Snap-on Incorporated (NYSE:SNA) Shares Sold by Renaissance Technologies LLC

Renaissance Technologies LLC reduced its position in Snap-on Incorporated (NYSE:SNA - Free Report) by 34.7% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 101,900 shares of the company's stock after selling 54,100 shares during the quarter. Renaissance Technologies LLC owned 0.19% of Snap-on worth $34,593,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in SNA. Wellington Management Group LLP raised its stake 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 acquiring an additional 7,148 shares during the last quarter. Orion Portfolio Solutions LLC raised its holdings in Snap-on by 15.2% in the 3rd quarter. Orion Portfolio Solutions LLC now owns 6,848 shares of the company's stock worth $1,984,000 after acquiring an additional 904 shares during the last quarter. Nomura Asset Management Co. Ltd. boosted its holdings in shares of Snap-on by 5.6% during the 3rd 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 during the last quarter. Barclays PLC grew its holdings in shares of 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 acquiring an additional 1,803 shares during the period. Finally, Geode Capital Management LLC boosted its holdings in shares of Snap-on by 4.5% in the third quarter. Geode Capital Management LLC now owns 1,613,459 shares of the company's stock worth $466,199,000 after buying an additional 69,590 shares during the last quarter. 84.88% of the stock is owned by hedge funds and other institutional investors.

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Snap-on Stock Down 1.5 %

Shares of SNA stock traded down $5.07 on Wednesday, hitting $332.00. The stock had a trading volume of 585,608 shares, compared to its average volume of 352,236. The business has a 50 day moving average price of $333.12 and a 200 day moving average price of $337.49. The company has a quick ratio of 3.17, a current ratio of 4.15 and a debt-to-equity ratio of 0.22. The company has a market cap of $17.40 billion, a PE ratio of 17.03, a P/E/G ratio of 2.21 and a beta of 0.84. Snap-on Incorporated has a one year low of $252.98 and a one year high of $373.90.

Snap-on (NYSE:SNA - Get Free Report) last released its quarterly earnings results on Thursday, February 6th. The company reported $4.82 earnings per share (EPS) for the quarter, topping the consensus estimate 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 company earned $4.75 EPS. Research analysts anticipate that Snap-on Incorporated will post 19.79 earnings per share for the current fiscal year.

Snap-on Dividend Announcement

The business also recently disclosed 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. This represents a $8.56 dividend on an annualized basis and a yield of 2.58%. The ex-dividend date of this dividend was Monday, February 24th. Snap-on's dividend payout ratio is presently 43.90%.

Insider Activity at Snap-on

In other news, CFO Aldo John Pagliari sold 6,860 shares of the company's stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $339.05, for a total value of $2,325,883.00. Following the transaction, the chief financial officer now owns 107,096 shares of the company's stock, valued at $36,310,898.80. This represents a 6.02 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Jesus Arregui sold 6,451 shares of the stock in a transaction dated 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 approximately $86,817.17. This trade represents a 96.17 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 36,011 shares of company stock valued at $12,116,859. 3.90% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on SNA shares. Longbow Research raised shares of Snap-on from a "neutral" rating to a "buy" rating and set a $400.00 price target on the stock in a report on Monday, March 31st. Barrington Research reissued an "outperform" rating and issued a $350.00 target price on shares of Snap-on in a report on Friday, April 11th. Tigress Financial lifted their target price on Snap-on from $385.00 to $390.00 and gave the stock a "buy" rating in a report on Tuesday, March 4th. Finally, Robert W. Baird decreased their price objective on shares of Snap-on from $358.00 to $349.00 and set a "neutral" rating for the company in a research note on Tuesday. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target 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.