AQR Capital Management LLC Lowers Position in Snap-on Incorporated (NYSE:SNA)

AQR Capital Management LLC cut its stake in shares of Snap-on Incorporated (NYSE:SNA - Free Report) by 26.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 259,911 shares of the company's stock after selling 94,817 shares during the quarter. AQR Capital Management LLC owned approximately 0.49% of Snap-on worth $88,234,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the stock. Greenleaf Trust increased its stake 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 purchasing an additional 30 shares during the period. UMB Bank n.a. increased its holdings in shares of Snap-on by 70.5% during the 4th quarter. UMB Bank n.a. now owns 75 shares of the company's stock valued at $25,000 after acquiring an additional 31 shares during the last quarter. WCM Investment Management LLC lifted its holdings in Snap-on by 4.5% in the 4th 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 lifted its stake in shares of 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 worth $2,412,000 after buying an additional 31 shares during the last quarter. Finally, Inspire Advisors LLC grew its stake in shares of Snap-on by 1.0% in the fourth quarter. Inspire Advisors LLC now owns 3,382 shares of the company's stock worth $1,148,000 after acquiring an additional 34 shares during the last quarter. Institutional investors own 84.88% of the company's stock.

Insider Activity at Snap-on

In other Snap-on news, SVP Jesus Arregui sold 6,451 shares of the stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $337.81, for a total value of $2,179,212.31. Following the completion of the sale, the senior vice president now owns 257 shares in the company, valued at approximately $86,817.17. This trade represents a 96.17 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Nicholas T. Pinchuk sold 22,700 shares of the company's stock in a transaction that occurred on 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 owns 793,932 shares in the company, 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 sold 36,011 shares of company stock worth $12,116,859 in the last ninety days. 3.90% of the stock is owned by company insiders.

Snap-on Stock Down 0.5 %

NYSE:SNA traded down $1.47 on Tuesday, hitting $312.30. The stock had a trading volume of 74,883 shares, compared to its average volume of 357,928. The company has a quick ratio of 3.17, a current ratio of 4.15 and a debt-to-equity ratio of 0.22. Snap-on Incorporated has a 52 week low of $252.98 and a 52 week high of $373.90. The business's fifty day moving average is $325.00 and its 200 day moving average is $339.24. The company has a market cap of $16.33 billion, a PE ratio of 16.02, a P/E/G ratio of 2.21 and a beta of 0.84.

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

Snap-on Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Tuesday, May 20th will be paid a $2.14 dividend. This represents a $8.56 dividend on an annualized basis and a dividend yield of 2.74%. The ex-dividend date of this dividend is Tuesday, May 20th. Snap-on's dividend payout ratio (DPR) is presently 44.82%.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on SNA. StockNews.com downgraded shares of Snap-on from a "buy" rating to a "hold" rating in a research note on Friday, April 18th. Robert W. Baird decreased their price target on Snap-on from $349.00 to $320.00 and set a "neutral" rating for the company in a research note on Monday, April 21st. Tigress Financial boosted their target price on shares of Snap-on from $385.00 to $390.00 and gave the stock a "buy" rating in a report on Tuesday, March 4th. Barrington Research reiterated an "outperform" rating and issued a $350.00 price target on shares of Snap-on in a research note on Thursday, April 17th. Finally, Longbow Research raised shares of 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 assigned a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, Snap-on currently has a consensus rating of "Hold" and an average price target of $350.83.

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.