Snap-on Incorporated (NYSE:SNA) Shares Acquired by Fmr LLC

Fmr LLC increased its holdings in shares of Snap-on Incorporated (NYSE:SNA) by 16.3% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 57,543 shares of the company’s stock after purchasing an additional 8,073 shares during the quarter. Fmr LLC owned 0.11% of Snap-on worth $16,671,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of SNA. Reston Wealth Management LLC purchased a new position in shares of Snap-on in the 3rd quarter valued at about $30,000. Innealta Capital LLC acquired a new position in Snap-on during the second quarter worth approximately $32,000. Massmutual Trust Co. FSB ADV increased its position in Snap-on by 53.0% during the third quarter. Massmutual Trust Co. FSB ADV now owns 127 shares of the company’s stock worth $37,000 after buying an additional 44 shares during the period. Quarry LP increased its position in Snap-on by 244.7% during the second quarter. Quarry LP now owns 162 shares of the company’s stock worth $42,000 after buying an additional 115 shares during the period. Finally, nVerses Capital LLC acquired a new position in shares of Snap-on in the third quarter valued at approximately $58,000. 84.88% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages recently weighed in on SNA. Roth Mkm upped their price objective on Snap-on from $324.00 to $365.00 and gave the stock a “buy” rating in a report on Tuesday, October 22nd. Bank of America upped their price objective on Snap-on from $255.00 to $280.00 and gave the company an “underperform” rating in a research report on Friday, October 18th. Barrington Research increased their target price on Snap-on from $325.00 to $350.00 and gave the stock an “outperform” rating in a research report on Thursday, October 17th. Robert W. Baird upped their price target on Snap-on from $290.00 to $347.00 and gave the stock a “neutral” rating in a research note on Friday, October 18th. Finally, Tigress Financial increased their target price on Snap-on from $336.00 to $385.00 and gave the company 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 issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $345.40.

Snap-on Stock Performance

Shares of NYSE SNA opened at $354.78 on Wednesday. The stock has a market capitalization of $18.63 billion, a price-to-earnings ratio of 18.26, a PEG ratio of 2.37 and a beta of 0.98. The stock’s fifty day simple moving average is $336.71 and its 200 day simple moving average is $295.60. The company has a quick ratio of 3.14, a current ratio of 4.18 and a debt-to-equity ratio of 0.22. Snap-on Incorporated has a 52-week low of $252.98 and a 52-week high of $373.89.

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

Snap-on Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Investors of record on Thursday, November 21st were paid a dividend of $2.14 per share. This represents a $8.56 annualized dividend and a yield of 2.41%. This is a positive change from Snap-on’s previous quarterly dividend of $1.86. The ex-dividend date of this dividend was Thursday, November 21st. Snap-on’s payout ratio is currently 44.06%.

Insider Activity at Snap-on

In other Snap-on news, VP Iain Boyd sold 6,044 shares of the company’s stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $298.99, for a total transaction of $1,807,095.56. Following the completion of the sale, the vice president now owns 10,493 shares in the company, valued at approximately $3,137,302.07. The trade was a 36.55 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, VP Richard Thomas Miller sold 1,750 shares of the company’s stock in a transaction 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 sale, the vice president now owns 3,218 shares of the company’s stock, valued at $1,061,940. The trade was a 35.23 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 45,814 shares of company stock worth $15,627,963 over the last three months. Company insiders own 4.10% of the company’s stock.

About Snap-on

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.