Snap-on Incorporated (NYSE:SNA) Holdings Cut by Two Sigma Advisers LP

Two Sigma Advisers LP lowered its holdings in Snap-on Incorporated (NYSE:SNA - Free Report) by 87.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 7,000 shares of the company's stock after selling 51,000 shares during the period. Two Sigma Advisers LP's holdings in Snap-on were worth $2,376,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in SNA. Barclays PLC increased its stake in shares of Snap-on by 1.8% in the third quarter. Barclays PLC now owns 100,262 shares of the company's stock valued at $29,044,000 after purchasing an additional 1,803 shares during the period. Janney Montgomery Scott LLC boosted its holdings in shares of Snap-on by 2.2% in the fourth quarter. Janney Montgomery Scott LLC now owns 23,614 shares of the company's stock valued at $8,017,000 after acquiring an additional 512 shares in the last quarter. Blue Trust Inc. boosted its holdings in shares of Snap-on by 6.3% in the fourth quarter. Blue Trust Inc. now owns 3,821 shares of the company's stock valued at $1,297,000 after acquiring an additional 225 shares in the last quarter. KBC Group NV boosted its holdings in shares of Snap-on by 177.4% in the fourth quarter. KBC Group NV now owns 42,820 shares of the company's stock valued at $14,536,000 after acquiring an additional 27,383 shares in the last quarter. Finally, Perigon Wealth Management LLC boosted its holdings in Snap-on by 9.5% during the fourth quarter. Perigon Wealth Management LLC now owns 868 shares of the company's stock worth $300,000 after buying an additional 75 shares in the last quarter. Institutional investors and hedge funds own 84.88% of the company's stock.

Insider Buying and Selling

In other Snap-on news, CEO Nicholas T. Pinchuk sold 22,700 shares of the stock in a transaction that occurred on Thursday, March 27th. The shares were sold at an average price of $335.32, for a total value of $7,611,764.00. Following the completion of the sale, the chief executive officer now owns 793,932 shares in the company, valued at $266,221,278.24. This represents a 2.78% decrease in their position. The transaction was disclosed in a filing 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 that occurred 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 sale, the chief financial officer now owns 109,560 shares of the company's stock, valued at approximately $35,808,590.40. The trade was a 4.82% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 51,425 shares of company stock valued at $16,745,583. Company insiders own 3.90% of the company's stock.

Snap-on Trading Down 1.3%

Snap-on stock traded down $4.22 during midday trading on Monday, reaching $316.53. The stock had a trading volume of 363,713 shares, compared to its average volume of 364,140. The firm's fifty day simple moving average is $320.59 and its two-hundred day simple moving average is $336.64. Snap-on Incorporated has a twelve month low of $252.98 and a twelve month high of $373.90. The company has a debt-to-equity ratio of 0.22, a current ratio of 4.15 and a quick ratio of 3.17. The firm has a market cap of $16.55 billion, a price-to-earnings ratio of 16.23, a PEG ratio of 2.21 and a beta of 0.78.

Snap-on (NYSE:SNA - Get Free Report) last posted its quarterly earnings data 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 19.20% and a net margin of 21.71%. The firm had revenue of $1.14 billion during the quarter, compared to analyst estimates of $1.20 billion. During the same period in the prior year, the business posted $4.91 EPS. Equities analysts anticipate that Snap-on Incorporated will post 19.79 EPS for the current fiscal year.

Snap-on Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Tuesday, May 20th will be paid a $2.14 dividend. This represents a $8.56 dividend on an annualized basis and a yield of 2.70%. The ex-dividend date of this dividend is Tuesday, May 20th. Snap-on's dividend payout ratio is 44.82%.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. Tigress Financial raised their target price 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. Wall Street Zen upgraded shares of Snap-on from a "hold" rating to a "buy" rating in a 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 for the company in a report on Monday, March 31st. Robert W. Baird reduced their target price on shares of Snap-on from $349.00 to $320.00 and set a "neutral" rating for the company in a report on Monday, April 21st. Finally, Barrington Research restated an "outperform" rating and set a $350.00 target price on shares of Snap-on in a report on Monday, May 19th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $350.83.

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.