Snap-on Incorporated (NYSE:SNA) Shares Sold by Handelsbanken Fonder AB

Handelsbanken Fonder AB lowered its holdings in Snap-on Incorporated (NYSE:SNA) by 11.8% during the 4th quarter, HoldingsChannel.com reports. The firm owned 46,466 shares of the company’s stock after selling 6,223 shares during the quarter. Handelsbanken Fonder AB’s holdings in Snap-on were worth $13,421,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in SNA. BKM Wealth Management LLC acquired a new position in shares of Snap-on in the 4th quarter worth approximately $33,000. Peoples Bank KS purchased a new position in shares of Snap-on in the third quarter worth approximately $40,000. Exchange Traded Concepts LLC purchased a new position in shares of Snap-on in the fourth quarter worth approximately $43,000. Itau Unibanco Holding S.A. purchased a new position in shares of Snap-on in the third quarter worth approximately $49,000. Finally, Orion Capital Management LLC purchased a new position in shares of Snap-on in the third quarter worth approximately $49,000. Institutional investors and hedge funds own 84.88% of the company’s stock.

Insider Buying and Selling at Snap-on

In other Snap-on news, VP Richard Thomas Miller sold 704 shares of Snap-on stock in a transaction that occurred on Thursday, March 28th. The shares were sold at an average price of $298.16, for a total value of $209,904.64. Following the completion of the sale, the vice president now directly owns 3,213 shares in the company, valued at $957,988.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CEO Nicholas T. Pinchuk sold 23,514 shares of Snap-on stock in a transaction that occurred on Tuesday, March 19th. The shares were sold at an average price of $287.48, for a total value of $6,759,804.72. Following the transaction, the chief executive officer now owns 742,383 shares of the company’s stock, valued at $213,420,264.84. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, VP Richard Thomas Miller sold 704 shares of Snap-on stock in a transaction that occurred on Thursday, March 28th. The shares were sold at an average price of $298.16, for a total transaction of $209,904.64. Following the completion of the transaction, the vice president now directly owns 3,213 shares in the company, valued at approximately $957,988.08. The disclosure for this sale can be found here. Insiders sold 47,368 shares of company stock worth $13,399,449 over the last ninety days. 4.10% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on SNA shares. Tigress Financial reissued a “buy” rating and issued a $336.00 target price on shares of Snap-on in a research report on Friday, February 16th. Robert W. Baird dropped their target price on shares of Snap-on from $295.00 to $282.00 and set a “neutral” rating on the stock in a research report on Friday, April 19th. Barrington Research reissued an “outperform” rating and issued a $325.00 target price on shares of Snap-on in a research report on Monday, April 15th. Finally, Roth Mkm reissued a “buy” rating and issued a $324.00 target price on shares of Snap-on in a research report on Thursday, April 18th. Two analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $316.75.

Snap-on Stock Performance

SNA stock opened at $271.30 on Wednesday. The company has a debt-to-equity ratio of 0.23, a quick ratio of 2.83 and a current ratio of 3.82. The stock has a market cap of $14.30 billion, a P/E ratio of 14.23, a P/E/G ratio of 1.85 and a beta of 0.99. The firm has a 50 day simple moving average of $283.80 and a 200 day simple moving average of $278.68. Snap-on Incorporated has a 52 week low of $247.68 and a 52 week high of $298.49.

Snap-on (NYSE:SNA) last posted its earnings results on Thursday, April 18th. The company reported $4.75 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.66 by $0.09. The firm had revenue of $1.18 billion during the quarter, compared to analysts’ expectations of $1.20 billion. Snap-on had a net margin of 21.69% and a return on equity of 20.46%. The company’s revenue was down .1% compared to the same quarter last year. During the same period in the previous year, the company earned $4.60 earnings per share. Research analysts anticipate that Snap-on Incorporated will post 19.06 earnings per share for the current fiscal year.

Snap-on Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 11th. Shareholders of record on Monday, February 26th were paid a $1.86 dividend. This represents a $7.44 dividend on an annualized basis and a yield of 2.74%. The ex-dividend date of this dividend was Friday, February 23rd. Snap-on’s dividend payout ratio (DPR) is presently 39.03%.

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.