Snap-on Incorporated (NYSE:SNA) Shares Sold by Unigestion Holding SA

Unigestion Holding SA reduced its holdings in shares of Snap-on Incorporated (NYSE:SNA - Free Report) by 69.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,883 shares of the company's stock after selling 22,990 shares during the period. Unigestion Holding SA's holdings in Snap-on were worth $3,331,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Merit Financial Group LLC raised its position in shares of Snap-on by 23.7% in the 1st quarter. Merit Financial Group LLC now owns 1,497 shares of the company's stock valued at $504,000 after purchasing an additional 287 shares during the last quarter. NBC Securities Inc. purchased a new position in shares of Snap-on in the first quarter worth $192,000. American National Bank & Trust acquired a new stake in shares of Snap-on during the first quarter worth $425,000. Czech National Bank grew its holdings in shares of Snap-on by 5.7% during the first quarter. Czech National Bank now owns 12,033 shares of the company's stock valued at $4,055,000 after buying an additional 648 shares during the last quarter. Finally, Rhumbline Advisers increased its position in shares of Snap-on by 4.4% in the 1st quarter. Rhumbline Advisers now owns 115,827 shares of the company's stock valued at $39,035,000 after acquiring an additional 4,910 shares during the period. 84.88% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages recently weighed in on SNA. Tigress Financial increased their price target on shares of Snap-on from $385.00 to $390.00 and gave the stock a "buy" rating in a report on Tuesday, March 4th. 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 report on Monday, March 31st. Wall Street Zen upgraded Snap-on from a "hold" rating to a "buy" rating in a research note on Friday, May 16th. Barrington Research reissued an "outperform" rating and issued a $350.00 price target on shares of Snap-on in a report on Monday, May 19th. Finally, Robert W. Baird dropped their price objective on shares of Snap-on from $349.00 to $320.00 and set a "neutral" rating on the stock in a research note on Monday, April 21st. One analyst has rated the stock with a sell rating, one has given a hold rating and five have assigned a buy rating to the company's stock. According to data from MarketBeat.com, Snap-on has an average rating of "Moderate Buy" and a consensus target price of $350.83.

Insider Transactions at Snap-on

In related news, CFO Aldo John Pagliari sold 5,553 shares of the business'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 directly owns 109,560 shares of the company's stock, valued at $35,808,590.40. The trade was a 4.82% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Nicholas T. Pinchuk sold 23,172 shares of the stock in a transaction that occurred on Monday, June 2nd. The shares were sold at an average price of $315.85, for a total transaction of $7,318,876.20. Following the completion of the sale, the chief executive officer now directly owns 804,510 shares in the company, valued at approximately $254,104,483.50. This represents a 2.80% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 51,425 shares of company stock valued at $16,745,583 over the last 90 days. 3.90% of the stock is currently owned by corporate insiders.

Snap-on Price Performance

SNA traded down $0.76 during midday trading on Wednesday, hitting $320.32. 286,958 shares of the company traded hands, compared to its average volume of 363,975. The business has a 50 day simple moving average of $320.31 and a two-hundred day simple moving average of $336.53. Snap-on Incorporated has a 52-week low of $252.98 and a 52-week high of $373.90. The company has a market capitalization of $16.75 billion, a price-to-earnings ratio of 16.43, a PEG ratio of 2.21 and a beta of 0.78. The company has a current ratio of 4.15, a quick ratio of 3.17 and a debt-to-equity ratio of 0.22.

Snap-on (NYSE:SNA - Get Free Report) last posted its quarterly earnings data 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 return on equity of 19.20% and a net margin of 21.71%. During the same quarter in the previous year, the firm posted $4.91 earnings per share. On average, equities analysts forecast that Snap-on Incorporated will post 19.79 earnings per share for the current fiscal year.

Snap-on Dividend Announcement

The firm also recently announced 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 of this dividend is Tuesday, May 20th. This represents a $8.56 annualized dividend and a yield of 2.67%. Snap-on's dividend payout ratio (DPR) is presently 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.