Legal & General Group Plc Decreases Stock Position in Snap-on Incorporated (NYSE:SNA)

Legal & General Group Plc cut its holdings in shares of Snap-on Incorporated (NYSE:SNA - Free Report) by 17.1% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 392,070 shares of the company's stock after selling 80,856 shares during the period. Legal & General Group Plc owned 0.75% of Snap-on worth $133,100,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the business. Wellington Management Group LLP lifted its position in shares of Snap-on by 77.9% during the third quarter. Wellington Management Group LLP now owns 16,319 shares of the company's stock valued at $4,728,000 after buying an additional 7,148 shares during the last quarter. EP Wealth Advisors LLC raised its stake in shares of Snap-on by 101.3% during the 3rd quarter. EP Wealth Advisors LLC now owns 1,725 shares of the company's stock worth $500,000 after acquiring an additional 868 shares in the last quarter. Orion Portfolio Solutions LLC lifted its position in Snap-on by 15.2% during the third quarter. Orion Portfolio Solutions LLC now owns 6,848 shares of the company's stock valued at $1,984,000 after acquiring an additional 904 shares during the last quarter. Nomura Asset Management Co. Ltd. boosted its stake in Snap-on by 5.6% in the third quarter. Nomura Asset Management Co. Ltd. now owns 23,787 shares of the company's stock valued at $6,891,000 after acquiring an additional 1,251 shares in the last quarter. Finally, Barclays PLC grew its holdings in Snap-on by 1.8% in the third quarter. Barclays PLC now owns 100,262 shares of the company's stock worth $29,044,000 after purchasing an additional 1,803 shares during the last quarter. 84.88% of the stock is owned by hedge funds and other institutional investors.

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Insider Activity at Snap-on

In related news, CEO Nicholas T. Pinchuk sold 22,700 shares of Snap-on stock in a transaction dated 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 owns 793,932 shares in the company, valued at $266,221,278.24. The trade was a 2.78 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Jesus Arregui sold 6,451 shares of the firm's stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $337.81, for a total value of $2,179,212.31. Following the completion of the sale, the senior vice president now directly owns 257 shares in the company, 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. Over the last quarter, insiders have sold 36,011 shares of company stock worth $12,116,859. 3.90% of the stock is owned by company insiders.

Snap-on Stock Performance

Shares of NYSE:SNA traded down $0.94 during midday trading on Wednesday, reaching $336.13. The company's stock had a trading volume of 147,800 shares, compared to its average volume of 413,211. The firm has a market capitalization of $17.62 billion, a PE ratio of 17.24, a P/E/G ratio of 2.21 and a beta of 0.84. The stock has a fifty day moving average of $333.12 and a 200 day moving average of $337.49. Snap-on Incorporated has a twelve month low of $252.98 and a twelve month high of $373.89. 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 (NYSE:SNA - Get Free Report) last released its quarterly earnings data 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 quarter last year, the company posted $4.75 earnings per share. On average, equities analysts expect that Snap-on Incorporated will post 19.79 EPS for the current fiscal year.

Snap-on Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Monday, February 24th were paid a $2.14 dividend. This represents a $8.56 annualized dividend and a dividend yield of 2.55%. The ex-dividend date was Monday, February 24th. Snap-on's dividend payout ratio is currently 43.90%.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on SNA. Longbow Research upgraded Snap-on from a "neutral" rating to a "buy" rating and set a $400.00 price objective for the company in a report on Monday, March 31st. Robert W. Baird lowered their price target on Snap-on from $358.00 to $349.00 and set a "neutral" rating for the company in a report on Tuesday. Barrington Research reaffirmed an "outperform" rating and issued a $350.00 price objective on shares of Snap-on in a research report on Friday, April 11th. Finally, Tigress Financial boosted 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. One investment 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's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus 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.