Edgestream Partners L.P. Buys Shares of 24,150 Snap-On Incorporated (NYSE:SNA)

Edgestream Partners L.P. purchased a new position in shares of Snap-On Incorporated (NYSE:SNA - Free Report) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 24,150 shares of the company's stock, valued at approximately $8,139,000.

A number of other large investors have also made changes to their positions in the stock. HighTower Advisors LLC boosted its position in shares of Snap-On by 2.1% in the 4th quarter. HighTower Advisors LLC now owns 49,226 shares of the company's stock worth $16,711,000 after buying an additional 1,006 shares in the last quarter. Sequoia Financial Advisors LLC raised its position in Snap-On by 8.6% during the fourth quarter. Sequoia Financial Advisors LLC now owns 835 shares of the company's stock worth $284,000 after acquiring an additional 66 shares during the last quarter. EverSource Wealth Advisors LLC lifted its holdings in shares of Snap-On by 53.7% in the fourth quarter. EverSource Wealth Advisors LLC now owns 229 shares of the company's stock valued at $78,000 after purchasing an additional 80 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of Snap-On during the 4th quarter worth approximately $1,068,000. Finally, Catalyst Funds Management Pty Ltd acquired a new position in shares of Snap-On during the 4th quarter worth approximately $339,000. Hedge funds and other institutional investors own 84.88% of the company's stock.

Insider Activity

In related news, CFO Aldo John Pagliari sold 5,553 shares of Snap-On stock in a transaction on 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 sale, the chief financial officer owned 109,560 shares of the company's stock, valued at $35,808,590.40. The trade was a 4.82% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Karen L. Daniel sold 1,090 shares of the firm's stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of $319.92, for a total value of $348,712.80. Following the sale, the director owned 8,030 shares of the company's stock, valued at $2,568,957.60. This represents a 11.95% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 29,815 shares of company stock worth $9,482,532 over the last 90 days. Company insiders own 3.90% of the company's stock.

Analyst Upgrades and Downgrades

SNA has been the subject of a number of analyst reports. 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 report on Monday, March 31st. Barrington Research reissued an "outperform" rating and issued a $350.00 target price on shares of Snap-On in a research note on Monday, May 19th. Robert W. Baird decreased their price target on shares of Snap-On from $349.00 to $320.00 and set a "neutral" rating on the stock in a research note on Monday, April 21st. Finally, Wall Street Zen raised shares of Snap-On from a "hold" rating to a "buy" rating in a research report on Friday, May 16th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $350.83.

Snap-On Stock Up 0.6%

Snap-On stock traded up $1.79 during trading on Monday, reaching $319.36. 377,864 shares of the company's stock were exchanged, compared to its average volume of 391,864. The company's 50-day moving average is $317.94 and its two-hundred day moving average is $328.23. The company has a debt-to-equity ratio of 0.21, a quick ratio of 3.18 and a current ratio of 4.14. Snap-On Incorporated has a 52-week low of $266.55 and a 52-week high of $373.89. The firm has a market cap of $16.70 billion, a price-to-earnings ratio of 16.72, a PEG ratio of 2.27 and a beta of 0.76.

Snap-On (NYSE:SNA - Get Free Report) last issued 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). The company had revenue of $1.14 billion during the quarter, compared to analysts' expectations of $1.20 billion. Snap-On had a return on equity of 18.60% and a net margin of 21.42%. During the same period in the previous year, the company earned $4.91 EPS. On average, 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 disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Tuesday, May 20th were given a $2.14 dividend. This represents a $8.56 annualized dividend and a yield of 2.68%. The ex-dividend date of this dividend was Tuesday, May 20th. Snap-On's dividend payout ratio (DPR) is 44.82%.

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.