Snap-On Incorporated (NYSE:SNA) Shares Sold by Pinnacle Financial Partners Inc

Pinnacle Financial Partners Inc lessened its position in Snap-On Incorporated (NYSE:SNA - Free Report) by 2.6% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 48,745 shares of the company's stock after selling 1,292 shares during the quarter. Pinnacle Financial Partners Inc owned 0.09% of Snap-On worth $16,427,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the company. SVB Wealth LLC bought a new position in Snap-On in the 4th quarter valued at $455,000. Fisher Asset Management LLC grew its holdings in shares of Snap-On by 88.9% in the fourth quarter. Fisher Asset Management LLC now owns 49,944 shares of the company's stock worth $16,955,000 after purchasing an additional 23,504 shares during the last quarter. US Bancorp DE increased its stake in Snap-On by 1.0% in the 4th quarter. US Bancorp DE now owns 33,828 shares of the company's stock worth $11,485,000 after buying an additional 336 shares during the period. Metis Global Partners LLC increased its stake in Snap-On by 3.8% in the 4th quarter. Metis Global Partners LLC now owns 1,755 shares of the company's stock worth $596,000 after buying an additional 64 shares during the period. Finally, Jacobi Capital Management LLC purchased a new stake in Snap-On in the 4th quarter valued at about $209,000. 84.88% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on SNA. Wall Street Zen raised shares of Snap-On from a "hold" rating to a "buy" rating in a research report on Friday, May 16th. Longbow Research upgraded Snap-On from a "neutral" rating to a "buy" rating and set a $400.00 price objective on the stock in a report on Monday, March 31st. Barrington Research reaffirmed an "outperform" rating and set a $350.00 target price on shares of Snap-On in a research report on Monday, May 19th. Robert W. Baird dropped 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. Finally, Tigress Financial lifted their price objective on Snap-On from $385.00 to $390.00 and gave the company a "buy" rating in a report on Tuesday, March 4th. One equities research 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. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $350.83.

Insiders Place Their Bets

In other news, Director Karen L. Daniel sold 1,090 shares of the firm's stock in a transaction on Thursday, June 5th. The stock was sold at an average price of $319.92, for a total value of $348,712.80. Following the completion of the sale, the director owned 8,030 shares of the company's stock, valued at $2,568,957.60. This trade represents a 11.95% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Aldo John Pagliari sold 5,553 shares of the stock in a transaction dated 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 sale, the chief financial officer owned 109,560 shares of the company's stock, valued at approximately $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. Over the last three months, insiders have sold 29,815 shares of company stock valued at $9,482,532. 3.90% of the stock is currently owned by insiders.

Snap-On Stock Up 0.7%

Shares of SNA traded up $2.07 during trading hours on Wednesday, hitting $319.93. The company had a trading volume of 286,311 shares, compared to its average volume of 369,374. The company has a current ratio of 4.14, a quick ratio of 3.18 and a debt-to-equity ratio of 0.21. The company has a market capitalization of $16.73 billion, a PE ratio of 16.75, a price-to-earnings-growth ratio of 2.22 and a beta of 0.76. Snap-On Incorporated has a one year low of $252.98 and a one year high of $373.90. The company's fifty day moving average price is $316.63 and its two-hundred day moving average price is $329.77.

Snap-On (NYSE:SNA - Get Free Report) last announced its earnings results on Thursday, April 17th. The company reported $4.51 EPS for the quarter, missing analysts' consensus estimates of $4.81 by ($0.30). Snap-On had a return on equity of 18.60% and a net margin of 21.42%. The firm had revenue of $1.14 billion during the quarter, compared to the consensus estimate of $1.20 billion. During the same quarter in the prior year, the firm posted $4.91 earnings per share. As a group, equities analysts forecast that Snap-On Incorporated will post 19.79 earnings per share for the current fiscal year.

Snap-On Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Tuesday, May 20th were issued a $2.14 dividend. This represents a $8.56 annualized dividend and a yield of 2.68%. The ex-dividend date of this dividend was Tuesday, May 20th. Snap-On's dividend payout ratio is currently 44.82%.

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.