Snap-on Incorporated (NYSE:SNA) Shares Purchased by Metis Global Partners LLC

Metis Global Partners LLC grew its holdings in shares of Snap-on Incorporated (NYSE:SNA) by 1.9% in the third quarter, according to its most recent filing with the SEC. The firm owned 1,691 shares of the company’s stock after acquiring an additional 32 shares during the quarter. Metis Global Partners LLC’s holdings in Snap-on were worth $490,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of SNA. Mawer Investment Management Ltd. raised its stake in shares of Snap-on by 234.7% during the second 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 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 worth $216,815,000 after buying an additional 280,997 shares in the last quarter. Millennium Management LLC lifted its stake in shares of Snap-on by 1,786.4% in the 2nd 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 period. International Assets Investment Management LLC boosted its holdings in shares of Snap-on by 34,381.0% in the third quarter. International Assets Investment Management LLC now owns 130,338 shares of the company’s stock valued at $37,760,000 after acquiring an additional 129,960 shares in the last quarter. Finally, Glassman Wealth Services acquired a new position in shares of Snap-on during the second quarter valued at approximately $26,608,000. Institutional investors own 84.88% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have weighed in on SNA. Tigress Financial upped their target price on Snap-on from $336.00 to $385.00 and gave the stock a “buy” rating in a research report on Friday, October 25th. Robert W. Baird upped their price objective on Snap-on from $290.00 to $347.00 and gave the company a “neutral” rating in a report on Friday, October 18th. Roth Mkm lifted their target price on Snap-on from $324.00 to $365.00 and gave the stock a “buy” rating in a report on Tuesday, October 22nd. Barrington Research upped their price target on shares of Snap-on from $325.00 to $350.00 and gave the company an “outperform” rating in a report on Thursday, October 17th. Finally, Bank of America lifted their price objective on shares of Snap-on from $255.00 to $280.00 and gave the stock an “underperform” rating in a research note on Friday, October 18th. One 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.com, Snap-on currently has an average rating of “Hold” and an average target price of $345.40.

Snap-on Trading Up 0.2 %

Shares of NYSE SNA opened at $357.64 on Tuesday. 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 12 month low of $252.98 and a 12 month high of $365.35. The company has a market cap of $18.78 billion, a price-to-earnings ratio of 18.41, a P/E/G ratio of 2.36 and a beta of 0.96. The business has a fifty day simple moving average of $311.04 and a 200-day simple moving average of $285.83.

Snap-on (NYSE:SNA) last posted its quarterly earnings data on Thursday, October 17th. The company reported $4.70 EPS 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 analyst estimates of $1.16 billion. Snap-on had a net margin of 22.13% and a return on equity of 19.44%. Sell-side analysts predict that Snap-on Incorporated will post 19.05 EPS for the current year.

Snap-on Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Investors 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. The ex-dividend date is Thursday, November 21st. This represents a $8.56 dividend on an annualized basis and a yield of 2.39%. Snap-on’s dividend payout ratio (DPR) is currently 38.29%.

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

Insiders Place Their Bets

In other Snap-on news, CFO Aldo John Pagliari sold 4,473 shares of the company’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 directly owns 99,244 shares of the company’s stock, valued at $27,663,272.56. This represents a 4.31 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, 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 sale, the vice president now directly owns 2,283 shares of the company’s stock, valued at $648,303.51. This trade represents a 34.19 % 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 worth $8,212,284. Corporate insiders own 4.10% of the company’s stock.

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.