Alliancebernstein L.P. Acquires 4,919 Shares of Snap-on Incorporated (NYSE:SNA)

Alliancebernstein L.P. lifted its holdings in shares of Snap-on Incorporated (NYSE:SNA - Free Report) by 6.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 80,250 shares of the company's stock after purchasing an additional 4,919 shares during the quarter. Alliancebernstein L.P. owned approximately 0.15% of Snap-on worth $27,243,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of SNA. FMR LLC grew its holdings in Snap-on by 16.3% in the 3rd quarter. FMR LLC now owns 57,543 shares of the company's stock valued at $16,671,000 after buying an additional 8,073 shares during the last quarter. Public Sector Pension Investment Board grew its stake in shares of Snap-on by 14.8% in the third quarter. Public Sector Pension Investment Board now owns 2,329 shares of the company's stock worth $675,000 after acquiring an additional 300 shares during the last quarter. HighTower Advisors LLC grew its stake in shares of Snap-on by 3.8% in the third quarter. HighTower Advisors LLC now owns 48,220 shares of the company's stock worth $13,967,000 after acquiring an additional 1,779 shares during the last quarter. Integrated Wealth Concepts LLC increased its position in Snap-on by 220.7% during the third quarter. Integrated Wealth Concepts LLC now owns 2,716 shares of the company's stock worth $787,000 after acquiring an additional 1,869 shares during the period. Finally, Royal London Asset Management Ltd. boosted its holdings in Snap-on by 2.6% in the 3rd quarter. Royal London Asset Management Ltd. now owns 23,247 shares of the company's stock valued at $6,735,000 after purchasing an additional 597 shares during the period. Institutional investors own 84.88% of the company's stock.

Remove Ads

Insider Activity at Snap-on

In related news, CEO Nicholas T. Pinchuk sold 22,700 shares of the business's stock in a transaction that occurred on Thursday, March 27th. The shares were sold at an average price of $335.32, for a total value of $7,611,764.00. Following the completion of the transaction, the chief executive officer now owns 793,932 shares in the company, valued at $266,221,278.24. The trade was a 2.78 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Jesus Arregui sold 6,451 shares of the stock in a transaction on Monday, February 10th. The shares were sold at an average price of $337.81, for a total value of $2,179,212.31. Following the completion of the transaction, the senior vice president now owns 257 shares in the company, valued at $86,817.17. The trade was a 96.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 36,011 shares of company stock valued at $12,116,859 over the last ninety days. 3.90% of the stock is owned by insiders.

Snap-on Price Performance

SNA traded up $14.14 during midday trading on Friday, reaching $336.50. 611,209 shares of the company's stock were exchanged, compared to its average volume of 350,788. Snap-on Incorporated has a one year low of $252.98 and a one year high of $373.90. The firm has a market capitalization of $17.64 billion, a price-to-earnings ratio of 17.26, a price-to-earnings-growth ratio of 2.21 and a beta of 0.84. The business has a 50-day simple moving average of $333.58 and a two-hundred day simple moving average of $336.83. The company has a quick ratio of 3.17, a current ratio of 4.15 and a debt-to-equity ratio of 0.22.

Snap-on (NYSE:SNA - Get Free Report) last released its quarterly earnings results on Thursday, February 6th. The company reported $4.82 EPS for the quarter, topping analysts' consensus estimates of $4.78 by $0.04. Snap-on had a return on equity of 19.20% and a net margin of 21.71%. During the same quarter last year, the firm posted $4.75 EPS. As a group, research analysts predict that Snap-on Incorporated will post 19.79 EPS for the current year.

Snap-on Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Monday, February 24th were issued a $2.14 dividend. The ex-dividend date of this dividend was Monday, February 24th. This represents a $8.56 dividend on an annualized basis and a dividend yield of 2.54%. Snap-on's dividend payout ratio is 43.90%.

Wall Street Analyst Weigh In

Several research firms recently weighed in on SNA. Barrington Research reiterated an "outperform" rating and issued a $350.00 target price on shares of Snap-on in a research note on Friday. Longbow Research upgraded Snap-on from a "neutral" rating to a "buy" rating and set a $400.00 price objective for the company in a research report on Monday, March 31st. Finally, Tigress Financial boosted their price objective on Snap-on from $385.00 to $390.00 and gave the company a "buy" rating in a research report on Tuesday, March 4th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and four have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $355.33.

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.