MML Investors Services LLC Buys 2,914 Shares of Snap-on Incorporated (NYSE:SNA)

MML Investors Services LLC increased its holdings in shares of Snap-on Incorporated (NYSE:SNA - Free Report) by 2.6% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 114,306 shares of the company's stock after purchasing an additional 2,914 shares during the quarter. MML Investors Services LLC owned 0.22% of Snap-on worth $38,805,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of SNA. UMB Bank n.a. raised its stake in shares of Snap-on by 70.5% during the fourth quarter. UMB Bank n.a. now owns 75 shares of the company's stock valued at $25,000 after purchasing an additional 31 shares during the period. SBI Securities Co. Ltd. purchased a new stake in Snap-on during the 4th quarter worth $26,000. Migdal Insurance & Financial Holdings Ltd. acquired a new position in Snap-on in the 4th quarter worth $28,000. CoreFirst Bank & Trust acquired a new stake in shares of Snap-on during the fourth quarter valued at about $40,000. Finally, TCTC Holdings LLC increased its position in shares of Snap-on by 41.3% during the fourth quarter. TCTC Holdings LLC now owns 147 shares of the company's stock worth $50,000 after acquiring an additional 43 shares during the last quarter. 84.88% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on SNA shares. Barrington Research restated an "outperform" rating and set a $350.00 price objective on shares of Snap-on in a research note on Thursday, April 17th. Robert W. Baird dropped their price target on shares of Snap-on from $349.00 to $320.00 and set a "neutral" rating for the company in a research note on Monday. Tigress Financial upped their price target on shares of Snap-on from $385.00 to $390.00 and gave the company a "buy" rating in a report on Tuesday, March 4th. Longbow Research upgraded Snap-on from a "neutral" rating to a "buy" rating and set a $400.00 price target for the company in a research note on Monday, March 31st. Finally, StockNews.com cut Snap-on from a "buy" rating to a "hold" rating in a research note on Friday, April 18th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $350.83.

Snap-on Trading Down 0.7 %

Shares of Snap-on stock traded down $2.10 during trading on Friday, hitting $308.64. The stock had a trading volume of 262,885 shares, compared to its average volume of 356,838. The stock has a 50 day simple moving average of $328.80 and a 200 day simple moving average of $338.07. The company has a market capitalization of $16.18 billion, a PE ratio of 15.83, a P/E/G ratio of 2.21 and a beta of 0.84. Snap-on Incorporated has a 1 year low of $252.98 and a 1 year high of $373.90. 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 issued its quarterly earnings data on Thursday, April 17th. The company reported $4.51 EPS for the quarter, missing analysts' consensus estimates of $4.81 by ($0.30). The company had revenue of $1.14 billion for the quarter, compared to analyst estimates of $1.20 billion. Snap-on had a net margin of 21.71% and a return on equity of 19.20%. During the same period in the prior year, the company posted $4.91 EPS. On average, research analysts expect that Snap-on Incorporated will post 19.79 EPS for the current fiscal year.

Snap-on Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Tuesday, May 20th will be paid a $2.14 dividend. This represents a $8.56 dividend on an annualized basis and a dividend yield of 2.77%. The ex-dividend date is Tuesday, May 20th. Snap-on's dividend payout ratio is 44.82%.

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 sale, the chief executive officer now directly owns 793,932 shares in the company, valued at $266,221,278.24. This trade represents a 2.78 % decrease in their ownership of the stock. The sale was disclosed in a document filed 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 shares were sold at an average price of $339.05, for a total value of $2,325,883.00. Following the completion of the transaction, the chief financial officer now directly owns 107,096 shares of the company's stock, valued at approximately $36,310,898.80. The trade was a 6.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 36,011 shares of company stock valued at $12,116,859 in the last 90 days. 3.90% of the stock is owned by corporate insiders.

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.