Snap-on Incorporated (NYSE:SNA) Stake Decreased by Empowered Funds LLC

Empowered Funds LLC trimmed its position in Snap-on Incorporated (NYSE:SNA - Free Report) by 59.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 25,243 shares of the company's stock after selling 37,394 shares during the quarter. Empowered Funds LLC's holdings in Snap-on were worth $8,569,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Benjamin Edwards Inc. lifted its position in Snap-on by 2,691.2% during the third quarter. Benjamin Edwards Inc. now owns 158,092 shares of the company's stock valued at $45,810,000 after buying an additional 152,428 shares in the last quarter. International Assets Investment Management LLC raised its stake in shares of Snap-on by 34,381.0% in the 3rd quarter. International Assets Investment Management LLC now owns 130,338 shares of the company's stock valued at $37,760,000 after acquiring an additional 129,960 shares during the period. Nordea Investment Management AB lifted its holdings in shares of Snap-on by 12.8% during the 4th quarter. Nordea Investment Management AB now owns 1,128,317 shares of the company's stock valued at $384,813,000 after acquiring an additional 127,859 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec boosted its position in Snap-on by 45.4% during the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 257,450 shares of the company's stock worth $74,586,000 after purchasing an additional 80,421 shares during the period. Finally, Pacer Advisors Inc. raised its position in Snap-on by 9.4% in the third quarter. Pacer Advisors Inc. now owns 907,655 shares of the company's stock valued at $262,957,000 after purchasing an additional 78,184 shares during the period. 84.88% of the stock is owned by institutional investors and hedge funds.

Snap-on Stock Up 1.4 %

NYSE SNA traded up $4.84 during trading hours on Thursday, reaching $339.73. 294,503 shares of the company traded hands, compared to its average volume of 396,621. The company has a 50 day moving average of $345.73 and a two-hundred day moving average of $320.72. The stock has a market capitalization of $17.84 billion, a PE ratio of 17.42, a PEG ratio of 2.13 and a beta of 0.99. Snap-on Incorporated has a 12 month low of $252.98 and a 12 month high of $373.89. The company has a current ratio of 4.15, a quick ratio of 3.14 and a debt-to-equity ratio of 0.22.

Snap-on (NYSE:SNA - Get Free Report) last posted 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 period in the prior year, the business earned $4.75 earnings per share. As a group, equities analysts expect that Snap-on Incorporated will post 20.07 earnings per share for the current year.

Snap-on Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Monday, February 24th will be given a dividend of $2.14 per share. This represents a $8.56 annualized dividend and a dividend yield of 2.52%. Snap-on's dividend payout ratio is currently 43.90%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. Robert W. Baird upped their target price on Snap-on from $290.00 to $347.00 and gave the stock a "neutral" rating in a research report on Friday, October 18th. Bank of America increased their price objective on shares of Snap-on from $255.00 to $280.00 and gave the company an "underperform" rating in a research report on Friday, October 18th. Barrington Research reissued an "outperform" rating and set a $350.00 target price on shares of Snap-on in a research report on Monday. Roth Mkm raised their price target on shares of Snap-on from $324.00 to $365.00 and gave the company a "buy" rating in a report on Tuesday, October 22nd. Finally, Tigress Financial boosted their price objective on shares of Snap-on from $336.00 to $385.00 and gave the stock a "buy" rating in a report on Friday, October 25th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the company. According to data from MarketBeat, Snap-on presently has an average rating of "Hold" and a consensus target price of $345.40.

Insider Buying and Selling

In other news, VP June C. Lemerand sold 3,500 shares of the company's stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $362.86, for a total transaction of $1,270,010.00. Following the completion of the transaction, the vice president now directly owns 2,289 shares of the company's stock, valued at approximately $830,586.54. This represents a 60.46 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Nicholas T. Pinchuk sold 21,783 shares of the firm's stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $354.83, for a total value of $7,729,261.89. Following the completion of the sale, the chief executive officer now directly owns 769,738 shares in the company, valued at approximately $273,126,134.54. This trade represents a 2.75 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 38,643 shares of company stock worth $13,580,191 over the last ninety days. 4.10% of the stock is owned by insiders.

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.