Snap-on Incorporated (NYSE:SNA) Shares Sold by BI Asset Management Fondsmaeglerselskab A S

BI Asset Management Fondsmaeglerselskab A S trimmed its holdings in Snap-on Incorporated (NYSE:SNAFree Report) by 4.8% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 14,737 shares of the company’s stock after selling 739 shares during the quarter. BI Asset Management Fondsmaeglerselskab A S’s holdings in Snap-on were worth $4,365,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Scarborough Advisors LLC acquired a new position in Snap-on in the fourth quarter valued at $30,000. BKM Wealth Management LLC acquired a new position in Snap-on in the 4th quarter valued at about $33,000. Exchange Traded Concepts LLC acquired a new position in Snap-on in the 4th quarter valued at about $43,000. Orion Capital Management LLC purchased a new stake in Snap-on during the 3rd quarter valued at approximately $49,000. Finally, Fortitude Family Office LLC acquired a new stake in Snap-on during the 4th quarter worth approximately $49,000. Hedge funds and other institutional investors own 84.88% of the company’s stock.

Snap-on Price Performance

Shares of Snap-on stock traded up $2.47 during trading on Wednesday, reaching $258.58. The company’s stock had a trading volume of 49,804 shares, compared to its average volume of 295,828. The business has a 50 day moving average price of $268.66 and a 200-day moving average price of $278.41. The company has a market capitalization of $13.63 billion, a P/E ratio of 13.44, a price-to-earnings-growth ratio of 1.78 and a beta of 0.98. The company has a quick ratio of 2.83, a current ratio of 3.82 and a debt-to-equity ratio of 0.23. Snap-on Incorporated has a 12-month low of $249.84 and a 12-month high of $298.49.

Snap-on (NYSE:SNAGet Free Report) last issued its earnings results on Thursday, April 18th. The company reported $4.75 EPS for the quarter, topping the consensus estimate of $4.66 by $0.09. The company had revenue of $1.18 billion for the quarter, compared to analyst estimates of $1.20 billion. Snap-on had a net margin of 21.69% and a return on equity of 20.46%. The business’s revenue was down .1% on a year-over-year basis. During the same period in the previous year, the firm earned $4.60 EPS. As a group, sell-side analysts anticipate that Snap-on Incorporated will post 19.01 EPS for the current year.

Snap-on Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 10th. Shareholders of record on Monday, May 20th were given a dividend of $1.86 per share. The ex-dividend date was Friday, May 17th. This represents a $7.44 annualized dividend and a yield of 2.88%. Snap-on’s payout ratio is currently 39.03%.

Insider Buying and Selling at Snap-on

In other news, SVP Jesus Arregui sold 8,434 shares of the business’s stock in a transaction that occurred on Wednesday, May 29th. The stock was sold at an average price of $265.17, for a total transaction of $2,236,443.78. Following the sale, the senior vice president now owns 252 shares of the company’s stock, valued at approximately $66,822.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, SVP Jesus Arregui sold 8,434 shares of the firm’s stock in a transaction on Wednesday, May 29th. The stock was sold at an average price of $265.17, for a total value of $2,236,443.78. Following the completion of the transaction, the senior vice president now owns 252 shares in the company, valued at $66,822.84. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Nicholas T. Pinchuk sold 24,220 shares of the business’s stock in a transaction dated Tuesday, June 4th. The stock was sold at an average price of $266.80, for a total transaction of $6,461,896.00. Following the completion of the sale, the chief executive officer now owns 750,663 shares in the company, valued at $200,276,888.40. The disclosure for this sale can be found here. Over the last three months, insiders sold 38,632 shares of company stock valued at $10,353,409. Corporate insiders own 4.10% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on SNA. Robert W. Baird dropped their target price on Snap-on from $295.00 to $282.00 and set a “neutral” rating on the stock in a report on Friday, April 19th. Roth Mkm restated a “buy” rating and set a $324.00 price objective on shares of Snap-on in a research report on Thursday, April 18th. Finally, Barrington Research reaffirmed an “outperform” rating and issued a $325.00 target price on shares of Snap-on in a report on Wednesday, May 22nd. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $316.75.

Read Our Latest Stock Report on SNA

Snap-on Company Profile

(Free Report)

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.

See Also

Institutional Ownership by Quarter for Snap-on (NYSE:SNA)

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