ProShare Advisors LLC Has $3.73 Million Stock Position in Snap-on Incorporated (NYSE:SNA)

ProShare Advisors LLC trimmed its position in Snap-on Incorporated (NYSE:SNA - Free Report) by 8.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,978 shares of the company's stock after selling 972 shares during the quarter. ProShare Advisors LLC's holdings in Snap-on were worth $3,727,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in SNA. Quantinno Capital Management LP lifted its holdings in shares of Snap-on by 56.9% in the fourth quarter. Quantinno Capital Management LP now owns 37,420 shares of the company's stock valued at $12,703,000 after purchasing an additional 13,570 shares in the last quarter. Mufg Securities Americas Inc. purchased a new stake in shares of Snap-on in the fourth quarter valued at $263,000. Nomura Holdings Inc. purchased a new stake in shares of Snap-on in the fourth quarter valued at $587,000. NDVR Inc. purchased a new stake in shares of Snap-on in the fourth quarter valued at $217,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of Snap-on by 0.7% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 7,665 shares of the company's stock valued at $2,602,000 after purchasing an additional 57 shares during the period. 84.88% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, CFO Aldo John Pagliari sold 5,553 shares of the business's stock in a transaction dated Thursday, May 15th. The stock was 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 owns 109,560 shares of the company's stock, valued at approximately $35,808,590.40. The trade was a 4.82% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Nicholas T. Pinchuk sold 22,700 shares of the business's stock in a transaction dated 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 transaction, the chief executive officer now directly owns 793,932 shares of the company's stock, valued at $266,221,278.24. This represents a 2.78% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 35,113 shares of company stock valued at $11,752,590. Insiders own 3.90% of the company's stock.

Snap-on Stock Up 0.0%

Snap-on stock opened at $331.84 on Tuesday. The company has a market capitalization of $17.35 billion, a P/E ratio of 17.02, a P/E/G ratio of 2.21 and a beta of 0.78. The firm's fifty day simple moving average is $322.59 and its 200-day simple moving average is $338.85. 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 1-year low of $252.98 and a 1-year high of $373.90.

Snap-on (NYSE:SNA - Get Free Report) last issued its quarterly earnings data on Thursday, April 17th. The company reported $4.51 EPS for the quarter, missing analysts' consensus estimates of $4.81 by ($0.30). The company had revenue of $1.14 billion for the quarter, compared to analyst estimates 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 prior year, the company posted $4.91 EPS. Sell-side analysts forecast that Snap-on Incorporated will post 19.79 earnings per share for the current fiscal year.

Snap-on Announces Dividend

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

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the company. Robert W. Baird dropped their target price on Snap-on from $349.00 to $320.00 and set a "neutral" rating on the stock in a 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. Longbow Research upgraded shares of Snap-on from a "neutral" rating to a "buy" rating and set a $400.00 price target on the stock in a report on Monday, March 31st. StockNews.com upgraded shares of Snap-on from a "hold" rating to a "buy" rating in a report on Friday. Finally, Tigress Financial boosted their price target on shares of Snap-on from $385.00 to $390.00 and gave the company a "buy" rating in a report on Tuesday, March 4th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and five have issued a buy rating to the company's stock. Based on data from MarketBeat, Snap-on presently has an average rating of "Moderate Buy" and a consensus price target 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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