723 Shares in Snap-on Incorporated (NYSE:SNA) Acquired by Strategy Asset Managers LLC

Strategy Asset Managers LLC acquired a new stake in shares of Snap-on Incorporated (NYSE:SNA) in the 3rd quarter, according to its most recent 13F filing with the SEC. The fund acquired 723 shares of the company’s stock, valued at approximately $209,000.

Several other large investors have also made changes to their positions in the business. Earnest Partners LLC lifted its stake in Snap-on by 1.4% in the 2nd quarter. Earnest Partners LLC now owns 942,743 shares of the company’s stock worth $246,424,000 after purchasing an additional 13,033 shares in the last quarter. Pacer Advisors Inc. boosted its position in shares of Snap-on by 51.2% during the 2nd quarter. Pacer Advisors Inc. now owns 829,471 shares of the company’s stock valued at $216,815,000 after acquiring an additional 280,997 shares during the last quarter. Dimensional Fund Advisors LP increased its position in Snap-on by 8.7% during the second quarter. Dimensional Fund Advisors LP now owns 817,536 shares of the company’s stock worth $213,686,000 after purchasing an additional 65,485 shares during the last quarter. Envestnet Asset Management Inc. raised its stake in Snap-on by 0.4% during the second quarter. Envestnet Asset Management Inc. now owns 732,571 shares of the company’s stock worth $191,487,000 after purchasing an additional 2,616 shares during the period. Finally, Mawer Investment Management Ltd. grew its stake in shares of Snap-on by 0.3% in the 3rd quarter. Mawer Investment Management Ltd. now owns 634,022 shares of the company’s stock valued at $183,683,000 after buying an additional 1,796 shares during the period. 84.88% of the stock is owned by hedge funds and other institutional investors.

Snap-on Trading Up 1.6 %

NYSE:SNA opened at $361.40 on Friday. The stock has a fifty day moving average price of $314.25 and a 200 day moving average price of $286.92. The company has a current ratio of 4.18, a quick ratio of 3.14 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 $365.35. The firm has a market cap of $18.98 billion, a PE ratio of 18.57, a price-to-earnings-growth ratio of 2.35 and a beta of 0.96.

Snap-on (NYSE:SNA) last issued its earnings results on Thursday, October 17th. The company reported $4.70 EPS for the quarter, topping analysts’ consensus estimates of $4.58 by $0.12. Snap-on had a net margin of 22.13% and a return on equity of 19.44%. The firm had revenue of $1.15 billion during the quarter, compared to the consensus estimate of $1.16 billion. Sell-side analysts anticipate that Snap-on Incorporated will post 19.05 earnings per share for the current fiscal year.

Snap-on Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Thursday, November 21st will be paid a $2.14 dividend. This is a positive change from Snap-on’s previous quarterly dividend of $1.86. This represents a $8.56 annualized dividend and a yield of 2.37%. The ex-dividend date of this dividend is Thursday, November 21st. Snap-on’s dividend payout ratio is currently 38.29%.

Snap-on declared that its Board of Directors has initiated a stock buyback plan on Thursday, August 8th that authorizes the company to repurchase $500.00 million in outstanding shares. This repurchase authorization authorizes the company to buy up to 3.5% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s leadership believes its stock is undervalued.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on SNA. Robert W. Baird lifted their price target on shares of Snap-on from $290.00 to $347.00 and gave the company a “neutral” rating in a research report on Friday, October 18th. Roth Mkm increased their target price on shares of Snap-on from $324.00 to $365.00 and gave the stock a “buy” rating in a research note on Tuesday, October 22nd. Bank of America boosted their price target on shares of Snap-on from $255.00 to $280.00 and gave the company an “underperform” rating in a research note on Friday, October 18th. Barrington Research lifted their price objective on Snap-on from $325.00 to $350.00 and gave the company an “outperform” rating in a research note on Thursday, October 17th. Finally, Tigress Financial increased their target price on Snap-on from $336.00 to $385.00 and gave the stock a “buy” rating in a research note on Friday, October 25th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $345.40.

Insider Transactions at Snap-on

In other news, VP Richard Thomas Miller sold 1,750 shares of the firm’s stock in a transaction that occurred on Friday, October 18th. The shares were sold at an average price of $330.00, for a total transaction of $577,500.00. Following the transaction, the vice president now directly owns 3,218 shares in the company, valued at approximately $1,061,940. This trade represents a 35.23 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP June C. Lemerand sold 1,186 shares of the company’s stock in a transaction on Monday, August 26th. The shares were sold at an average price of $283.97, for a total transaction of $336,788.42. Following the completion of the sale, the vice president now owns 2,283 shares of the company’s stock, valued at approximately $648,303.51. This trade represents a 34.19 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 21,717 shares of company stock worth $6,965,480. 4.10% of the stock is currently owned by 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.