Snap-on Incorporated (NYSE:SNA) Shares Purchased by Wellington Management Group LLP

Wellington Management Group LLP lifted its position in Snap-on Incorporated (NYSE:SNA - Free Report) by 5.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 17,220 shares of the company's stock after purchasing an additional 901 shares during the quarter. Wellington Management Group LLP's holdings in Snap-on were worth $5,846,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Raymond James Financial Inc. acquired a new stake in Snap-on during the 4th quarter valued at approximately $148,839,000. Norges Bank acquired a new position in Snap-on during the fourth quarter valued at $145,342,000. First Trust Advisors LP boosted its holdings in Snap-on by 29.2% in the fourth quarter. First Trust Advisors LP now owns 1,819,403 shares of the company's stock valued at $617,651,000 after purchasing an additional 411,317 shares during the last quarter. Proficio Capital Partners LLC acquired a new stake in Snap-on during the 4th quarter worth about $57,738,000. Finally, Northern Trust Corp raised its stake in shares of Snap-on by 22.4% during the 4th quarter. Northern Trust Corp now owns 798,254 shares of the company's stock valued at $270,991,000 after buying an additional 145,861 shares during the last quarter. Institutional investors and hedge funds own 84.88% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on SNA shares. Tigress Financial upped their target price on Snap-on from $385.00 to $390.00 and gave the stock a "buy" rating in a research note on Tuesday, March 4th. Wall Street Zen upgraded Snap-on from a "hold" rating to a "buy" rating in a research report on Friday, May 16th. Barrington Research reiterated an "outperform" rating and issued a $350.00 price objective on shares of Snap-on in a report on Monday, May 19th. Robert W. Baird dropped 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. Finally, Longbow Research upgraded Snap-on from a "neutral" rating to a "buy" rating and set a $400.00 price objective on the stock in a research report on Monday, March 31st. One research 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. According to data from MarketBeat.com, Snap-on has a consensus rating of "Moderate Buy" and an average target price of $350.83.

Snap-on Trading Down 0.5%

SNA traded down $1.46 during trading hours on Thursday, reaching $318.63. The company's stock had a trading volume of 226,800 shares, compared to its average volume of 364,009. The stock has a market cap of $16.66 billion, a PE ratio of 16.34, a P/E/G 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 company has a debt-to-equity ratio of 0.22, a current ratio of 4.15 and a quick ratio of 3.17. The business's 50-day moving average is $320.13 and its 200-day moving average is $336.42.

Snap-on (NYSE:SNA - Get Free Report) last issued its quarterly earnings data on Thursday, April 17th. The company reported $4.51 earnings per share (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 business had revenue of $1.14 billion for the quarter, compared to analyst estimates of $1.20 billion. During the same period in the previous year, the business posted $4.91 earnings per share. As a group, equities research analysts predict that Snap-on Incorporated will post 19.79 earnings per share for the current fiscal year.

Snap-on Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Tuesday, May 20th will be given a dividend of $2.14 per share. The ex-dividend date is Tuesday, May 20th. This represents a $8.56 dividend on an annualized basis and a dividend yield of 2.69%. Snap-on's payout ratio is currently 44.82%.

Insider Activity at Snap-on

In other Snap-on news, CFO Aldo John Pagliari sold 5,553 shares of the stock in a transaction that occurred on 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 sale, the chief financial officer now directly owns 109,560 shares of the company's stock, valued at approximately $35,808,590.40. This represents a 4.82% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Nicholas T. Pinchuk sold 23,172 shares of the firm's stock in a transaction 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 owns 804,510 shares in the company, valued at $254,104,483.50. The trade was a 2.80% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 51,425 shares of company stock worth $16,745,583. 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.