Snap-on Incorporated (NYSE:SNA) Stock Position Reduced by Confluence Investment Management LLC

Confluence Investment Management LLC lessened its stake in shares of Snap-on Incorporated (NYSE:SNA - Free Report) by 3.9% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 509,863 shares of the company's stock after selling 20,582 shares during the period. Snap-on makes up about 2.5% of Confluence Investment Management LLC's portfolio, making the stock its 2nd biggest position. Confluence Investment Management LLC owned approximately 0.97% of Snap-on worth $171,829,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also bought and sold shares of SNA. Bleakley Financial Group LLC acquired a new stake in shares of Snap-on during the fourth quarter worth $512,000. Vest Financial LLC lifted its position in Snap-on by 2.4% during the 4th quarter. Vest Financial LLC now owns 102,987 shares of the company's stock worth $34,962,000 after acquiring an additional 2,460 shares during the period. Ethic Inc. grew its stake in Snap-on by 18.6% during the 4th quarter. Ethic Inc. now owns 9,212 shares of the company's stock valued at $3,127,000 after purchasing an additional 1,445 shares during the last quarter. Empirical Finance LLC increased its holdings in shares of Snap-on by 45.8% in the fourth quarter. Empirical Finance LLC now owns 5,906 shares of the company's stock valued at $2,005,000 after purchasing an additional 1,856 shares during the period. Finally, Advyzon Investment Management LLC purchased a new position in shares of Snap-on in the fourth quarter worth about $272,000. Institutional investors and hedge funds own 84.88% of the company's stock.

Snap-on Stock Performance

Shares of NYSE:SNA traded down $1.68 during trading on Friday, hitting $320.68. 631,514 shares of the stock traded hands, compared to its average volume of 364,508. The company has a quick ratio of 3.17, a current ratio of 4.15 and a debt-to-equity ratio of 0.22. The company has a fifty day moving average price of $321.01 and a two-hundred day moving average price of $337.23. Snap-on Incorporated has a 52-week low of $252.98 and a 52-week high of $373.90. The company has a market cap of $16.77 billion, a price-to-earnings ratio of 16.45, 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 EPS for the quarter, missing analysts' consensus estimates of $4.81 by ($0.30). The business 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 last year, the business earned $4.91 earnings per share. As a group, equities analysts predict that Snap-on Incorporated will post 19.79 EPS for the current year.

Snap-on Announces Dividend

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 given a $2.14 dividend. The ex-dividend date of this dividend is Tuesday, May 20th. This represents a $8.56 annualized dividend and a dividend yield of 2.67%. Snap-on's dividend payout ratio (DPR) is 44.82%.

Analyst Ratings Changes

A number of equities research analysts recently commented on SNA shares. 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 report on Tuesday, March 4th. Longbow Research raised shares of Snap-on from a "neutral" rating to a "buy" rating and set a $400.00 price objective on the stock in a report on Monday, March 31st. Wall Street Zen upgraded shares of Snap-on from a "hold" rating to a "buy" rating in a research note on Friday, May 16th. Barrington Research restated an "outperform" rating and set a $350.00 target price on shares of Snap-on in a research report on Monday, May 19th. Finally, Robert W. Baird lowered their price target on shares of Snap-on from $349.00 to $320.00 and set a "neutral" rating on the stock in a report on Monday, April 21st. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and five have given a buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $350.83.

Insider Transactions at Snap-on

In other news, 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 directly owns 793,932 shares in the company, valued at $266,221,278.24. This represents a 2.78% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Aldo John Pagliari sold 5,553 shares of the stock in a transaction that occurred on Thursday, May 15th. The shares were sold at an average price of $326.84, for a total value of $1,814,942.52. Following the completion of the sale, the chief financial officer now directly owns 109,560 shares of the company's stock, valued at approximately $35,808,590.40. This represents a 4.82% 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 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.