Dividend Assets Capital LLC Has $1.56 Million Stock Holdings in Snap-on Incorporated (NYSE:SNA)

Dividend Assets Capital LLC lessened its stake in Snap-on Incorporated (NYSE:SNA - Free Report) by 17.2% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 4,641 shares of the company's stock after selling 967 shares during the period. Dividend Assets Capital LLC's holdings in Snap-on were worth $1,564,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in SNA. SBI Securities Co. Ltd. acquired a new position in Snap-on during the fourth quarter worth about $26,000. CoreFirst Bank & Trust acquired a new stake in Snap-on during the fourth quarter valued at approximately $40,000. TCTC Holdings LLC boosted its holdings in Snap-on by 41.3% during the fourth quarter. TCTC Holdings LLC now owns 147 shares of the company's stock worth $50,000 after buying an additional 43 shares in the last quarter. Mizuho Bank Ltd. acquired a new position in Snap-on in the fourth quarter worth approximately $61,000. Finally, Orion Capital Management LLC bought a new position in shares of Snap-on in the fourth quarter valued at $65,000. 84.88% of the stock is owned by institutional investors.

Analysts Set New Price Targets

SNA has been the topic of several recent analyst reports. Tigress Financial upped their price target on Snap-on from $385.00 to $390.00 and gave the company a "buy" rating in a research report on Tuesday, March 4th. Robert W. Baird cut their target price on shares of Snap-on from $349.00 to $320.00 and set a "neutral" rating for the company in a research report on Monday, April 21st. Barrington Research restated an "outperform" rating and set a $350.00 price target on shares of Snap-on in a report on Monday, May 19th. Longbow Research raised shares of Snap-on from a "neutral" rating to a "buy" rating and set a $400.00 price target on the stock in a research note on Monday, March 31st. Finally, Wall Street Zen raised Snap-on from a "hold" rating to a "buy" rating in a research report on Friday, May 16th. 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 stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $350.83.

Snap-on Stock Performance

NYSE:SNA traded down $1.86 during mid-day trading on Wednesday, hitting $320.24. 256,344 shares of the company's stock traded hands, compared to its average volume of 365,735. The firm has a market capitalization of $16.75 billion, a price-to-earnings ratio of 16.42, a price-to-earnings-growth ratio of 2.21 and a beta of 0.78. The firm has a 50 day moving average of $318.98 and a two-hundred day moving average of $335.08. The company has a current ratio of 4.15, a quick ratio of 3.17 and a debt-to-equity ratio of 0.22. Snap-on Incorporated has a 12 month low of $252.98 and a 12 month high of $373.90.

Snap-on (NYSE:SNA - Get Free Report) last released its earnings results 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 net margin of 21.71% and a return on equity of 19.20%. The company had revenue of $1.14 billion during the quarter, compared to the consensus estimate of $1.20 billion. During the same quarter in the previous year, the business posted $4.91 EPS. On average, equities analysts forecast that Snap-on Incorporated will post 19.79 earnings per share for the current fiscal year.

Snap-on Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Tuesday, May 20th were given a $2.14 dividend. This represents a $8.56 annualized dividend and a yield of 2.67%. The ex-dividend date of this dividend was Tuesday, May 20th. Snap-on's dividend payout ratio (DPR) is presently 44.82%.

Insiders Place Their Bets

In related news, CFO Aldo John Pagliari sold 5,553 shares of Snap-on stock in a transaction dated Thursday, May 15th. The shares were sold at an average price of $326.84, for a total transaction of $1,814,942.52. Following the completion of the transaction, the chief financial officer now directly owns 109,560 shares of the company's stock, valued at $35,808,590.40. This trade represents a 4.82% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Nicholas T. Pinchuk sold 22,700 shares of the business's stock in a transaction dated Thursday, March 27th. The shares were 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. This trade represents a 2.78% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 52,515 shares of company stock worth $17,094,296 over the last quarter. Company 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.