Livforsakringsbolaget Skandia Omsesidigt Cuts Holdings in Snap-on Incorporated (NYSE:SNA)

Livforsakringsbolaget Skandia Omsesidigt trimmed its position in Snap-on Incorporated (NYSE:SNA) by 9.4% in the second quarter, according to its most recent filing with the SEC. The institutional investor owned 25,900 shares of the company’s stock after selling 2,700 shares during the period. Snap-on comprises 0.8% of Livforsakringsbolaget Skandia Omsesidigt’s investment portfolio, making the stock its 28th biggest position. Livforsakringsbolaget Skandia Omsesidigt’s holdings in Snap-on were worth $7,464,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Carl Stuart Investment Advisor Inc. bought a new position in shares of Snap-on during the 1st quarter valued at approximately $208,645,000. Clear Street Markets LLC increased its stake in shares of Snap-on by 96.3% in the first quarter. Clear Street Markets LLC now owns 106 shares of the company’s stock worth $26,000 after purchasing an additional 52 shares in the last quarter. Ridgewood Investments LLC bought a new stake in shares of Snap-on in the first quarter valued at approximately $29,000. Parkside Financial Bank & Trust lifted its stake in shares of Snap-on by 57.3% during the 1st quarter. Parkside Financial Bank & Trust now owns 129 shares of the company’s stock valued at $27,000 after buying an additional 47 shares in the last quarter. Finally, Spire Wealth Management boosted its holdings in Snap-on by 50.0% in the 1st quarter. Spire Wealth Management now owns 144 shares of the company’s stock worth $36,000 after buying an additional 48 shares during the period. Hedge funds and other institutional investors own 83.90% of the company’s stock.

Snap-on Price Performance

Shares of Snap-on stock traded up $2.08 during trading on Thursday, hitting $263.14. 25,048 shares of the stock traded hands, compared to its average volume of 280,883. The firm’s fifty day moving average is $272.72 and its 200-day moving average is $261.17. The stock has a market cap of $13.92 billion, a price-to-earnings ratio of 14.46, a PEG ratio of 1.76 and a beta of 1.10. Snap-on Incorporated has a 52 week low of $200.75 and a 52 week high of $297.26. The company has a quick ratio of 2.58, a current ratio of 3.67 and a debt-to-equity ratio of 0.25.

Snap-on (NYSE:SNA) last issued its quarterly earnings results on Thursday, July 20th. The company reported $4.89 EPS for the quarter, beating analysts’ consensus estimates of $4.58 by $0.31. The business had revenue of $1.19 billion for the quarter, compared to analysts’ expectations of $1.19 billion. Snap-on had a net margin of 21.06% and a return on equity of 21.38%. The business’s quarterly revenue was up 4.8% on a year-over-year basis. During the same period last year, the business earned $4.27 earnings per share. Research analysts expect that Snap-on Incorporated will post 18.45 EPS for the current fiscal year.

Snap-on Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 11th. Shareholders of record on Friday, August 18th were given a dividend of $1.62 per share. The ex-dividend date was Thursday, August 17th. This represents a $6.48 annualized dividend and a yield of 2.46%. Snap-on’s payout ratio is 35.90%.

Insider Activity

In other news, SVP Timothy L. Chambers sold 4,598 shares of the business’s stock in a transaction dated Friday, June 30th. The stock was sold at an average price of $289.07, for a total value of $1,329,143.86. Following the completion of the sale, the senior vice president now owns 13,276 shares of the company’s stock, valued at approximately $3,837,693.32. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other Snap-on news, SVP Timothy L. Chambers sold 4,680 shares of the firm’s stock in a transaction on Tuesday, July 11th. The shares were sold at an average price of $289.29, for a total value of $1,353,877.20. Following the sale, the senior vice president now owns 12,998 shares of the company’s stock, valued at approximately $3,760,191.42. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, SVP Timothy L. Chambers sold 4,598 shares of the company’s stock in a transaction dated Friday, June 30th. The shares were sold at an average price of $289.07, for a total transaction of $1,329,143.86. Following the transaction, the senior vice president now directly owns 13,276 shares of the company’s stock, valued at $3,837,693.32. The disclosure for this sale can be found here. Over the last three months, insiders have sold 22,778 shares of company stock valued at $6,587,528. 4.20% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the company. Roth Mkm restated a “buy” rating and set a $324.00 target price on shares of Snap-on in a research report on Monday, August 14th. CL King assumed coverage on Snap-on in a report on Friday, July 7th. They set a “neutral” rating for the company. Roth Capital upgraded Snap-on from a “neutral” rating to a “buy” rating in a research report on Thursday, May 18th. Tigress Financial raised their price objective on shares of Snap-on from $302.00 to $328.00 in a research report on Wednesday, June 21st. Finally, StockNews.com assumed coverage on shares of Snap-on in a report on Thursday, August 17th. They set a “buy” rating on the stock. One research analyst has rated the stock with a sell rating, four have issued a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $296.83.

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.