Mirae Asset Global Investments Co. Ltd. Has $10.46 Million Holdings in Snap-on Incorporated (NYSE:SNA)

Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Snap-on Incorporated (NYSE:SNA) by 14.6% in the third quarter, according to its most recent 13F filing with the SEC. The fund owned 36,252 shares of the company’s stock after purchasing an additional 4,611 shares during the period. Mirae Asset Global Investments Co. Ltd. owned approximately 0.07% of Snap-on worth $10,459,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Manning & Napier Advisors LLC purchased a new position in shares of Snap-on during the second quarter valued at approximately $4,571,000. SG Americas Securities LLC grew its stake in shares of Snap-on by 32.7% in the 2nd quarter. SG Americas Securities LLC now owns 13,140 shares of the company’s stock worth $3,435,000 after acquiring an additional 3,238 shares in the last quarter. Strategic Financial Concepts LLC purchased a new stake in shares of Snap-on in the second quarter valued at about $3,653,000. LSV Asset Management lifted its position in shares of Snap-on by 0.5% during the first quarter. LSV Asset Management now owns 674,341 shares of the company’s stock valued at $199,753,000 after purchasing an additional 3,535 shares in the last quarter. Finally, Empirical Finance LLC boosted its holdings in Snap-on by 105.5% during the second quarter. Empirical Finance LLC now owns 3,994 shares of the company’s stock worth $1,044,000 after purchasing an additional 2,050 shares during the last quarter. 84.88% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have commented on SNA shares. Robert W. Baird lifted their target price on shares of Snap-on from $290.00 to $347.00 and gave the stock a “neutral” rating in a research report on Friday, October 18th. Barrington Research lifted their price target on Snap-on from $325.00 to $350.00 and gave the stock an “outperform” rating in a report on Thursday, October 17th. Tigress Financial upped their price objective on Snap-on from $336.00 to $385.00 and gave the company a “buy” rating in a research note on Friday. Roth Mkm raised their target price on Snap-on from $324.00 to $365.00 and gave the company a “buy” rating in a research report on Tuesday, October 22nd. Finally, Bank of America boosted their price target on shares of Snap-on from $255.00 to $280.00 and gave the stock an “underperform” rating in a report on Friday, October 18th. One 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 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 SNA opened at $326.58 on Monday. The company has a debt-to-equity ratio of 0.22, a current ratio of 4.18 and a quick ratio of 3.14. The firm has a market cap of $17.22 billion, a PE ratio of 17.13, a PEG ratio of 2.14 and a beta of 0.98. Snap-on Incorporated has a 1 year low of $250.30 and a 1 year high of $330.51. The stock’s fifty day moving average price is $289.40 and its two-hundred day moving average price is $277.70.

Snap-on Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Monday, August 19th were issued a dividend of $1.86 per share. This represents a $7.44 annualized dividend and a yield of 2.28%. The ex-dividend date was Monday, August 19th. Snap-on’s dividend payout ratio (DPR) is presently 39.03%.

Snap-on declared that its Board of Directors has approved a stock buyback plan on Thursday, August 8th that permits the company to repurchase $500.00 million in shares. This repurchase authorization permits the company to repurchase up to 3.5% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s board of directors believes its shares are undervalued.

Insiders Place Their Bets

In other news, CEO Nicholas T. Pinchuk sold 24,145 shares of the business’s stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $268.95, for a total value of $6,493,797.75. Following the sale, the chief executive officer now owns 759,019 shares of the company’s stock, valued at $204,138,160.05. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other Snap-on news, VP June C. Lemerand sold 1,186 shares of the firm’s stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $283.97, for a total value of $336,788.42. Following the completion of the transaction, the vice president now owns 2,283 shares in the company, valued at $648,303.51. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Nicholas T. Pinchuk sold 24,145 shares of the company’s stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $268.95, for a total value of $6,493,797.75. Following the sale, the chief executive officer now owns 759,019 shares in the company, valued at approximately $204,138,160.05. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 37,598 shares of company stock worth $10,461,986 over the last quarter. 4.10% of the stock is currently owned by company insiders.

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.