KLP Kapitalforvaltning AS Takes $25.39 Million Position in Snap-on Incorporated (NYSE:SNA)

KLP Kapitalforvaltning AS acquired a new position in shares of Snap-on Incorporated (NYSE:SNA) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 74,804 shares of the company’s stock, valued at approximately $25,394,000.

Other institutional investors also recently added to or reduced their stakes in the company. Greenleaf Trust lifted its holdings in Snap-on by 3.1% in the 4th quarter. Greenleaf Trust now owns 1,013 shares of the company’s stock valued at $344,000 after acquiring an additional 30 shares during the last quarter. UMB Bank n.a. grew its stake in Snap-on by 70.5% in the fourth quarter. UMB Bank n.a. now owns 75 shares of the company’s stock valued at $25,000 after purchasing an additional 31 shares in the last quarter. WCM Investment Management LLC raised its stake in shares of Snap-on by 4.5% during the 4th quarter. WCM Investment Management LLC now owns 727 shares of the company’s stock worth $247,000 after purchasing an additional 31 shares in the last quarter. New York Life Investment Management LLC lifted its holdings in shares of Snap-on by 0.4% during the 4th quarter. New York Life Investment Management LLC now owns 7,106 shares of the company’s stock valued at $2,412,000 after buying an additional 31 shares during the last quarter. Finally, Inspire Advisors LLC grew its position in Snap-on by 1.0% in the fourth quarter. Inspire Advisors LLC now owns 3,382 shares of the company’s stock worth $1,148,000 after acquiring an additional 34 shares in the last quarter. Institutional investors and hedge funds own 84.88% of the company’s stock.

Insider Transactions at Snap-on

In related news, SVP Jesus Arregui sold 6,451 shares of the business’s stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $337.81, for a total transaction of $2,179,212.31. Following the completion of the sale, the senior vice president now directly owns 257 shares of the company’s stock, valued at $86,817.17. The trade was a 96.17 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CFO Aldo John Pagliari sold 6,860 shares of the company’s stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $339.05, for a total transaction of $2,325,883.00. Following the sale, the chief financial officer now owns 107,096 shares of the company’s stock, valued at $36,310,898.80. The trade was a 6.02 % decrease in their position. The disclosure for this sale can be found here. 4.10% of the stock is owned by company insiders.

Snap-on Stock Performance

NYSE:SNA opened at $327.59 on Friday. Snap-on Incorporated has a 12-month low of $252.98 and a 12-month high of $373.90. The firm has a market capitalization of $17.17 billion, a PE ratio of 16.80, a price-to-earnings-growth ratio of 2.21 and a beta of 0.99. The firm has a 50-day moving average price of $340.99 and a 200 day moving average price of $331.41. The company has a quick ratio of 3.17, a current ratio of 4.15 and a debt-to-equity ratio of 0.22.

Snap-on (NYSE:SNA) last posted its quarterly earnings data on Thursday, February 6th. The company reported $4.82 earnings per share for the quarter, topping the consensus estimate of $4.78 by $0.04. Snap-on had a net margin of 21.71% and a return on equity of 19.20%. During the same quarter last year, the business earned $4.75 earnings per share. Research analysts anticipate that Snap-on Incorporated will post 19.79 earnings per share for the current fiscal year.

Snap-on Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Monday, February 24th were paid a $2.14 dividend. This represents a $8.56 dividend on an annualized basis and a dividend yield of 2.61%. The ex-dividend date was Monday, February 24th. Snap-on’s dividend payout ratio is presently 43.90%.

Analysts Set New Price Targets

Several research firms have recently issued reports on SNA. Tigress Financial upped their price target on Snap-on from $385.00 to $390.00 and gave the stock a “buy” rating in a research note on Tuesday, March 4th. Barrington Research restated an “outperform” rating and set a $350.00 price target on shares of Snap-on in a report on Monday, February 10th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $346.40.

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.