Snap-on Incorporated (NYSE:SNA) Shares Acquired by Mackenzie Financial Corp

Mackenzie Financial Corp grew its position in Snap-on Incorporated (NYSE:SNA - Free Report) by 40.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 6,119 shares of the company's stock after acquiring an additional 1,758 shares during the quarter. Mackenzie Financial Corp's holdings in Snap-on were worth $2,077,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in SNA. Bleakley Financial Group LLC purchased a new position in shares of Snap-on during the fourth quarter valued at approximately $512,000. Vest Financial LLC lifted its stake in shares of 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 last quarter. Ethic Inc. boosted 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 acquiring an additional 1,445 shares during the period. Empirical Finance LLC grew its position in Snap-on by 45.8% in the 4th quarter. Empirical Finance LLC now owns 5,906 shares of the company's stock valued at $2,005,000 after acquiring an additional 1,856 shares during the last quarter. Finally, Advyzon Investment Management LLC purchased a new stake in Snap-on in the fourth quarter worth $272,000. Hedge funds and other institutional investors own 84.88% of the company's stock.

Snap-on Stock Down 1.3%

NYSE SNA traded down $4.22 during trading on Monday, reaching $316.53. 363,713 shares of the company's stock traded hands, compared to its average volume of 364,140. Snap-on Incorporated has a 12-month low of $252.98 and a 12-month 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 firm has a market cap of $16.55 billion, a price-to-earnings ratio of 16.23, a price-to-earnings-growth ratio of 2.21 and a beta of 0.78. The company's 50 day simple moving average is $321.01 and its two-hundred day simple moving average is $336.92.

Snap-on (NYSE:SNA - Get Free Report) last released 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). The business had revenue of $1.14 billion for the quarter, compared to the consensus estimate 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 in the prior year, the business posted $4.91 earnings per share. As a group, sell-side analysts forecast that Snap-on Incorporated will post 19.79 EPS for the current fiscal year.

Snap-on Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Tuesday, May 20th will be given a dividend of $2.14 per share. The ex-dividend date is Tuesday, May 20th. This represents a $8.56 annualized dividend and a yield of 2.70%. Snap-on's dividend payout ratio (DPR) is presently 44.82%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on SNA. Tigress Financial boosted their target price on shares of Snap-on from $385.00 to $390.00 and gave the company a "buy" rating in a research note on Tuesday, March 4th. Barrington Research reissued an "outperform" rating and issued a $350.00 price objective on shares of Snap-on in a research report on Monday, May 19th. Wall Street Zen raised shares of Snap-on from a "hold" rating to a "buy" rating in a research report on Friday, May 16th. Longbow Research raised shares of Snap-on from a "neutral" rating to a "buy" rating and set a $400.00 price target for the company in a research note on Monday, March 31st. Finally, Robert W. Baird dropped their price objective on Snap-on from $349.00 to $320.00 and set a "neutral" rating on the stock in a research note on Monday, April 21st. One analyst has rated the stock with a sell rating, one has given a hold rating and five have given a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $350.83.

Insider Activity

In related news, CEO Nicholas T. Pinchuk sold 22,700 shares of the firm's stock in a transaction dated Thursday, March 27th. The stock was sold at an average price of $335.32, for a total transaction of $7,611,764.00. Following the sale, the chief executive officer now owns 793,932 shares of the company's stock, valued at $266,221,278.24. This trade represents a 2.78% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, 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 value of $1,814,942.52. Following the completion of the transaction, the chief financial officer now owns 109,560 shares in the company, 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. 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.