Wellington Management Group LLP Acquires 901 Shares of Snap-on Incorporated (NYSE:SNA)

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

Several other institutional investors have also recently added to or reduced their stakes in SNA. Bleakley Financial Group LLC bought a new position in Snap-on during the 4th quarter worth approximately $512,000. Vest Financial LLC lifted its holdings in Snap-on by 2.4% during the 4th quarter. Vest Financial LLC now owns 102,987 shares of the company's stock worth $34,962,000 after buying an additional 2,460 shares during the last quarter. Ethic Inc. lifted its holdings in Snap-on by 18.6% during the 4th quarter. Ethic Inc. now owns 9,212 shares of the company's stock worth $3,127,000 after buying an additional 1,445 shares during the last quarter. Empirical Finance LLC lifted its holdings in Snap-on by 45.8% during the 4th quarter. Empirical Finance LLC now owns 5,906 shares of the company's stock worth $2,005,000 after buying an additional 1,856 shares during the last quarter. Finally, Advyzon Investment Management LLC bought a new stake in Snap-on in the fourth quarter valued at $272,000. 84.88% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the company. Tigress Financial increased their price objective 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 issued a $350.00 price objective on shares of Snap-on in a report on Monday, May 19th. Longbow Research raised Snap-on from a "neutral" rating to a "buy" rating and set a $400.00 price target for the company in a research note on Monday, March 31st. Wall Street Zen raised Snap-on from a "hold" rating to a "buy" rating in a research note on Friday, May 16th. Finally, Robert W. Baird decreased their price target on Snap-on from $349.00 to $320.00 and set a "neutral" rating for the company in a research note on Monday, April 21st. One analyst has rated the stock with a sell rating, one has given a hold rating and five have issued a buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $350.83.

Insider Buying and Selling

In other Snap-on news, Director Karen L. Daniel sold 1,090 shares of the stock in a transaction on Thursday, June 5th. The shares were sold at an average price of $319.92, for a total transaction of $348,712.80. Following the transaction, the director now directly owns 8,030 shares of the company's stock, valued at $2,568,957.60. This represents a 11.95% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Nicholas T. Pinchuk sold 22,700 shares of the firm's stock in a transaction dated Thursday, March 27th. The stock was sold at an average price of $335.32, for a total transaction of $7,611,764.00. Following the transaction, the chief executive officer now owns 793,932 shares of the company's stock, valued at approximately $266,221,278.24. This represents a 2.78% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 52,515 shares of company stock worth $17,094,296. Insiders own 3.90% of the company's stock.

Snap-on Price Performance

Shares of NYSE:SNA traded up $2.89 on Friday, reaching $321.91. 207,661 shares of the company traded hands, compared to its average volume of 365,837. The company's 50 day moving average is $319.41 and its 200-day moving average is $335.77. The stock has a market capitalization of $16.83 billion, a PE ratio of 16.51, 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.

Snap-on (NYSE:SNA - Get Free Report) last announced its quarterly earnings data on Thursday, April 17th. The company reported $4.51 earnings per share (EPS) for the quarter, missing the consensus estimate 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 for the quarter, compared to analysts' expectations of $1.20 billion. During the same quarter in the prior year, the business posted $4.91 earnings per share. As a group, analysts anticipate that Snap-on Incorporated will post 19.79 earnings per share 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 issued a $2.14 dividend. The ex-dividend date of this dividend is Tuesday, May 20th. This represents a $8.56 dividend on an annualized basis and a 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.