74,804 Shares in Snap-on Incorporated (NYSE:SNA) Purchased by KLP Kapitalforvaltning AS

KLP Kapitalforvaltning AS bought a new stake in Snap-on Incorporated (NYSE:SNA) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 74,804 shares of the company’s stock, valued at approximately $25,394,000. KLP Kapitalforvaltning AS owned approximately 0.14% of Snap-on at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the company. Pathstone Holdings LLC grew its position in shares of Snap-on by 5.5% in the third quarter. Pathstone Holdings LLC now owns 5,606 shares of the company’s stock valued at $1,624,000 after purchasing an additional 291 shares in the last quarter. B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in shares of Snap-on in the 3rd quarter worth $313,000. Commerce Bank raised its holdings in shares of Snap-on by 1.3% during the 3rd quarter. Commerce Bank now owns 3,234 shares of the company’s stock worth $937,000 after acquiring an additional 43 shares during the period. Eagle Asset Management Inc. boosted its position in shares of Snap-on by 25.2% during the 3rd quarter. Eagle Asset Management Inc. now owns 5,140 shares of the company’s stock valued at $1,489,000 after acquiring an additional 1,036 shares during the last quarter. Finally, Citigroup Inc. grew its holdings in shares of Snap-on by 15.3% in the third quarter. Citigroup Inc. now owns 180,879 shares of the company’s stock valued at $52,402,000 after purchasing an additional 24,047 shares during the period. 84.88% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, SVP Jesus Arregui sold 6,451 shares of the stock in a transaction on Monday, February 10th. The stock was sold at an average price of $337.81, for a total value of $2,179,212.31. Following the transaction, the senior vice president now directly owns 257 shares of the company’s stock, valued at approximately $86,817.17. This trade represents a 96.17 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Aldo John Pagliari sold 6,860 shares of the company’s stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $339.05, for a total value of $2,325,883.00. Following the sale, the chief financial officer now owns 107,096 shares of the company’s stock, valued at $36,310,898.80. This represents a 6.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 4.10% of the company’s stock.

Snap-on Price Performance

Shares of SNA opened at $327.59 on Friday. The stock’s 50 day moving average is $340.99 and its two-hundred day moving average is $331.41. The firm has a market capitalization of $17.17 billion, a PE ratio of 16.80, a P/E/G ratio of 2.21 and a beta of 0.99. 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 Incorporated has a twelve month low of $252.98 and a twelve month high of $373.90.

Snap-on (NYSE:SNA) last issued its quarterly earnings data on Thursday, February 6th. The company reported $4.82 EPS for the quarter, beating analysts’ consensus estimates of $4.78 by $0.04. Snap-on had a net margin of 21.71% and a return on equity of 19.20%. During the same period in the previous year, the business posted $4.75 EPS. Research analysts anticipate that Snap-on Incorporated will post 19.79 earnings per share for the current year.

Snap-on Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Monday, February 24th were paid a dividend of $2.14 per share. This represents a $8.56 dividend on an annualized basis and a dividend yield of 2.61%. The ex-dividend date of this dividend was Monday, February 24th. Snap-on’s dividend payout ratio is presently 43.90%.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on SNA shares. Barrington Research reaffirmed an “outperform” rating and set a $350.00 target price on shares of Snap-on in a research note on Monday, February 10th. Tigress Financial raised their price objective on Snap-on from $385.00 to $390.00 and gave the stock a “buy” rating in a research report on Tuesday, March 4th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, Snap-on has a consensus rating of “Hold” and an average price target of $346.40.

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.