Snap-on Incorporated (NYSE:SNA) Shares Bought by Lane & Associates LLC

Lane & Associates LLC grew its holdings in shares of Snap-on Incorporated (NYSE:SNA) by 5.5% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 958 shares of the company’s stock after purchasing an additional 50 shares during the quarter. Lane & Associates LLC’s holdings in Snap-on were worth $277,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Cerity Partners LLC boosted its position in shares of Snap-on by 103.5% during the 3rd quarter. Cerity Partners LLC now owns 8,156 shares of the company’s stock valued at $2,363,000 after acquiring an additional 4,149 shares during the last quarter. Citigroup Inc. boosted its position in shares of Snap-on by 15.3% during the 3rd quarter. Citigroup Inc. now owns 180,879 shares of the company’s stock valued at $52,402,000 after acquiring an additional 24,047 shares during the last quarter. Eagle Asset Management Inc. boosted its position in shares of Snap-on by 25.2% during the 3rd quarter. Eagle Asset Management Inc. now owns 5,140 shares of the company’s stock valued at $1,489,000 after acquiring an additional 1,036 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of Snap-on by 3.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,728,792 shares of the company’s stock valued at $500,848,000 after acquiring an additional 56,266 shares during the last quarter. Finally, Pacer Advisors Inc. boosted its position in shares of Snap-on by 9.4% during the 3rd quarter. Pacer Advisors Inc. now owns 907,655 shares of the company’s stock valued at $262,957,000 after acquiring an additional 78,184 shares during the last quarter. Institutional investors and hedge funds own 84.88% of the company’s stock.

Snap-on Stock Up 1.3 %

Shares of NYSE:SNA opened at $365.97 on Friday. 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 capitalization of $19.22 billion, a PE ratio of 18.84, a price-to-earnings-growth ratio of 2.39 and a beta of 0.96. The firm’s 50-day moving average is $317.63 and its two-hundred day moving average is $288.07. Snap-on Incorporated has a 1 year low of $252.98 and a 1 year high of $367.12.

Snap-on (NYSE:SNA) last issued its quarterly earnings results on Thursday, October 17th. The company reported $4.70 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.58 by $0.12. The company had revenue of $1.15 billion for 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%. Analysts predict that Snap-on Incorporated will post 19.05 EPS for the current year.

Snap-on Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Thursday, November 21st will be given a dividend of $2.14 per share. The ex-dividend date of this dividend is Thursday, November 21st. This is an increase 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 2.34%. Snap-on’s payout ratio is currently 44.06%.

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

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. Bank of America boosted their price target on shares of Snap-on from $255.00 to $280.00 and gave the company an “underperform” rating in a research report on Friday, October 18th. Barrington Research boosted their price objective 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. Tigress Financial boosted their price objective on shares of Snap-on from $336.00 to $385.00 and gave the company a “buy” rating in a report on Friday, October 25th. Roth Mkm boosted their price objective on shares of Snap-on from $324.00 to $365.00 and gave the company a “buy” rating in a report on Tuesday, October 22nd. Finally, Robert W. Baird boosted their price objective on shares of Snap-on from $290.00 to $347.00 and gave the company a “neutral” rating in a report on Friday, October 18th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $345.40.

Insider Transactions at Snap-on

In related news, SVP Thomas J. Ward sold 12,737 shares of the company’s stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $333.21, for a total value of $4,244,095.77. Following the completion of the transaction, the senior vice president now directly owns 55,401 shares of the company’s stock, valued at $18,460,167.21. This represents a 18.69 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Richard Thomas Miller sold 1,750 shares of the company’s stock in a transaction that occurred on Friday, October 18th. The shares were 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 directly owns 3,218 shares of the company’s stock, valued at $1,061,940. This trade represents a 35.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 21,717 shares of company stock valued at $6,965,480. 4.10% of the stock is currently owned by corporate insiders.

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.