Sarasin & Partners LLP Takes $26.36 Million Position in Snap-on Incorporated (NYSE:SNA)

Sarasin & Partners LLP bought a new stake in shares of Snap-on Incorporated (NYSE:SNA - Free Report) in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 78,215 shares of the company's stock, valued at approximately $26,359,000. Sarasin & Partners LLP owned about 0.15% of Snap-on at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Bleakley Financial Group LLC purchased a new stake in shares of Snap-on in the fourth quarter worth $512,000. Sumitomo Mitsui DS Asset Management Company Ltd increased its stake in shares of Snap-on by 26.3% in the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 6,413 shares of the company's stock worth $2,177,000 after purchasing an additional 1,337 shares in the last quarter. Wilmington Savings Fund Society FSB increased its stake in shares of Snap-on by 0.9% in the fourth quarter. Wilmington Savings Fund Society FSB now owns 5,143 shares of the company's stock worth $1,746,000 after purchasing an additional 46 shares in the last quarter. Empirical Finance LLC increased its stake in shares of Snap-on by 45.8% in the fourth quarter. Empirical Finance LLC now owns 5,906 shares of the company's stock worth $2,005,000 after purchasing an additional 1,856 shares in the last quarter. Finally, WCM Investment Management LLC increased its stake in shares of Snap-on by 4.5% in the fourth quarter. WCM Investment Management LLC now owns 727 shares of the company's stock worth $247,000 after purchasing an additional 31 shares in the last quarter. 84.88% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Snap-on

In related news, 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 transaction of $1,814,942.52. Following the completion of the sale, 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 sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Karen L. Daniel sold 1,090 shares of Snap-on stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of $319.92, for a total transaction of $348,712.80. Following the sale, the director now owns 8,030 shares of the company's stock, valued at $2,568,957.60. The trade was a 11.95% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 52,515 shares of company stock worth $17,094,296. 3.90% of the stock is currently owned by insiders.

Analyst Ratings Changes

SNA has been the subject of several research analyst reports. Barrington Research reaffirmed an "outperform" rating and set a $350.00 target price on shares of Snap-on in a research note on Monday, May 19th. Wall Street Zen raised shares of Snap-on from a "hold" rating to a "buy" rating in a research note on Friday, May 16th. Robert W. Baird cut their target price on shares of Snap-on from $349.00 to $320.00 and set a "neutral" rating for the company in a research note 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. Finally, 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. One analyst has rated the stock with a sell rating, one has assigned a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $350.83.

Snap-on Price Performance

Shares of NYSE:SNA traded down $1.86 on Wednesday, reaching $320.24. The company's stock had a trading volume of 256,344 shares, compared to its average volume of 365,735. Snap-on Incorporated has a 52-week low of $252.98 and a 52-week high of $373.90. The company has a market cap of $16.75 billion, a P/E ratio of 16.42, a PEG ratio of 2.21 and a beta of 0.78. The company has a 50-day simple moving average of $318.98 and a 200 day simple moving average of $335.08. 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 released its 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 during the quarter, compared to the consensus estimate of $1.20 billion. Snap-on had a return on equity of 19.20% and a net margin of 21.71%. During the same quarter last year, the business posted $4.91 EPS. As a group, equities research analysts anticipate that Snap-on Incorporated will post 19.79 EPS for the current fiscal year.

Snap-on Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Tuesday, May 20th were issued a $2.14 dividend. The ex-dividend date was Tuesday, May 20th. This represents a $8.56 annualized dividend and a dividend yield of 2.67%. Snap-on's dividend payout ratio (DPR) is presently 44.82%.

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.