Wellington Management Group LLP Grows Position in Snap-on Incorporated (NYSE:SNA)

Wellington Management Group LLP boosted its stake in Snap-on Incorporated (NYSE:SNA) by 3.3% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 159,233 shares of the company’s stock after purchasing an additional 5,144 shares during the quarter. Wellington Management Group LLP owned about 0.30% of Snap-on worth $45,993,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of the stock. Scarborough Advisors LLC acquired a new position in Snap-on during the fourth quarter valued at approximately $30,000. BKM Wealth Management LLC acquired a new position in Snap-on during the fourth quarter valued at approximately $33,000. Exchange Traded Concepts LLC acquired a new position in Snap-on during the fourth quarter valued at approximately $43,000. Itau Unibanco Holding S.A. acquired a new position in Snap-on during the third quarter valued at approximately $49,000. Finally, Orion Capital Management LLC acquired a new position in Snap-on during the third quarter valued at approximately $49,000. 84.88% of the stock is currently owned by hedge funds and other institutional investors.

Snap-on Trading Down 0.7 %

NYSE SNA opened at $266.75 on Monday. The company’s fifty day simple moving average is $272.01 and its 200-day simple moving average is $280.55. Snap-on Incorporated has a 52 week low of $249.84 and a 52 week high of $298.49. The company has a current ratio of 3.82, a quick ratio of 2.83 and a debt-to-equity ratio of 0.23. The stock has a market cap of $14.06 billion, a P/E ratio of 14.00, a PEG ratio of 1.86 and a beta of 0.99.

Snap-on (NYSE:SNA) last posted its earnings results on Thursday, April 18th. The company reported $4.75 EPS for the quarter, topping analysts’ consensus estimates of $4.66 by $0.09. The business had revenue of $1.18 billion for the quarter, compared to analysts’ expectations of $1.20 billion. Snap-on had a net margin of 21.69% and a return on equity of 20.46%. The business’s revenue for the quarter was down .1% compared to the same quarter last year. During the same period in the previous year, the company posted $4.60 earnings per share. Equities research analysts predict that Snap-on Incorporated will post 19.01 EPS for the current fiscal year.

Snap-on Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 10th. Investors of record on Monday, May 20th were issued a $1.86 dividend. The ex-dividend date was Friday, May 17th. This represents a $7.44 annualized dividend and a yield of 2.79%. Snap-on’s dividend payout ratio is presently 39.03%.

Insider Activity at Snap-on

In related news, VP Richard Thomas Miller sold 704 shares of the company’s stock in a transaction on Thursday, March 28th. The shares were sold at an average price of $298.16, for a total value of $209,904.64. Following the sale, the vice president now directly owns 3,213 shares of the company’s stock, valued at $957,988.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Snap-on news, CFO Aldo John Pagliari sold 5,978 shares of the business’s stock in a transaction on Tuesday, May 21st. The shares were sold at an average price of $276.86, for a total transaction of $1,655,069.08. Following the completion of the sale, the chief financial officer now owns 97,699 shares in the company, valued at $27,048,945.14. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, VP Richard Thomas Miller sold 704 shares of the business’s stock in a transaction on Thursday, March 28th. The shares were sold at an average price of $298.16, for a total transaction of $209,904.64. Following the sale, the vice president now owns 3,213 shares of the company’s stock, valued at approximately $957,988.08. The disclosure for this sale can be found here. Insiders have sold 39,336 shares of company stock valued at $10,563,314 over the last ninety days. Corporate insiders own 4.10% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. Roth Mkm reaffirmed a “buy” rating and set a $324.00 price target on shares of Snap-on in a research report on Thursday, April 18th. Barrington Research reaffirmed an “outperform” rating and set a $325.00 price target on shares of Snap-on in a research report on Wednesday, May 22nd. Finally, Robert W. Baird reduced their target price on shares of Snap-on from $295.00 to $282.00 and set a “neutral” rating on the stock in a research report on Friday, April 19th. Two analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $316.75.

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.