Snap-on Incorporated (NYSE:SNA) Shares Purchased by State Street Corp

State Street Corp raised its holdings in shares of Snap-on Incorporated (NYSE:SNA) by 0.5% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,115,973 shares of the company’s stock after buying an additional 10,645 shares during the period. State Street Corp’s holdings in Snap-on were worth $613,019,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Reston Wealth Management LLC acquired a new position in Snap-on during the third quarter valued at approximately $30,000. Innealta Capital LLC acquired a new position in shares of Snap-on during the second quarter worth $32,000. Massmutual Trust Co. FSB ADV lifted its position in shares of 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 purchasing an additional 44 shares in the last quarter. Brooklyn Investment Group acquired a new position in shares of Snap-on during the third quarter worth $39,000. Finally, Quarry LP lifted its position in shares of Snap-on by 244.7% during the second quarter. Quarry LP now owns 162 shares of the company’s stock worth $42,000 after purchasing an additional 115 shares in the last quarter. 84.88% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

SNA has been the topic of a number of recent research reports. Bank of America boosted their target price on shares of Snap-on from $255.00 to $280.00 and gave the stock an “underperform” rating in a research report on Friday, October 18th. Robert W. Baird boosted 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. Roth Mkm boosted their target price on shares of Snap-on from $324.00 to $365.00 and gave the stock a “buy” rating in a research report on Tuesday, October 22nd. Tigress Financial boosted their target price 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. Finally, Barrington Research lifted their price target 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 equities research analyst has rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $345.40.

Snap-on Stock Down 1.0 %

Shares of NYSE:SNA opened at $357.77 on Monday. The company has a current ratio of 4.18, a quick ratio of 3.14 and a debt-to-equity ratio of 0.22. The company has a fifty day simple moving average of $334.08 and a 200 day simple moving average of $294.41. The firm has a market cap of $18.79 billion, a PE ratio of 18.41, a price-to-earnings-growth ratio of 2.40 and a beta of 0.98. Snap-on Incorporated has a 12-month low of $252.98 and a 12-month high of $373.89.

Snap-on (NYSE:SNA) last released its earnings results on Thursday, October 17th. The company reported $4.70 earnings per share for the quarter, beating the consensus estimate of $4.58 by $0.12. Snap-on had a net margin of 22.13% and a return on equity of 19.44%. The firm had revenue of $1.15 billion during the quarter, compared to analyst estimates of $1.16 billion. On average, equities research analysts anticipate that Snap-on Incorporated will post 19.05 EPS for the current fiscal year.

Snap-on Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Thursday, November 21st will be paid a dividend of $2.14 per share. This is a positive change from Snap-on’s previous quarterly dividend of $1.86. The ex-dividend date of this dividend is Thursday, November 21st. This represents a $8.56 annualized dividend and a yield of 2.39%. Snap-on’s payout ratio is presently 44.06%.

Insider Buying and Selling at Snap-on

In other Snap-on news, VP June C. Lemerand sold 3,500 shares of the business’s stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $362.86, for a total transaction of $1,270,010.00. Following the completion of the sale, the vice president now owns 2,289 shares in the company, valued at $830,586.54. The trade was a 60.46 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Thomas J. Ward sold 12,737 shares of the business’s stock in a transaction on Monday, October 28th. The shares were sold at an average price of $333.21, for a total transaction of $4,244,095.77. Following the sale, the senior vice president now owns 55,401 shares of the company’s stock, valued at approximately $18,460,167.21. The trade was a 18.69 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 24,031 shares of company stock worth $7,898,701 over the last 90 days. 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.