D. E. Shaw & Co. Inc. Sells 105,428 Shares of Snap-on Incorporated (NYSE:SNA)

D. E. Shaw & Co. Inc. trimmed its position in shares of Snap-on Incorporated (NYSE:SNA - Free Report) by 68.5% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 48,562 shares of the company's stock after selling 105,428 shares during the period. D. E. Shaw & Co. Inc. owned about 0.09% of Snap-on worth $16,486,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Deutsche Bank AG grew its position in Snap-on by 14.6% during the fourth quarter. Deutsche Bank AG now owns 213,326 shares of the company's stock valued at $72,420,000 after acquiring an additional 27,127 shares during the last quarter. CoreCap Advisors LLC boosted its stake in shares of Snap-on by 7.5% in the 4th quarter. CoreCap Advisors LLC now owns 930 shares of the company's stock valued at $316,000 after purchasing an additional 65 shares in the last quarter. Crestline Management LP bought a new position in shares of Snap-on during the 4th quarter valued at $681,000. Cetera Investment Advisers raised its position in Snap-on by 1.2% in the 4th quarter. Cetera Investment Advisers now owns 44,764 shares of the company's stock worth $15,197,000 after purchasing an additional 550 shares during the period. Finally, Captrust Financial Advisors lifted its stake in Snap-on by 14.4% in the fourth quarter. Captrust Financial Advisors now owns 9,999 shares of the company's stock worth $3,395,000 after purchasing an additional 1,261 shares during the last quarter. Institutional investors own 84.88% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on SNA. StockNews.com raised Snap-on from a "hold" rating to a "buy" rating in a research note on Wednesday, May 7th. Robert W. Baird reduced their price target 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. Tigress Financial lifted their price target on Snap-on from $385.00 to $390.00 and gave the stock a "buy" rating in a research note on Tuesday, March 4th. Barrington Research reissued an "outperform" rating and set a $350.00 price objective on shares of Snap-on in a research note on Thursday, April 17th. Finally, Longbow Research upgraded 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 research analyst has rated the stock with a sell rating, one has issued a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, Snap-on presently has a consensus rating of "Moderate Buy" and a consensus target price of $350.83.

Snap-on Stock Up 3.5%

Shares of NYSE:SNA opened at $326.76 on Tuesday. Snap-on Incorporated has a 1 year low of $252.98 and a 1 year high of $373.90. 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 stock's 50-day moving average is $323.23 and its 200 day moving average is $338.95. The company has a market cap of $17.09 billion, a PE ratio of 16.76, a P/E/G ratio of 2.21 and a beta of 0.78.

Snap-on (NYSE:SNA - Get Free Report) last posted its earnings results 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 business had revenue of $1.14 billion for the quarter, compared to analysts' expectations of $1.20 billion. During the same period last year, the firm posted $4.91 earnings per share. Sell-side analysts anticipate that Snap-on Incorporated will post 19.79 EPS for the current year.

Snap-on Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Tuesday, May 20th will be issued a $2.14 dividend. The ex-dividend date is Tuesday, May 20th. This represents a $8.56 annualized dividend and a yield of 2.62%. Snap-on's dividend payout ratio (DPR) is presently 44.82%.

Insider Transactions at Snap-on

In other news, CEO Nicholas T. Pinchuk sold 22,700 shares of the 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 transaction, the chief executive officer now owns 793,932 shares of the company's stock, valued at approximately $266,221,278.24. This represents a 2.78% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Aldo John Pagliari sold 6,860 shares of the firm's stock in a transaction that occurred 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 completion of the transaction, the chief financial officer now owns 107,096 shares of the company's stock, valued at approximately $36,310,898.80. The trade was a 6.02% decrease in their position. The disclosure for this sale can be found here. 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.

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