Snap-on Incorporated (NYSE:SNA) Shares Sold by Balyasny Asset Management L.P.

Balyasny Asset Management L.P. cut its stake in Snap-on Incorporated (NYSE:SNA) by 19.4% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,183 shares of the company’s stock after selling 284 shares during the quarter. Balyasny Asset Management L.P.’s holdings in Snap-on were worth $402,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Bleakley Financial Group LLC purchased a new stake in Snap-on in the 4th quarter valued at about $512,000. Vest Financial LLC raised its holdings in Snap-on by 2.4% in the 4th quarter. Vest Financial LLC now owns 102,987 shares of the company’s stock valued at $34,962,000 after buying an additional 2,460 shares during the period. Avanza Fonder AB purchased a new stake in Snap-on in the 4th quarter valued at about $1,936,000. Empirical Finance LLC raised its holdings in Snap-on by 45.8% in the 4th 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 period. Finally, Advyzon Investment Management LLC purchased a new stake in Snap-on in the 4th quarter valued at about $272,000. 84.88% of the stock is owned by institutional investors and hedge funds.

Snap-on Stock Performance

Shares of Snap-on stock opened at $331.78 on Friday. Snap-on Incorporated has a one year low of $252.98 and a one year high of $373.90. The company has a market cap of $17.35 billion, a PE ratio of 17.01, a P/E/G ratio of 2.21 and a beta of 0.78. 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 business has a 50-day simple moving average of $322.45 and a 200-day simple moving average of $338.73.

Snap-on (NYSE:SNA) last announced its quarterly earnings data on Thursday, April 17th. The company reported $4.51 EPS for the quarter, missing analysts’ consensus estimates 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 analyst estimates of $1.20 billion. During the same period in the prior year, the firm posted $4.91 earnings per share. On average, equities research analysts forecast that Snap-on Incorporated will post 19.79 EPS for the current fiscal year.

Snap-on Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Tuesday, May 20th will be given a dividend of $2.14 per share. This represents a $8.56 dividend on an annualized basis and a dividend yield of 2.58%. The ex-dividend date is Tuesday, May 20th. Snap-on’s dividend payout ratio is presently 44.82%.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the stock. Tigress Financial boosted their price objective on shares of Snap-on from $385.00 to $390.00 and gave the company a “buy” rating in a report on Tuesday, March 4th. Longbow Research raised Snap-on from a “neutral” rating to a “buy” rating and set a $400.00 target price for the company in a research report on Monday, March 31st. StockNews.com raised Snap-on from a “hold” rating to a “buy” rating in a research report on Friday. Robert W. Baird dropped their target price on Snap-on from $349.00 to $320.00 and set a “neutral” rating for the company in a research report on Monday, April 21st. Finally, 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. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $350.83.

Insider Transactions at Snap-on

In related news, 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 value of $7,611,764.00. Following the completion of the transaction, the chief executive officer now directly owns 793,932 shares of the company’s stock, valued at $266,221,278.24. This represents a 2.78% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Aldo John Pagliari sold 5,553 shares of the company’s stock in a transaction that occurred on Thursday, May 15th. The shares were sold at an average price of $326.84, for a total value of $1,814,942.52. Following the completion of the transaction, the chief financial officer now directly owns 109,560 shares of the company’s stock, valued at $35,808,590.40. This trade represents a 4.82% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 35,113 shares of company stock valued at $11,752,590. 3.90% of the stock is currently owned by corporate insiders.

Snap-on 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.