Rafferty Asset Management LLC Has $1.66 Million Stock Holdings in Snap-on Incorporated (NYSE:SNA)

Rafferty Asset Management LLC increased its holdings in shares of Snap-on Incorporated (NYSE:SNA) by 11.0% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,902 shares of the company’s stock after buying an additional 484 shares during the period. Rafferty Asset Management LLC’s holdings in Snap-on were worth $1,664,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the business. Quantinno Capital Management LP boosted its position in Snap-on by 56.9% during the 4th quarter. Quantinno Capital Management LP now owns 37,420 shares of the company’s stock worth $12,703,000 after buying an additional 13,570 shares during the period. Mufg Securities Americas Inc. acquired a new position in shares of Snap-on in the 4th quarter worth approximately $263,000. Nomura Holdings Inc. acquired a new position in shares of Snap-on in the 4th quarter worth approximately $587,000. NDVR Inc. acquired a new position in shares of Snap-on in the 4th quarter worth approximately $217,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of Snap-on by 0.7% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 7,665 shares of the company’s stock worth $2,602,000 after purchasing an additional 57 shares during the period. 84.88% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

SNA has been the topic of a number of recent analyst reports. Robert W. Baird dropped their price target on shares of Snap-on from $349.00 to $320.00 and set a “neutral” rating on the stock in a research report on Monday, April 21st. Barrington Research restated an “outperform” rating and issued a $350.00 price target on shares of Snap-on in a research report on Monday. Tigress Financial boosted their price target on shares of Snap-on from $385.00 to $390.00 and gave the stock a “buy” rating in a research report on Tuesday, March 4th. StockNews.com upgraded shares of Snap-on from a “hold” rating to a “buy” rating in a research report on Friday, May 16th. Finally, Longbow Research upgraded shares of Snap-on from a “neutral” rating to a “buy” rating and set a $400.00 price target on the stock in a research report on Monday, March 31st. One research analyst has rated the stock with a sell rating, one has issued a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $350.83.

Snap-on Stock Down 1.6%

Snap-on stock opened at $326.71 on Wednesday. The company has a quick ratio of 3.17, a current ratio of 4.15 and a debt-to-equity ratio of 0.22. Snap-on Incorporated has a 12-month low of $252.98 and a 12-month high of $373.90. The firm’s fifty day moving average is $322.66 and its 200 day moving average is $338.76. The company has a market capitalization of $17.08 billion, a PE ratio of 16.75, a PEG ratio of 2.21 and a beta of 0.78.

Snap-on (NYSE:SNA) last released its earnings results on Thursday, April 17th. The company reported $4.51 earnings per share (EPS) 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 analyst estimates of $1.20 billion. During the same quarter in the previous year, the firm earned $4.91 EPS. As a group, sell-side analysts predict that Snap-on Incorporated will post 19.79 EPS for the current fiscal year.

Snap-on Dividend Announcement

The firm also recently declared 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. The ex-dividend date is Tuesday, May 20th. This represents a $8.56 dividend on an annualized basis and a yield of 2.62%. Snap-on’s dividend payout ratio (DPR) is presently 44.82%.

Insider Buying and Selling at Snap-on

In other Snap-on news, CFO Aldo John Pagliari sold 6,860 shares of the business’s stock in a transaction 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 owns 107,096 shares in the company, valued at approximately $36,310,898.80. The trade was a 6.02% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Nicholas T. Pinchuk sold 22,700 shares of the business’s stock in a transaction on Thursday, March 27th. The shares were 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 owns 793,932 shares of the company’s stock, valued at $266,221,278.24. This trade represents a 2.78% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 35,113 shares of company stock worth $11,752,590. 3.90% of the stock is owned by corporate insiders.

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.