Pensionfund Sabic Purchases 500 Shares of Snap-on Incorporated (NYSE:SNA)

Pensionfund Sabic grew its stake in shares of Snap-on Incorporated (NYSE:SNA) by 12.8% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 4,400 shares of the company’s stock after purchasing an additional 500 shares during the quarter. Pensionfund Sabic’s holdings in Snap-on were worth $1,494,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in SNA. Nordea Investment Management AB grew its stake in shares of Snap-on by 12.8% in the fourth quarter. Nordea Investment Management AB now owns 1,128,317 shares of the company’s stock valued at $384,813,000 after buying an additional 127,859 shares in the last quarter. GAMMA Investing LLC lifted its stake in Snap-on by 98.9% in the fourth quarter. GAMMA Investing LLC now owns 1,078 shares of the company’s stock valued at $366,000 after acquiring an additional 536 shares during the last quarter. Principal Financial Group Inc. grew its position in shares of Snap-on by 5.8% in the 3rd quarter. Principal Financial Group Inc. now owns 280,593 shares of the company’s stock valued at $81,289,000 after acquiring an additional 15,314 shares during the period. Franklin Resources Inc. raised its holdings in shares of Snap-on by 15.9% in the 3rd quarter. Franklin Resources Inc. now owns 87,026 shares of the company’s stock valued at $25,812,000 after purchasing an additional 11,970 shares during the period. Finally, Synovus Financial Corp lifted its stake in Snap-on by 4.5% in the 3rd quarter. Synovus Financial Corp now owns 4,179 shares of the company’s stock valued at $1,210,000 after purchasing an additional 180 shares during the last quarter. Institutional investors own 84.88% of the company’s stock.

Insider Activity

In other Snap-on news, SVP Thomas J. Ward sold 12,737 shares of the firm’s stock in a transaction on Monday, October 28th. The stock was sold at an average price of $333.21, for a total transaction of $4,244,095.77. Following the transaction, the senior vice president now owns 55,401 shares in the company, valued at $18,460,167.21. This trade represents a 18.69 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Nicholas T. Pinchuk sold 21,783 shares of the company’s stock in a transaction 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 sale, the chief executive officer now 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 ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 52,723 shares of company stock worth $18,029,670. Corporate insiders own 4.10% of the company’s stock.

Snap-on Stock Performance

SNA traded down $0.15 during trading on Monday, hitting $335.92. The stock had a trading volume of 31,935 shares, compared to its average volume of 233,542. The company has a debt-to-equity ratio of 0.22, a current ratio of 4.18 and a quick ratio of 3.14. The firm has a market cap of $17.64 billion, a price-to-earnings ratio of 17.29, a P/E/G ratio of 2.35 and a beta of 1.00. The company has a 50 day moving average price of $351.29 and a 200-day moving average price of $305.29. Snap-on Incorporated has a one year low of $252.98 and a one year high of $373.89.

Snap-on (NYSE:SNA) last released its quarterly earnings results on Thursday, October 17th. The company reported $4.70 EPS for the quarter, beating the consensus estimate of $4.58 by $0.12. Snap-on had a net margin of 22.13% and a return on equity of 19.44%. The business had revenue of $1.15 billion for the quarter, compared to the consensus estimate of $1.16 billion. As a group, research analysts predict that Snap-on Incorporated will post 19.05 EPS 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 dividend of $2.14 per share. This represents a $8.56 dividend on an annualized basis and a dividend yield of 2.55%. The ex-dividend date of this dividend was Thursday, November 21st. This is a positive change from Snap-on’s previous quarterly dividend of $1.86. Snap-on’s dividend payout ratio is presently 44.06%.

Analyst Upgrades and Downgrades

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

About Snap-on

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.