Snap-On Incorporated $SNA Shares Sold by KLP Kapitalforvaltning AS

Key Points

• KLP Kapitalforvaltning AS trimmed its stake in Snap‑On by 4.4% in Q4, selling 4,120 shares and ending the period with 90,484 shares (about 0.17%) valued at roughly $31.18 million, while institutional investors own about 84.9% of the stock.
• Snap‑On reported Q results with $4.94 EPS (beat by $0.08) and $1.23B in revenue (slightly below estimates); the company has a $19.94B market cap, a PE of 19.96, and pays a quarterly dividend of $2.44 (2.5% yield).
• Corporate insiders have been active sellers—39,650 shares sold in the past three months worth $15.21M (insider ownership 3.8%)—while analyst sentiment is mixed but averages to a Moderate Buy with a $373.80 target.

KLP Kapitalforvaltning AS cut its stake in shares of Snap-On Incorporated (NYSE:SNA - Free Report) by 4.4% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 90,484 shares of the company's stock after selling 4,120 shares during the period. KLP Kapitalforvaltning AS owned about 0.17% of Snap-On worth $31,181,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Thurston Springer Miller Herd & Titak Inc. acquired a new position in Snap-On during the fourth quarter worth $25,000. GoalVest Advisory LLC acquired a new position in Snap-On during the fourth quarter worth $28,000. SJS Investment Consulting Inc. raised its position in Snap-On by 1,880.0% during the third quarter. SJS Investment Consulting Inc. now owns 99 shares of the company's stock worth $34,000 after acquiring an additional 94 shares during the period. Quent Capital LLC acquired a new position in Snap-On during the third quarter worth $36,000. Finally, MUFG Securities EMEA plc acquired a new position in Snap-On during the second quarter worth $48,000. 84.88% of the stock is currently owned by institutional investors and hedge funds.

Snap-On Trading Down 0.2%

Shares of SNA stock opened at $383.00 on Thursday. The company has a debt-to-equity ratio of 0.20, a current ratio of 4.79 and a quick ratio of 3.68. The firm has a market cap of $19.94 billion, a PE ratio of 19.96, a price-to-earnings-growth ratio of 2.65 and a beta of 0.77. The company has a 50-day moving average of $374.44 and a two-hundred day moving average of $358.25. Snap-On Incorporated has a 1-year low of $301.76 and a 1-year high of $390.13.

Snap-On (NYSE:SNA - Get Free Report) last announced its earnings results on Thursday, February 5th. The company reported $4.94 earnings per share for the quarter, topping the consensus estimate of $4.86 by $0.08. The company had revenue of $1.23 billion during the quarter, compared to analyst estimates of $1.24 billion. Snap-On had a net margin of 21.44% and a return on equity of 17.34%. Snap-On's revenue was up 2.8% compared to the same quarter last year. During the same quarter last year, the firm posted $4.82 earnings per share. On average, analysts predict that Snap-On Incorporated will post 19.86 EPS for the current year.

Snap-On Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 10th. Shareholders of record on Tuesday, February 24th were paid a dividend of $2.44 per share. This represents a $9.76 annualized dividend and a yield of 2.5%. The ex-dividend date of this dividend was Tuesday, February 24th. Snap-On's dividend payout ratio (DPR) is 50.86%.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on SNA. Roth Mkm restated a "buy" rating and set a $409.00 price objective (up from $385.00) on shares of Snap-On in a research report on Tuesday, February 10th. Wall Street Zen cut shares of Snap-On from a "buy" rating to a "hold" rating in a research report on Saturday, February 7th. Robert W. Baird upped their price objective on shares of Snap-On from $375.00 to $380.00 and gave the stock a "neutral" rating in a research report on Tuesday. Tigress Financial upped their price objective on shares of Snap-On from $405.00 to $445.00 and gave the stock a "buy" rating in a research report on Friday, February 27th. Finally, Weiss Ratings reaffirmed a "buy (b)" rating on shares of Snap-On in a report on Monday. Four investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Snap-On currently has an average rating of "Moderate Buy" and an average target price of $373.80.

Insider Activity at Snap-On

In other Snap-On news, SVP Timothy L. Chambers sold 8,000 shares of the stock in a transaction dated Wednesday, February 4th. The shares were sold at an average price of $385.13, for a total transaction of $3,081,040.00. Following the completion of the transaction, the senior vice president owned 19,480 shares of the company's stock, valued at $7,502,332.40. This trade represents a 29.11% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP June C. Lemerand sold 1,378 shares of the stock in a transaction dated Wednesday, February 25th. The stock was sold at an average price of $387.57, for a total transaction of $534,071.46. Following the transaction, the vice president directly owned 2,913 shares of the company's stock, valued at approximately $1,128,991.41. This trade represents a 32.11% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 39,650 shares of company stock worth $15,210,959. 3.80% of the stock is owned by corporate insiders.

Snap-On Company 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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