OMERS ADMINISTRATION Corp Trims Stake in Snap-on Incorporated (NYSE:SNA)

OMERS ADMINISTRATION Corp reduced its stake in Snap-on Incorporated (NYSE:SNA - Free Report) by 27.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,398 shares of the company's stock after selling 2,433 shares during the quarter. OMERS ADMINISTRATION Corp's holdings in Snap-on were worth $2,172,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Raymond James Financial Inc. acquired a new stake in shares of Snap-on during the 4th quarter worth about $148,839,000. Norges Bank purchased a new position in shares of Snap-on during the fourth quarter valued at approximately $145,342,000. First Trust Advisors LP boosted its position in Snap-on by 29.2% during the fourth quarter. First Trust Advisors LP now owns 1,819,403 shares of the company's stock worth $617,651,000 after acquiring an additional 411,317 shares during the last quarter. Proficio Capital Partners LLC purchased a new stake in Snap-on in the 4th quarter worth approximately $57,738,000. Finally, Northern Trust Corp raised its holdings in Snap-on by 22.4% in the 4th quarter. Northern Trust Corp now owns 798,254 shares of the company's stock valued at $270,991,000 after acquiring an additional 145,861 shares during the last quarter. Institutional investors and hedge funds own 84.88% of the company's stock.

Insider Activity

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 transaction 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 legal filing with the SEC, which is accessible through the SEC website. Also, CFO Aldo John Pagliari sold 6,860 shares of the company's stock in a transaction that occurred on 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. This represents a 6.02% decrease in their position. The disclosure for this sale can be found here. Insiders own 3.90% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the company. Tigress Financial raised 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. StockNews.com upgraded Snap-on from a "hold" rating to a "buy" rating in a research report on Wednesday, May 7th. Robert W. Baird lowered their price target on Snap-on from $349.00 to $320.00 and set a "neutral" rating for the company in a report on Monday, April 21st. Barrington Research reaffirmed an "outperform" rating and set a $350.00 price objective on shares of Snap-on in a research note on Thursday, April 17th. Finally, Longbow Research raised shares of Snap-on from a "neutral" rating to a "buy" rating and set a $400.00 target price on the stock in a research report on Monday, March 31st. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and five have issued 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.

Snap-on Stock Performance

Shares of NYSE:SNA opened at $325.52 on Thursday. The business has a 50-day moving average of $322.77 and a two-hundred day moving average of $338.78. The firm has a market capitalization of $17.02 billion, a PE ratio of 16.69, a P/E/G ratio of 2.21 and a beta of 0.78. 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 Incorporated has a 12 month low of $252.98 and a 12 month high of $373.90.

Snap-on (NYSE:SNA - Get Free Report) last issued its 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). Snap-on had a return on equity of 19.20% and a net margin of 21.71%. The firm had revenue of $1.14 billion for the quarter, compared to analysts' expectations of $1.20 billion. During the same quarter in the previous year, the firm posted $4.91 EPS. As a group, research analysts forecast that Snap-on Incorporated will post 19.79 earnings per share for the current year.

Snap-on Announces Dividend

The firm 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 $2.14 dividend. This represents a $8.56 annualized dividend and a dividend yield of 2.63%. The ex-dividend date is Tuesday, May 20th. Snap-on's payout ratio is currently 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.

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