Northern Trust Corp Grows Holdings in Snap-on Incorporated (NYSE:SNA)

Northern Trust Corp increased its holdings in Snap-on Incorporated (NYSE:SNA - Free Report) by 22.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 798,254 shares of the company's stock after buying an additional 145,861 shares during the quarter. Northern Trust Corp owned about 1.52% of Snap-on worth $270,991,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the business. Barclays PLC grew its position in Snap-on by 1.8% during the 3rd quarter. Barclays PLC now owns 100,262 shares of the company's stock worth $29,044,000 after purchasing an additional 1,803 shares during the period. Pine Valley Investments Ltd Liability Co purchased a new position in Snap-on during the third quarter valued at approximately $208,000. World Investment Advisors LLC acquired a new position in Snap-on in the third quarter valued at approximately $19,291,000. Wilmington Savings Fund Society FSB grew its stake in shares of Snap-on by 37.0% during the 3rd quarter. Wilmington Savings Fund Society FSB now owns 5,097 shares of the company's stock worth $1,477,000 after purchasing an additional 1,377 shares during the period. Finally, Synovus Financial Corp increased its holdings in shares of Snap-on by 4.5% during the 3rd quarter. Synovus Financial Corp now owns 4,179 shares of the company's stock valued at $1,210,000 after purchasing an additional 180 shares in the last quarter. 84.88% of the stock is currently owned by institutional investors and hedge funds.

Snap-on Price Performance

Shares of NYSE SNA traded up $5.17 during midday trading on Friday, hitting $316.88. The stock had a trading volume of 326,939 shares, compared to its average volume of 359,380. The company has a quick ratio of 3.17, a current ratio of 4.15 and a debt-to-equity ratio of 0.22. Snap-on Incorporated has a 1 year low of $252.98 and a 1 year high of $373.90. The company has a market capitalization of $16.57 billion, a PE ratio of 16.25, a P/E/G ratio of 2.21 and a beta of 0.84. The stock has a 50 day simple moving average of $325.49 and a 200-day simple moving average of $339.24.

Snap-on (NYSE:SNA - Get Free Report) last announced its earnings results on Thursday, April 17th. The company reported $4.51 earnings per share (EPS) for the quarter, missing the consensus estimate 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 for the quarter, compared to analyst estimates of $1.20 billion. During the same period last year, the firm earned $4.91 EPS. On average, sell-side analysts expect that Snap-on Incorporated will post 19.79 EPS for the current fiscal year.

Snap-on Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Tuesday, May 20th will be issued a $2.14 dividend. The ex-dividend date of this dividend is Tuesday, May 20th. This represents a $8.56 dividend on an annualized basis and a yield of 2.70%. Snap-on's payout ratio is 44.82%.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on SNA shares. Barrington Research reaffirmed an "outperform" rating and issued a $350.00 price objective on shares of Snap-on in a report on Thursday, April 17th. 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 research report on Monday, March 31st. Robert W. Baird dropped their price objective on Snap-on from $349.00 to $320.00 and set a "neutral" rating on the stock in a 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 research note on Tuesday, March 4th. Finally, StockNews.com cut shares of Snap-on from a "buy" rating to a "hold" rating in a research note on Friday, April 18th. One analyst has rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $350.83.

Insiders Place Their Bets

In other news, SVP Jesus Arregui sold 6,451 shares of the stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $337.81, for a total value of $2,179,212.31. Following the completion of 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 transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO Aldo John Pagliari sold 6,860 shares of the firm'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 transaction of $2,325,883.00. Following the sale, the chief financial officer now owns 107,096 shares of the company's stock, valued at $36,310,898.80. This represents a 6.02 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 36,011 shares of company stock valued at $12,116,859 in the last ninety days. 3.90% of the stock is currently owned by corporate insiders.

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.