DNB Asset Management AS Raises Stake in Snap-on Incorporated (NYSE:SNA)

DNB Asset Management AS raised its position in Snap-on Incorporated (NYSE:SNA) by 4.4% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 13,365 shares of the company’s stock after purchasing an additional 569 shares during the period. DNB Asset Management AS’s holdings in Snap-on were worth $3,493,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of SNA. Checchi Capital Advisers LLC increased its holdings in Snap-on by 2.0% in the fourth quarter. Checchi Capital Advisers LLC now owns 1,830 shares of the company’s stock valued at $529,000 after buying an additional 36 shares during the last quarter. Renasant Bank increased its holdings in shares of Snap-on by 2.3% in the 1st quarter. Renasant Bank now owns 1,592 shares of the company’s stock valued at $472,000 after acquiring an additional 36 shares during the last quarter. Phillips Wealth Planners LLC raised its position in shares of Snap-on by 3.8% during the 1st quarter. Phillips Wealth Planners LLC now owns 1,012 shares of the company’s stock worth $286,000 after acquiring an additional 37 shares in the last quarter. Czech National Bank lifted its stake in Snap-on by 0.4% during the first quarter. Czech National Bank now owns 9,286 shares of the company’s stock worth $2,751,000 after purchasing an additional 41 shares during the last quarter. Finally, Leavell Investment Management Inc. boosted its holdings in Snap-on by 2.9% in the first quarter. Leavell Investment Management Inc. now owns 1,585 shares of the company’s stock valued at $470,000 after purchasing an additional 45 shares in the last quarter. 84.88% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, CFO Aldo John Pagliari sold 5,978 shares of the stock in a transaction on Tuesday, May 21st. The stock was sold at an average price of $276.86, for a total transaction of $1,655,069.08. Following the completion of the sale, the chief financial officer now directly owns 97,699 shares of the company’s stock, valued at $27,048,945.14. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, CFO Aldo John Pagliari sold 5,978 shares of the firm’s stock in a transaction dated Tuesday, May 21st. The shares were sold at an average price of $276.86, for a total value of $1,655,069.08. Following the completion of the sale, the chief financial officer now owns 97,699 shares in the company, valued at $27,048,945.14. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Nicholas T. Pinchuk sold 24,220 shares of the business’s stock in a transaction that occurred on Tuesday, June 4th. The stock was sold at an average price of $266.80, for a total value of $6,461,896.00. Following the transaction, the chief executive officer now owns 750,663 shares in the company, valued at approximately $200,276,888.40. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 38,632 shares of company stock valued at $10,353,409. Company insiders own 4.10% of the company’s stock.

Snap-on Stock Up 0.4 %

Shares of NYSE:SNA opened at $272.36 on Wednesday. Snap-on Incorporated has a 1-year low of $249.84 and a 1-year high of $298.49. The company has a debt-to-equity ratio of 0.22, a current ratio of 4.06 and a quick ratio of 3.05. The stock has a market cap of $14.36 billion, a P/E ratio of 14.29, a P/E/G ratio of 1.92 and a beta of 0.98. The firm has a fifty day moving average price of $268.43 and a 200 day moving average price of $276.88.

Snap-on (NYSE:SNA) last announced its earnings results on Thursday, July 18th. The company reported $5.07 earnings per share for the quarter, topping the consensus estimate of $4.94 by $0.13. The business had revenue of $1.18 billion during the quarter, compared to the consensus estimate of $1.20 billion. Snap-on had a net margin of 21.90% and a return on equity of 19.90%. The business’s quarterly revenue was down 1.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $4.89 earnings per share. Sell-side analysts predict that Snap-on Incorporated will post 18.97 EPS for the current year.

Wall Street Analysts Forecast Growth

SNA has been the topic of a number of research analyst reports. Robert W. Baird cut their price objective on shares of Snap-on from $282.00 to $275.00 and set a “neutral” rating on the stock in a report on Friday, July 12th. Roth Mkm reissued a “buy” rating and issued a $324.00 price target on shares of Snap-on in a research report on Tuesday, July 16th. Barrington Research reaffirmed an “outperform” rating and set a $325.00 price objective on shares of Snap-on in a report on Tuesday, July 16th. Finally, Tigress Financial reissued a “buy” rating and issued a $336.00 target price on shares of Snap-on in a report on Thursday, July 25th. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $315.00.

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.