-week high of $373.89. The stock's 50-day moving average is $319.78 and its two-hundred day moving average is $324.44. The company has a debt-to-equity ratio of 0.21, a current ratio of 4.48 and a quick ratio of 3.42.

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

Snap-On Dividend Announcement

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

Insider Buying and Selling

In related news, CEO Nicholas T. Pinchuk sold 23,172 shares of the stock in a transaction dated Monday, June 2nd. The shares were sold at an average price of $315.85, for a total transaction of $7,318,876.20. Following the completion of the transaction, the chief executive officer directly owned 804,510 shares of the company's stock, valued at $254,104,483.50. This represents a 2.80% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Karen L. Daniel sold 1,090 shares of the stock in a transaction dated Thursday, June 5th. The stock was sold at an average price of $319.92, for a total transaction of $348,712.80. Following the transaction, the director directly owned 8,030 shares of the company's stock, valued at $2,568,957.60. This represents a 11.95% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 52,160 shares of company stock valued at $16,650,792 over the last ninety days. Corporate insiders own 3.90% of the company's stock.

Analyst Ratings Changes

SNA has been the subject of several research analyst reports. Robert W. Baird upped their price objective on shares of Snap-On from $329.00 to $347.00 and gave the company a "neutral" rating in a research note on Friday, July 18th. Barrington Research restated an "outperform" rating and issued a $350.00 price objective on shares of Snap-On in a research note on Tuesday, July 15th. Bank of America upped their target price on shares of Snap-On from $265.00 to $285.00 and gave the company an "underperform" rating in a report on Friday, July 18th. Finally, Wall Street Zen raised shares of Snap-On from a "hold" rating to a "buy" rating in a 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 stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $356.17.

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.