Handelsbanken Fonder AB Has $12.94 Million Stock Holdings in Snap-on Incorporated (NYSE:SNA)

Handelsbanken Fonder AB lessened its position in Snap-on Incorporated (NYSE:SNA) by 7.0% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 38,123 shares of the company’s stock after selling 2,877 shares during the quarter. Handelsbanken Fonder AB owned approximately 0.07% of Snap-on worth $12,942,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Bleakley Financial Group LLC acquired a new stake in Snap-on in the 4th quarter valued at approximately $512,000. Vest Financial LLC grew its stake in Snap-on by 2.4% in the fourth quarter. Vest Financial LLC now owns 102,987 shares of the company’s stock valued at $34,962,000 after purchasing an additional 2,460 shares in the last quarter. Asset Management One Co. Ltd. grew its stake in Snap-on by 0.3% in the third quarter. Asset Management One Co. Ltd. now owns 19,896 shares of the company’s stock valued at $5,764,000 after purchasing an additional 67 shares in the last quarter. Sanctuary Advisors LLC grew its stake in Snap-on by 3.6% in the third quarter. Sanctuary Advisors LLC now owns 45,783 shares of the company’s stock valued at $13,264,000 after purchasing an additional 1,605 shares in the last quarter. Finally, World Investment Advisors LLC bought a new position in Snap-on in the third quarter valued at approximately $19,291,000. Institutional investors and hedge funds own 84.88% of the company’s stock.

Snap-on Stock Performance

Shares of NYSE SNA opened at $335.87 on Friday. The stock has a 50 day moving average of $343.79 and a 200-day moving average of $323.21. The company has a market capitalization of $17.60 billion, a P/E ratio of 17.22, a P/E/G ratio of 2.23 and a beta of 0.99. Snap-on Incorporated has a 12 month low of $252.98 and a 12 month high of $373.89. The company has a current ratio of 4.15, a quick ratio of 3.17 and a debt-to-equity ratio of 0.22.

Snap-on (NYSE:SNA) last released its quarterly earnings results on Thursday, February 6th. The company reported $4.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.78 by $0.04. Snap-on had a return on equity of 19.20% and a net margin of 21.71%. During the same period in the prior year, the firm posted $4.75 earnings per share. As a group, equities research analysts predict that Snap-on Incorporated will post 19.79 EPS for the current year.

Snap-on Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Monday, February 24th will be paid a $2.14 dividend. The ex-dividend date is Monday, February 24th. This represents a $8.56 annualized dividend and a yield of 2.55%. Snap-on’s dividend payout ratio (DPR) is presently 43.90%.

Insider Activity at Snap-on

In other Snap-on news, VP June C. Lemerand sold 3,500 shares of Snap-on 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 completion of the transaction, the vice president now directly owns 2,289 shares of the company’s stock, valued at $830,586.54. The trade was a 60.46 % decrease in their position. The sale 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 Snap-on 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 completion of the transaction, the chief executive officer now directly owns 769,738 shares of the company’s stock, valued at $273,126,134.54. This represents a 2.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 45,503 shares of company stock worth $15,906,074 in the last ninety days. 4.10% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on SNA shares. Tigress Financial raised their price target on Snap-on from $336.00 to $385.00 and gave the company a “buy” rating in a research note on Friday, October 25th. Barrington Research restated an “outperform” rating and issued a $350.00 price target on shares of Snap-on in a research note on Monday, February 10th. 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 MarketBeat.com, the stock has an average 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.