Nordea Investment Management AB Acquires 51,486 Shares of Snap-On Incorporated $SNA

Key Points

• Nordea Investment Management AB raised its stake in Snap‑On by 4.1%, buying 51,486 shares to hold 1,310,198 shares (about 2.52% of the company) valued at roughly $454.2 million.
• Company insiders have been net sellers — CFO Aldo John Pagliari sold 7,043 shares and VP June C. Lemerand sold 1,378 shares, with insiders selling 39,650 shares totaling $15.21 million in the last quarter and now owning 3.90% of the stock.
• Snap‑On reported $4.94 EPS (beating estimates), declared a $2.44 quarterly dividend (annualized $9.76, yield ~2.7%), and holds a market cap of about $18.6 billion with a consensus analyst rating of "Moderate Buy" and a $377.33 target price.

Nordea Investment Management AB raised its holdings in Snap-On Incorporated (NYSE:SNA - Free Report) by 4.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,310,198 shares of the company's stock after acquiring an additional 51,486 shares during the period. Nordea Investment Management AB owned about 2.52% of Snap-On worth $454,206,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently modified their holdings of the business. GoalVest Advisory LLC bought a new position in shares of Snap-On during the 4th quarter valued at about $28,000. Vermillion & White Wealth Management Group LLC increased its stake in Snap-On by 97.9% during the 2nd quarter. Vermillion & White Wealth Management Group LLC now owns 95 shares of the company's stock worth $30,000 after purchasing an additional 47 shares in the last quarter. SJS Investment Consulting Inc. raised its holdings in Snap-On by 1,880.0% during the 3rd quarter. SJS Investment Consulting Inc. now owns 99 shares of the company's stock worth $34,000 after buying an additional 94 shares during the period. Quent Capital LLC acquired a new stake in Snap-On during the 3rd quarter worth approximately $36,000. Finally, CoreFirst Bank & Trust bought a new position in Snap-On in the second quarter valued at approximately $37,000. 84.88% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Snap-On

In related news, CFO Aldo John Pagliari sold 7,043 shares of the company's stock in a transaction dated Thursday, February 19th. The stock was sold at an average price of $382.05, for a total transaction of $2,690,778.15. Following the sale, the chief financial officer owned 117,183 shares in the company, valued at approximately $44,769,765.15. This represents a 5.67% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, VP June C. Lemerand sold 1,378 shares of the stock in a transaction that occurred on Wednesday, February 25th. The shares were sold at an average price of $387.57, for a total value of $534,071.46. Following the transaction, the vice president directly owned 2,913 shares of the company's stock, valued at $1,128,991.41. This trade represents a 32.11% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 39,650 shares of company stock valued at $15,210,959. Corporate insiders own 3.90% of the company's stock.

Wall Street Analyst Weigh In

SNA has been the subject of several research reports. Weiss Ratings reissued a "buy (b)" rating on shares of Snap-On in a research report on Wednesday, January 21st. Wall Street Zen cut shares of Snap-On from a "buy" rating to a "hold" rating in a research report on Saturday, February 7th. Roth Mkm reaffirmed a "buy" rating and issued a $409.00 target price (up from $385.00) on shares of Snap-On in a research note on Tuesday, February 10th. Robert W. Baird set a $375.00 target price on Snap-On in a report on Friday, February 6th. Finally, Tigress Financial lifted their price target on Snap-On from $405.00 to $445.00 and gave the company a "buy" rating in a research note on Friday, February 27th. Five investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $377.33.

Snap-On Price Performance

Shares of SNA opened at $357.03 on Friday. The company has a quick ratio of 3.68, a current ratio of 4.79 and a debt-to-equity ratio of 0.20. Snap-On Incorporated has a twelve month low of $289.81 and a twelve month high of $390.13. The stock has a market capitalization of $18.59 billion, a P/E ratio of 18.61, a P/E/G ratio of 2.46 and a beta of 0.78. The company has a 50 day moving average of $373.42 and a 200-day moving average of $352.60.

Snap-On (NYSE:SNA - Get Free Report) last announced its earnings results on Thursday, February 5th. The company reported $4.94 EPS for the quarter, topping the consensus estimate of $4.86 by $0.08. The business had revenue of $1.23 billion during the quarter, compared to analysts' expectations of $1.24 billion. Snap-On had a net margin of 21.44% and a return on equity of 17.34%. The firm's revenue was up 2.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $4.82 earnings per share. As a group, equities research analysts forecast that Snap-On Incorporated will post 19.79 EPS for the current fiscal year.

Snap-On Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 10th. Shareholders of record on Tuesday, February 24th were given a dividend of $2.44 per share. The ex-dividend date of this dividend was Tuesday, February 24th. This represents a $9.76 annualized dividend and a yield of 2.7%. Snap-On's payout ratio is 50.86%.

Snap-On 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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