First Manhattan CO. LLC. Decreases Stock Holdings in Snap-on Incorporated (NYSE:SNA)

First Manhattan CO. LLC. decreased its position in Snap-on Incorporated (NYSE:SNA - Free Report) by 1.8% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 85,681 shares of the company's stock after selling 1,543 shares during the period. First Manhattan CO. LLC. owned about 0.16% of Snap-on worth $29,087,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its holdings in Snap-on by 0.3% in the fourth quarter. Vanguard Group Inc. now owns 6,404,599 shares of the company's stock valued at $2,174,233,000 after acquiring an additional 19,328 shares in the last quarter. 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 acquiring an additional 411,317 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in Snap-on by 4.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,806,278 shares of the company's stock valued at $613,195,000 after acquiring an additional 77,486 shares in the last quarter. Geode Capital Management LLC boosted its holdings in Snap-on by 1.7% in the fourth quarter. Geode Capital Management LLC now owns 1,641,159 shares of the company's stock valued at $556,022,000 after acquiring an additional 27,700 shares in the last quarter. Finally, Earnest Partners LLC boosted its holdings in Snap-on by 1.9% in the fourth quarter. Earnest Partners LLC now owns 963,866 shares of the company's stock valued at $327,213,000 after acquiring an additional 18,209 shares in the last quarter. Institutional investors own 84.88% of the company's stock.

Insider Transactions at Snap-on

In other Snap-on news, CFO Aldo John Pagliari sold 6,860 shares of the business's stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $339.05, for a total value of $2,325,883.00. Following the completion of the transaction, the chief financial officer now owns 107,096 shares of the company's stock, valued at approximately $36,310,898.80. The trade was a 6.02% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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 value of $7,611,764.00. Following the completion of the transaction, the chief executive officer now directly owns 793,932 shares of the company's stock, valued at approximately $266,221,278.24. This trade represents a 2.78% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 36,011 shares of company stock valued at $12,116,859 in the last quarter. 3.90% of the stock is owned by insiders.

Snap-on Stock Down 0.4%

Shares of SNA stock traded down $1.32 during mid-day trading on Friday, reaching $315.63. 158,547 shares of the company's stock traded hands, compared to its average volume of 361,067. Snap-on Incorporated has a 12 month low of $252.98 and a 12 month high of $373.90. The company has a market cap of $16.50 billion, a P/E ratio of 16.19, a P/E/G ratio of 2.21 and a beta of 0.78. The company has a quick ratio of 3.17, a current ratio of 4.15 and a debt-to-equity ratio of 0.22. The company's 50-day moving average price is $323.38 and its 200-day moving average price is $338.95.

Snap-on (NYSE:SNA - Get Free Report) last posted its quarterly earnings results 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). The company had revenue of $1.14 billion during the quarter, compared to analysts' expectations of $1.20 billion. Snap-on had a return on equity of 19.20% and a net margin of 21.71%. During the same period in the prior year, the firm earned $4.91 EPS. On average, equities analysts expect that Snap-on Incorporated will post 19.79 earnings per share for the current fiscal year.

Snap-on Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Tuesday, May 20th will be given a $2.14 dividend. This represents a $8.56 annualized dividend and a dividend yield of 2.71%. The ex-dividend date is Tuesday, May 20th. Snap-on's dividend payout ratio is presently 44.82%.

Analyst Ratings Changes

Several analysts recently weighed in on the stock. Robert W. Baird cut their price target on shares of Snap-on from $349.00 to $320.00 and set a "neutral" rating on the stock in a report on Monday, April 21st. Tigress Financial boosted their target price on shares of Snap-on from $385.00 to $390.00 and gave the company a "buy" rating in a report on Tuesday, March 4th. Barrington Research restated an "outperform" rating and set a $350.00 target price on shares of Snap-on in a report on Thursday, April 17th. Longbow Research upgraded shares of Snap-on from a "neutral" rating to a "buy" rating and set a $400.00 target price on the stock in a report on Monday, March 31st. Finally, StockNews.com upgraded shares of Snap-on from a "hold" rating to a "buy" rating in a report on Wednesday. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and five have given a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $350.83.

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.