Snap-on Incorporated (NYSE:SNA) Shares Sold by Intech Investment Management LLC

Intech Investment Management LLC lowered its holdings in Snap-on Incorporated (NYSE:SNA - Free Report) by 55.4% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 26,262 shares of the company's stock after selling 32,600 shares during the quarter. Intech Investment Management LLC's holdings in Snap-on were worth $7,779,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of SNA. Nordea Investment Management AB boosted its position in Snap-on by 3.2% during the first quarter. Nordea Investment Management AB now owns 891,994 shares of the company's stock valued at $265,217,000 after purchasing an additional 27,429 shares in the last quarter. Dimensional Fund Advisors LP grew its position in shares of Snap-on by 0.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 773,087 shares of the company's stock worth $223,304,000 after buying an additional 3,449 shares during the last quarter. Envestnet Asset Management Inc. raised its stake in shares of Snap-on by 2.3% during the 4th quarter. Envestnet Asset Management Inc. now owns 755,445 shares of the company's stock worth $218,203,000 after acquiring an additional 16,972 shares in the last quarter. LSV Asset Management lifted its position in Snap-on by 0.5% during the first quarter. LSV Asset Management now owns 674,341 shares of the company's stock valued at $199,753,000 after acquiring an additional 3,535 shares during the last quarter. Finally, Confluence Investment Management LLC acquired a new stake in Snap-on in the first quarter valued at approximately $173,451,000. Hedge funds and other institutional investors own 84.88% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the company. Robert W. Baird decreased their price objective on Snap-on from $282.00 to $275.00 and set a "neutral" rating for the company in a report on Friday, July 12th. Roth Mkm reiterated a "buy" rating and issued a $324.00 price target on shares of Snap-on in a research note on Tuesday, July 16th. Finally, Barrington Research restated an "outperform" rating and set a $325.00 price target on shares of Snap-on in a research note on Tuesday, July 16th. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $315.00.

Insider Transactions at Snap-on

In other Snap-on news, CEO Nicholas T. Pinchuk sold 24,220 shares of the company's stock in a transaction on Tuesday, June 4th. The shares were sold at an average price of $266.80, for a total value of $6,461,896.00. Following the sale, the chief executive officer now directly owns 750,663 shares of the company's stock, valued at $200,276,888.40. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In related news, CEO Nicholas T. Pinchuk sold 24,220 shares of the firm's stock in a transaction on Tuesday, June 4th. The shares were sold at an average price of $266.80, for a total transaction of $6,461,896.00. Following the sale, the chief executive officer now owns 750,663 shares in the company, valued at $200,276,888.40. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, SVP Jesus Arregui sold 8,434 shares of the company's stock in a transaction dated Wednesday, May 29th. The stock was sold at an average price of $265.17, for a total transaction of $2,236,443.78. Following the completion of the transaction, the senior vice president now owns 252 shares of the company's stock, valued at approximately $66,822.84. The disclosure for this sale can be found here. Insiders have sold 38,632 shares of company stock worth $10,353,409 over the last 90 days. 4.10% of the stock is currently owned by company insiders.

Snap-on Stock Performance

SNA stock traded up $0.36 during midday trading on Friday, reaching $270.90. The stock had a trading volume of 421,094 shares, compared to its average volume of 379,449. The firm has a fifty day simple moving average of $268.08 and a two-hundred day simple moving average of $277.41. Snap-on Incorporated has a 52-week low of $249.84 and a 52-week high of $298.49. The company has a debt-to-equity ratio of 0.22, a quick ratio of 2.83 and a current ratio of 4.06. The stock has a market cap of $14.28 billion, a PE ratio of 14.21, a P/E/G ratio of 1.87 and a beta of 0.98.

Snap-on (NYSE:SNA - Get Free Report) last announced its quarterly earnings data on Thursday, July 18th. The company reported $5.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.94 by $0.13. The firm had revenue of $1.18 billion during the quarter, compared to analysts' expectations of $1.20 billion. Snap-on had a return on equity of 19.90% and a net margin of 21.90%. The company's revenue for the quarter was down 1.0% compared to the same quarter last year. During the same period last year, the business posted $4.89 earnings per share. As a group, equities research analysts anticipate that Snap-on Incorporated will post 19 EPS for the current year.

Snap-on Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 10th. Stockholders of record on Monday, May 20th were issued a $1.86 dividend. This represents a $7.44 annualized dividend and a dividend yield of 2.75%. The ex-dividend date of this dividend was Friday, May 17th. Snap-on's dividend payout ratio (DPR) is currently 39.03%.

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.