Handelsbanken Fonder AB Decreases Stock Holdings in Snap-on Incorporated (NYSE:SNA)

Handelsbanken Fonder AB lowered its position in shares of Snap-on Incorporated (NYSE:SNA) by 11.8% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 46,466 shares of the company’s stock after selling 6,223 shares during the period. Handelsbanken Fonder AB owned approximately 0.09% of Snap-on worth $13,421,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Charles Schwab Investment Management Inc. increased its holdings in shares of Snap-on by 2.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,276,205 shares of the company’s stock worth $325,509,000 after buying an additional 26,260 shares during the last quarter. Nordea Investment Management AB increased its holdings in shares of Snap-on by 52.8% during the 4th quarter. Nordea Investment Management AB now owns 864,565 shares of the company’s stock worth $249,743,000 after buying an additional 298,727 shares during the last quarter. Northern Trust Corp increased its holdings in shares of Snap-on by 4.6% during the 3rd quarter. Northern Trust Corp now owns 834,148 shares of the company’s stock worth $212,758,000 after buying an additional 36,556 shares during the last quarter. Earnest Partners LLC increased its holdings in shares of Snap-on by 5.8% during the 3rd quarter. Earnest Partners LLC now owns 775,131 shares of the company’s stock worth $197,705,000 after buying an additional 42,701 shares during the last quarter. Finally, Envestnet Asset Management Inc. increased its holdings in shares of Snap-on by 25.1% during the 3rd quarter. Envestnet Asset Management Inc. now owns 738,473 shares of the company’s stock worth $188,355,000 after buying an additional 147,997 shares during the last quarter. Institutional investors and hedge funds own 84.88% of the company’s stock.

Snap-on Stock Performance

NYSE:SNA opened at $271.30 on Wednesday. The company has a fifty day simple moving average of $283.80 and a two-hundred day simple moving average of $278.68. The company has a market cap of $14.30 billion, a price-to-earnings ratio of 14.23, a price-to-earnings-growth ratio of 1.85 and a beta of 0.99. The company has a quick ratio of 2.83, a current ratio of 3.82 and a debt-to-equity ratio of 0.23. Snap-on Incorporated has a 52 week low of $247.68 and a 52 week high of $298.49.

Snap-on (NYSE:SNA) last released its quarterly earnings data on Thursday, April 18th. The company reported $4.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.66 by $0.09. The business 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 for the quarter was down .1% on a year-over-year basis. During the same period in the previous year, the company earned $4.60 EPS. As a group, equities analysts anticipate that Snap-on Incorporated will post 19.06 earnings per share for the current fiscal year.

Snap-on Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 11th. Stockholders of record on Monday, February 26th were given a dividend of $1.86 per share. The ex-dividend date was Friday, February 23rd. This represents a $7.44 annualized dividend and a dividend yield of 2.74%. Snap-on’s dividend payout ratio (DPR) is currently 39.03%.

Wall Street Analysts Forecast Growth

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

Insider Transactions at Snap-on

In related news, CEO Nicholas T. Pinchuk sold 23,514 shares of the business’s stock in a transaction 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 completion of the sale, the chief executive officer now directly owns 742,383 shares of the company’s stock, valued at $213,420,264.84. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, CEO Nicholas T. Pinchuk sold 23,514 shares of the business’s stock in a transaction 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 completion of the sale, the chief executive officer now directly owns 742,383 shares of the company’s stock, valued at $213,420,264.84. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CFO Aldo John Pagliari sold 7,522 shares of the business’s stock in a transaction on Tuesday, February 27th. The shares were sold at an average price of $271.94, for a total transaction of $2,045,532.68. Following the completion of the sale, the chief financial officer now directly owns 95,661 shares of the company’s stock, valued at $26,014,052.34. The disclosure for this sale can be found here. In the last three months, insiders sold 47,368 shares of company stock valued at $13,399,449. Insiders own 4.10% of the company’s stock.

Snap-on 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.