KLP Kapitalforvaltning AS Has $32.24 Million Stock Position in Snap-On Incorporated $SNA

Key Points

• KLP Kapitalforvaltning AS has increased its stake in Snap-On Incorporated by 21.9% to $32.24 million, now owning 103,604 shares as of its latest SEC filing.
• Snap-On recently reported a quarterly EPS of $4.72, exceeding analyst expectations and achieving a 20.98% net margin on $1.18 billion in revenue.
• The company declared a quarterly dividend of $2.14 per share, representing a 2.5% yield and a payout ratio of 45.65%.

KLP Kapitalforvaltning AS increased its holdings in shares of Snap-On Incorporated (NYSE:SNA - Free Report) by 21.9% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 103,604 shares of the company's stock after buying an additional 18,600 shares during the quarter. KLP Kapitalforvaltning AS owned 0.20% of Snap-On worth $32,239,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in SNA. Merit Financial Group LLC lifted its holdings in Snap-On by 23.7% during the first quarter. Merit Financial Group LLC now owns 1,497 shares of the company's stock worth $504,000 after acquiring an additional 287 shares in the last quarter. Portside Wealth Group LLC lifted its holdings in Snap-On by 4.6% during the first quarter. Portside Wealth Group LLC now owns 3,078 shares of the company's stock worth $1,037,000 after acquiring an additional 134 shares in the last quarter. GAMMA Investing LLC lifted its holdings in Snap-On by 93.5% during the first quarter. GAMMA Investing LLC now owns 2,086 shares of the company's stock worth $703,000 after acquiring an additional 1,008 shares in the last quarter. SG Americas Securities LLC raised its stake in shares of Snap-On by 634.8% in the 1st quarter. SG Americas Securities LLC now owns 3,762 shares of the company's stock valued at $1,268,000 after purchasing an additional 3,250 shares during the period. Finally, Handelsbanken Fonder AB raised its stake in shares of Snap-On by 0.9% in the 1st quarter. Handelsbanken Fonder AB now owns 38,476 shares of the company's stock valued at $12,967,000 after purchasing an additional 353 shares during the period. 84.88% of the stock is currently owned by institutional investors.

Snap-On Trading Down 1.1%

Snap-On stock opened at $336.75 on Wednesday. Snap-On Incorporated has a 52 week low of $284.38 and a 52 week high of $373.89. The company has a debt-to-equity ratio of 0.21, a quick ratio of 3.42 and a current ratio of 4.48. The stock has a market capitalization of $17.57 billion, a P/E ratio of 17.96, a PEG ratio of 2.37 and a beta of 0.78. The stock has a 50-day simple moving average of $330.45 and a 200 day simple moving average of $323.78.

Snap-On (NYSE:SNA - Get Free Report) last posted its quarterly earnings results on Thursday, July 17th. The company reported $4.72 EPS for the quarter, topping analysts' consensus estimates 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 during the quarter, compared to analysts' expectations of $1.16 billion. During the same quarter last year, the company posted $5.07 earnings per share. Snap-On's quarterly revenue was up .0% on a year-over-year basis. Analysts expect that Snap-On Incorporated will post 19.79 earnings per share for the current year.

Snap-On Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 10th. Investors of record on Tuesday, August 19th were issued a dividend of $2.14 per share. The ex-dividend date was Tuesday, August 19th. This represents a $8.56 dividend on an annualized basis and a yield of 2.5%. Snap-On's dividend payout ratio (DPR) is presently 45.65%.

Analysts Set New Price Targets

Several research firms have issued reports on SNA. Robert W. Baird lifted their price target on Snap-On from $329.00 to $347.00 and gave the company a "neutral" rating in a research note on Friday, July 18th. Tigress Financial raised their price objective on Snap-On from $390.00 to $395.00 and gave the company a "buy" rating in a report on Friday, August 29th. Bank of America raised their price objective on Snap-On from $265.00 to $285.00 and gave the company an "underperform" rating in a report on Friday, July 18th. Weiss Ratings restated a "buy (b)" rating on shares of Snap-On in a report on Saturday, September 27th. Finally, Barrington Research restated an "outperform" rating and issued a $350.00 price objective on shares of Snap-On in a report on Tuesday, September 23rd. Five equities research 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's stock. According to MarketBeat.com, Snap-On has a consensus rating of "Moderate Buy" and an average price target of $357.00.

Insider Activity at Snap-On

In other Snap-On news, CFO Aldo John Pagliari sold 125 shares of the firm's stock in a transaction that occurred on Friday, August 15th. The shares were sold at an average price of $325.21, for a total transaction of $40,651.25. Following the completion of the sale, the chief financial officer directly owned 111,721 shares in the company, valued at $36,332,786.41. This trade represents a 0.11% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Nicholas T. Pinchuk sold 23,042 shares of the firm's stock in a transaction that occurred on Monday, August 11th. The stock was sold at an average price of $320.88, for a total transaction of $7,393,716.96. Following the sale, the chief executive officer 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 have sold 27,898 shares of company stock valued at $8,983,203 over the last 90 days. Company insiders own 3.90% of the company's stock.

About Snap-On

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.

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