Sterling Capital Management LLC Has $1.07 Million Stake in Snap-on Incorporated (NYSE:SNA)

Sterling Capital Management LLC increased its position in Snap-on Incorporated (NYSE:SNA - Free Report) by 54.2% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,154 shares of the company's stock after purchasing an additional 1,108 shares during the quarter. Sterling Capital Management LLC's holdings in Snap-on were worth $1,071,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently made changes to their positions in the company. Wellington Management Group LLP lifted its position in shares of 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 during the last quarter. Barclays PLC raised its position in shares of Snap-on by 1.8% during the 3rd quarter. Barclays PLC now owns 100,262 shares of the company's stock worth $29,044,000 after purchasing an additional 1,803 shares during the period. Pine Valley Investments Ltd Liability Co acquired a new position in Snap-on during the 3rd quarter valued at approximately $208,000. World Investment Advisors LLC acquired a new stake in Snap-on in the third quarter worth $19,291,000. Finally, Wilmington Savings Fund Society FSB grew its position in shares of Snap-on by 37.0% during the third quarter. Wilmington Savings Fund Society FSB now owns 5,097 shares of the company's stock worth $1,477,000 after acquiring an additional 1,377 shares during the last quarter. 84.88% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Snap-on news, CFO Aldo John Pagliari sold 6,860 shares of the 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 transaction, the chief financial officer now directly owns 107,096 shares of the company's stock, valued at $36,310,898.80. This represents a 6.02 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Nicholas T. Pinchuk sold 22,700 shares of the business's stock in a transaction dated Thursday, March 27th. The stock was 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 directly owns 793,932 shares of the company's stock, valued at $266,221,278.24. This represents a 2.78 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 36,011 shares of company stock worth $12,116,859 in the last 90 days. Company insiders own 3.90% of the company's stock.

Snap-on Price Performance

Shares of SNA traded down $26.84 during trading hours on Friday, hitting $305.16. 1,849,999 shares of the company were exchanged, compared to its average volume of 355,833. The company has a debt-to-equity ratio of 0.22, a current ratio of 4.15 and a quick ratio of 3.17. The company has a market capitalization of $16.00 billion, a PE ratio of 15.65, a PEG ratio of 2.21 and a beta of 0.84. The firm has a fifty day simple moving average of $331.66 and a 200-day simple moving average of $337.68. Snap-on Incorporated has a one year low of $252.98 and a one year high of $373.90.

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). Snap-on had a return on equity of 19.20% and a net margin of 21.71%. The company had revenue of $1.14 billion during the quarter, compared to analysts' expectations of $1.20 billion. During the same period in the prior year, the business posted $4.91 EPS. As a group, sell-side analysts predict that Snap-on Incorporated will post 19.79 earnings per share for the current year.

Snap-on Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Monday, February 24th were paid a dividend of $2.14 per share. The ex-dividend date was Monday, February 24th. This represents a $8.56 annualized dividend and a yield of 2.81%. Snap-on's dividend payout ratio (DPR) is presently 43.90%.

Analyst Upgrades and Downgrades

Several research firms have commented on SNA. Longbow Research upgraded shares of Snap-on from a "neutral" rating to a "buy" rating and set a $400.00 target price for the company in a research report on Monday, March 31st. Robert W. Baird lowered their target price on Snap-on from $358.00 to $349.00 and set a "neutral" rating on the stock in a research report on Tuesday. Barrington Research reissued an "outperform" rating and issued a $350.00 price target on shares of Snap-on in a research note on Thursday. Finally, Tigress Financial lifted their price objective on shares of Snap-on from $385.00 to $390.00 and gave the company a "buy" rating in a research note on Tuesday, March 4th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, Snap-on has a consensus rating of "Moderate Buy" and a consensus price target of $355.67.

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.