Snap-on Incorporated (NYSE:SNA) Stake Increased by Vest Financial LLC

Vest Financial LLC raised its stake in Snap-on Incorporated (NYSE:SNA - Free Report) by 26.9% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 130,651 shares of the company's stock after acquiring an additional 27,664 shares during the period. Vest Financial LLC owned 0.25% of Snap-on worth $44,031,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently added to or reduced their stakes in the company. SBI Securities Co. Ltd. acquired a new stake in Snap-on during the 4th quarter worth approximately $26,000. Migdal Insurance & Financial Holdings Ltd. purchased a new position in Snap-on during the 4th quarter valued at about $28,000. CoreFirst Bank & Trust purchased a new stake in shares of Snap-on in the fourth quarter valued at $40,000. TCTC Holdings LLC grew its holdings in shares of Snap-on by 41.3% during the fourth quarter. TCTC Holdings LLC now owns 147 shares of the company's stock worth $50,000 after buying an additional 43 shares in the last quarter. Finally, Mizuho Bank Ltd. purchased a new position in shares of Snap-on during the 4th quarter worth $61,000. Institutional investors and hedge funds own 84.88% of the company's stock.

Insider Activity at Snap-on

In other news, CEO Nicholas T. Pinchuk sold 23,172 shares of the firm's stock in a transaction dated 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 transaction, the chief executive officer now owns 804,510 shares in the company, valued at approximately $254,104,483.50. This trade represents a 2.80% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Karen L. Daniel sold 1,090 shares of Snap-on stock in a transaction that occurred on Thursday, June 5th. The stock was sold at an average price of $319.92, for a total transaction of $348,712.80. Following the completion of the transaction, the director now owns 8,030 shares in the company, valued at approximately $2,568,957.60. This trade represents a 11.95% decrease in their position. The disclosure for this sale can be found here. Insiders sold 52,515 shares of company stock worth $17,094,296 in the last 90 days. 3.90% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

SNA has been the topic of several research analyst reports. Wall Street Zen raised shares of Snap-on from a "hold" rating to a "buy" rating in a research report on Friday, May 16th. Robert W. Baird lowered their price target on Snap-on from $349.00 to $320.00 and set a "neutral" rating for the company in a research report on Monday, April 21st. Longbow Research raised Snap-on from a "neutral" rating to a "buy" rating and set a $400.00 price objective on the stock in a research note on Monday, March 31st. 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. Finally, Tigress Financial raised their price objective on Snap-on from $385.00 to $390.00 and gave the company a "buy" rating in a research report on Tuesday, March 4th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and five have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $350.83.

Snap-on Stock Down 0.3%

Shares of Snap-on stock traded down $0.94 during trading on Monday, reaching $320.73. The company had a trading volume of 254,144 shares, compared to its average volume of 365,391. The company has a debt-to-equity ratio of 0.22, a quick ratio of 3.17 and a current ratio of 4.15. The company has a market cap of $16.77 billion, a price-to-earnings ratio of 16.45, a price-to-earnings-growth ratio of 2.21 and a beta of 0.78. Snap-on Incorporated has a fifty-two week low of $252.98 and a fifty-two week high of $373.90. The firm's fifty day moving average is $318.98 and its 200-day moving average is $335.28.

Snap-on (NYSE:SNA - Get Free Report) last issued its quarterly earnings results on Thursday, April 17th. The company reported $4.51 earnings per share for the quarter, missing analysts' consensus estimates of $4.81 by ($0.30). The firm had revenue of $1.14 billion during the quarter, compared to the consensus estimate of $1.20 billion. Snap-on had a net margin of 21.71% and a return on equity of 19.20%. During the same quarter last year, the firm posted $4.91 earnings per share. On average, analysts anticipate that Snap-on Incorporated will post 19.79 EPS for the current 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 issued a $2.14 dividend. The ex-dividend date is Tuesday, May 20th. This represents a $8.56 dividend on an annualized basis and a yield of 2.67%. Snap-on's dividend payout ratio is currently 44.82%.

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.