Rhumbline Advisers Increases Stock Holdings in Snap-on Incorporated (NYSE:SNA)

Rhumbline Advisers boosted its stake in Snap-on Incorporated (NYSE:SNA - Free Report) by 4.4% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 115,827 shares of the company's stock after acquiring an additional 4,910 shares during the period. Rhumbline Advisers owned 0.22% of Snap-on worth $39,035,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in SNA. Caprock Group LLC increased its position in Snap-on by 40.9% in the 4th quarter. Caprock Group LLC now owns 1,381 shares of the company's stock valued at $469,000 after acquiring an additional 401 shares during the period. Tokio Marine Asset Management Co. Ltd. boosted its holdings in Snap-on by 4.5% in the 4th quarter. Tokio Marine Asset Management Co. Ltd. now owns 1,393 shares of the company's stock valued at $473,000 after purchasing an additional 60 shares in the last quarter. Greenleaf Trust boosted its holdings in Snap-on by 3.1% in the 4th quarter. Greenleaf Trust now owns 1,013 shares of the company's stock valued at $344,000 after purchasing an additional 30 shares in the last quarter. CENTRAL TRUST Co boosted its holdings in Snap-on by 10.0% in the 4th quarter. CENTRAL TRUST Co now owns 651 shares of the company's stock valued at $221,000 after purchasing an additional 59 shares in the last quarter. Finally, Optas LLC purchased a new stake in Snap-on in the 4th quarter valued at approximately $201,000. Institutional investors and hedge funds own 84.88% of the company's stock.

Analyst Ratings Changes

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

Snap-on Price Performance

Shares of SNA traded up $2.89 on Friday, reaching $321.91. The stock had a trading volume of 207,661 shares, compared to its average volume of 365,837. The firm has a market capitalization of $16.83 billion, a PE ratio of 16.51, a PEG ratio of 2.21 and a beta of 0.78. The company has a quick ratio of 3.17, a current ratio of 4.15 and a debt-to-equity ratio of 0.22. The firm has a 50-day moving average of $319.41 and a 200 day moving average of $335.59. Snap-on Incorporated has a twelve month low of $252.98 and a twelve month high of $373.90.

Snap-on (NYSE:SNA - Get Free Report) last posted 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). Snap-on had a net margin of 21.71% and a return on equity of 19.20%. The company had revenue of $1.14 billion during the quarter, compared to analysts' expectations of $1.20 billion. During the same period in the previous year, the company posted $4.91 EPS. Sell-side analysts expect that Snap-on Incorporated will post 19.79 EPS for the current year.

Snap-on Dividend Announcement

The business also recently announced 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 2.66%. The ex-dividend date is Tuesday, May 20th. Snap-on's payout ratio is currently 44.82%.

Insider Activity at Snap-on

In other Snap-on news, CEO Nicholas T. Pinchuk sold 23,172 shares of the stock in a transaction on Monday, June 2nd. The stock was sold at an average price of $315.85, for a total transaction of $7,318,876.20. Following the transaction, the chief executive officer now owns 804,510 shares of the company's stock, valued at $254,104,483.50. This represents a 2.80% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director Karen L. Daniel sold 1,090 shares of the firm's stock in a transaction on Thursday, June 5th. The stock was sold at an average price of $319.92, for a total value of $348,712.80. Following the sale, the director now owns 8,030 shares in the company, valued at $2,568,957.60. This trade represents a 11.95% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 52,515 shares of company stock valued at $17,094,296. 3.90% of the stock is owned by corporate insiders.

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.