Nuveen Asset Management LLC Sells 5,825 Shares of Snap-on Incorporated (NYSE:SNA)

Nuveen Asset Management LLC lowered its stake in shares of Snap-on Incorporated (NYSE:SNA - Free Report) by 4.0% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 138,800 shares of the company's stock after selling 5,825 shares during the quarter. Nuveen Asset Management LLC owned approximately 0.26% of Snap-on worth $47,120,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Bleakley Financial Group LLC bought a new position in shares of Snap-on in the 4th quarter valued at about $512,000. Vest Financial LLC raised its holdings 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 buying an additional 2,460 shares during the period. Ethic Inc. raised its holdings in Snap-on by 18.6% during the 4th quarter. Ethic Inc. now owns 9,212 shares of the company's stock worth $3,127,000 after buying an additional 1,445 shares during the period. Empirical Finance LLC raised its holdings in Snap-on by 45.8% during the 4th quarter. Empirical Finance LLC now owns 5,906 shares of the company's stock worth $2,005,000 after buying an additional 1,856 shares during the period. Finally, Advyzon Investment Management LLC acquired a new stake in Snap-on during the 4th quarter worth approximately $272,000. Institutional investors own 84.88% of the company's stock.

Insider Activity 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 transaction, the chief executive officer now owns 793,932 shares of the company's stock, valued at $266,221,278.24. This represents a 2.78% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CFO Aldo John Pagliari sold 5,553 shares of the company'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 value 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 represents a 4.82% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 35,113 shares of company stock valued at $11,752,590 over the last quarter. 3.90% of the stock is owned by corporate insiders.

Snap-on Trading Up 0.0%

Shares of Snap-on stock opened at $331.84 on Tuesday. The firm has a 50-day moving average of $322.59 and a 200-day moving average of $338.85. The stock has a market cap of $17.35 billion, a PE ratio of 17.02, a PEG ratio of 2.21 and a beta of 0.78. Snap-on Incorporated has a 52-week low of $252.98 and a 52-week high of $373.90. The company has a debt-to-equity ratio of 0.22, a quick ratio of 3.17 and a current ratio of 4.15.

Snap-on (NYSE:SNA - Get Free Report) last announced its earnings results 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 during 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 period in the previous year, the firm posted $4.91 EPS. As a group, sell-side analysts forecast that Snap-on Incorporated will post 19.79 EPS for the current year.

Snap-on Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Tuesday, May 20th will be paid a $2.14 dividend. This represents a $8.56 dividend on an annualized basis and a yield of 2.58%. The ex-dividend date of this dividend is Tuesday, May 20th. Snap-on's dividend payout ratio (DPR) is presently 44.82%.

Analyst Upgrades and Downgrades

Several analysts have commented on SNA shares. Robert W. Baird dropped their target price 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. Tigress Financial raised 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. Longbow Research raised shares of Snap-on from a "neutral" rating to a "buy" rating and set a $400.00 target price for the company in a research note 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. Finally, StockNews.com raised shares of Snap-on from a "hold" rating to a "buy" rating in a research report on Friday. 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. According to data from MarketBeat.com, Snap-on currently has a consensus rating of "Moderate Buy" and an average target price of $350.83.

About Snap-on

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.

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