Rockefeller Capital Management L.P. Trims Stock Holdings in Snap-on Incorporated (NYSE:SNA)

Rockefeller Capital Management L.P. lowered its position in shares of Snap-on Incorporated (NYSE:SNA) by 0.4% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 17,507 shares of the company’s stock after selling 79 shares during the period. Rockefeller Capital Management L.P.’s holdings in Snap-on were worth $5,943,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of SNA. Barclays PLC boosted its stake in Snap-on by 1.8% during the third quarter. Barclays PLC now owns 100,262 shares of the company’s stock worth $29,044,000 after acquiring an additional 1,803 shares in the last quarter. Pine Valley Investments Ltd Liability Co purchased a new position in shares of Snap-on during the third quarter valued at approximately $208,000. World Investment Advisors LLC bought a new stake in shares of Snap-on in the 3rd quarter worth approximately $19,291,000. Wilmington Savings Fund Society FSB grew its stake in shares of Snap-on by 37.0% in the 3rd quarter. Wilmington Savings Fund Society FSB now owns 5,097 shares of the company’s stock worth $1,477,000 after buying an additional 1,377 shares during the last quarter. Finally, Synovus Financial Corp increased 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 valued at $1,210,000 after buying an additional 180 shares in the last quarter. Institutional investors own 84.88% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the company. Tigress Financial increased 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. Barrington Research reissued an “outperform” rating and set a $350.00 price objective on shares of Snap-on in a research report on Thursday. Robert W. Baird reduced their price objective on shares of Snap-on from $358.00 to $349.00 and set a “neutral” rating for the company in a research note on Tuesday. Finally, Longbow Research upgraded shares of Snap-on from a “neutral” rating to a “buy” rating and set a $400.00 target price on the stock in a research note on Monday, March 31st. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, Snap-on has a consensus rating of “Moderate Buy” and an average target price of $355.67.

Snap-on Price Performance

Shares of NYSE:SNA opened at $305.16 on Friday. The business has a 50-day simple moving average of $332.29 and a two-hundred day simple moving average of $337.56. 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 firm has a market cap of $16.00 billion, a price-to-earnings ratio of 15.65, a price-to-earnings-growth ratio of 2.21 and a beta of 0.84. Snap-on Incorporated has a fifty-two week low of $252.98 and a fifty-two week high of $373.90.

Snap-on (NYSE:SNA) last issued its quarterly earnings data on Thursday, April 17th. The company reported $4.51 earnings per share for the quarter, missing analysts’ consensus estimates 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 company earned $4.91 EPS. On average, analysts expect that Snap-on Incorporated will post 19.79 earnings per share for the current year.

Snap-on Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Monday, February 24th were issued a $2.14 dividend. This represents a $8.56 annualized dividend and a dividend yield of 2.81%. The ex-dividend date was Monday, February 24th. Snap-on’s payout ratio is currently 43.90%.

Insider Activity at Snap-on

In other Snap-on news, CFO Aldo John Pagliari sold 6,860 shares of the company’s stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $339.05, for a total transaction of $2,325,883.00. Following the completion of the sale, the chief financial officer now directly owns 107,096 shares of the company’s stock, valued at approximately $36,310,898.80. This represents a 6.02 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Nicholas T. Pinchuk sold 22,700 shares of Snap-on stock in a transaction 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 transaction, the chief executive officer now owns 793,932 shares in the company, valued at $266,221,278.24. This represents a 2.78 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 36,011 shares of company stock worth $12,116,859. 3.90% of the stock is owned by insiders.

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.