Envestnet Asset Management Inc. Increases Stock Position in Snap-On Incorporated (NYSE:SNA)

Envestnet Asset Management Inc. boosted its position in Snap-On Incorporated (NYSE:SNA - Free Report) by 2.0% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 774,526 shares of the company's stock after acquiring an additional 15,097 shares during the period. Envestnet Asset Management Inc. owned 1.48% of Snap-On worth $261,023,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the company. Ethic Inc. increased its holdings 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 period. Amundi grew its position in shares of Snap-On by 137.0% in the 4th quarter. Amundi now owns 201,207 shares of the company's stock worth $68,039,000 after buying an additional 116,319 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of Snap-On by 1.7% during the fourth quarter. Geode Capital Management LLC now owns 1,641,159 shares of the company's stock valued at $556,022,000 after buying an additional 27,700 shares during the period. Vontobel Holding Ltd. raised its holdings in shares of Snap-On by 27.4% during the first quarter. Vontobel Holding Ltd. now owns 13,636 shares of the company's stock valued at $4,595,000 after acquiring an additional 2,932 shares in the last quarter. Finally, Proficio Capital Partners LLC purchased a new stake in Snap-On in the fourth quarter worth $57,738,000. Hedge funds and other institutional investors own 84.88% of the company's stock.

Analyst Upgrades and Downgrades

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

Snap-On Stock Up 0.1%

Shares of SNA stock traded up $0.36 during trading hours on Wednesday, hitting $317.44. 20,036 shares of the company's stock traded hands, compared to its average volume of 367,294. The company has a quick ratio of 3.18, a current ratio of 4.14 and a debt-to-equity ratio of 0.21. The stock's fifty day simple moving average is $317.67 and its two-hundred day simple moving average is $328.90. Snap-On Incorporated has a 12-month low of $255.63 and a 12-month high of $373.90. The stock has a market cap of $16.60 billion, a price-to-earnings ratio of 16.62, a PEG ratio of 2.26 and a beta of 0.76.

Snap-On (NYSE:SNA - Get Free Report) last announced 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). Snap-On had a net margin of 21.42% and a return on equity of 18.60%. The company had revenue of $1.14 billion for the quarter, compared to analysts' expectations of $1.20 billion. During the same quarter in the previous year, the firm posted $4.91 EPS. On average, analysts expect that Snap-On Incorporated will post 19.79 EPS for the current year.

Snap-On Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Tuesday, May 20th were paid a $2.14 dividend. This represents a $8.56 dividend on an annualized basis and a yield of 2.70%. The ex-dividend date of this dividend was Tuesday, May 20th. Snap-On's payout ratio is 44.82%.

Insider Activity at Snap-On

In other news, Director Karen L. Daniel sold 1,090 shares of the company's stock in a transaction that occurred on Thursday, June 5th. The shares were sold at an average price of $319.92, for a total value of $348,712.80. Following the transaction, the director owned 8,030 shares in the company, valued at approximately $2,568,957.60. This represents a 11.95% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Aldo John Pagliari sold 5,553 shares of the firm's stock in a transaction that occurred 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 directly owned 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 disclosure for this sale can be found here. In the last ninety days, insiders have sold 29,815 shares of company stock valued at $9,482,532. 3.90% of the stock is owned by insiders.

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.