Kapitalo Investimentos Ltda Invests $207,000 in Snap-on Incorporated (NYSE:SNA)

Kapitalo Investimentos Ltda bought a new stake in Snap-on Incorporated (NYSE:SNA) in the third quarter, Holdings Channel.com reports. The institutional investor bought 716 shares of the company’s stock, valued at approximately $207,000.

Other institutional investors have also added to or reduced their stakes in the company. Swedbank AB increased its holdings in shares of Snap-on by 2.7% during the third quarter. Swedbank AB now owns 51,143 shares of the company’s stock valued at $14,817,000 after acquiring an additional 1,351 shares in the last quarter. Birch Capital Management LLC increased its stake in Snap-on by 43.1% during the 3rd quarter. Birch Capital Management LLC now owns 3,859 shares of the company’s stock valued at $1,118,000 after purchasing an additional 1,162 shares in the last quarter. Creative Planning raised its holdings in Snap-on by 4.7% during the third quarter. Creative Planning now owns 9,909 shares of the company’s stock worth $2,871,000 after buying an additional 446 shares during the last quarter. Empirical Asset Management LLC lifted its stake in shares of Snap-on by 105.0% in the third quarter. Empirical Asset Management LLC now owns 2,040 shares of the company’s stock valued at $591,000 after buying an additional 1,045 shares in the last quarter. Finally, Orca Investment Management LLC grew its holdings in shares of Snap-on by 6.7% during the third quarter. Orca Investment Management LLC now owns 4,078 shares of the company’s stock valued at $1,181,000 after buying an additional 255 shares during the last quarter. 84.88% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the stock. Tigress Financial restated a “buy” rating and issued a $336.00 target price on shares of Snap-on in a report on Thursday, July 25th. Roth Mkm restated a “buy” rating and issued a $324.00 target price on shares of Snap-on in a report on Tuesday, July 16th. Barrington Research reaffirmed an “outperform” rating and set a $325.00 target price on shares of Snap-on in a research report on Friday, September 20th. Finally, Robert W. Baird lowered their price target on Snap-on from $282.00 to $275.00 and set a “neutral” rating for the company in a research report on Friday, July 12th.

Snap-on Trading Up 0.7 %

NYSE:SNA opened at $297.88 on Thursday. Snap-on Incorporated has a 52 week low of $249.84 and a 52 week high of $302.64. The firm has a 50-day moving average price of $281.47 and a two-hundred day moving average price of $276.05. The company has a debt-to-equity ratio of 0.22, a quick ratio of 3.05 and a current ratio of 4.06. The firm has a market cap of $15.70 billion, a price-to-earnings ratio of 15.63, a price-to-earnings-growth ratio of 1.99 and a beta of 0.98.

Snap-on (NYSE:SNA) last issued its quarterly earnings results on Thursday, July 18th. The company reported $5.07 EPS for the quarter, beating analysts’ consensus estimates of $4.94 by $0.13. Snap-on had a return on equity of 19.90% and a net margin of 21.90%. The company had revenue of $1.18 billion during the quarter, compared to the consensus estimate of $1.20 billion. During the same period last year, the business posted $4.89 earnings per share. Snap-on’s revenue was down 1.0% on a year-over-year basis. On average, equities analysts expect that Snap-on Incorporated will post 18.95 earnings per share for the current fiscal year.

Snap-on Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Monday, August 19th were given a dividend of $1.86 per share. This represents a $7.44 annualized dividend and a dividend yield of 2.50%. The ex-dividend date was Monday, August 19th. Snap-on’s dividend payout ratio is presently 39.03%.

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

Insider Transactions at Snap-on

In related news, VP Iain Boyd sold 6,044 shares of the stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $298.99, for a total transaction of $1,807,095.56. Following the completion of the transaction, the vice president now owns 10,493 shares in the company, valued at approximately $3,137,302.07. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other Snap-on news, VP Iain Boyd sold 6,044 shares of the stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $298.99, for a total transaction of $1,807,095.56. Following the completion of the transaction, the vice president now directly owns 10,493 shares of the company’s stock, valued at approximately $3,137,302.07. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP June C. Lemerand sold 1,186 shares of the firm’s stock in a transaction on 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 sale, the vice president now directly owns 2,283 shares of the company’s stock, valued at $648,303.51. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 35,848 shares of company stock worth $9,884,486 in the last ninety days. Company insiders own 4.10% of the company’s stock.

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.