Allstate Corp Acquires Shares of 1,550 Snap-on Incorporated (NYSE:SNA)

Allstate Corp acquired a new stake in Snap-on Incorporated (NYSE:SNA - Free Report) in the fourth quarter, according to its most recent filing with the SEC. The fund acquired 1,550 shares of the company's stock, valued at approximately $526,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of SNA. Brown Brothers Harriman & Co. increased its position in shares of Snap-on by 115.6% during the fourth quarter. Brown Brothers Harriman & Co. now owns 401 shares of the company's stock valued at $136,000 after buying an additional 215 shares during the period. DnB Asset Management AS grew its stake in Snap-on by 5.6% during the fourth quarter. DnB Asset Management AS now owns 14,257 shares of the company's stock valued at $4,840,000 after acquiring an additional 762 shares in the last quarter. Level Four Advisory Services LLC lifted its stake in Snap-on by 2.3% in the 4th quarter. Level Four Advisory Services LLC now owns 7,934 shares of the company's stock worth $2,694,000 after purchasing an additional 176 shares in the last quarter. denkapparat Operations GmbH bought a new position in Snap-on in the 4th quarter valued at $379,000. Finally, Orion Portfolio Solutions LLC grew its position in shares of Snap-on by 11.7% during the 4th quarter. Orion Portfolio Solutions LLC now owns 7,652 shares of the company's stock valued at $2,598,000 after purchasing an additional 804 shares in the last quarter. Institutional investors own 84.88% of the company's stock.

Snap-on Price Performance

Shares of SNA traded down $14.69 during midday trading on Thursday, reaching $327.51. The stock had a trading volume of 571,416 shares, compared to its average volume of 343,307. The company has a current ratio of 4.15, a quick ratio of 3.17 and a debt-to-equity ratio of 0.22. The company has a market capitalization of $17.17 billion, a price-to-earnings ratio of 16.80, a price-to-earnings-growth ratio of 2.21 and a beta of 0.99. The company's 50-day moving average is $338.95 and its 200 day moving average is $334.75. Snap-on Incorporated has a 12-month low of $252.98 and a 12-month high of $373.90.

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Snap-on (NYSE:SNA - Get Free Report) last issued its earnings results on Thursday, February 6th. The company reported $4.82 earnings per share (EPS) for the quarter, topping the consensus estimate 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 period last year, the company earned $4.75 earnings per share. On average, equities analysts predict that Snap-on Incorporated will post 19.79 EPS for the current fiscal year.

Snap-on Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Monday, February 24th were given a $2.14 dividend. This represents a $8.56 dividend on an annualized basis and a yield of 2.61%. The ex-dividend date was Monday, February 24th. Snap-on's payout ratio is presently 43.90%.

Insider Buying and Selling

In related news, CFO Aldo John Pagliari sold 6,860 shares of the firm's stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $339.05, for a total transaction of $2,325,883.00. Following the transaction, the chief financial officer now directly owns 107,096 shares in the company, valued at $36,310,898.80. This trade represents a 6.02 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Nicholas T. Pinchuk sold 22,700 shares of Snap-on stock in a transaction that occurred on Thursday, March 27th. The stock was 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 directly owns 793,932 shares in the company, valued at $266,221,278.24. This trade represents a 2.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 36,011 shares of company stock worth $12,116,859 in the last 90 days. 3.90% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on SNA shares. Tigress Financial lifted their price objective on Snap-on from $385.00 to $390.00 and gave the company a "buy" rating in a research note on Tuesday, March 4th. Longbow Research upgraded Snap-on from a "neutral" rating to a "buy" rating and set a $400.00 price target for the company in a research report on Monday. Finally, Barrington Research restated an "outperform" rating and issued a $350.00 price objective on shares of Snap-on in a research report on Monday, February 10th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, Snap-on currently has an average rating of "Moderate Buy" and a consensus target price of $355.33.

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.