MML Investors Services LLC Purchases 2,914 Shares of Snap-on Incorporated (NYSE:SNA)

MML Investors Services LLC raised its position in shares of Snap-on Incorporated (NYSE:SNA - Free Report) by 2.6% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 114,306 shares of the company's stock after purchasing an additional 2,914 shares during the quarter. MML Investors Services LLC owned 0.22% of Snap-on worth $38,805,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of SNA. Raymond James Financial Inc. bought a new stake in shares of Snap-on during the fourth quarter valued at approximately $148,839,000. Norges Bank bought a new stake in shares of Snap-on in the 4th quarter worth $145,342,000. First Trust Advisors LP boosted its position in shares of Snap-on by 29.2% during the fourth quarter. First Trust Advisors LP now owns 1,819,403 shares of the company's stock valued at $617,651,000 after buying an additional 411,317 shares during the last quarter. Proficio Capital Partners LLC bought a new stake in Snap-on in the 4th quarter worth about $57,738,000. Finally, Nordea Investment Management AB raised its position in Snap-on by 12.8% in the 4th quarter. Nordea Investment Management AB now owns 1,128,317 shares of the company's stock worth $384,813,000 after buying an additional 127,859 shares during the last quarter. 84.88% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

SNA has been the topic of a number of recent 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 report on Monday, April 21st. Barrington Research reaffirmed an "outperform" rating and issued a $350.00 target price on shares of Snap-on in a research 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 on the stock in a report on Monday, March 31st. Tigress Financial lifted their price objective on 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 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 assigned 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 an average target price of $350.83.

Insider Activity at Snap-on

In related news, CEO Nicholas T. Pinchuk sold 22,700 shares of the business's stock in a transaction that occurred on 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 transaction, the chief executive officer now directly owns 793,932 shares of the company's stock, valued at approximately $266,221,278.24. The trade was a 2.78 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Aldo John Pagliari sold 6,860 shares of the stock in a transaction that occurred on 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 directly owns 107,096 shares of the company's stock, valued at approximately $36,310,898.80. This trade represents a 6.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 36,011 shares of company stock worth $12,116,859. 3.90% of the stock is owned by corporate insiders.

Snap-on Stock Performance

NYSE SNA traded down $2.10 on Friday, hitting $308.64. 262,956 shares of the company traded hands, compared to its average volume of 357,221. The company has a current ratio of 4.15, a quick ratio of 3.17 and a debt-to-equity ratio of 0.22. The business's 50 day moving average price is $328.13 and its 200-day moving average price is $338.23. The company has a market capitalization of $16.18 billion, a price-to-earnings ratio of 15.83, a P/E/G 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.

Snap-on (NYSE:SNA - Get Free Report) last announced its quarterly earnings data 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). Snap-on had a net margin of 21.71% and a return on equity of 19.20%. The company had revenue of $1.14 billion for the quarter, compared to the consensus estimate of $1.20 billion. During the same quarter last year, the firm posted $4.91 earnings per share. Equities analysts expect 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. Stockholders of record on Tuesday, May 20th will be given a dividend of $2.14 per share. The ex-dividend date of this dividend is Tuesday, May 20th. This represents a $8.56 annualized dividend and a dividend yield of 2.77%. Snap-on's payout ratio is 44.82%.

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.