Snap-on Incorporated (NYSE:SNA) Shares Acquired by Leavell Investment Management Inc.

Leavell Investment Management Inc. increased its holdings in shares of Snap-on Incorporated (NYSE:SNA) by 58.4% in the third quarter, Holdings Channel reports. The firm owned 2,440 shares of the company’s stock after buying an additional 900 shares during the period. Leavell Investment Management Inc.’s holdings in Snap-on were worth $707,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Mawer Investment Management Ltd. raised its position in Snap-on by 234.7% in the 2nd quarter. Mawer Investment Management Ltd. now owns 632,226 shares of the company’s stock valued at $165,258,000 after purchasing an additional 443,333 shares in the last quarter. Pacer Advisors Inc. raised its holdings in Snap-on by 51.2% in the second 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 in the last quarter. Millennium Management LLC lifted its stake in Snap-on by 1,786.4% in the second quarter. Millennium Management LLC now owns 161,175 shares of the company’s stock worth $42,130,000 after acquiring an additional 152,631 shares during the last quarter. International Assets Investment Management LLC grew its holdings in Snap-on by 34,381.0% during the 3rd quarter. International Assets Investment Management LLC now owns 130,338 shares of the company’s stock worth $37,760,000 after acquiring an additional 129,960 shares in the last quarter. Finally, Glassman Wealth Services purchased a new stake in shares of Snap-on in the 2nd quarter valued at approximately $26,608,000. 84.88% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, CFO Aldo John Pagliari sold 4,473 shares of the company’s stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $278.74, for a total value of $1,246,804.02. Following the completion of the sale, the chief financial officer now directly owns 99,244 shares of the company’s stock, valued at approximately $27,663,272.56. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CFO Aldo John Pagliari sold 4,473 shares of the business’s stock in a transaction dated Thursday, August 22nd. The stock was sold at an average price of $278.74, for a total value of $1,246,804.02. Following the transaction, the chief financial officer now owns 99,244 shares in the company, valued at $27,663,272.56. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, VP June C. Lemerand sold 1,186 shares of the stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $283.97, for a total value of $336,788.42. Following the sale, the vice president now directly owns 2,283 shares of the company’s stock, valued at $648,303.51. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 26,190 shares of company stock valued at $8,212,284. Insiders own 4.10% of the company’s stock.

Analyst Upgrades and Downgrades

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

Snap-on Stock Up 1.7 %

Snap-on stock opened at $359.27 on Monday. The company has a market capitalization of $18.87 billion, a P/E ratio of 18.49, a PEG ratio of 2.38 and a beta of 0.96. The company has a debt-to-equity ratio of 0.22, a quick ratio of 3.14 and a current ratio of 4.18. Snap-on Incorporated has a fifty-two week low of $252.98 and a fifty-two week high of $360.41. The stock has a 50-day simple moving average of $301.16 and a 200-day simple moving average of $282.03.

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

Snap-on declared that its Board of Directors has approved a share buyback program on Thursday, August 8th that permits the company to buyback $500.00 million in shares. This buyback authorization permits the company to buy up to 3.5% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board believes its shares are undervalued.

Snap-on Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Thursday, November 21st will be paid a dividend of $2.14 per share. The ex-dividend date of this dividend is Thursday, November 21st. This represents a $8.56 dividend on an annualized basis and a yield of 2.38%. This is a boost from Snap-on’s previous quarterly dividend of $1.86. Snap-on’s dividend payout ratio is currently 38.29%.

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.