Woodline Partners LP Invests $1.07 Million in Snap-on Incorporated (NYSE:SNA)

Woodline Partners LP purchased a new position in shares of Snap-on Incorporated (NYSE:SNA - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 3,153 shares of the company's stock, valued at approximately $1,070,000.

A number of other hedge funds have also recently added to or reduced their stakes in SNA. UMB Bank n.a. grew its stake 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 valued at $25,000 after purchasing an additional 31 shares during the last quarter. SBI Securities Co. Ltd. purchased a new position in shares of Snap-on in the 4th quarter valued at approximately $26,000. Migdal Insurance & Financial Holdings Ltd. purchased a new position in shares of Snap-on in the 4th quarter valued at approximately $28,000. CoreFirst Bank & Trust purchased a new position in shares of Snap-on in the 4th quarter valued at approximately $40,000. Finally, TCTC Holdings LLC grew its stake in shares of Snap-on by 41.3% in the 4th quarter. TCTC Holdings LLC now owns 147 shares of the company's stock valued at $50,000 after purchasing an additional 43 shares during the last quarter. Hedge funds and other institutional investors own 84.88% of the company's stock.

Insider Activity at Snap-on

In related news, CEO Nicholas T. Pinchuk sold 22,700 shares of the company's stock in a transaction on Thursday, March 27th. The stock was sold at an average price of $335.32, for a total value of $7,611,764.00. Following the completion of the transaction, the chief executive officer now directly owns 793,932 shares in the company, valued at approximately $266,221,278.24. This represents a 2.78% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Aldo John Pagliari sold 5,553 shares of the company's stock in a transaction 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 completion of the transaction, the chief financial officer now owns 109,560 shares of the company's stock, valued at $35,808,590.40. The trade was a 4.82% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 3.90% of the company's stock.

Snap-on Price Performance

SNA stock traded down $1.68 during midday trading on Friday, hitting $320.68. 631,514 shares of the stock were exchanged, compared to its average volume of 364,144. The stock's 50-day moving average price is $321.01 and its 200-day moving average price is $337.07. The stock has a market cap of $16.77 billion, a price-to-earnings ratio of 16.45, a PEG 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 quick ratio of 3.17 and a current ratio of 4.15.

Snap-on (NYSE:SNA - Get Free Report) last released 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). Snap-on had a return on equity of 19.20% and a net margin of 21.71%. The company had revenue of $1.14 billion during the quarter, compared to analyst estimates of $1.20 billion. During the same period last year, the firm earned $4.91 earnings per share. Research analysts predict that Snap-on Incorporated will post 19.79 earnings per share for the current year.

Snap-on Announces Dividend

The firm also recently announced 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. The ex-dividend date of this dividend is Tuesday, May 20th. This represents a $8.56 annualized dividend and a yield of 2.67%. Snap-on's payout ratio is currently 44.82%.

Wall Street Analysts Forecast Growth

SNA has been the topic of several analyst reports. Tigress Financial lifted their target price on Snap-on from $385.00 to $390.00 and gave the company 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 note on Friday, May 16th. Barrington Research restated an "outperform" rating and issued a $350.00 price target on shares of Snap-on in a research note on Monday, May 19th. Robert W. Baird decreased their price target on Snap-on from $349.00 to $320.00 and set a "neutral" rating on the stock in a research note on Monday, April 21st. Finally, Longbow Research upgraded Snap-on from a "neutral" rating to a "buy" rating and set a $400.00 price target on the stock in a research note on Monday, March 31st. One investment 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's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $350.83.

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.