Pensionfund Sabic Has $1.13 Million Stock Position in Snap-on Incorporated (NYSE:SNA)

Pensionfund Sabic reduced its stake in Snap-on Incorporated (NYSE:SNA) by 11.4% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 3,900 shares of the company’s stock after selling 500 shares during the period. Pensionfund Sabic’s holdings in Snap-on were worth $1,130,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. Earnest Partners LLC boosted its position in Snap-on by 1.4% in the second quarter. Earnest Partners LLC now owns 942,743 shares of the company’s stock valued at $246,424,000 after buying an additional 13,033 shares in the last quarter. Nordea Investment Management AB grew its position in Snap-on by 3.2% during the 1st quarter. Nordea Investment Management AB now owns 891,994 shares of the company’s stock worth $265,217,000 after acquiring an additional 27,429 shares during the last quarter. Pacer Advisors Inc. increased its holdings in Snap-on by 51.2% during the 2nd quarter. Pacer Advisors Inc. now owns 829,471 shares of the company’s stock valued at $216,815,000 after purchasing an additional 280,997 shares in the last quarter. Dimensional Fund Advisors LP raised its position in Snap-on by 8.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 817,536 shares of the company’s stock valued at $213,686,000 after purchasing an additional 65,485 shares during the last quarter. Finally, Envestnet Asset Management Inc. boosted its stake in Snap-on by 0.4% in the second quarter. Envestnet Asset Management Inc. now owns 732,571 shares of the company’s stock worth $191,487,000 after purchasing an additional 2,616 shares in the last quarter. 84.88% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Snap-on

In other news, VP June C. Lemerand sold 1,186 shares of the company’s stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $283.97, for a total value of $336,788.42. Following the completion of the sale, the vice president now directly owns 2,283 shares of the company’s stock, valued at $648,303.51. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, VP June C. Lemerand sold 1,186 shares of the business’s stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $283.97, for a total transaction of $336,788.42. Following the completion of the transaction, the vice president now owns 2,283 shares in the company, valued at approximately $648,303.51. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Nicholas T. Pinchuk sold 24,145 shares of the company’s stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $268.95, for a total transaction of $6,493,797.75. Following the completion of the sale, the chief executive officer now directly owns 759,019 shares of the company’s stock, valued at $204,138,160.05. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 29,804 shares of company stock valued at $8,077,390. 4.10% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on SNA shares. Barrington Research restated an “outperform” rating and issued a $325.00 target price on shares of Snap-on in a research note on Friday, September 20th. Tigress Financial reaffirmed a “buy” rating and issued a $336.00 target price on shares of Snap-on in a research note on Thursday, July 25th. Roth Mkm reiterated a “buy” rating and set a $324.00 target price on shares of Snap-on in a research report on Tuesday, July 16th. Finally, Robert W. Baird lowered their price target on shares of Snap-on from $282.00 to $275.00 and set a “neutral” rating for the company in a report on Friday, July 12th.

Snap-on Stock Down 0.4 %

Shares of NYSE SNA opened at $286.31 on Friday. Snap-on Incorporated has a 1 year low of $249.84 and a 1 year high of $298.49. The firm’s 50-day moving average is $280.19 and its 200-day moving average is $276.30. The company has a current ratio of 4.06, a quick ratio of 3.05 and a debt-to-equity ratio of 0.22. The firm has a market capitalization of $15.08 billion, a PE ratio of 14.88, a price-to-earnings-growth ratio of 1.99 and a beta of 0.98.

Snap-on (NYSE:SNA) last announced its quarterly earnings data on Thursday, July 18th. The company reported $5.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.94 by $0.13. The firm had revenue of $1.18 billion for the quarter, compared to analysts’ expectations of $1.20 billion. Snap-on had a net margin of 21.90% and a return on equity of 19.90%. The business’s revenue for the quarter was down 1.0% on a year-over-year basis. During the same period last year, the firm earned $4.89 earnings per share. Equities analysts expect that Snap-on Incorporated will post 18.95 EPS for the current year.

Snap-on declared that its board has initiated a share repurchase plan on Thursday, August 8th that allows the company to repurchase $500.00 million in shares. This repurchase authorization allows the company to purchase up to 3.5% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s management believes its shares are undervalued.

Snap-on Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Monday, August 19th were issued a $1.86 dividend. The ex-dividend date was Monday, August 19th. This represents a $7.44 dividend on an annualized basis and a yield of 2.60%. Snap-on’s dividend payout ratio is presently 38.67%.

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.