Martingale Asset Management L P Reduces Holdings in Snap-on Incorporated (NYSE:SNA)

Martingale Asset Management L P trimmed its stake in shares of Snap-on Incorporated (NYSE:SNA - Free Report) by 3.9% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 59,674 shares of the company's stock after selling 2,448 shares during the quarter. Martingale Asset Management L P owned 0.11% of Snap-on worth $20,258,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in SNA. Vanguard Group Inc. lifted its holdings in shares of Snap-on by 0.3% in the fourth quarter. Vanguard Group Inc. now owns 6,404,599 shares of the company's stock worth $2,174,233,000 after buying an additional 19,328 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in Snap-on by 4.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,806,278 shares of the company's stock worth $613,195,000 after acquiring an additional 77,486 shares during the period. Geode Capital Management LLC lifted its stake in Snap-on by 1.7% in the 4th quarter. Geode Capital Management LLC now owns 1,641,159 shares of the company's stock worth $556,022,000 after purchasing an additional 27,700 shares in the last quarter. Nordea Investment Management AB boosted its holdings in Snap-on by 12.8% in the 4th quarter. Nordea Investment Management AB now owns 1,128,317 shares of the company's stock valued at $384,813,000 after purchasing an additional 127,859 shares during the period. Finally, Envestnet Asset Management Inc. grew its position in shares of Snap-on by 2.1% during the 4th quarter. Envestnet Asset Management Inc. now owns 759,429 shares of the company's stock valued at $257,811,000 after purchasing an additional 15,591 shares in the last quarter. Hedge funds and other institutional investors own 84.88% of the company's stock.

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Snap-on Price Performance

Shares of NYSE SNA traded up $1.39 during trading hours on Monday, reaching $337.56. 69,589 shares of the stock traded hands, compared to its average volume of 412,692. The company's 50-day simple moving average is $333.58 and its two-hundred day simple moving average is $337.16. The company has a market capitalization of $17.69 billion, a P/E ratio of 17.31, a price-to-earnings-growth ratio of 2.21 and a beta of 0.84. Snap-on Incorporated has a 52-week low of $252.98 and a 52-week 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 announced its quarterly earnings data on Thursday, February 6th. The company reported $4.82 earnings per share 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 period last year, the business posted $4.75 earnings per share. Equities research analysts forecast that Snap-on Incorporated will post 19.79 EPS for the current year.

Snap-on Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Monday, February 24th were given a dividend of $2.14 per share. The ex-dividend date was Monday, February 24th. This represents a $8.56 annualized dividend and a yield of 2.54%. Snap-on's payout ratio is 43.90%.

Insider Activity

In other Snap-on news, SVP Jesus Arregui sold 6,451 shares of the business's stock in a transaction dated 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 transaction, the senior vice president now 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Nicholas T. Pinchuk sold 22,700 shares of the company's stock in a transaction that occurred on Thursday, March 27th. The shares were sold at an average price of $335.32, for a total value of $7,611,764.00. Following the transaction, the chief executive officer now directly owns 793,932 shares of the company's stock, valued at $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 three months, insiders have sold 36,011 shares of company stock valued at $12,116,859. 3.90% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

SNA has been the subject of several research analyst reports. Longbow Research raised Snap-on from a "neutral" rating to a "buy" rating and set a $400.00 price objective for the company in a research note on Monday, March 31st. Tigress Financial boosted their price objective on Snap-on from $385.00 to $390.00 and gave the stock a "buy" rating in a report on Tuesday, March 4th. Finally, Barrington Research reaffirmed an "outperform" rating and issued a $350.00 target price on shares of Snap-on in a research note on Friday. One research analyst has rated the stock with a sell rating, one has given a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $355.33.

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.