Russell Investments Group Ltd. Boosts Holdings in Snap-on Incorporated (NYSE:SNA)

Russell Investments Group Ltd. grew its stake in shares of Snap-on Incorporated (NYSE:SNA - Free Report) by 12.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 81,530 shares of the company's stock after acquiring an additional 8,817 shares during the period. Russell Investments Group Ltd. owned 0.16% of Snap-on worth $27,679,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. FMR LLC raised its position in shares of Snap-on by 16.3% in the third quarter. FMR LLC now owns 57,543 shares of the company's stock worth $16,671,000 after buying an additional 8,073 shares in the last quarter. Integrated Wealth Concepts LLC raised its stake in Snap-on by 220.7% in the third quarter. Integrated Wealth Concepts LLC now owns 2,716 shares of the company's stock valued at $787,000 after purchasing an additional 1,869 shares in the last quarter. Wellington Management Group LLP grew its stake in Snap-on by 77.9% in the 3rd quarter. Wellington Management Group LLP now owns 16,319 shares of the company's stock worth $4,728,000 after buying an additional 7,148 shares in the last quarter. EP Wealth Advisors LLC grew its stake in Snap-on by 101.3% in the 3rd quarter. EP Wealth Advisors LLC now owns 1,725 shares of the company's stock worth $500,000 after buying an additional 868 shares in the last quarter. Finally, National Bank of Canada FI raised its position in shares of Snap-on by 251.0% during the 3rd quarter. National Bank of Canada FI now owns 77,226 shares of the company's stock valued at $22,373,000 after buying an additional 55,223 shares in the last quarter. 84.88% of the stock is currently owned by hedge funds and other institutional investors.

Remove Ads

Insiders Place Their Bets

In related news, CEO Nicholas T. Pinchuk sold 22,700 shares of the company's stock in a transaction dated 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 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 SEC, which is available at this hyperlink. Also, SVP Jesus Arregui sold 6,451 shares of the firm's stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $337.81, for a total transaction of $2,179,212.31. Following the sale, the senior vice president now owns 257 shares of the company's stock, valued at approximately $86,817.17. This represents a 96.17 % decrease in their ownership of the stock. 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 corporate insiders.

Snap-on Stock Up 0.5 %

SNA traded up $1.83 during trading on Monday, reaching $338.00. The stock had a trading volume of 50,931 shares, compared to its average volume of 412,391. The company has a current ratio of 4.15, a quick ratio of 3.17 and a debt-to-equity ratio of 0.22. The company has a market capitalization of $17.72 billion, a price-to-earnings ratio of 17.33, a P/E/G ratio of 2.21 and a beta of 0.84. The stock's 50 day moving average is $333.58 and its two-hundred day moving average is $337.16. Snap-on Incorporated has a one year low of $252.98 and a one year high of $373.89.

Snap-on (NYSE:SNA - Get Free Report) last issued its quarterly earnings results on Thursday, February 6th. The company reported $4.82 earnings per share (EPS) for the quarter, beating 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 quarter in the previous year, the company posted $4.75 earnings per share. As a group, analysts expect that Snap-on Incorporated will post 19.79 earnings per share for the current year.

Snap-on Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Investors 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 2.53%. The ex-dividend date of this dividend was Monday, February 24th. Snap-on's dividend payout ratio (DPR) is presently 43.90%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. Longbow Research raised shares of 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. Barrington Research restated an "outperform" rating and issued a $350.00 target price on shares of Snap-on in a report on Friday. Finally, Tigress Financial lifted their price objective on Snap-on from $385.00 to $390.00 and gave the stock a "buy" rating in a research report on Tuesday, March 4th. One analyst has rated the stock with a sell rating, one has given a hold rating and four have issued a buy rating to the company. According to MarketBeat, Snap-on has an average rating of "Moderate Buy" and an average target price 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.