Nordea Investment Management AB Increases Stake in Snap-on Incorporated (NYSE:SNA)

Nordea Investment Management AB raised its position in Snap-on Incorporated (NYSE:SNA) by 12.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,128,317 shares of the company’s stock after acquiring an additional 127,859 shares during the quarter. Nordea Investment Management AB’s holdings in Snap-on were worth $384,813,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Reston Wealth Management LLC purchased a new position in Snap-on in the third quarter valued at $30,000. Massmutual Trust Co. FSB ADV lifted its stake in Snap-on by 53.0% during the third quarter. Massmutual Trust Co. FSB ADV now owns 127 shares of the company’s stock worth $37,000 after purchasing an additional 44 shares during the last quarter. Brooklyn Investment Group acquired a new position in Snap-on in the third quarter valued at approximately $39,000. Quarry LP increased its stake in Snap-on by 244.7% in the second quarter. Quarry LP now owns 162 shares of the company’s stock valued at $42,000 after purchasing an additional 115 shares during the last quarter. Finally, nVerses Capital LLC acquired a new stake in Snap-on during the third quarter worth approximately $58,000. Institutional investors and hedge funds own 84.88% of the company’s stock.

Insider Buying and Selling

In other Snap-on news, CEO Nicholas T. Pinchuk sold 21,783 shares of Snap-on stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $354.83, for a total value of $7,729,261.89. Following the completion of the sale, the chief executive officer now directly owns 769,738 shares of the company’s stock, valued at approximately $273,126,134.54. The trade was a 2.75 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP June C. Lemerand sold 3,500 shares of the stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $362.86, for a total value of $1,270,010.00. Following the transaction, the vice president now directly owns 2,289 shares in the company, valued at approximately $830,586.54. This represents a 60.46 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 52,723 shares of company stock worth $18,029,670. 4.10% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several brokerages have recently issued reports on SNA. Bank of America upped their target price on shares of Snap-on from $255.00 to $280.00 and gave the company an “underperform” rating in a report on Friday, October 18th. Barrington Research upped their target price on Snap-on from $325.00 to $350.00 and gave the company an “outperform” rating in a research report on Thursday, October 17th. Robert W. Baird boosted their price objective on Snap-on from $290.00 to $347.00 and gave the company a “neutral” rating in a research note on Friday, October 18th. Tigress Financial raised their target price on shares of Snap-on from $336.00 to $385.00 and gave the stock a “buy” rating in a research report on Friday, October 25th. Finally, Roth Mkm upped their price target on shares of Snap-on from $324.00 to $365.00 and gave the company a “buy” rating in a research report on Tuesday, October 22nd. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $345.40.

Snap-on Stock Up 0.3 %

Shares of NYSE:SNA opened at $336.07 on Monday. Snap-on Incorporated has a fifty-two week low of $252.98 and a fifty-two week high of $373.89. The company has a quick ratio of 3.14, a current ratio of 4.18 and a debt-to-equity ratio of 0.22. The firm’s 50-day simple moving average is $351.29 and its 200-day simple moving average is $305.29. The company has a market cap of $17.65 billion, a price-to-earnings ratio of 17.30, a PEG ratio of 2.35 and a beta of 1.00.

Snap-on (NYSE:SNA) last announced its quarterly earnings results on Thursday, October 17th. The company reported $4.70 EPS for the quarter, topping the consensus estimate of $4.58 by $0.12. Snap-on had a return on equity of 19.44% and a net margin of 22.13%. The business had revenue of $1.15 billion for the quarter, compared to analyst estimates of $1.16 billion. As a group, equities research analysts predict that Snap-on Incorporated will post 19.05 earnings per share for the current year.

Snap-on Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Investors of record on Thursday, November 21st were paid a dividend of $2.14 per share. The ex-dividend date was Thursday, November 21st. This represents a $8.56 dividend on an annualized basis and a dividend yield of 2.55%. This is a positive change from Snap-on’s previous quarterly dividend of $1.86. Snap-on’s dividend payout ratio (DPR) is presently 44.06%.

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.