The Manufacturers Life Insurance Company Sells 3,735 Shares of Snap-on Incorporated (NYSE:SNA)

The Manufacturers Life Insurance Company lowered its holdings in Snap-on Incorporated (NYSE:SNA - Free Report) by 8.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 40,248 shares of the company's stock after selling 3,735 shares during the quarter. The Manufacturers Life Insurance Company owned 0.08% of Snap-on worth $13,663,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Greenleaf Trust grew its stake in shares of Snap-on by 3.1% in the 4th quarter. Greenleaf Trust now owns 1,013 shares of the company's stock valued at $344,000 after purchasing an additional 30 shares during the period. UMB Bank n.a. grew its position in Snap-on by 70.5% in the fourth quarter. UMB Bank n.a. now owns 75 shares of the company's stock valued at $25,000 after acquiring an additional 31 shares during the period. WCM Investment Management LLC raised its stake in Snap-on by 4.5% during the fourth quarter. WCM Investment Management LLC now owns 727 shares of the company's stock worth $247,000 after acquiring an additional 31 shares in the last quarter. New York Life Investment Management LLC lifted its holdings in shares of Snap-on by 0.4% during the fourth quarter. New York Life Investment Management LLC now owns 7,106 shares of the company's stock valued at $2,412,000 after acquiring an additional 31 shares during the period. Finally, Inspire Advisors LLC boosted its stake in shares of Snap-on by 1.0% in the 4th quarter. Inspire Advisors LLC now owns 3,382 shares of the company's stock valued at $1,148,000 after purchasing an additional 34 shares in the last quarter. Institutional investors and hedge funds own 84.88% of the company's stock.

Analysts Set New Price Targets

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

Snap-on Stock Up 1.7 %

NYSE:SNA opened at $316.88 on Friday. The company has a market cap of $16.57 billion, a price-to-earnings ratio of 16.25, a P/E/G ratio of 2.21 and a beta of 0.84. The company has a debt-to-equity ratio of 0.22, a quick ratio of 3.17 and a current ratio of 4.15. The stock's fifty day moving average price is $325.49 and its two-hundred day moving average price is $339.24. 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 posted its quarterly 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). The firm had revenue of $1.14 billion during 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 quarter in the prior year, the business earned $4.91 EPS. On average, analysts anticipate that Snap-on Incorporated will post 19.79 EPS for the current year.

Snap-on Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Investors 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 2.70%. The ex-dividend date of this dividend is Tuesday, May 20th. Snap-on's dividend payout ratio (DPR) is 44.82%.

Insider Activity at Snap-on

In related news, CFO Aldo John Pagliari sold 6,860 shares of the company's stock in a transaction dated 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 sale, the chief financial officer now owns 107,096 shares in the company, valued at approximately $36,310,898.80. This represents a 6.02 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Nicholas T. Pinchuk sold 22,700 shares of the firm's 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 transaction, the chief executive officer now owns 793,932 shares in the company, valued at approximately $266,221,278.24. This trade represents a 2.78 % 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 over the last ninety days. Company insiders own 3.90% of the company's stock.

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.

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