BI Asset Management Fondsmaeglerselskab A S Purchases 2,765 Shares of Snap-on Incorporated (NYSE:SNA)

BI Asset Management Fondsmaeglerselskab A S grew its holdings in shares of Snap-on Incorporated (NYSE:SNA - Free Report) by 130.1% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,891 shares of the company's stock after purchasing an additional 2,765 shares during the period. BI Asset Management Fondsmaeglerselskab A S's holdings in Snap-on were worth $1,660,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in the business. UMB Bank n.a. grew its stake in shares of Snap-on by 70.5% in the 4th quarter. UMB Bank n.a. now owns 75 shares of the company's stock worth $25,000 after purchasing an additional 31 shares during the last quarter. SBI Securities Co. Ltd. acquired a new position in shares of Snap-on in the 4th quarter worth approximately $26,000. Migdal Insurance & Financial Holdings Ltd. acquired a new position in shares of Snap-on in the 4th quarter worth approximately $28,000. CoreFirst Bank & Trust acquired a new position in shares of Snap-on in the 4th quarter worth approximately $40,000. Finally, TCTC Holdings LLC grew its stake in shares of Snap-on by 41.3% in the 4th quarter. TCTC Holdings LLC now owns 147 shares of the company's stock worth $50,000 after purchasing an additional 43 shares during the last quarter. Institutional investors own 84.88% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the stock. Robert W. Baird lowered their price objective on shares of Snap-on from $349.00 to $320.00 and set a "neutral" rating on the stock in a research note on Monday, April 21st. Barrington Research reaffirmed an "outperform" rating and issued a $350.00 price objective on shares of Snap-on in a research note on Thursday, April 17th. Tigress Financial lifted their target price on shares of Snap-on from $385.00 to $390.00 and gave the stock a "buy" rating in a research report on Tuesday, March 4th. Longbow Research raised shares of Snap-on from a "neutral" rating to a "buy" rating and set a $400.00 target price on the stock in a research report on Monday, March 31st. Finally, StockNews.com downgraded shares of Snap-on from a "buy" rating to a "hold" rating in a research report on Friday, April 18th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $350.83.

Insider Activity

In related news, SVP Jesus Arregui sold 6,451 shares of the company's stock in a transaction on Monday, February 10th. The shares were sold at an average price of $337.81, for a total value of $2,179,212.31. Following the completion of the sale, the senior vice president now directly owns 257 shares in the company, valued at approximately $86,817.17. This represents a 96.17 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Nicholas T. Pinchuk sold 22,700 shares of the company's stock in a transaction on Thursday, March 27th. The stock was sold at an average price of $335.32, for a total transaction of $7,611,764.00. Following the completion of the sale, the chief executive officer now owns 793,932 shares of the company's stock, valued at $266,221,278.24. This represents a 2.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 36,011 shares of company stock worth $12,116,859 in the last ninety days. Corporate insiders own 3.90% of the company's stock.

Snap-on Stock Down 0.7 %

Shares of SNA stock traded down $2.10 during trading on Friday, hitting $308.64. 262,956 shares of the company were exchanged, compared to its average volume of 357,703. The firm has a market capitalization of $16.14 billion, a price-to-earnings ratio of 15.83, a P/E/G ratio of 2.21 and a beta of 0.84. The company has a debt-to-equity ratio of 0.22, a quick ratio of 3.17 and a current ratio of 4.15. The business's 50-day simple moving average is $328.13 and its 200 day simple moving average is $338.95. Snap-on Incorporated has a twelve month low of $252.98 and a twelve month high of $373.90.

Snap-on (NYSE:SNA - Get Free Report) last posted its quarterly earnings results on Thursday, April 17th. The company reported $4.51 EPS for the quarter, missing the consensus estimate of $4.81 by ($0.30). Snap-on had a net margin of 21.71% and a return on equity of 19.20%. The company had revenue of $1.14 billion for the quarter, compared to analysts' expectations of $1.20 billion. During the same quarter in the prior year, the firm earned $4.91 earnings per share. As a group, analysts forecast that Snap-on Incorporated will post 19.79 EPS for the current fiscal year.

Snap-on Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Tuesday, May 20th will be issued a dividend of $2.14 per share. This represents a $8.56 annualized dividend and a dividend yield of 2.77%. The ex-dividend date is Tuesday, May 20th. Snap-on's dividend payout ratio is currently 44.82%.

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.