Gamco Investors INC. ET AL Sells 1,665 Shares of Snap-on Incorporated (NYSE:SNA)

Gamco Investors INC. ET AL lessened its stake in Snap-on Incorporated (NYSE:SNA - Free Report) by 46.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,905 shares of the company's stock after selling 1,665 shares during the period. Gamco Investors INC. ET AL's holdings in Snap-on were worth $647,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in SNA. UMB Bank n.a. raised its stake in shares of Snap-on by 70.5% during the 4th quarter. UMB Bank n.a. now owns 75 shares of the company's stock worth $25,000 after purchasing an additional 31 shares during the period. SBI Securities Co. Ltd. purchased a new stake in Snap-on in the 4th quarter worth approximately $26,000. Migdal Insurance & Financial Holdings Ltd. purchased a new position in shares of Snap-on during the fourth quarter worth about $28,000. CoreFirst Bank & Trust bought a new position in shares of Snap-on in the 4th quarter worth $40,000. Finally, TCTC Holdings LLC raised its position in Snap-on by 41.3% during the fourth quarter. TCTC Holdings LLC now owns 147 shares of the company's stock valued at $50,000 after purchasing an additional 43 shares in the last quarter. Institutional investors and hedge funds own 84.88% of the company's stock.

Insider Activity

In other Snap-on news, SVP Jesus Arregui sold 6,451 shares of the business's stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $337.81, for a total transaction of $2,179,212.31. Following the completion of the transaction, the senior vice president now directly owns 257 shares of the company's stock, valued at $86,817.17. The trade was a 96.17 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Aldo John Pagliari sold 6,860 shares of Snap-on stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $339.05, for a total transaction of $2,325,883.00. Following the sale, the chief financial officer now owns 107,096 shares in the company, valued at approximately $36,310,898.80. This represents a 6.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 36,011 shares of company stock worth $12,116,859 over the last ninety days. Corporate insiders own 3.90% of the company's stock.

Analyst Ratings Changes

SNA has been the topic of several recent research reports. 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 report on Monday, March 31st. Barrington Research reissued an "outperform" rating and issued a $350.00 target price on shares of Snap-on in a report on Thursday, April 17th. Robert W. Baird decreased their target price on shares of Snap-on from $349.00 to $320.00 and set a "neutral" rating for the company in a research note on Monday. Tigress Financial boosted their price objective on shares of Snap-on from $385.00 to $390.00 and gave the company a "buy" rating in a research report on Tuesday, March 4th. Finally, StockNews.com cut shares of Snap-on from a "buy" rating to a "hold" rating in a research note on Friday, April 18th. One analyst has rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $350.83.

Snap-on Stock Down 0.7 %

Shares of NYSE SNA traded down $2.04 during mid-day trading on Friday, reaching $308.70. The company had a trading volume of 68,364 shares, compared to its average volume of 435,217. The firm has a 50 day simple moving average of $328.80 and a two-hundred day simple moving average of $338.07. Snap-on Incorporated has a 52-week low of $252.98 and a 52-week high of $373.89. The stock has a market cap of $16.18 billion, a P/E ratio of 15.83, a PEG ratio of 2.21 and a beta of 0.84. The company has a current ratio of 4.15, a quick ratio of 3.17 and a debt-to-equity ratio of 0.22.

Snap-on (NYSE:SNA - Get Free Report) last issued its earnings results 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 for 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 quarter in the previous year, the firm posted $4.91 earnings per share. Sell-side analysts predict that Snap-on Incorporated will post 19.79 earnings per share for the current year.

Snap-on Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Tuesday, May 20th will be issued a $2.14 dividend. This represents a $8.56 dividend on an annualized basis and a yield of 2.77%. Snap-on's dividend payout ratio is currently 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.