Sei Investments Co. Raises Stake in Snap-on Incorporated (NYSE:SNA)

Sei Investments Co. increased its position in shares of Snap-on Incorporated (NYSE:SNA - Free Report) by 7.0% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 361,400 shares of the company's stock after buying an additional 23,603 shares during the period. Sei Investments Co. owned 0.69% of Snap-on worth $122,691,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Raymond James Financial Inc. bought a new position in shares of Snap-on during the 4th quarter worth approximately $148,839,000. Proficio Capital Partners LLC bought a new position in Snap-on during the fourth quarter worth $57,738,000. Benjamin Edwards Inc. grew its holdings in Snap-on by 2,691.2% in the third quarter. Benjamin Edwards Inc. now owns 158,092 shares of the company's stock worth $45,810,000 after purchasing an additional 152,428 shares during the period. Nordea Investment Management AB increased its stake in Snap-on by 12.8% in the fourth 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 in the last quarter. Finally, Amundi raised its holdings in shares of Snap-on by 137.0% during the fourth quarter. Amundi now owns 201,207 shares of the company's stock valued at $68,039,000 after purchasing an additional 116,319 shares during the period. Institutional investors and hedge funds own 84.88% of the company's stock.

Snap-on Stock Down 0.6 %

SNA traded down $2.05 during midday trading on Thursday, reaching $335.40. 308,275 shares of the company were exchanged, compared to its average volume of 324,923. Snap-on Incorporated has a one year low of $252.98 and a one year high of $373.90. The company has a debt-to-equity ratio of 0.22, a quick ratio of 3.17 and a current ratio of 4.15. The company's fifty day moving average price is $340.71 and its 200 day moving average price is $332.73. The company has a market cap of $17.58 billion, a price-to-earnings ratio of 17.20, a price-to-earnings-growth ratio of 2.21 and a beta of 0.99.

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Snap-on (NYSE:SNA - Get Free Report) last issued its quarterly earnings data on Thursday, February 6th. The company reported $4.82 earnings per share for the quarter, beating the consensus estimate of $4.78 by $0.04. Snap-on had a return on equity of 19.20% and a net margin of 21.71%. During the same quarter in the previous year, the firm posted $4.75 EPS. As a group, analysts expect that Snap-on Incorporated will post 19.79 EPS for the current year.

Snap-on Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Monday, February 24th were paid a $2.14 dividend. The ex-dividend date of this dividend was Monday, February 24th. This represents a $8.56 annualized dividend and a yield of 2.55%. Snap-on's payout ratio is 43.90%.

Insider Buying and Selling at Snap-on

In other Snap-on news, CFO Aldo John Pagliari sold 6,860 shares of the stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $339.05, for a total transaction of $2,325,883.00. Following the completion of the transaction, the chief financial officer now owns 107,096 shares in the company, valued at $36,310,898.80. This trade represents a 6.02 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Nicholas T. Pinchuk sold 22,700 shares of the business'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 transaction 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 approximately $266,221,278.24. This trade represents a 2.78 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 36,011 shares of company stock valued at $12,116,859. Company insiders own 3.90% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the company. Barrington Research restated an "outperform" rating and issued a $350.00 target price on shares of Snap-on in a research note on Monday, February 10th. Tigress Financial upped their target price 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 research analyst has rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $346.40.

Snap-on 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.