Franklin Resources Inc. Increases Stock Position in Snap-on Incorporated (NYSE:SNA)

Franklin Resources Inc. boosted its holdings in shares of Snap-on Incorporated (NYSE:SNA - Free Report) by 16.5% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 101,375 shares of the company's stock after buying an additional 14,349 shares during the quarter. Franklin Resources Inc. owned 0.19% of Snap-on worth $34,415,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the business. Bleakley Financial Group LLC acquired a new position in Snap-on in the fourth quarter valued at approximately $512,000. Vest Financial LLC raised its holdings in Snap-on by 2.4% in the 4th quarter. Vest Financial LLC now owns 102,987 shares of the company's stock worth $34,962,000 after purchasing an additional 2,460 shares during the period. Sanctuary Advisors LLC grew its holdings in Snap-on by 3.6% in the third quarter. Sanctuary Advisors LLC now owns 45,783 shares of the company's stock valued at $13,264,000 after purchasing an additional 1,605 shares during the period. World Investment Advisors LLC purchased a new stake in shares of Snap-on in the third quarter valued at approximately $19,291,000. Finally, Avanza Fonder AB purchased a new position in shares of Snap-on during the 4th quarter valued at approximately $1,936,000. 84.88% of the stock is currently owned by institutional investors and hedge funds.

Snap-on Stock Performance

NYSE:SNA traded down $11.29 during mid-day trading on Thursday, reaching $318.60. 58,628 shares of the stock were exchanged, compared to its average volume of 410,720. 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 Incorporated has a 1 year low of $252.98 and a 1 year high of $373.89. The company has a 50 day simple moving average of $334.56 and a 200-day simple moving average of $336.19. The stock has a market capitalization of $16.70 billion, a P/E ratio of 16.35, a P/E/G ratio of 2.21 and a beta of 0.84.

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Snap-on (NYSE:SNA - Get Free Report) last announced its earnings results on Thursday, February 6th. The company reported $4.82 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $4.78 by $0.04. Snap-on had a net margin of 21.71% and a return on equity of 19.20%. During the same quarter last year, the firm earned $4.75 EPS. Analysts anticipate 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 was paid on Monday, March 10th. Investors of record on Monday, February 24th were issued a dividend of $2.14 per share. This represents a $8.56 dividend on an annualized basis and a dividend yield of 2.69%. The ex-dividend date of this dividend was Monday, February 24th. Snap-on's dividend payout ratio is currently 43.90%.

Analysts Set New Price Targets

Several brokerages have recently issued reports on SNA. Longbow Research upgraded shares of Snap-on from a "neutral" rating to a "buy" rating and set a $400.00 target price on the stock in a research report on Monday, March 31st. Barrington Research reiterated an "outperform" rating and set a $350.00 price objective on shares of Snap-on in a research note on Monday, February 10th. Finally, Tigress Financial lifted their price target on Snap-on from $385.00 to $390.00 and gave the stock a "buy" rating in a research note on Tuesday, March 4th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, Snap-on currently has an average rating of "Moderate Buy" and an average price target of $355.33.

Insider Activity at Snap-on

In other Snap-on news, SVP Jesus Arregui sold 6,451 shares of the company's stock in a transaction on Monday, February 10th. The shares were sold at an average price of $337.81, for a total transaction of $2,179,212.31. Following the completion of the transaction, the senior vice president now owns 257 shares in the company, valued at approximately $86,817.17. This represents a 96.17 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Aldo John Pagliari sold 6,860 shares of the business's stock in a transaction dated 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 owns 107,096 shares in the company, valued at approximately $36,310,898.80. This trade represents a 6.02 % 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 worth $12,116,859 in the last quarter. Company insiders own 3.90% of the company's stock.

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.