Tower Research Capital LLC TRC Grows Stock Position in Snap-on Incorporated (NYSE:SNA)

Tower Research Capital LLC TRC lifted its position in shares of Snap-on Incorporated (NYSE:SNA - Free Report) by 57.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,719 shares of the company's stock after buying an additional 1,721 shares during the quarter. Tower Research Capital LLC TRC's holdings in Snap-on were worth $1,602,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the business. Vanguard Group Inc. increased 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 purchasing an additional 19,328 shares during the last quarter. First Trust Advisors LP raised 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 worth $617,651,000 after buying an additional 411,317 shares in the last quarter. Charles Schwab Investment Management Inc. raised 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 in the last quarter. Geode Capital Management LLC lifted its holdings in shares of Snap-on by 1.7% during the 4th quarter. Geode Capital Management LLC now owns 1,641,159 shares of the company's stock worth $556,022,000 after acquiring an additional 27,700 shares during the last quarter. Finally, Nordea Investment Management AB increased its position 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 valued at $384,813,000 after purchasing an additional 127,859 shares during the last quarter. 84.88% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

SNA has been the topic of several recent analyst reports. Tigress Financial raised their target price on Snap-on from $385.00 to $390.00 and gave the stock a "buy" rating in a research note on Tuesday, March 4th. StockNews.com cut Snap-on from a "buy" rating to a "hold" rating in a research report on Friday, April 18th. Robert W. Baird decreased their target price on shares of Snap-on from $349.00 to $320.00 and set a "neutral" rating for the company in a report on Monday, April 21st. Barrington Research reiterated an "outperform" rating and issued a $350.00 price objective on shares of Snap-on in a report on Thursday, April 17th. Finally, Longbow Research raised Snap-on from a "neutral" rating to a "buy" rating and set a $400.00 target price on the stock in a report on Monday, March 31st. One investment analyst has rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $350.83.

Snap-on Stock Down 0.7 %

NYSE SNA traded down $2.10 on Friday, hitting $308.64. The stock had a trading volume of 262,956 shares, compared to its average volume of 357,703. The business's fifty day moving average price is $328.13 and its 200 day moving average price is $338.59. The stock has a market cap of $16.14 billion, a price-to-earnings ratio of 15.83, a price-to-earnings-growth ratio of 2.21 and a beta of 0.84. 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 Incorporated has a 52-week low of $252.98 and a 52-week high of $373.90.

Snap-on (NYSE:SNA - Get Free Report) last released its quarterly earnings data 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 company had revenue of $1.14 billion for the quarter, compared to analysts' expectations 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 in the previous year, the business posted $4.91 EPS. Equities research analysts anticipate that Snap-on Incorporated will post 19.79 earnings per share for the current year.

Snap-on Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Tuesday, May 20th will be issued a $2.14 dividend. The ex-dividend date of this dividend is Tuesday, May 20th. This represents a $8.56 annualized dividend and a yield of 2.77%. Snap-on's dividend payout ratio (DPR) is currently 44.82%.

Insiders Place Their Bets

In related 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 value 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 trade represents a 6.02 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Nicholas T. Pinchuk sold 22,700 shares of Snap-on stock in a transaction 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 transaction, the chief executive officer now directly owns 793,932 shares in the company, valued at $266,221,278.24. The trade was a 2.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 36,011 shares of company stock worth $12,116,859 over the last ninety days. 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.