Seizert Capital Partners LLC Raises Stock Holdings in Snap-on Incorporated (NYSE:SNA)

Seizert Capital Partners LLC raised its position in shares of Snap-on Incorporated (NYSE:SNA) by 13.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 29,333 shares of the company’s stock after buying an additional 3,384 shares during the quarter. Seizert Capital Partners LLC owned about 0.06% of Snap-on worth $8,498,000 at the end of the most recent quarter.

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

Wall Street Analysts Forecast Growth

Several research firms have commented on SNA. Robert W. Baird boosted their target price on Snap-on from $290.00 to $347.00 and gave the stock a “neutral” rating in a report on Friday, October 18th. Tigress Financial increased their price objective on shares of Snap-on from $336.00 to $385.00 and gave the company a “buy” rating in a research report on Friday, October 25th. Barrington Research lifted their target price on shares of Snap-on from $325.00 to $350.00 and gave the stock an “outperform” rating in a report on Thursday, October 17th. Bank of America upped their target price 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. Finally, Roth Mkm boosted their price objective on shares of Snap-on from $324.00 to $365.00 and gave the stock a “buy” rating in a report on Tuesday, October 22nd. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, Snap-on currently has an average rating of “Hold” and an average target price of $345.40.

Insider Buying and Selling

In other Snap-on news, SVP Thomas J. Ward sold 12,737 shares of the stock in a transaction dated 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 completion of the transaction, the senior vice president now owns 55,401 shares of the company’s stock, valued at $18,460,167.21. This represents a 18.69 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Aldo John Pagliari sold 4,473 shares of Snap-on 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 completion of the sale, the chief financial officer now directly owns 99,244 shares in the company, valued at $27,663,272.56. This trade represents a 4.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 26,190 shares of company stock valued at $8,212,284. Company insiders own 4.10% of the company’s stock.

Snap-on Stock Performance

Shares of NYSE SNA opened at $357.06 on Friday. 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 52-week low of $252.98 and a 52-week high of $365.35. The company has a market cap of $18.75 billion, a PE ratio of 18.38, a PEG ratio of 2.36 and a beta of 0.96. The firm’s 50-day moving average price is $309.42 and its 200-day moving average price is $285.07.

Snap-on (NYSE:SNA) last announced its earnings results on Thursday, October 17th. The company reported $4.70 earnings per share (EPS) for the quarter, beating the consensus estimate 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%. As a group, analysts anticipate that Snap-on Incorporated will post 19.05 EPS for the current year.

Snap-on Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Thursday, November 21st will be given a $2.14 dividend. This is a positive change from Snap-on’s previous quarterly dividend of $1.86. This represents a $8.56 dividend on an annualized basis and a dividend yield of 2.40%. The ex-dividend date of this dividend is Thursday, November 21st. Snap-on’s dividend payout ratio is presently 38.29%.

Snap-on announced that its board has initiated a share buyback program on Thursday, August 8th that permits the company to repurchase $500.00 million in outstanding shares. This repurchase authorization permits the company to buy up to 3.5% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s board of directors believes its stock is undervalued.

Snap-on 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.