Kayne Anderson Rudnick Investment Management LLC Boosts Stock Position in Snap-on Incorporated (NYSE:SNA)

Kayne Anderson Rudnick Investment Management LLC raised its holdings in Snap-on Incorporated (NYSE:SNA - Free Report) by 72.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 15,419 shares of the company's stock after buying an additional 6,480 shares during the period. Kayne Anderson Rudnick Investment Management LLC's holdings in Snap-on were worth $5,234,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Greenleaf Trust lifted its position in shares of Snap-on by 3.1% in the fourth quarter. Greenleaf Trust now owns 1,013 shares of the company's stock valued at $344,000 after buying an additional 30 shares during the last quarter. UMB Bank n.a. raised its position in shares of Snap-on by 70.5% in the 4th quarter. UMB Bank n.a. now owns 75 shares of the company's stock valued at $25,000 after buying an additional 31 shares in the last quarter. WCM Investment Management LLC lifted its stake in Snap-on by 4.5% during the fourth quarter. WCM Investment Management LLC now owns 727 shares of the company's stock worth $247,000 after purchasing an additional 31 shares during the last quarter. New York Life Investment Management LLC boosted its stake in Snap-on by 0.4% in the fourth quarter. New York Life Investment Management LLC now owns 7,106 shares of the company's stock valued at $2,412,000 after buying an additional 31 shares in the last quarter. Finally, Inspire Advisors LLC grew its holdings in shares of Snap-on by 1.0% during the 4th quarter. Inspire Advisors LLC now owns 3,382 shares of the company's stock valued at $1,148,000 after purchasing an additional 34 shares during the last quarter. 84.88% of the stock is owned by institutional investors and hedge funds.

Snap-on Stock Performance

Snap-on stock traded up $6.11 during trading on Thursday, hitting $310.66. The stock had a trading volume of 343,744 shares, compared to its average volume of 357,214. Snap-on Incorporated has a 1 year low of $252.98 and a 1 year high of $373.90. 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 stock's 50 day moving average is $328.80 and its two-hundred day moving average is $338.07. The stock has a market cap of $16.28 billion, a price-to-earnings ratio of 15.93, a price-to-earnings-growth ratio of 2.21 and a beta of 0.84.

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

Snap-on Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Tuesday, May 20th will be given a dividend of $2.14 per share. This represents a $8.56 annualized dividend and a dividend yield of 2.76%. Snap-on's dividend payout ratio is presently 44.82%.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the company. Robert W. Baird reduced their price objective on Snap-on from $349.00 to $320.00 and set a "neutral" rating on the stock in a research report on Monday. Tigress Financial boosted their price objective on Snap-on from $385.00 to $390.00 and gave the company a "buy" rating in a research note 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 target for the company in a report on Monday, March 31st. Barrington Research reissued an "outperform" rating and issued a $350.00 price objective on shares of Snap-on in a research note on Thursday, April 17th. Finally, StockNews.com downgraded shares of Snap-on from a "buy" rating to a "hold" rating in a research report on Friday, April 18th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, Snap-on currently has a consensus rating of "Hold" and a consensus price target of $350.83.

Insider Transactions at Snap-on

In related news, CEO Nicholas T. Pinchuk sold 22,700 shares of the company'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 value of $7,611,764.00. Following the transaction, the chief executive officer now directly owns 793,932 shares in the company, valued at approximately $266,221,278.24. This represents a 2.78 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Aldo John Pagliari sold 6,860 shares of the firm's stock in a transaction that occurred 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 in the company, valued at $36,310,898.80. This represents a 6.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, 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.

About Snap-on

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.