Bailard Inc. Grows Stock Holdings in Snap-On Incorporated (NYSE:SNA)

Bailard Inc. lifted its holdings in shares of Snap-On Incorporated (NYSE:SNA - Free Report) by 16.1% in the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 9,019 shares of the company's stock after buying an additional 1,248 shares during the period. Bailard Inc.'s holdings in Snap-On were worth $3,039,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of the business. Ethic Inc. lifted its stake in shares of Snap-On by 18.6% in the 4th quarter. Ethic Inc. now owns 9,212 shares of the company's stock valued at $3,127,000 after purchasing an additional 1,445 shares during the period. Geode Capital Management LLC grew its holdings in Snap-On by 1.7% in the fourth quarter. Geode Capital Management LLC now owns 1,641,159 shares of the company's stock worth $556,022,000 after purchasing an additional 27,700 shares during the period. DAVENPORT & Co LLC acquired a new position in Snap-On during the 1st quarter worth approximately $218,000. OneDigital Investment Advisors LLC grew its stake in Snap-On by 26.4% in the first quarter. OneDigital Investment Advisors LLC now owns 867 shares of the company's stock valued at $292,000 after acquiring an additional 181 shares during the period. Finally, Vontobel Holding Ltd. raised its position in shares of Snap-On by 27.4% during the first quarter. Vontobel Holding Ltd. now owns 13,636 shares of the company's stock worth $4,595,000 after purchasing an additional 2,932 shares during the period. 84.88% of the stock is currently owned by institutional investors.

Snap-On Stock Down 0.4%

Snap-On stock traded down $1.25 on Friday, hitting $336.55. 619,623 shares of the stock traded hands, compared to its average volume of 369,908. Snap-On Incorporated has a 1 year low of $266.56 and a 1 year high of $373.90. The firm has a market cap of $17.60 billion, a P/E ratio of 17.95, a price-to-earnings-growth ratio of 2.42 and a beta of 0.76. The business's fifty day simple moving average is $318.89 and its 200 day simple moving average is $327.74. The company has a current ratio of 4.48, a quick ratio of 3.18 and a debt-to-equity ratio of 0.21.

Snap-On (NYSE:SNA - Get Free Report) last posted its quarterly earnings results on Thursday, July 17th. The company reported $4.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.61 by $0.11. The firm had revenue of $1.18 billion during the quarter, compared to analyst estimates of $1.16 billion. Snap-On had a return on equity of 18.02% and a net margin of 20.98%. Snap-On's quarterly revenue was up .0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $5.07 EPS. As a group, sell-side analysts forecast that Snap-On Incorporated will post 19.79 earnings per share for the current year.

Snap-On Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Tuesday, May 20th were paid a dividend of $2.14 per share. This represents a $8.56 annualized dividend and a yield of 2.54%. The ex-dividend date of this dividend was Tuesday, May 20th. Snap-On's dividend payout ratio is currently 44.82%.

Insiders Place Their Bets

In other Snap-On news, CEO Nicholas T. Pinchuk sold 23,172 shares of the stock in a transaction dated Monday, June 2nd. The stock was sold at an average price of $315.85, for a total value of $7,318,876.20. Following the transaction, the chief executive officer owned 804,510 shares of the company's stock, valued at approximately $254,104,483.50. This represents a 2.80% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Karen L. Daniel sold 1,090 shares of the business's stock in a transaction on 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 directly owned 8,030 shares of the company's stock, valued at approximately $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 29,815 shares of company stock valued at $9,482,532. Company insiders own 3.90% of the company's stock.

Analyst Ratings Changes

Several research analysts recently weighed in on SNA shares. Barrington Research restated an "outperform" rating and set a $350.00 price target on shares of Snap-On in a report on Tuesday, July 15th. Longbow Research upgraded Snap-On from a "neutral" rating to a "buy" rating and set a $400.00 price target for the company in a research note on Monday, March 31st. Bank of America increased their target price on Snap-On from $265.00 to $285.00 and gave the stock an "underperform" rating in a research report on Friday. Robert W. Baird boosted their price target on shares of Snap-On from $329.00 to $347.00 and gave the company a "neutral" rating in a research report on Friday. Finally, Wall Street Zen upgraded shares of Snap-On from a "hold" rating to a "buy" rating in a research report on Friday, May 16th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $356.17.

Snap-On 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.