Worldquant Millennium Advisors LLC Buys 6,621 Shares of Snap-on Incorporated (NYSE:SNA)

Worldquant Millennium Advisors LLC increased its stake in shares of Snap-on Incorporated (NYSE:SNA - Free Report) by 47.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 20,525 shares of the company's stock after purchasing an additional 6,621 shares during the quarter. Worldquant Millennium Advisors LLC's holdings in Snap-on were worth $6,968,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. UMB Bank n.a. grew its stake in shares of Snap-on by 70.5% during the fourth 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. bought a new position in Snap-on in the fourth quarter valued at approximately $26,000. Migdal Insurance & Financial Holdings Ltd. bought a new position in Snap-on in the fourth quarter valued at approximately $28,000. CoreFirst Bank & Trust bought a new position in Snap-on in the fourth quarter valued at approximately $40,000. Finally, TCTC Holdings LLC boosted its stake in Snap-on by 41.3% in the fourth quarter. TCTC Holdings LLC now owns 147 shares of the company's stock valued at $50,000 after acquiring an additional 43 shares during the last quarter. 84.88% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the stock. Tigress Financial raised their price objective on shares of 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 raised shares of Snap-on from a "hold" rating to a "buy" rating in a research note on Friday, May 16th. Longbow Research raised shares of Snap-on from a "neutral" rating to a "buy" rating and set a $400.00 price objective on the stock in a research note on Monday, March 31st. Robert W. Baird reduced their price objective on shares of 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, Barrington Research reaffirmed an "outperform" rating and issued a $350.00 price objective on shares of Snap-on in a research note on Monday, May 19th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and five have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $350.83.

Insider Buying and Selling at Snap-on

In other Snap-on news, CFO Aldo John Pagliari sold 5,553 shares of Snap-on 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 sale, the chief financial officer now directly owns 109,560 shares in the company, valued at approximately $35,808,590.40. The trade was a 4.82% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Nicholas T. Pinchuk sold 22,700 shares of the business'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 in the company, valued at $266,221,278.24. This represents a 2.78% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 3.90% of the company's stock.

Snap-on Trading Up 1.8%

Shares of NYSE SNA traded up $5.88 during midday trading on Tuesday, reaching $325.17. 67,019 shares of the stock were exchanged, compared to its average volume of 407,038. The business has a 50-day simple moving average of $321.85 and a two-hundred day simple moving average of $337.99. The company has a market capitalization of $17.00 billion, a price-to-earnings ratio of 16.68, a P/E/G ratio of 2.21 and a beta of 0.78. Snap-on Incorporated has a 12 month low of $252.98 and a 12 month high of $373.89. 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 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. As a group, equities research analysts expect that Snap-on Incorporated will post 19.79 EPS for the current year.

Snap-on Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders 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 2.63%. Snap-on's payout ratio is currently 44.82%.

About Snap-on

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.