Ariel Investments LLC Has $13.68 Million Stock Position in Snap-on Incorporated (NYSE:SNA)

Ariel Investments LLC reduced its holdings in shares of Snap-on Incorporated (NYSE:SNA - Free Report) by 2.7% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 40,292 shares of the company's stock after selling 1,101 shares during the quarter. Ariel Investments LLC owned approximately 0.08% of Snap-on worth $13,678,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Itau Unibanco Holding S.A. boosted its holdings in shares of Snap-on by 136.7% in the 4th quarter. Itau Unibanco Holding S.A. now owns 3,908 shares of the company's stock valued at $1,327,000 after buying an additional 2,257 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec grew its holdings in shares of Snap-on by 28.5% during the fourth quarter. Caisse DE Depot ET Placement DU Quebec now owns 330,948 shares of the company's stock worth $112,350,000 after purchasing an additional 73,498 shares during the last quarter. Rehmann Capital Advisory Group increased its position in shares of Snap-on by 7.2% during the fourth quarter. Rehmann Capital Advisory Group now owns 1,213 shares of the company's stock worth $412,000 after purchasing an additional 81 shares in the last quarter. Voleon Capital Management LP purchased a new position in Snap-on during the 4th quarter worth approximately $331,000. Finally, Lido Advisors LLC lifted its stake in Snap-on by 81.5% in the fourth quarter. Lido Advisors LLC now owns 1,884 shares of the company's stock valued at $639,000 after buying an additional 846 shares during the last quarter. Hedge funds and other institutional investors own 84.88% of the company's stock.

Snap-on Price Performance

SNA stock traded up $6.14 during midday trading on Thursday, hitting $320.80. 117,912 shares of the stock were exchanged, compared to its average volume of 359,121. The company has a debt-to-equity ratio of 0.22, a quick ratio of 3.17 and a current ratio of 4.15. The stock has a market cap of $16.77 billion, a price-to-earnings ratio of 16.45, a PEG ratio of 2.21 and a beta of 0.78. Snap-on Incorporated has a fifty-two week low of $252.98 and a fifty-two week high of $373.90. The stock's 50-day moving average price is $323.98 and its 200-day moving average price is $338.88.

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 (EPS) for the quarter, missing the consensus estimate of $4.81 by ($0.30). Snap-on had a net margin of 21.71% and a return on equity of 19.20%. The firm had revenue of $1.14 billion for the quarter, compared to analysts' expectations of $1.20 billion. During the same period in the previous year, the company posted $4.91 EPS. Research analysts predict that Snap-on Incorporated will post 19.79 earnings per share for the current year.

Snap-on Announces Dividend

The company also recently announced 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. This represents a $8.56 dividend on an annualized basis and a yield of 2.67%. The ex-dividend date is Tuesday, May 20th. Snap-on's payout ratio is currently 44.82%.

Analysts Set New Price Targets

A number of research firms recently issued reports on SNA. Tigress Financial raised their price target on Snap-on from $385.00 to $390.00 and gave the stock a "buy" rating in a report on Tuesday, March 4th. StockNews.com upgraded shares of Snap-on from a "hold" rating to a "buy" rating in a research report on Wednesday. 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. 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. Finally, Robert W. Baird cut their target price 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. One analyst has rated the stock with a sell rating, one has assigned a hold rating and five have given a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $350.83.

Insider Buying and Selling at Snap-on

In related news, CFO Aldo John Pagliari sold 6,860 shares of the business's stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $339.05, for a total value of $2,325,883.00. Following the completion of the sale, the chief financial officer now directly owns 107,096 shares of the company's stock, valued at $36,310,898.80. The trade was a 6.02 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Nicholas T. Pinchuk sold 22,700 shares of the firm's stock in a transaction dated Thursday, March 27th. The stock was 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 owns 793,932 shares in the company, valued at approximately $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. Over the last 90 days, insiders sold 36,011 shares of company stock valued at $12,116,859. Company 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.