Mercer Global Advisors Inc. ADV Reduces Position in Snap-on Incorporated (NYSE:SNA)

Mercer Global Advisors Inc. ADV reduced its holdings in Snap-on Incorporated (NYSE:SNA - Free Report) by 4.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 74,127 shares of the company's stock after selling 3,829 shares during the period. Mercer Global Advisors Inc. ADV owned about 0.14% of Snap-on worth $25,165,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Itau Unibanco Holding S.A. lifted its position in Snap-on by 136.7% during the 4th quarter. Itau Unibanco Holding S.A. now owns 3,908 shares of the company's stock worth $1,327,000 after acquiring an additional 2,257 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec raised its stake in shares of Snap-on by 28.5% in the fourth quarter. Caisse DE Depot ET Placement DU Quebec now owns 330,948 shares of the company's stock valued at $112,350,000 after acquiring an additional 73,498 shares during the last quarter. Rehmann Capital Advisory Group raised its position in Snap-on by 7.2% in the 4th quarter. Rehmann Capital Advisory Group now owns 1,213 shares of the company's stock valued at $412,000 after purchasing an additional 81 shares during the last quarter. Voleon Capital Management LP acquired a new position in Snap-on in the fourth quarter worth $331,000. Finally, Lido Advisors LLC grew its holdings in shares of Snap-on by 81.5% during the fourth quarter. Lido Advisors LLC now owns 1,884 shares of the company's stock worth $639,000 after purchasing an additional 846 shares during the last quarter. 84.88% of the stock is currently owned by institutional investors and hedge funds.

Snap-on Stock Performance

Shares of SNA traded down $2.57 during mid-day trading on Monday, hitting $314.38. The stock had a trading volume of 275,432 shares, compared to its average volume of 359,044. The business has a fifty day moving average price of $325.49 and a 200-day moving average price of $339.32. The firm has a market cap of $16.44 billion, a P/E ratio of 16.12, a PEG ratio of 2.21 and a beta of 0.84. Snap-on Incorporated has a 52 week low of $252.98 and a 52 week high of $373.90. 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 announced its 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). Snap-on had a return on equity of 19.20% and a net margin of 21.71%. The business had revenue of $1.14 billion during the quarter, compared to the consensus estimate of $1.20 billion. During the same quarter in the prior year, the company earned $4.91 earnings per share. On average, equities research analysts expect that Snap-on Incorporated will post 19.79 EPS for the current year.

Snap-on Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Tuesday, May 20th will be paid a dividend of $2.14 per share. This represents a $8.56 dividend on an annualized basis and a yield of 2.72%. The ex-dividend date of this dividend is Tuesday, May 20th. Snap-on's payout ratio is 44.82%.

Analyst Ratings Changes

Several research analysts have issued reports on the company. Barrington Research reaffirmed an "outperform" rating and set a $350.00 price objective on shares of Snap-on in a report on Thursday, April 17th. Longbow Research raised 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. Robert W. Baird cut their price objective on Snap-on from $349.00 to $320.00 and set a "neutral" rating for the company in a report on Monday, April 21st. Tigress Financial lifted their target price on shares of Snap-on from $385.00 to $390.00 and gave the stock a "buy" rating in a report on Tuesday, March 4th. Finally, StockNews.com downgraded shares of Snap-on from a "buy" rating to a "hold" rating in a report on Friday, April 18th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $350.83.

Insider Buying and Selling

In related news, CEO Nicholas T. Pinchuk sold 22,700 shares of Snap-on stock in a transaction on Thursday, March 27th. The shares were 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 approximately $266,221,278.24. The trade was a 2.78 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Jesus Arregui sold 6,451 shares of the stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $337.81, for a total value of $2,179,212.31. Following the sale, the senior vice president now owns 257 shares of the company's stock, valued at $86,817.17. This represents a 96.17 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 36,011 shares of company stock worth $12,116,859 in the last three months. Insiders own 3.90% of the company's stock.

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.