Alpine Woods Capital Investors LLC Sells 4,360 Shares of Snap-On Incorporated (NYSE:SNA)

Alpine Woods Capital Investors LLC trimmed its position in shares of Snap-On Incorporated (NYSE:SNA - Free Report) by 30.1% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 10,110 shares of the company's stock after selling 4,360 shares during the period. Alpine Woods Capital Investors LLC's holdings in Snap-On were worth $3,407,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the company. GAMMA Investing LLC lifted its position in Snap-On by 65,113.6% in the first quarter. GAMMA Investing LLC now owns 703,003 shares of the company's stock worth $236,919,000 after purchasing an additional 701,925 shares during the period. Norges Bank bought a new position in shares of Snap-On during the 4th quarter worth about $145,342,000. First Trust Advisors LP boosted its position in shares of Snap-On by 29.2% during the 4th quarter. First Trust Advisors LP now owns 1,819,403 shares of the company's stock valued at $617,651,000 after acquiring an additional 411,317 shares in the last quarter. Proficio Capital Partners LLC bought a new position in Snap-On during the fourth quarter worth about $57,738,000. Finally, Northern Trust Corp raised its holdings in shares of Snap-On by 22.4% in the 4th quarter. Northern Trust Corp now owns 798,254 shares of the company's stock worth $270,991,000 after buying an additional 145,861 shares in the last quarter. Institutional investors and hedge funds own 84.88% of the company's stock.

Analysts Set New Price Targets

SNA has been the subject of several recent analyst reports. Barrington Research reiterated an "outperform" rating and set a $350.00 price objective 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 report on Friday, May 16th. 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 note on Monday, March 31st. Finally, Robert W. Baird decreased their price target on Snap-On from $349.00 to $320.00 and set a "neutral" rating on the stock in a research report on Monday, April 21st. One research analyst has rated the stock with a sell rating, one has given a hold rating and five have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $350.83.

Snap-On Trading Down 1.0%

Shares of NYSE:SNA traded down $3.05 during midday trading on Friday, hitting $317.65. The company had a trading volume of 260,950 shares, compared to its average volume of 367,495. The company has a current ratio of 4.14, a quick ratio of 3.18 and a debt-to-equity ratio of 0.21. Snap-On Incorporated has a 12 month low of $266.55 and a 12 month high of $373.90. The stock has a market cap of $16.61 billion, a price-to-earnings ratio of 16.63, a PEG ratio of 2.29 and a beta of 0.76. The firm has a fifty day simple moving average of $317.94 and a 200 day simple moving average of $328.47.

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 during the quarter, compared to analyst estimates of $1.20 billion. Snap-On had a net margin of 21.42% and a return on equity of 18.60%. During the same period last year, the firm earned $4.91 EPS. On average, analysts predict that Snap-On Incorporated will post 19.79 EPS for the current year.

Snap-On Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Tuesday, May 20th were given a dividend of $2.14 per share. This represents a $8.56 dividend on an annualized basis and a dividend yield of 2.69%. The ex-dividend date of this dividend was Tuesday, May 20th. Snap-On's dividend payout ratio is currently 44.82%.

Insider Activity

In other news, CFO Aldo John Pagliari sold 5,553 shares of the company's stock in a transaction that occurred on Thursday, May 15th. The shares were sold at an average price of $326.84, for a total value of $1,814,942.52. Following the completion of the transaction, the chief financial officer owned 109,560 shares in the company, valued at $35,808,590.40. This represents a 4.82% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Nicholas T. Pinchuk sold 23,172 shares of the firm's 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 sale, the chief executive officer owned 804,510 shares in the company, valued at approximately $254,104,483.50. The trade was a 2.80% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 29,815 shares of company stock worth $9,482,532 in the last 90 days. Corporate insiders own 3.90% of the company's stock.

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.