Avanza Fonder AB Sells 93 Shares of Snap-on Incorporated (NYSE:SNA)

Avanza Fonder AB lessened its position in shares of Snap-on Incorporated (NYSE:SNA) by 1.6% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 5,611 shares of the company’s stock after selling 93 shares during the period. Avanza Fonder AB’s holdings in Snap-on were worth $1,920,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. SBI Securities Co. Ltd. bought a new position in Snap-on during the fourth quarter worth $26,000. CoreFirst Bank & Trust bought a new position in Snap-on during the fourth quarter worth $40,000. TCTC Holdings LLC grew its holdings in Snap-on by 41.3% in the fourth quarter. TCTC Holdings LLC now owns 147 shares of the company’s stock worth $50,000 after purchasing an additional 43 shares during the period. Mizuho Bank Ltd. acquired a new stake in Snap-on in the fourth quarter worth $61,000. Finally, Orion Capital Management LLC acquired a new stake in Snap-on in the fourth quarter worth $65,000. Institutional investors own 84.88% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the stock. Robert W. Baird reduced their price target on shares of Snap-on from $349.00 to $320.00 and set a “neutral” rating for the company in a report on Monday, April 21st. Wall Street Zen upgraded shares of Snap-on from a “hold” rating to a “buy” rating in a report on Friday, May 16th. Barrington Research restated an “outperform” rating and issued a $350.00 price target on shares of Snap-on in a report on Monday, May 19th. Longbow Research upgraded shares of Snap-on from a “neutral” rating to a “buy” rating and set a $400.00 price target for the company in a report on Monday, March 31st. Finally, Tigress Financial lifted their price objective on shares of Snap-on from $385.00 to $390.00 and gave the company a “buy” rating in a report on Tuesday, March 4th. One analyst has rated the stock with a sell rating, one has given a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $350.83.

Insiders Place Their Bets

In other news, Director Karen L. Daniel sold 1,090 shares of the business’s stock in a transaction that occurred on Thursday, June 5th. The shares were sold at an average price of $319.92, for a total value of $348,712.80. Following the sale, the director now owns 8,030 shares of the company’s stock, valued at $2,568,957.60. The trade was a 11.95% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Nicholas T. Pinchuk sold 23,172 shares of the business’s stock in a transaction that occurred on Monday, June 2nd. The shares were sold at an average price of $315.85, for a total transaction of $7,318,876.20. Following the completion of the sale, the chief executive officer now directly owns 804,510 shares in the company, valued at approximately $254,104,483.50. This trade represents a 2.80% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 52,515 shares of company stock valued at $17,094,296. Company insiders own 3.90% of the company’s stock.

Snap-on Stock Down 0.6%

SNA opened at $320.24 on Thursday. The company has a debt-to-equity ratio of 0.22, a current ratio of 4.15 and a quick ratio of 3.17. The company’s 50-day moving average is $318.98 and its 200 day moving average is $335.08. Snap-on Incorporated has a fifty-two week low of $252.98 and a fifty-two week high of $373.90. The firm has a market capitalization of $16.75 billion, a P/E ratio of 16.42, a PEG ratio of 2.21 and a beta of 0.78.

Snap-on (NYSE:SNA) last released its quarterly earnings results on Thursday, April 17th. The company reported $4.51 earnings per share for the quarter, missing analysts’ consensus estimates of $4.81 by ($0.30). Snap-on had a net margin of 21.71% and a return on equity of 19.20%. The firm had revenue of $1.14 billion for the quarter, compared to the consensus estimate of $1.20 billion. During the same period in the previous year, the business earned $4.91 earnings per share. Research analysts expect that Snap-on Incorporated will post 19.79 earnings per share for the current fiscal year.

Snap-on Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Tuesday, May 20th were given a $2.14 dividend. This represents a $8.56 annualized dividend and a yield of 2.67%. The ex-dividend date of this dividend was Tuesday, May 20th. Snap-on’s dividend payout ratio is 44.82%.

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.