Nordea Investment Management AB Acquires 127,859 Shares of Snap-on Incorporated (NYSE:SNA)

Nordea Investment Management AB raised its stake in shares of Snap-on Incorporated (NYSE:SNA) by 12.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,128,317 shares of the company’s stock after acquiring an additional 127,859 shares during the quarter. Nordea Investment Management AB owned approximately 2.15% of Snap-on worth $384,813,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. Mawer Investment Management Ltd. boosted its stake in Snap-on by 234.7% in the second quarter. Mawer Investment Management Ltd. now owns 632,226 shares of the company’s stock valued at $165,258,000 after acquiring an additional 443,333 shares in the last quarter. Pacer Advisors Inc. boosted its position in shares of Snap-on by 51.2% in the 2nd quarter. Pacer Advisors Inc. now owns 829,471 shares of the company’s stock worth $216,815,000 after purchasing an additional 280,997 shares in the last quarter. Millennium Management LLC grew its stake in Snap-on by 1,786.4% during the 2nd quarter. Millennium Management LLC now owns 161,175 shares of the company’s stock worth $42,130,000 after buying an additional 152,631 shares during the last quarter. Benjamin Edwards Inc. boosted its holdings in Snap-on by 2,691.2% in the third quarter. Benjamin Edwards Inc. now owns 158,092 shares of the company’s stock worth $45,810,000 after acquiring an additional 152,428 shares in the last quarter. Finally, International Assets Investment Management LLC grew its stake in shares of Snap-on by 34,381.0% during the third quarter. International Assets Investment Management LLC now owns 130,338 shares of the company’s stock worth $37,760,000 after acquiring an additional 129,960 shares during the last quarter. 84.88% of the stock is currently owned by institutional investors.

Snap-on Trading Up 0.3 %

Shares of SNA stock opened at $336.07 on Monday. The company has a current ratio of 4.18, a quick ratio of 3.14 and a debt-to-equity ratio of 0.22. Snap-on Incorporated has a twelve month low of $252.98 and a twelve month high of $373.89. The company’s 50-day moving average price is $351.29 and its 200-day moving average price is $305.29. The stock 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 posted its quarterly earnings results on Thursday, October 17th. The company reported $4.70 earnings per share for the quarter, beating the consensus estimate of $4.58 by $0.12. The business had revenue of $1.15 billion during the quarter, compared to analysts’ expectations of $1.16 billion. Snap-on had a net margin of 22.13% and a return on equity of 19.44%. As a group, equities analysts predict that Snap-on Incorporated will post 19.05 earnings per share for the current year.

Snap-on Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Thursday, November 21st were given a $2.14 dividend. The ex-dividend date of this dividend was Thursday, November 21st. This represents a $8.56 dividend on an annualized basis and a yield of 2.55%. This is an increase from Snap-on’s previous quarterly dividend of $1.86. Snap-on’s payout ratio is currently 44.06%.

Insider Activity

In other Snap-on news, VP Richard Thomas Miller sold 1,750 shares of the business’s stock in a transaction dated Friday, October 18th. The shares were sold at an average price of $330.00, for a total transaction of $577,500.00. Following the sale, the vice president now directly owns 3,218 shares in the company, valued at $1,061,940. This represents a 35.23 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Iain Boyd sold 6,044 shares of the stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $298.99, for a total transaction of $1,807,095.56. Following the sale, the vice president now directly owns 10,493 shares in the company, valued at $3,137,302.07. This represents a 36.55 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 52,723 shares of company stock valued at $18,029,670 in the last quarter. Insiders own 4.10% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have weighed in on the stock. Tigress Financial boosted 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. Robert W. Baird lifted their price objective on shares of Snap-on from $290.00 to $347.00 and gave the company a “neutral” rating in a research note on Friday, October 18th. Barrington Research raised their target price on shares of Snap-on from $325.00 to $350.00 and gave the stock an “outperform” rating in a report on Thursday, October 17th. Bank of America boosted their price target on shares of Snap-on from $255.00 to $280.00 and gave the stock an “underperform” rating in a report on Friday, October 18th. Finally, Roth Mkm lifted their target price 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 given a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, Snap-on currently has a consensus rating of “Hold” and a consensus target price of $345.40.

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.