USS Investment Management Ltd Lowers Stock Holdings in Snap-on Incorporated (NYSE:SNA)

USS Investment Management Ltd lowered its position in shares of Snap-on Incorporated (NYSE:SNA - Free Report) by 39.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 11,276 shares of the company's stock after selling 7,199 shares during the period. USS Investment Management Ltd's holdings in Snap-on were worth $3,828,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its holdings in Snap-on by 0.3% in the fourth 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 during the last quarter. First Trust Advisors LP boosted 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 acquiring an additional 411,317 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of Snap-on by 4.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,806,278 shares of the company's stock worth $613,195,000 after acquiring an additional 77,486 shares during the last quarter. Geode Capital Management LLC boosted 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 acquiring an additional 27,700 shares during the last quarter. Finally, Earnest Partners LLC boosted 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 acquiring an additional 18,209 shares during the last quarter. Hedge funds and other institutional investors own 84.88% of the company's stock.

Analysts Set New Price Targets

Several brokerages have recently weighed in on SNA. Tigress Financial lifted their price target on shares of Snap-on from $385.00 to $390.00 and gave the stock a "buy" rating in a research note on Tuesday, March 4th. Longbow Research upgraded shares of Snap-on from a "neutral" rating to a "buy" rating and set a $400.00 price target on the stock in a research note on Monday, March 31st. Barrington Research reiterated an "outperform" rating and set a $350.00 price target on shares of Snap-on in a research note on Monday, May 19th. Robert W. Baird lowered 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 note on Monday, April 21st. Finally, Wall Street Zen upgraded shares of Snap-on from a "hold" rating to a "buy" rating in a research note 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 company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $350.83.

Snap-on Price Performance

SNA stock traded up $6.29 during mid-day trading on Tuesday, hitting $325.58. The company had a trading volume of 261,910 shares, compared to its average volume of 363,014. The company has a market capitalization of $17.03 billion, a price-to-earnings ratio of 16.70, a P/E/G ratio of 2.21 and a beta of 0.78. Snap-on Incorporated has a 12-month low of $252.98 and a 12-month high of $373.90. The company has a quick ratio of 3.17, a current ratio of 4.15 and a debt-to-equity ratio of 0.22. The company has a 50-day moving average price of $321.85 and a 200 day moving average price of $337.99.

Snap-on (NYSE:SNA - Get Free Report) last released 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). Snap-on had a net margin of 21.71% and a return on equity of 19.20%. The company had revenue of $1.14 billion for the quarter, compared to the consensus estimate of $1.20 billion. During the same period in the prior year, the firm posted $4.91 EPS. On average, research analysts anticipate that Snap-on Incorporated will post 19.79 earnings per share for the current year.

Snap-on Announces Dividend

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 given 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 dividend yield of 2.63%. Snap-on's dividend payout ratio (DPR) is presently 44.82%.

Insider Buying and Selling at Snap-on

In other Snap-on news, CFO Aldo John Pagliari sold 5,553 shares of the business's 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 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 filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Nicholas T. Pinchuk sold 22,700 shares of the business's stock in a transaction dated Thursday, March 27th. The shares were sold at an average price of $335.32, for a total transaction of $7,611,764.00. Following the completion of the sale, the chief executive officer now directly owns 793,932 shares of the company's stock, valued at approximately $266,221,278.24. This trade represents a 2.78% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 3.90% of the company's stock.

Snap-on Company 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.