Earnest Partners LLC Has $327.21 Million Position in Snap-on Incorporated (NYSE:SNA)

Earnest Partners LLC lifted its position in shares of Snap-on Incorporated (NYSE:SNA - Free Report) by 1.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 963,866 shares of the company's stock after purchasing an additional 18,209 shares during the period. Snap-on accounts for about 1.5% of Earnest Partners LLC's holdings, making the stock its 7th biggest position. Earnest Partners LLC owned approximately 1.84% of Snap-on worth $327,213,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in SNA. UMB Bank n.a. increased its holdings in Snap-on by 70.5% during the fourth quarter. UMB Bank n.a. now owns 75 shares of the company's stock worth $25,000 after buying an additional 31 shares during the last quarter. SBI Securities Co. Ltd. purchased a new stake in shares of Snap-on during the 4th quarter worth approximately $26,000. Migdal Insurance & Financial Holdings Ltd. bought a new stake in shares of Snap-on in the 4th quarter worth approximately $28,000. CoreFirst Bank & Trust purchased a new position in Snap-on in the fourth quarter valued at approximately $40,000. Finally, TCTC Holdings LLC lifted its stake in Snap-on by 41.3% in the fourth quarter. TCTC Holdings LLC now owns 147 shares of the company's stock valued at $50,000 after purchasing an additional 43 shares during the last quarter. 84.88% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on SNA. Barrington Research restated an "outperform" rating and issued a $350.00 target price on shares of Snap-on in a research note on Thursday, April 17th. StockNews.com cut Snap-on from a "buy" rating to a "hold" rating in a research note on Friday, April 18th. Tigress Financial increased their target price on shares of Snap-on from $385.00 to $390.00 and gave the stock a "buy" rating in a research report on Tuesday, March 4th. Robert W. Baird lowered their price target on shares of Snap-on from $349.00 to $320.00 and set a "neutral" rating on the stock in a research report on Monday, April 21st. Finally, Longbow Research raised shares of Snap-on from a "neutral" rating to a "buy" rating and set a $400.00 target price on the stock in a report on Monday, March 31st. One analyst has rated the stock with a sell rating, two have assigned a hold rating and four have issued a buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $350.83.

Insider Transactions at Snap-on

In other Snap-on news, CEO Nicholas T. Pinchuk sold 22,700 shares of the stock in a transaction that occurred on Thursday, March 27th. The shares were sold at an average price of $335.32, for a total transaction of $7,611,764.00. Following 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Jesus Arregui sold 6,451 shares of the business's stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $337.81, for a total transaction of $2,179,212.31. Following the completion of the sale, the senior vice president now owns 257 shares of the company's stock, valued at approximately $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 have sold 36,011 shares of company stock valued at $12,116,859 in the last quarter. Insiders own 3.90% of the company's stock.

Snap-on Stock Down 0.7 %

SNA opened at $308.64 on Friday. The company has a debt-to-equity ratio of 0.22, a current ratio of 4.15 and a quick ratio of 3.17. 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 $16.14 billion, a P/E ratio of 15.83, a price-to-earnings-growth ratio of 2.21 and a beta of 0.84. The company has a fifty day moving average price of $328.13 and a 200-day moving average price of $338.59.

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

Snap-on Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Tuesday, May 20th will be paid a $2.14 dividend. The ex-dividend date is Tuesday, May 20th. This represents a $8.56 dividend on an annualized basis and a yield of 2.77%. Snap-on's dividend payout ratio is presently 44.82%.

Snap-on 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.

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