Two Sigma Investments LP Sells 18,437 Shares of Snap-on Incorporated (NYSE:SNA)

Two Sigma Investments LP decreased its position in shares of Snap-on Incorporated (NYSE:SNA - Free Report) by 71.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,489 shares of the company's stock after selling 18,437 shares during the period. Two Sigma Investments LP's holdings in Snap-on were worth $2,542,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Barclays PLC grew its position in Snap-on by 1.8% during the 3rd quarter. Barclays PLC now owns 100,262 shares of the company's stock worth $29,044,000 after purchasing an additional 1,803 shares in the last quarter. Perigon Wealth Management LLC increased its stake in Snap-on by 9.5% in the 4th quarter. Perigon Wealth Management LLC now owns 868 shares of the company's stock valued at $300,000 after buying an additional 75 shares during the period. Swedbank AB boosted its stake in shares of Snap-on by 12.5% during the 4th quarter. Swedbank AB now owns 57,518 shares of the company's stock valued at $19,526,000 after buying an additional 6,375 shares during the period. Caprock Group LLC grew its holdings in shares of Snap-on by 40.9% during 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 in the last quarter. Finally, Tokio Marine Asset Management Co. Ltd. raised its holdings in shares of Snap-on by 4.5% during the fourth quarter. Tokio Marine Asset Management Co. Ltd. now owns 1,393 shares of the company's stock worth $473,000 after acquiring an additional 60 shares in the last quarter. 84.88% of the stock is owned by institutional investors.

Snap-on Stock Performance

Shares of Snap-on stock traded down $0.76 during trading on Wednesday, reaching $320.32. The company's stock had a trading volume of 286,958 shares, compared to its average volume of 364,559. Snap-on Incorporated has a 52 week low of $252.98 and a 52 week high of $373.90. The business's 50-day moving average price is $320.13 and its 200-day moving average price is $336.42. The firm has a market cap of $16.75 billion, a PE ratio of 16.43, a P/E/G 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.

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). Snap-on had a net margin of 21.71% and a return on equity of 19.20%. The business had revenue of $1.14 billion during the quarter, compared to analyst estimates of $1.20 billion. During the same quarter last year, the company posted $4.91 earnings per share. Equities analysts forecast that Snap-on Incorporated will post 19.79 earnings per share for the current year.

Snap-on Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Tuesday, May 20th will be paid a dividend of $2.14 per share. The ex-dividend date is Tuesday, May 20th. This represents a $8.56 dividend on an annualized basis and a yield of 2.67%. Snap-on's dividend payout ratio (DPR) is presently 44.82%.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on SNA. Robert W. Baird cut 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. Longbow Research raised shares of Snap-on from a "neutral" rating to a "buy" rating and set a $400.00 price objective for the company in a research report on Monday, March 31st. Wall Street Zen raised shares of Snap-on from a "hold" rating to a "buy" rating in a report on Friday, May 16th. 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. Finally, Tigress Financial increased their target price on shares of Snap-on from $385.00 to $390.00 and gave the stock a "buy" rating in a research report on Tuesday, March 4th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $350.83.

Insider Transactions at Snap-on

In other news, CEO Nicholas T. Pinchuk sold 23,172 shares of the business's stock in a transaction that occurred on Monday, June 2nd. The shares were sold at an average price of $315.85, for a total value of $7,318,876.20. Following the sale, the chief executive officer now owns 804,510 shares of the company's stock, valued at $254,104,483.50. The trade was a 2.80% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Aldo John Pagliari sold 5,553 shares of the company's stock in a transaction on 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 $35,808,590.40. This trade represents a 4.82% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 51,425 shares of company stock valued at $16,745,583 over the last three months. Corporate insiders own 3.90% of the company's stock.

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.