Snap-on Incorporated (NYSE:SNA) Shares Sold by Jefferies Financial Group Inc.

Jefferies Financial Group Inc. trimmed its position in shares of Snap-on Incorporated (NYSE:SNA - Free Report) by 92.9% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,477 shares of the company's stock after selling 32,523 shares during the period. Jefferies Financial Group Inc.'s holdings in Snap-on were worth $841,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Raymond James Financial Inc. bought a new position in Snap-on in the fourth quarter worth approximately $148,839,000. Norges Bank bought a new position in shares of Snap-on during the 4th quarter worth $145,342,000. First Trust Advisors LP grew its position in shares of Snap-on by 29.2% during the 4th quarter. First Trust Advisors LP now owns 1,819,403 shares of the company's stock worth $617,651,000 after buying an additional 411,317 shares in the last quarter. Proficio Capital Partners LLC purchased a new position in shares of Snap-on during the fourth quarter valued at $57,738,000. Finally, Northern Trust Corp lifted its stake in Snap-on by 22.4% in the fourth quarter. Northern Trust Corp now owns 798,254 shares of the company's stock worth $270,991,000 after acquiring an additional 145,861 shares during the period. 84.88% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Snap-on news, CEO Nicholas T. Pinchuk sold 22,700 shares of the company's stock in a transaction on Thursday, March 27th. The shares were sold at an average price of $335.32, for a total value of $7,611,764.00. Following the sale, the chief executive officer now directly owns 793,932 shares of the company's stock, 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 Securities & Exchange Commission, which can be accessed through this link. Also, CFO Aldo John Pagliari sold 6,860 shares of the 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 sale, the chief financial officer now directly owns 107,096 shares in the company, valued at $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. In the last 90 days, insiders sold 35,113 shares of company stock valued at $11,752,590. 3.90% of the stock is owned by company insiders.

Snap-on Stock Up 0.0%

Snap-on stock traded up $0.11 during midday trading on Monday, reaching $331.84. The company's stock had a trading volume of 257,045 shares, compared to its average volume of 361,329. The company has a debt-to-equity ratio of 0.22, a current ratio of 4.15 and a quick ratio of 3.17. The stock has a market capitalization of $17.35 billion, a P/E ratio of 17.02, a PEG ratio of 2.21 and a beta of 0.78. The stock's 50-day simple moving average is $322.45 and its 200-day simple moving average is $338.84. Snap-on Incorporated has a 52-week low of $252.98 and a 52-week high of $373.90.

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 analysts' consensus estimates 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 business posted $4.91 EPS. On average, sell-side analysts expect that Snap-on Incorporated will post 19.79 EPS for the current year.

Snap-on Dividend Announcement

The company 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 is Tuesday, May 20th. This represents a $8.56 dividend on an annualized basis and a yield of 2.58%. Snap-on's dividend payout ratio (DPR) is 44.82%.

Analysts Set New Price Targets

A number of research analysts have commented on the stock. Robert W. Baird cut their target price on shares of Snap-on from $349.00 to $320.00 and set a "neutral" rating on the stock in a research report on Monday, April 21st. Tigress Financial upped their target price on Snap-on from $385.00 to $390.00 and gave the stock a "buy" rating in a report on Tuesday, March 4th. 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 report on Monday, March 31st. StockNews.com raised Snap-on from a "hold" rating to a "buy" rating in a research report on Friday. Finally, Barrington Research reaffirmed an "outperform" rating and set a $350.00 price objective on shares of Snap-on in a research report on Monday. One investment analyst has rated the stock with a sell rating, one has given a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $350.83.

Snap-on 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.