DnB Asset Management AS Grows Position in Snap-on Incorporated (NYSE:SNA)

DnB Asset Management AS raised its holdings in shares of Snap-on Incorporated (NYSE:SNAGet Rating) by 2.5% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 18,130 shares of the company’s stock after buying an additional 444 shares during the quarter. DnB Asset Management AS’s holdings in Snap-on were worth $3,572,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. J.W. Cole Advisors Inc. purchased a new stake in shares of Snap-on during the first quarter worth $26,000. Cyrus J. Lawrence LLC purchased a new stake in shares of Snap-on during the first quarter worth $27,000. Parkside Financial Bank & Trust grew its holdings in shares of Snap-on by 57.3% during the first quarter. Parkside Financial Bank & Trust now owns 129 shares of the company’s stock worth $27,000 after buying an additional 47 shares in the last quarter. Zullo Investment Group Inc. grew its holdings in shares of Snap-on by 391.7% in the first quarter. Zullo Investment Group Inc. now owns 177 shares of the company’s stock valued at $36,000 after purchasing an additional 141 shares during the period. Finally, Bromfield Sneider Wealth Advisors purchased a new stake in shares of Snap-on in the first quarter valued at about $38,000. Hedge funds and other institutional investors own 87.31% of the company’s stock.

Wall Street Analyst Weigh In

SNA has been the subject of a number of analyst reports. UBS Group dropped their price objective on shares of Snap-on to $175.00 in a report on Friday, July 22nd. MKM Partners initiated coverage on shares of Snap-on in a report on Thursday, June 9th. They issued a “neutral” rating and a $238.00 price objective for the company.

Insiders Place Their Bets

In other Snap-on news, CFO Aldo John Pagliari sold 6,607 shares of the stock in a transaction dated Tuesday, September 13th. The shares were sold at an average price of $220.04, for a total transaction of $1,453,804.28. Following the completion of the transaction, the chief financial officer now owns 73,114 shares of the company’s stock, valued at $16,088,004.56. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other news, CFO Aldo John Pagliari sold 6,607 shares of the stock in a transaction dated Tuesday, September 13th. The shares were sold at an average price of $220.04, for a total transaction of $1,453,804.28. Following the sale, the chief financial officer now owns 73,114 shares of the company’s stock, valued at $16,088,004.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Jesus Arregui sold 488 shares of the stock in a transaction dated Friday, August 5th. The stock was sold at an average price of $223.31, for a total transaction of $108,975.28. Following the sale, the senior vice president now directly owns 2,409 shares in the company, valued at approximately $537,953.79. The disclosure for this sale can be found here. 4.30% of the stock is currently owned by insiders.

Snap-on Trading Up 2.4 %

Shares of SNA stock opened at $220.72 on Tuesday. The company has a debt-to-equity ratio of 0.27, a current ratio of 3.28 and a quick ratio of 2.37. The firm has a market cap of $11.76 billion, a PE ratio of 13.85, a price-to-earnings-growth ratio of 1.70 and a beta of 1.11. The company has a 50-day moving average of $218.92 and a two-hundred day moving average of $213.63. Snap-on Incorporated has a 1-year low of $190.08 and a 1-year high of $235.36.

Snap-on (NYSE:SNAGet Rating) last announced its earnings results on Thursday, July 21st. The company reported $4.27 earnings per share for the quarter, topping the consensus estimate of $3.91 by $0.36. The company had revenue of $1.14 billion during the quarter, compared to analyst estimates of $1.10 billion. Snap-on had a net margin of 19.83% and a return on equity of 20.51%. Snap-on’s revenue was up 5.1% compared to the same quarter last year. During the same quarter last year, the firm posted $3.76 earnings per share. On average, analysts predict that Snap-on Incorporated will post 16.14 EPS for the current year.

Snap-on Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, September 9th. Shareholders of record on Friday, August 19th were paid a dividend of $1.42 per share. This represents a $5.68 annualized dividend and a yield of 2.57%. The ex-dividend date of this dividend was Thursday, August 18th. Snap-on’s dividend payout ratio (DPR) is presently 35.63%.

Snap-on Profile

(Get Rating)

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.

See Also

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Institutional Ownership by Quarter for Snap-on (NYSE:SNA)

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