Sentry Investment Management LLC cut its stake in Snap-On Incorporated (NYSE:SNA) by 4.6% during the first quarter, according to its most recent filing with the SEC. The fund owned 4,114 shares of the company’s stock after selling 199 shares during the period. Sentry Investment Management LLC’s holdings in Snap-On were worth $694,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the company. Renaissance Technologies LLC boosted its stake in Snap-On by 297.0% in the fourth quarter. Renaissance Technologies LLC now owns 210,800 shares of the company’s stock valued at $36,104,000 after buying an additional 157,700 shares during the last quarter. First Allied Advisory Services Inc. acquired a new stake in Snap-On during the fourth quarter valued at about $209,000. Pacad Investment Ltd. acquired a new stake in Snap-On during the fourth quarter valued at about $308,000. Asset Management One Co. Ltd. boosted its stake in Snap-On by 1,651.7% in the fourth quarter. Asset Management One Co. Ltd. now owns 100,161 shares of the company’s stock valued at $17,160,000 after buying an additional 94,443 shares during the last quarter. Finally, Aviva PLC boosted its stake in Snap-On by 5.2% in the fourth quarter. Aviva PLC now owns 36,052 shares of the company’s stock valued at $6,176,000 after buying an additional 1,787 shares during the last quarter. 90.94% of the stock is currently owned by institutional investors.

Institutional Ownership by Quarter for Snap-On (NYSE:SNA)

Snap-On Incorporated (NYSE:SNA) traded up 1.15% during mid-day trading on Friday, reaching $157.96. The company’s stock had a trading volume of 660,099 shares. Snap-On Incorporated has a one year low of $145.17 and a one year high of $181.73. The firm’s 50 day moving average is $164.15 and its 200-day moving average is $169.37. The stock has a market cap of $9.15 billion, a P/E ratio of 16.75 and a beta of 1.04.

Snap-On (NYSE:SNA) last issued its earnings results on Thursday, April 20th. The company reported $2.39 EPS for the quarter, topping the Zacks’ consensus estimate of $2.34 by $0.05. Snap-On had a net margin of 16.07% and a return on equity of 20.94%. The business had revenue of $887.10 million for the quarter, compared to the consensus estimate of $877.30 million. During the same period in the prior year, the firm earned $2.16 EPS. The company’s revenue for the quarter was up 6.3% compared to the same quarter last year. Equities analysts expect that Snap-On Incorporated will post $10.09 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 9th. Stockholders of record on Friday, May 19th were paid a dividend of $0.71 per share. The ex-dividend date was Wednesday, May 17th. This represents a $2.84 dividend on an annualized basis and a dividend yield of 1.80%. Snap-On’s dividend payout ratio is presently 30.08%.

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Several analysts recently issued reports on the company. Jefferies Group LLC reissued a “hold” rating and issued a $175.00 target price (up from $165.00) on shares of Snap-On in a research note on Sunday, April 23rd. CIBC reissued an “outperform” rating and issued a $200.00 target price on shares of Snap-On in a research note on Wednesday, April 12th. Finally, Oppenheimer Holdings, Inc. assumed coverage on Snap-On in a research note on Tuesday, April 11th. They issued an “outperform” rating and a $200.00 target price on the stock. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $192.83.

In other news, VP Jeanne M. Moreno sold 12,459 shares of the stock in a transaction that occurred on Monday, April 24th. The shares were sold at an average price of $176.54, for a total transaction of $2,199,511.86. Following the transaction, the vice president now directly owns 10,486 shares in the company, valued at $1,851,198.44. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, SVP Thomas J. Ward sold 42,000 shares of the stock in a transaction that occurred on Monday, April 24th. The shares were sold at an average price of $174.88, for a total transaction of $7,344,960.00. The disclosure for this sale can be found here. 3.70% of the stock is currently owned by company insiders.

About Snap-On

Snap-on Incorporated is a manufacturer and marketer of tools, equipment, diagnostics, repair information and systems solutions. The Company’s segments include the Commercial & Industrial Group, the Snap-on Tools Group, the Repair Systems & Information Group, and Financial Services. The Commercial & Industrial Group consists of business operations serving a range of industrial and commercial customers, including customers in the aerospace, natural resources, government, power generation, transportation and technical education markets.

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