Prudential Financial Inc. Reduces Stock Holdings in Snap-on Incorporated (NYSE:SNA)

Prudential Financial Inc. cut its position in shares of Snap-on Incorporated (NYSE:SNA - Free Report) by 43.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 27,508 shares of the company's stock after selling 21,087 shares during the period. Prudential Financial Inc. owned approximately 0.05% of Snap-on worth $9,338,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of SNA. Vanguard Group Inc. raised its position in shares of Snap-on by 0.3% during the 4th quarter. Vanguard Group Inc. now owns 6,404,599 shares of the company's stock valued at $2,174,233,000 after buying an additional 19,328 shares during the period. State Street Corp increased its stake in Snap-on by 0.5% during the third quarter. State Street Corp now owns 2,115,973 shares of the company's stock worth $613,019,000 after acquiring an additional 10,645 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in Snap-on by 4.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,806,278 shares of the company's stock valued at $613,195,000 after purchasing an additional 77,486 shares during the period. Geode Capital Management LLC lifted its stake in shares of Snap-on by 4.5% in the 3rd quarter. Geode Capital Management LLC now owns 1,613,459 shares of the company's stock valued at $466,199,000 after purchasing an additional 69,590 shares during the last quarter. Finally, Nordea Investment Management AB grew its holdings in shares of Snap-on by 12.8% during the 4th quarter. Nordea Investment Management AB now owns 1,128,317 shares of the company's stock worth $384,813,000 after purchasing an additional 127,859 shares during the period. 84.88% of the stock is currently owned by institutional investors and hedge funds.

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Analyst Upgrades and Downgrades

A number of research firms have commented on SNA. Tigress Financial upped their target price on shares of Snap-on from $385.00 to $390.00 and gave the company a "buy" rating in a research report on Tuesday, March 4th. Longbow Research upgraded shares of Snap-on from a "neutral" rating to a "buy" rating and set a $400.00 price objective on the stock in a report on Monday. Finally, Barrington Research reiterated an "outperform" rating and issued a $350.00 target price on shares of Snap-on in a report on Monday, February 10th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $355.33.

Insider Activity

In other news, CFO Aldo John Pagliari sold 6,860 shares of Snap-on stock in a transaction on 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 sale, 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Nicholas T. Pinchuk sold 22,700 shares of the stock in a transaction on 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 completion of the transaction, 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 position. The disclosure for this sale can be found here. In the last quarter, insiders sold 36,011 shares of company stock worth $12,116,859. 3.90% of the stock is currently owned by company insiders.

Snap-on Stock Up 0.3 %

SNA traded up $1.05 during trading hours on Wednesday, hitting $340.63. 141,563 shares of the company's stock were exchanged, compared to its average volume of 341,241. The firm has a market cap of $17.86 billion, a P/E ratio of 17.47, a price-to-earnings-growth ratio of 2.21 and a beta of 0.99. Snap-on Incorporated has a 12-month low of $252.98 and a 12-month high of $373.90. 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 firm has a 50 day moving average of $339.60 and a 200 day moving average of $334.75.

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

Snap-on Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Stockholders of record on Monday, February 24th were paid a $2.14 dividend. This represents a $8.56 annualized dividend and a dividend yield of 2.51%. The ex-dividend date of this dividend was Monday, February 24th. Snap-on's payout ratio is presently 43.90%.

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.