Voya Investment Management LLC Sells 3,110 Shares of Snap-on Incorporated (NYSE:SNA)

Voya Investment Management LLC trimmed its position in shares of Snap-on Incorporated (NYSE:SNA - Free Report) by 6.3% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 46,539 shares of the company's stock after selling 3,110 shares during the quarter. Voya Investment Management LLC owned about 0.09% of Snap-on worth $15,799,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Bleakley Financial Group LLC bought a new stake in shares of Snap-on during the fourth quarter valued at approximately $512,000. Vest Financial LLC increased its holdings in shares of Snap-on by 2.4% in 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 in the last quarter. World Investment Advisors LLC purchased a new position in shares of Snap-on in the third quarter worth $19,291,000. Avanza Fonder AB bought a new position in shares of Snap-on during the fourth quarter valued at $1,936,000. Finally, Empirical Finance LLC boosted its position in shares of Snap-on by 45.8% during the fourth quarter. Empirical Finance LLC now owns 5,906 shares of the company's stock valued at $2,005,000 after buying an additional 1,856 shares during the last quarter. 84.88% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Snap-on

In other news, CEO Nicholas T. Pinchuk sold 22,700 shares of the business'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 directly owns 793,932 shares in the company, valued at $266,221,278.24. The trade was a 2.78 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Jesus Arregui sold 6,451 shares of the stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $337.81, for a total value of $2,179,212.31. Following 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 disclosure for this sale can be found here. Insiders have sold 36,011 shares of company stock valued at $12,116,859 over the last 90 days. 3.90% of the stock is currently owned by corporate insiders.

Snap-on Trading Down 0.7 %

Shares of Snap-on stock opened at $308.64 on Monday. Snap-on Incorporated has a 1-year low of $252.98 and a 1-year high of $373.90. The company's fifty day simple moving average is $328.13 and its 200-day simple moving average is $338.95. The company has a debt-to-equity ratio of 0.22, a current ratio of 4.15 and a quick ratio of 3.17. The stock has a market capitalization of $16.14 billion, a PE ratio of 15.83, a P/E/G ratio of 2.21 and a beta of 0.84.

Snap-on (NYSE:SNA - Get Free Report) last released its earnings results 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 analysts' expectations of $1.20 billion. During the same quarter last year, the firm posted $4.91 earnings per share. As a group, equities analysts anticipate that Snap-on Incorporated will post 19.79 earnings per share for the current year.

Snap-on Announces Dividend

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

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the stock. StockNews.com cut shares of Snap-on from a "buy" rating to a "hold" rating in a research note on Friday, April 18th. Longbow Research upgraded shares of Snap-on from a "neutral" rating to a "buy" rating and set a $400.00 price objective on the stock in a research report on Monday, March 31st. Barrington Research reaffirmed an "outperform" rating and issued a $350.00 target price on shares of Snap-on in a research report on Thursday, April 17th. Tigress Financial increased their price target on Snap-on from $385.00 to $390.00 and gave the company a "buy" rating in a report on Tuesday, March 4th. Finally, Robert W. Baird dropped their price target on Snap-on from $349.00 to $320.00 and set a "neutral" rating on the stock in a research note on Monday, April 21st. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock has an average 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.

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