Alliancebernstein L.P. Has $27.24 Million Position in Snap-on Incorporated (NYSE:SNA)

Alliancebernstein L.P. boosted its position in shares of Snap-on Incorporated (NYSE:SNA) by 6.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 80,250 shares of the company’s stock after purchasing an additional 4,919 shares during the period. Alliancebernstein L.P. owned 0.15% of Snap-on worth $27,243,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of SNA. UMB Bank n.a. grew its position in Snap-on by 70.5% in the fourth quarter. UMB Bank n.a. now owns 75 shares of the company’s stock worth $25,000 after acquiring an additional 31 shares in the last quarter. SBI Securities Co. Ltd. bought a new position in Snap-on during the fourth quarter valued at about $26,000. Migdal Insurance & Financial Holdings Ltd. acquired a new position in shares of Snap-on during the 4th quarter valued at about $28,000. CoreFirst Bank & Trust acquired a new stake in Snap-on in the 4th quarter worth approximately $40,000. Finally, TCTC Holdings LLC grew its holdings in Snap-on by 41.3% during the fourth quarter. TCTC Holdings LLC now owns 147 shares of the company’s stock valued at $50,000 after purchasing an additional 43 shares during the last quarter. 84.88% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Snap-on

In other Snap-on news, CEO Nicholas T. Pinchuk sold 22,700 shares of the business’s stock in a transaction 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 transaction, the chief executive officer now owns 793,932 shares of the company’s stock, valued at approximately $266,221,278.24. The trade was a 2.78 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Aldo John Pagliari sold 6,860 shares of the firm’s stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $339.05, for a total value of $2,325,883.00. Following the completion of the sale, the chief financial officer now owns 107,096 shares of the company’s stock, valued at approximately $36,310,898.80. This trade represents a 6.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 36,011 shares of company stock worth $12,116,859 over the last ninety days. Corporate insiders own 3.90% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently issued reports on SNA. 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. Barrington Research restated an “outperform” rating and set a $350.00 target price on shares of Snap-on in a research note on Monday, February 10th. Finally, Tigress Financial upped their price target on Snap-on from $385.00 to $390.00 and gave the stock a “buy” rating in a report on Tuesday, March 4th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $355.33.

Snap-on Price Performance

NYSE:SNA opened at $314.98 on Monday. The company has a market capitalization of $16.51 billion, a price-to-earnings ratio of 16.15, a PEG ratio of 2.21 and a beta of 0.84. The company has a 50-day moving average of $338.24 and a 200-day moving average of $335.75. Snap-on Incorporated has a 52 week low of $252.98 and a 52 week high of $373.90. The company has a debt-to-equity ratio of 0.22, a quick ratio of 3.17 and a current ratio of 4.15.

Snap-on (NYSE:SNA) last posted its earnings results on Thursday, February 6th. The company reported $4.82 EPS for the quarter, topping the consensus estimate of $4.78 by $0.04. Snap-on had a return on equity of 19.20% and a net margin of 21.71%. During the same quarter in the prior year, the firm posted $4.75 earnings per share. As a group, equities research analysts anticipate that Snap-on Incorporated will post 19.79 earnings per share for the current fiscal year.

Snap-on Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Monday, February 24th were issued a dividend of $2.14 per share. This represents a $8.56 annualized dividend and a yield of 2.72%. The ex-dividend date of this dividend was Monday, February 24th. Snap-on’s dividend payout ratio is currently 43.90%.

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.