Rhumbline Advisers Acquires 4,910 Shares of Snap-on Incorporated (NYSE:SNA)

Rhumbline Advisers increased its holdings in shares of Snap-on Incorporated (NYSE:SNA - Free Report) by 4.4% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 115,827 shares of the company's stock after purchasing 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 filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in the stock. BTC Capital Management Inc. increased its position in shares of Snap-on by 14.2% during the first quarter. BTC Capital Management Inc. now owns 10,320 shares of the company's stock worth $3,478,000 after acquiring an additional 1,281 shares during the last quarter. Parallel Advisors LLC grew its holdings in shares of Snap-on by 12.5% during the first quarter. Parallel Advisors LLC now owns 601 shares of the company's stock valued at $202,000 after purchasing an additional 67 shares during the last quarter. GAMMA Investing LLC grew its stake in Snap-on by 65,113.6% during the 1st quarter. GAMMA Investing LLC now owns 703,003 shares of the company's stock worth $236,919,000 after buying an additional 701,925 shares during the last quarter. Versant Capital Management Inc increased its holdings in shares of Snap-on by 448.5% in the 1st quarter. Versant Capital Management Inc now owns 1,322 shares of the company's stock worth $446,000 after acquiring an additional 1,081 shares during the period. Finally, Park National Corp OH raised its holdings in shares of Snap-on by 10.3% during the first quarter. Park National Corp OH now owns 882 shares of the company's stock valued at $297,000 after buying an additional 82 shares during the last quarter. 84.88% of the stock is currently owned by institutional investors and hedge funds.

Snap-on Stock Performance

Shares of SNA traded up $2.89 on Friday, reaching $321.91. 207,661 shares of the stock traded hands, compared to its average volume of 364,198. The firm has a market cap of $16.83 billion, a price-to-earnings ratio of 16.51, a P/E/G ratio of 2.21 and a beta of 0.78. The company has a debt-to-equity ratio of 0.22, a current ratio of 4.15 and a quick ratio of 3.17. Snap-on Incorporated has a 12 month low of $252.98 and a 12 month high of $373.90. The stock's 50-day moving average price is $319.76 and its 200-day moving average price is $336.15.

Snap-on (NYSE:SNA - Get Free Report) last announced its quarterly earnings results on Thursday, April 17th. The company reported $4.51 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.81 by ($0.30). The firm 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 period in the prior year, the business earned $4.91 earnings per share. Equities analysts forecast that Snap-on Incorporated will post 19.79 EPS for the current fiscal year.

Snap-on Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders 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 dividend payout ratio is currently 44.82%.

Insider Transactions at Snap-on

In other news, CFO Aldo John Pagliari sold 5,553 shares of the stock in a transaction on Thursday, May 15th. The stock was sold at an average price of $326.84, for a total value of $1,814,942.52. Following the transaction, the chief financial officer now 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 transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Nicholas T. Pinchuk sold 22,700 shares of Snap-on stock in a transaction that occurred on 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 transaction, the chief executive officer now directly owns 793,932 shares in the company, valued at $266,221,278.24. The trade was a 2.78% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 52,515 shares of company stock worth $17,094,296. Insiders own 3.90% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on SNA shares. Longbow Research upgraded 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 report on Monday, March 31st. Barrington Research reaffirmed an "outperform" rating and issued a $350.00 price target on shares of Snap-on in a research note on Monday, May 19th. Wall Street Zen upgraded shares of Snap-on from a "hold" rating to a "buy" rating in a report on Friday, May 16th. 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. Finally, Tigress Financial upped their target price on Snap-on from $385.00 to $390.00 and gave the stock a "buy" rating in a research report on Tuesday, March 4th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and five have given a buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $350.83.

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.