Nykredit A S Makes New $9.41 Million Investment in Snap-On Incorporated $SNA

Key Points

• Nykredit A/S initiated a $9.41 million position in Snap-On during the second quarter by purchasing 23,380 shares. Institutional investors collectively own 84.88% of the company.
• Analyst sentiment remains positive, with five Buy ratings and one Hold rating, producing a “Moderate Buy” consensus and an average price target of $426.20.
• Snap-On exceeded quarterly expectations, reporting $4.96 in earnings per share and $1.24 billion in revenue, while revenue increased 4.7% year over year. The company also maintains a $2.44 quarterly dividend, equal to a 2.6% yield.

Nykredit A S bought a new position in shares of Snap-On Incorporated (NYSE:SNA - Free Report) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 23,380 shares of the company's stock, valued at approximately $9,408,000.

Several other institutional investors have also recently made changes to their positions in the company. Miller Howard Investments Inc. NY purchased a new position in Snap-On during the first quarter valued at $51,244,000. QRG Capital Management Inc. grew its position in shares of Snap-On by 9.9% in the 1st quarter. QRG Capital Management Inc. now owns 86,849 shares of the company's stock worth $31,545,000 after buying an additional 7,798 shares during the period. Fisher Asset Management LLC lifted its position in Snap-On by 21.8% during the 4th quarter. Fisher Asset Management LLC now owns 66,017 shares of the company's stock valued at $22,750,000 after acquiring an additional 11,808 shares during the period. Hsbc Holdings PLC lifted its position in Snap-On by 0.9% during the 4th quarter. Hsbc Holdings PLC now owns 374,236 shares of the company's stock valued at $128,974,000 after acquiring an additional 3,321 shares during the period. Finally, Sanctuary Advisors LLC grew its holdings in Snap-On by 8.0% in the first quarter. Sanctuary Advisors LLC now owns 36,690 shares of the company's stock worth $13,326,000 after purchasing an additional 2,714 shares during the period. Institutional investors own 84.88% of the company's stock.

Analyst Upgrades and Downgrades

SNA has been the subject of several recent research reports. Weiss Ratings reiterated a "buy (b)" rating on shares of Snap-On in a report on Friday, July 17th. Roth Capital restated a "buy" rating and issued a $461.00 price target (up from $409.00) on shares of Snap-On in a research note on Friday, July 24th. Tigress Financial raised their price objective on Snap-On from $445.00 to $485.00 and gave the company a "buy" rating in a research report on Friday, July 31st. 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. Finally, Robert W. Baird set a $415.00 target price on Snap-On in a 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's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $426.20.

Snap-On Stock Performance

SNA stock opened at $372.17 on Monday. The stock's 50 day simple moving average is $397.25 and its 200 day simple moving average is $384.80. The company has a current ratio of 3.43, a quick ratio of 2.64 and a debt-to-equity ratio of 0.15. Snap-On Incorporated has a 12-month low of $320.80 and a 12-month high of $423.02. The stock has a market capitalization of $19.25 billion, a PE ratio of 18.98, a price-to-earnings-growth ratio of 2.62 and a beta of 0.72.

Snap-On (NYSE:SNA - Get Free Report) last posted its quarterly 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. The firm had revenue of $1.24 billion during the quarter, compared to analysts' expectations of $1.22 billion. Snap-On had a return on equity of 17.07% and a net margin of 21.25%.The company's revenue was up 4.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $4.72 earnings per share. As a group, research analysts forecast that Snap-On Incorporated will post 19.7 earnings per share for the current fiscal year.

Snap-On Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 10th. Stockholders of record on Wednesday, August 19th were issued a dividend of $2.44 per share. This represents a $9.76 annualized dividend and a dividend yield of 2.6%. The ex-dividend date of this dividend was Wednesday, August 19th. Snap-On's payout ratio is presently 49.77%.

Insiders Place Their Bets

In other Snap-On news, SVP Timothy L. Chambers sold 9,111 shares of the stock in a transaction that occurred on Tuesday, July 28th. The shares were sold at an average price of $419.36, for a total value of $3,820,788.96. Following the transaction, the senior vice president directly owned 21,223 shares in the company, valued at approximately $8,900,077.28. This trade represents a 30.04% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Marty V. Ozolins sold 800 shares of Snap-On stock in a transaction on Wednesday, August 26th. The stock was sold at an average price of $400.00, for a total transaction of $320,000.00. Following the transaction, the vice president owned 1,526 shares in the company, valued at $610,400. This represents a 34.39% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 40,720 shares of company stock valued at $16,500,198. 3.80% of the stock is currently owned by company insiders.

Snap-On Profile

Snap-on Incorporated is a manufacturer and distributor of professional tools, equipment, diagnostics and repair information. Its products include hand and power tools, tool storage, vehicle diagnostic systems, shop equipment, repair software and related services. The company serves professional technicians and customers in the automotive repair, commercial transportation, industrial, aviation, military, agriculture and other technical markets.

Snap-on sells products under the Snap-on brand and other brands, including Blue-Point, through a broad distribution network.

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