Voloridge Investment Management LLC Sells 75,763 Shares of Snap-on Incorporated (NYSE:SNA)

Voloridge Investment Management LLC lessened its holdings in Snap-on Incorporated (NYSE:SNA - Free Report) by 46.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 86,536 shares of the company's stock after selling 75,763 shares during the quarter. Voloridge Investment Management LLC owned approximately 0.16% of Snap-on worth $29,377,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of SNA. Greenleaf Trust boosted its stake in Snap-on by 3.1% in the fourth quarter. Greenleaf Trust now owns 1,013 shares of the company's stock valued at $344,000 after acquiring an additional 30 shares during the last quarter. UMB Bank n.a. boosted its position in shares of Snap-on by 70.5% in the 4th quarter. UMB Bank n.a. now owns 75 shares of the company's stock worth $25,000 after purchasing an additional 31 shares during the last quarter. WCM Investment Management LLC grew its stake in shares of Snap-on by 4.5% during the fourth quarter. WCM Investment Management LLC now owns 727 shares of the company's stock worth $247,000 after purchasing an additional 31 shares during the period. New York Life Investment Management LLC increased its holdings in Snap-on by 0.4% in the fourth quarter. New York Life Investment Management LLC now owns 7,106 shares of the company's stock valued at $2,412,000 after purchasing an additional 31 shares during the last quarter. Finally, TrinityPoint Wealth LLC increased its holdings in Snap-on by 0.8% in the fourth quarter. TrinityPoint Wealth LLC now owns 4,164 shares of the company's stock valued at $1,414,000 after purchasing an additional 33 shares during the last quarter. Institutional investors and hedge funds own 84.88% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the company. Tigress Financial raised their target price on Snap-on from $385.00 to $390.00 and gave the stock a "buy" rating in a report on Tuesday, March 4th. Barrington Research reissued an "outperform" rating and set a $350.00 price objective on shares of Snap-on in a research note on Monday. Robert W. Baird lowered their target price on shares of Snap-on from $349.00 to $320.00 and set a "neutral" rating for the company in a research note on Monday, April 21st. Longbow Research upgraded shares of Snap-on from a "neutral" rating to a "buy" rating and set a $400.00 target price on the stock in a report on Monday, March 31st. Finally, StockNews.com raised shares of Snap-on from a "hold" rating to a "buy" rating in a report on Friday, May 16th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and five have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $350.83.

Insider Transactions at Snap-on

In other news, CEO Nicholas T. Pinchuk sold 22,700 shares of the firm's stock in a transaction that occurred on 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 transaction, the chief executive officer now directly owns 793,932 shares of the company's stock, valued at $266,221,278.24. This trade represents a 2.78% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 sale, the chief financial officer now directly owns 109,560 shares in the company, valued at approximately $35,808,590.40. This represents a 4.82% decrease in their position. The disclosure for this sale can be found here. 3.90% of the stock is owned by insiders.

Snap-on Stock Performance

Shares of SNA stock opened at $322.23 on Thursday. The company has a market capitalization of $16.85 billion, a P/E ratio of 16.52, a price-to-earnings-growth ratio of 2.21 and a beta of 0.78. Snap-on Incorporated has a 52 week low of $252.98 and a 52 week high of $373.90. 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's 50 day moving average price is $322.47 and its two-hundred day moving average price is $338.65.

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 the consensus estimate of $4.81 by ($0.30). The company 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 period in the prior year, the firm posted $4.91 earnings per share. On average, analysts expect that Snap-on Incorporated will post 19.79 earnings per share for the current fiscal year.

Snap-on Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders 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 2.66%. 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.

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