Brevan Howard Capital Management LP Has $1.13 Million Holdings in Snap-on Incorporated (NYSE:SNA)

Brevan Howard Capital Management LP lowered its position in Snap-on Incorporated (NYSE:SNA - Free Report) by 57.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,334 shares of the company's stock after selling 4,480 shares during the quarter. Brevan Howard Capital Management LP's holdings in Snap-on were worth $1,132,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. UMB Bank n.a. grew its holdings in shares of Snap-on by 70.5% during the fourth quarter. UMB Bank n.a. now owns 75 shares of the company's stock worth $25,000 after buying an additional 31 shares during the last quarter. SBI Securities Co. Ltd. acquired a new stake in shares of Snap-on in the 4th quarter worth approximately $26,000. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in Snap-on in the fourth quarter valued at $28,000. CoreFirst Bank & Trust purchased a new position in shares of Snap-on in the fourth quarter valued at $40,000. Finally, TCTC Holdings LLC raised its stake in shares of Snap-on by 41.3% during the 4th quarter. TCTC Holdings LLC now owns 147 shares of the company's stock worth $50,000 after buying an additional 43 shares during the last quarter. Institutional investors and hedge funds own 84.88% of the company's stock.

Snap-on Stock Performance

SNA traded down $1.32 during trading hours on Friday, hitting $315.63. 158,547 shares of the stock were exchanged, compared to its average volume of 361,067. 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 12 month low of $252.98 and a 12 month high of $373.90. The stock has a 50-day simple moving average of $323.38 and a 200-day simple moving average of $338.86. The stock has a market cap of $16.50 billion, a price-to-earnings ratio of 16.19, a price-to-earnings-growth ratio of 2.21 and a beta of 0.78.

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 (EPS) 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 analyst estimates 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 prior year, the firm earned $4.91 EPS. Analysts anticipate 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 will be paid on Tuesday, June 10th. Shareholders of record on Tuesday, May 20th will be paid a dividend of $2.14 per share. The ex-dividend date is Tuesday, May 20th. This represents a $8.56 annualized dividend and a yield of 2.71%. Snap-on's dividend payout ratio (DPR) is presently 44.82%.

Insider Buying and Selling

In other news, SVP Jesus Arregui sold 6,451 shares of the stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $337.81, for a total transaction of $2,179,212.31. Following the transaction, the senior vice president now owns 257 shares of the company's stock, valued at approximately $86,817.17. This represents a 96.17 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 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 sale, the chief executive officer now directly owns 793,932 shares of the company's stock, 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. Over the last three months, insiders sold 36,011 shares of company stock worth $12,116,859. 3.90% of the stock is owned by company insiders.

Analyst Ratings Changes

Several equities analysts have weighed in on the stock. StockNews.com upgraded shares of Snap-on from a "hold" rating to a "buy" rating in a report on Wednesday. Tigress Financial upped their target price 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 raised Snap-on from a "neutral" rating to a "buy" rating and set a $400.00 price target for the company in a research report on Monday, March 31st. 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, April 21st. Finally, Barrington Research reiterated an "outperform" rating and set a $350.00 price objective on shares of Snap-on in a research report on Thursday, April 17th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and five have assigned a buy rating to the company. According to MarketBeat, Snap-on presently has an average rating of "Moderate Buy" and a consensus target price of $350.83.

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.