Ossiam Has $11.34 Million Stake in Snap-on Incorporated (NYSE:SNA)

Ossiam grew its position in shares of Snap-on Incorporated (NYSE:SNA - Free Report) by 931.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 33,392 shares of the company's stock after purchasing an additional 30,154 shares during the period. Ossiam owned 0.06% of Snap-on worth $11,336,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Vanguard Group Inc. grew its stake in Snap-on by 0.3% in the 4th quarter. Vanguard Group Inc. now owns 6,404,599 shares of the company's stock worth $2,174,233,000 after acquiring an additional 19,328 shares during the period. First Trust Advisors LP grew its position in shares of Snap-on by 29.2% in the fourth quarter. First Trust Advisors LP now owns 1,819,403 shares of the company's stock valued at $617,651,000 after purchasing an additional 411,317 shares during the period. Charles Schwab Investment Management Inc. increased its stake 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 last quarter. Geode Capital Management LLC lifted its position in Snap-on by 1.7% during the fourth quarter. Geode Capital Management LLC now owns 1,641,159 shares of the company's stock worth $556,022,000 after buying an additional 27,700 shares during the period. Finally, Nordea Investment Management AB boosted its stake in Snap-on by 12.8% in the 4th quarter. Nordea Investment Management AB now owns 1,128,317 shares of the company's stock worth $384,813,000 after buying an additional 127,859 shares during the last quarter. 84.88% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on SNA. Robert W. Baird cut their price objective on shares of Snap-on from $349.00 to $320.00 and set a "neutral" rating on the stock in a report on Monday. Tigress Financial lifted their price target on shares of Snap-on from $385.00 to $390.00 and gave the company a "buy" rating in a report on Tuesday, March 4th. Longbow Research upgraded Snap-on from a "neutral" rating to a "buy" rating and set a $400.00 price objective for the company in a report on Monday, March 31st. Barrington Research reiterated an "outperform" rating and issued a $350.00 target price on shares of Snap-on in a report on Thursday, April 17th. Finally, StockNews.com downgraded Snap-on from a "buy" rating to a "hold" rating in a report on Friday, April 18th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $350.83.

Snap-on Stock Up 1.7 %

Snap-on stock traded up $5.26 during midday trading on Thursday, hitting $309.81. 163,566 shares of the company were exchanged, compared to its average volume of 356,329. The company has a market cap of $16.24 billion, a PE ratio of 15.87, a price-to-earnings-growth ratio of 2.21 and a beta of 0.84. Snap-on Incorporated has a fifty-two week low of $252.98 and a fifty-two week high of $373.90. The company's fifty day moving average price is $329.37 and its 200-day moving average price is $337.90. The company has a debt-to-equity ratio of 0.22, a current ratio of 4.15 and a quick ratio of 3.17.

Snap-on (NYSE:SNA - Get Free Report) last issued its quarterly earnings results on Thursday, April 17th. The company reported $4.51 earnings per share for the quarter, missing analysts' consensus estimates of $4.81 by ($0.30). The firm had revenue of $1.14 billion during the quarter, compared to the consensus estimate of $1.20 billion. Snap-on had a net margin of 21.71% and a return on equity of 19.20%. During the same quarter last year, the firm posted $4.91 earnings per share. On average, research analysts predict that Snap-on Incorporated will post 19.79 EPS for the current fiscal year.

Snap-on Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Monday, February 24th were issued a $2.14 dividend. This represents a $8.56 annualized dividend and a yield of 2.76%. The ex-dividend date of this dividend was Monday, February 24th. Snap-on's payout ratio is currently 44.82%.

Insider Buying and Selling

In other Snap-on news, SVP Jesus Arregui sold 6,451 shares of Snap-on stock in a transaction that occurred on 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 transaction, the senior vice president now directly owns 257 shares in the company, valued at approximately $86,817.17. The trade was a 96.17 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 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 sale, the chief executive officer now owns 793,932 shares of the company's stock, valued at $266,221,278.24. The trade was a 2.78 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 36,011 shares of company stock valued at $12,116,859 over the last quarter. Corporate insiders own 3.90% of the company's stock.

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.