B. Metzler seel. Sohn & Co. Holding AG Makes New Investment in Snap-on Incorporated (NYSE:SNA)

B. Metzler seel. Sohn & Co. Holding AG bought a new stake in shares of Snap-on Incorporated (NYSE:SNA) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 1,080 shares of the company’s stock, valued at approximately $313,000.

A number of other hedge funds have also recently modified their holdings of SNA. Opal Wealth Advisors LLC bought a new stake in Snap-on during the 2nd quarter valued at about $30,000. Reston Wealth Management LLC bought a new position in Snap-on in the 3rd quarter worth about $30,000. Innealta Capital LLC bought a new stake in shares of Snap-on during the second quarter valued at approximately $32,000. Massmutual Trust Co. FSB ADV boosted its holdings in shares of Snap-on by 53.0% in the third quarter. Massmutual Trust Co. FSB ADV now owns 127 shares of the company’s stock valued at $37,000 after purchasing an additional 44 shares during the period. Finally, Quarry LP boosted its holdings in shares of Snap-on by 244.7% in the second quarter. Quarry LP now owns 162 shares of the company’s stock valued at $42,000 after purchasing an additional 115 shares during the period. Institutional investors own 84.88% of the company’s stock.

Insider Activity at Snap-on

In related news, VP Richard Thomas Miller sold 1,750 shares of the firm’s stock in a transaction on Friday, October 18th. The stock was sold at an average price of $330.00, for a total value of $577,500.00. Following the completion of the transaction, the vice president now owns 3,218 shares in the company, valued at $1,061,940. This trade represents a 35.23 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Iain Boyd sold 6,044 shares of the firm’s stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $298.99, for a total transaction of $1,807,095.56. Following the transaction, the vice president now directly owns 10,493 shares of the company’s stock, valued at $3,137,302.07. This represents a 36.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 20,531 shares of company stock valued at $6,628,691 in the last ninety days. Corporate insiders own 4.10% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have weighed in on SNA shares. Bank of America lifted their target price on Snap-on from $255.00 to $280.00 and gave the company an “underperform” rating in a research report on Friday, October 18th. Robert W. Baird increased their target price 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. Tigress Financial upped their price target 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 increased their price objective on shares of Snap-on from $324.00 to $365.00 and gave the company a “buy” rating in a research note on Tuesday, October 22nd. Finally, Barrington Research boosted their price objective on shares of Snap-on from $325.00 to $350.00 and gave the stock an “outperform” rating in a research note on Thursday, October 17th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $345.40.

Snap-on Stock Performance

SNA stock opened at $365.97 on Monday. The firm has a 50-day simple moving average of $317.63 and a two-hundred day simple moving average of $288.24. 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 one year low of $252.98 and a one year high of $367.12. The firm has a market cap of $19.22 billion, a price-to-earnings ratio of 18.84, a PEG ratio of 2.39 and a beta of 0.96.

Snap-on (NYSE:SNA) last posted its earnings results on Thursday, October 17th. The company reported $4.70 EPS for the quarter, beating 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 company had revenue of $1.15 billion during the quarter, compared to analysts’ expectations of $1.16 billion. On average, equities analysts forecast that Snap-on Incorporated will post 19.05 EPS for the current fiscal year.

Snap-on declared that its Board of Directors has initiated a share repurchase program on Thursday, August 8th that allows the company to buyback $500.00 million in outstanding shares. This buyback authorization allows the company to reacquire up to 3.5% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s management believes its stock is undervalued.

Snap-on Increases Dividend

The firm also recently announced 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. This represents a $8.56 annualized dividend and a yield of 2.34%. This is an increase from Snap-on’s previous quarterly dividend of $1.86. The ex-dividend date is Thursday, November 21st. Snap-on’s payout ratio is 44.06%.

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.