Xponance Inc. Grows Stock Holdings in Snap-On Incorporated (NYSE:SNA)

Xponance Inc. grew its position in shares of Snap-On Incorporated (NYSE:SNA - Free Report) by 105.0% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 14,421 shares of the company's stock after buying an additional 7,388 shares during the quarter. Xponance Inc.'s holdings in Snap-On were worth $4,860,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in SNA. Ethic Inc. raised its stake in shares of Snap-On by 18.6% in the fourth quarter. Ethic Inc. now owns 9,212 shares of the company's stock worth $3,127,000 after purchasing an additional 1,445 shares during the last quarter. Geode Capital Management LLC raised its position in Snap-On by 1.7% in the 4th quarter. Geode Capital Management LLC now owns 1,641,159 shares of the company's stock worth $556,022,000 after buying an additional 27,700 shares during the last quarter. DAVENPORT & Co LLC bought a new position in Snap-On during the 1st quarter valued at about $218,000. Vontobel Holding Ltd. boosted its holdings in shares of Snap-On by 27.4% during the 1st quarter. Vontobel Holding Ltd. now owns 13,636 shares of the company's stock valued at $4,595,000 after acquiring an additional 2,932 shares during the last quarter. Finally, GAMMA Investing LLC grew its stake in shares of Snap-On by 93.5% in the first quarter. GAMMA Investing LLC now owns 2,086 shares of the company's stock worth $703,000 after acquiring an additional 1,008 shares during the period. 84.88% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

SNA has been the topic of several analyst reports. Robert W. Baird dropped their price target 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. Longbow Research upgraded Snap-On from a "neutral" rating to a "buy" rating and set a $400.00 price target for the company in a research report on Monday, March 31st. Barrington Research reaffirmed an "outperform" rating and set a $350.00 price objective on shares of Snap-On in a research report on Monday, May 19th. Finally, Wall Street Zen raised shares of Snap-On from a "hold" rating to a "buy" rating in a report on Friday, May 16th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the company 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 news, CEO Nicholas T. Pinchuk sold 23,172 shares of the business's stock in a transaction dated Monday, June 2nd. The stock was sold at an average price of $315.85, for a total value of $7,318,876.20. Following the completion of the transaction, the chief executive officer owned 804,510 shares of the company's stock, valued at $254,104,483.50. The trade was a 2.80% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Karen L. Daniel sold 1,090 shares of Snap-On stock in a transaction that occurred 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 directly owned 8,030 shares of the company's stock, valued at approximately $2,568,957.60. This trade represents a 11.95% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 29,815 shares of company stock worth $9,482,532. Company insiders own 3.90% of the company's stock.

Snap-On Stock Up 0.6%

Shares of NYSE SNA traded up $1.79 during midday trading on Monday, reaching $319.36. 377,864 shares of the company's stock traded hands, compared to its average volume of 391,864. The company has a market cap of $16.70 billion, a price-to-earnings ratio of 16.72, a P/E/G ratio of 2.27 and a beta of 0.76. The stock's 50 day simple moving average is $317.94 and its 200-day simple moving average is $328.23. The company has a quick ratio of 3.18, a current ratio of 4.14 and a debt-to-equity ratio of 0.21. Snap-On Incorporated has a one year low of $266.55 and a one year high of $373.89.

Snap-On (NYSE:SNA - Get Free Report) last issued 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). The business had revenue of $1.14 billion for the quarter, compared to analysts' expectations of $1.20 billion. Snap-On had a return on equity of 18.60% and a net margin of 21.42%. During the same quarter in the previous year, the firm posted $4.91 EPS. On average, analysts predict that Snap-On Incorporated will post 19.79 EPS for the current fiscal year.

Snap-On Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Tuesday, May 20th were issued a $2.14 dividend. The ex-dividend date was Tuesday, May 20th. This represents a $8.56 annualized dividend and a yield of 2.68%. Snap-On's dividend payout ratio (DPR) is presently 44.82%.

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.