Tower Research Capital LLC TRC Increases Stake in Snap-on Incorporated (NYSE:SNA)

Tower Research Capital LLC TRC grew its position in Snap-on Incorporated (NYSE:SNA - Free Report) by 57.4% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 4,719 shares of the company's stock after purchasing an additional 1,721 shares during the period. Tower Research Capital LLC TRC's holdings in Snap-on were worth $1,602,000 at the end of the most recent quarter.

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

Wall Street Analysts Forecast Growth

SNA has been the topic of a number of recent research reports. StockNews.com downgraded Snap-on from a "buy" rating to a "hold" rating in a research note on Friday, April 18th. 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 note on Tuesday, March 4th. Robert W. Baird decreased their target price on shares of Snap-on from $349.00 to $320.00 and set a "neutral" rating for the company in a research note on Monday, April 21st. Barrington Research restated an "outperform" rating and set a $350.00 price target on shares of Snap-on in a research report on Thursday, April 17th. Finally, Longbow Research upgraded 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. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $350.83.

Snap-on Price Performance

SNA traded down $1.35 on Tuesday, reaching $308.44. 51,511 shares of the company's stock were exchanged, compared to its average volume of 356,646. The stock has a market cap of $16.13 billion, a PE ratio of 15.81, 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 current ratio of 4.15 and a quick ratio of 3.17. Snap-on Incorporated has a twelve month low of $252.98 and a twelve month high of $373.90. The stock's fifty day moving average price is $327.48 and its 200-day moving average price is $339.08.

Snap-on (NYSE:SNA - Get Free Report) last posted its quarterly earnings results on Thursday, April 17th. The company reported $4.51 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 company had revenue of $1.14 billion for the quarter, compared to analysts' expectations of $1.20 billion. During the same quarter in the prior year, the firm earned $4.91 EPS. Sell-side analysts expect that Snap-on Incorporated will post 19.79 EPS for the current year.

Snap-on Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Tuesday, May 20th will be given a dividend of $2.14 per share. The ex-dividend date is Tuesday, May 20th. This represents a $8.56 dividend on an annualized basis and a dividend yield of 2.78%. Snap-on's payout ratio is currently 44.82%.

Insider Activity at Snap-on

In related news, CFO Aldo John Pagliari sold 6,860 shares of Snap-on stock in a transaction that occurred on 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 completion of the transaction, the chief financial officer now owns 107,096 shares in the company, valued at approximately $36,310,898.80. The trade was a 6.02 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Nicholas T. Pinchuk sold 22,700 shares of the company'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 sale, the chief executive officer now directly owns 793,932 shares in the company, valued at approximately $266,221,278.24. The trade was a 2.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 36,011 shares of company stock worth $12,116,859. Insiders own 3.90% of the company's stock.

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.