Snap-on Incorporated (NYSE:SNA) Shares Sold by Pinebridge Investments L.P.

Pinebridge Investments L.P. cut its stake in Snap-on Incorporated (NYSE:SNA - Free Report) by 62.5% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 20,625 shares of the company's stock after selling 34,393 shares during the quarter. Pinebridge Investments L.P.'s holdings in Snap-on were worth $7,002,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. UMB Bank n.a. grew its stake in Snap-on by 70.5% in the fourth 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 fourth quarter worth about $26,000. Migdal Insurance & Financial Holdings Ltd. bought a new position in shares of Snap-on during the fourth quarter valued at approximately $28,000. CoreFirst Bank & Trust purchased a new position in shares of Snap-on during the fourth quarter valued at approximately $40,000. Finally, TCTC Holdings LLC boosted its position in shares of Snap-on by 41.3% in the 4th quarter. TCTC Holdings LLC now owns 147 shares of the company's stock worth $50,000 after purchasing an additional 43 shares in the last quarter. 84.88% of the stock is owned by hedge funds and other institutional investors.

Snap-on Trading Down 0.7 %

NYSE SNA traded down $2.29 during trading on Wednesday, hitting $307.40. The stock had a trading volume of 111,684 shares, compared to its average volume of 357,074. Snap-on Incorporated has a one year low of $252.98 and a one year high of $373.90. The stock has a market capitalization of $16.07 billion, a price-to-earnings ratio of 15.76, a P/E/G ratio of 2.21 and a beta of 0.84. The stock has a 50 day simple moving average of $326.91 and a 200 day simple moving average of $338.87. The company has a debt-to-equity ratio of 0.22, a quick ratio of 3.17 and a current ratio of 4.15.

Snap-on (NYSE:SNA - Get Free Report) last issued its quarterly earnings data 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). The company had revenue of $1.14 billion for the quarter, compared to the consensus estimate of $1.20 billion. Snap-on had a net margin of 21.71% and a return on equity of 19.20%. During the same period in the previous year, the business earned $4.91 EPS. 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 announced a quarterly dividend, which will be paid on Tuesday, June 10th. Investors 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 2.78%. The ex-dividend date of this dividend is Tuesday, May 20th. Snap-on's payout ratio is 44.82%.

Insider Buying and Selling

In other news, CFO Aldo John Pagliari sold 6,860 shares of the firm's stock in a transaction dated Thursday, February 20th. The stock was 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 in the company, valued at $36,310,898.80. This trade represents a 6.02 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Nicholas T. Pinchuk sold 22,700 shares of the 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 owns 793,932 shares in the company, valued at $266,221,278.24. This represents a 2.78 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 36,011 shares of company stock worth $12,116,859 in the last 90 days. Insiders own 3.90% of the company's stock.

Analyst Ratings Changes

SNA has been the subject of several recent analyst reports. Longbow Research raised shares of Snap-on from a "neutral" rating to a "buy" rating and set a $400.00 target price for the company in a report on Monday, March 31st. StockNews.com lowered shares of Snap-on from a "buy" rating to a "hold" rating in a report on Friday, April 18th. Tigress Financial increased their target price on Snap-on from $385.00 to $390.00 and gave the company a "buy" rating in a research note on Tuesday, March 4th. Robert W. Baird decreased their price target on Snap-on from $349.00 to $320.00 and set a "neutral" rating for the company in a research note on Monday, April 21st. Finally, Barrington Research reaffirmed an "outperform" rating and set a $350.00 price objective on shares of Snap-on in a research report on Thursday, April 17th. One analyst has rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $350.83.

About Snap-on

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.