Invesco Ltd. Acquires 1,979 Shares of Snap-on Incorporated (NYSE:SNA)

Invesco Ltd. boosted its position in Snap-on Incorporated (NYSE:SNA - Free Report) by 0.3% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 637,318 shares of the company's stock after acquiring an additional 1,979 shares during the period. Invesco Ltd. owned 1.21% of Snap-on worth $216,357,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Greenleaf Trust boosted its holdings in Snap-on by 3.1% in the 4th quarter. Greenleaf Trust now owns 1,013 shares of the company's stock worth $344,000 after buying an additional 30 shares during the period. UMB Bank n.a. boosted its holdings in shares of Snap-on by 70.5% in the fourth quarter. UMB Bank n.a. now owns 75 shares of the company's stock worth $25,000 after acquiring an additional 31 shares during the period. WCM Investment Management LLC grew its position in shares of Snap-on by 4.5% in the fourth quarter. WCM Investment Management LLC now owns 727 shares of the company's stock valued at $247,000 after purchasing an additional 31 shares in the last quarter. New York Life Investment Management LLC raised its stake in shares of Snap-on by 0.4% during the 4th quarter. New York Life Investment Management LLC now owns 7,106 shares of the company's stock valued at $2,412,000 after purchasing an additional 31 shares during the period. Finally, Inspire Advisors LLC boosted its stake in Snap-on by 1.0% in the 4th quarter. Inspire Advisors LLC now owns 3,382 shares of the company's stock worth $1,148,000 after purchasing an additional 34 shares during the period. Institutional investors own 84.88% of the company's stock.

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Insider Buying and Selling at Snap-on

In other news, SVP Jesus Arregui sold 6,451 shares of the stock in a transaction 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 transaction, the senior vice president now directly owns 257 shares of the company's stock, valued at $86,817.17. This represents a 96.17 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Nicholas T. Pinchuk sold 22,700 shares of the firm's stock in a transaction that occurred on Thursday, March 27th. The stock was sold at an average price of $335.32, for a total transaction 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 approximately $266,221,278.24. The trade was a 2.78 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 36,011 shares of company stock valued at $12,116,859. 3.90% of the stock is currently owned by company insiders.

Snap-on Trading Up 0.1 %

Shares of SNA traded up $0.42 during mid-day trading on Tuesday, reaching $337.31. The company's stock had a trading volume of 420,765 shares, compared to its average volume of 351,160. Snap-on Incorporated has a 52 week low of $252.98 and a 52 week high of $373.90. The stock has a market cap of $17.68 billion, a PE ratio of 17.30, a P/E/G ratio of 2.21 and a beta of 0.84. The company's fifty day moving average price is $333.12 and its two-hundred day moving average price is $337.49. The company has a current ratio of 4.15, a quick ratio of 3.17 and a debt-to-equity ratio of 0.22.

Snap-on (NYSE:SNA - Get Free Report) last released its earnings results on Thursday, February 6th. The company reported $4.82 earnings per share for the quarter, beating 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 last year, the firm posted $4.75 earnings per share. On average, analysts predict that Snap-on Incorporated will post 19.79 earnings per share for the current fiscal year.

Snap-on Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on SNA shares. Tigress Financial increased their price target on shares of Snap-on from $385.00 to $390.00 and gave the stock a "buy" rating in a report on Tuesday, March 4th. Robert W. Baird cut their price target on shares of Snap-on from $358.00 to $349.00 and set a "neutral" rating for the company in a report on Tuesday. Longbow Research upgraded Snap-on from a "neutral" rating to a "buy" rating and set a $400.00 price objective on the stock in a research report on Monday, March 31st. Finally, Barrington Research restated an "outperform" rating and set a $350.00 target price on shares of Snap-on in a research report on Friday. One 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's stock. According to MarketBeat, Snap-on presently has an average rating of "Moderate Buy" and an average target price of $355.67.

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.