Kayne Anderson Rudnick Investment Management LLC Acquires 6,480 Shares of Snap-on Incorporated (NYSE:SNA)

Kayne Anderson Rudnick Investment Management LLC raised its holdings in Snap-on Incorporated (NYSE:SNA - Free Report) by 72.5% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 15,419 shares of the company's stock after purchasing an additional 6,480 shares during the quarter. Kayne Anderson Rudnick Investment Management LLC's holdings in Snap-on were worth $5,234,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of SNA. Bleakley Financial Group LLC acquired a new stake in shares of Snap-on during the 4th quarter valued at $512,000. Vest Financial LLC raised its position in Snap-on by 2.4% during the 4th quarter. Vest Financial LLC now owns 102,987 shares of the company's stock worth $34,962,000 after purchasing an additional 2,460 shares during the last quarter. World Investment Advisors LLC bought a new position in Snap-on during the 3rd quarter worth $19,291,000. Avanza Fonder AB bought a new position in Snap-on during the 4th quarter worth $1,936,000. Finally, Empirical Finance LLC raised its position in Snap-on by 45.8% during the 4th quarter. Empirical Finance LLC now owns 5,906 shares of the company's stock worth $2,005,000 after purchasing an additional 1,856 shares during the last quarter. Institutional investors and hedge funds own 84.88% of the company's stock.

Snap-on Stock Down 0.7 %

NYSE:SNA traded down $2.10 during trading hours on Friday, hitting $308.64. 262,956 shares of the company traded hands, compared to its average volume of 357,703. The company has a quick ratio of 3.17, a current ratio of 4.15 and a debt-to-equity ratio of 0.22. The firm's 50-day simple moving average is $328.13 and its 200-day simple moving average is $338.95. Snap-on Incorporated has a one year low of $252.98 and a one year high of $373.90. The company has a market cap of $16.14 billion, a PE ratio of 15.83, a PEG ratio of 2.21 and a beta of 0.84.

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 the consensus estimate 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 business posted $4.91 earnings per share. Equities analysts predict that Snap-on Incorporated will post 19.79 earnings per share for the current year.

Snap-on Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders 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 dividend yield of 2.77%. The ex-dividend date of this dividend is Tuesday, May 20th. Snap-on's payout ratio is 44.82%.

Insider Transactions at Snap-on

In related news, CEO Nicholas T. Pinchuk sold 22,700 shares of Snap-on stock in a transaction dated 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 completion of the sale, the chief executive officer now owns 793,932 shares of the company's stock, valued at approximately $266,221,278.24. This trade represents a 2.78 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Aldo John Pagliari sold 6,860 shares of Snap-on stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $339.05, for a total value of $2,325,883.00. Following the transaction, the chief financial officer now directly owns 107,096 shares of the company's stock, valued at $36,310,898.80. The trade was 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 worth $12,116,859 in the last ninety days. Company insiders own 3.90% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on SNA. Robert W. Baird lowered their price objective on Snap-on from $349.00 to $320.00 and set a "neutral" rating for the company in a research report on Monday, April 21st. Tigress Financial raised their price objective on shares of Snap-on from $385.00 to $390.00 and gave the stock a "buy" rating in a research report on Tuesday, March 4th. Longbow Research raised shares of Snap-on from a "neutral" rating to a "buy" rating and set a $400.00 price objective for the company in a research report on Monday, March 31st. StockNews.com downgraded shares of Snap-on from a "buy" rating to a "hold" rating in a research report on Friday, April 18th. 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 investment analyst has rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price 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.