Snap-On Incorporated (NYSE:SNA) Stock Holdings Decreased by M&T Bank Corp

M&T Bank Corp trimmed its holdings in shares of Snap-On Incorporated (NYSE:SNA - Free Report) by 6.5% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 22,895 shares of the company's stock after selling 1,583 shares during the period. M&T Bank Corp's holdings in Snap-On were worth $7,716,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the business. Vanguard Group Inc. increased its stake in shares of Snap-On by 0.3% during the 4th quarter. Vanguard Group Inc. now owns 6,404,599 shares of the company's stock worth $2,174,233,000 after purchasing an additional 19,328 shares in the last quarter. First Trust Advisors LP increased its stake 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 worth $617,651,000 after purchasing an additional 411,317 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of Snap-On by 1.7% during the 4th 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 in the last quarter. Earnest Partners LLC increased its stake in shares of Snap-On by 1.9% during the 4th quarter. Earnest Partners LLC now owns 963,866 shares of the company's stock worth $327,213,000 after purchasing an additional 18,209 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its position in Snap-On by 5.7% during the fourth quarter. Dimensional Fund Advisors LP now owns 927,564 shares of the company's stock worth $314,896,000 after acquiring an additional 50,187 shares during the last quarter. 84.88% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Snap-On

In related news, CFO Aldo John Pagliari sold 5,553 shares of Snap-On stock in a transaction on 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 transaction, the chief financial officer owned 109,560 shares in the company, valued at approximately $35,808,590.40. The trade was a 4.82% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Karen L. Daniel sold 1,090 shares of Snap-On 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 transaction, the director owned 8,030 shares in the company, 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 90 days, insiders have sold 29,815 shares of company stock worth $9,482,532. 3.90% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on SNA. Barrington Research restated an "outperform" rating and set a $350.00 target price on shares of Snap-On in a research report on Monday, May 19th. Wall Street Zen upgraded shares of Snap-On from a "hold" rating to a "buy" rating in a research 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 on the stock in a research report on Monday, March 31st. Finally, Robert W. Baird decreased their target price on shares of 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 equities research analyst has rated the stock with a sell rating, one has given a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $350.83.

Snap-On Trading Down 1.0%

Shares of SNA traded down $3.05 during mid-day trading on Friday, reaching $317.65. The company had a trading volume of 260,950 shares, compared to its average volume of 367,495. The stock has a market cap of $16.61 billion, a price-to-earnings ratio of 16.63, a price-to-earnings-growth 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 Incorporated has a fifty-two week low of $266.55 and a fifty-two week high of $373.90. 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 (NYSE:SNA - Get Free Report) last posted its earnings results on Thursday, April 17th. The company reported $4.51 earnings per share for the quarter, missing the consensus estimate of $4.81 by ($0.30). The business had revenue of $1.14 billion for 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 quarter in the previous year, the firm posted $4.91 EPS. On average, sell-side analysts anticipate that Snap-On Incorporated will post 19.79 EPS for the current fiscal year.

Snap-On Announces Dividend

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

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.