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

Lane & Associates LLC grew its position in Snap-on Incorporated (NYSE:SNA) by 5.5% in the 3rd quarter, Holdings Channel.com reports. The fund owned 958 shares of the company’s stock after acquiring an additional 50 shares during the quarter. Lane & Associates LLC’s holdings in Snap-on were worth $277,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of SNA. EntryPoint Capital LLC acquired a new stake in shares of Snap-on in the first quarter valued at approximately $61,000. Toronto Dominion Bank boosted its holdings in shares of Snap-on by 2.0% in the first quarter. Toronto Dominion Bank now owns 30,065 shares of the company’s stock valued at $8,906,000 after acquiring an additional 600 shares during the period. 1832 Asset Management L.P. boosted its holdings in shares of Snap-on by 6.1% in the first quarter. 1832 Asset Management L.P. now owns 7,151 shares of the company’s stock valued at $2,118,000 after acquiring an additional 411 shares during the period. BOKF NA boosted its holdings in shares of Snap-on by 3.7% in the first quarter. BOKF NA now owns 8,088 shares of the company’s stock valued at $2,383,000 after acquiring an additional 285 shares during the period. Finally, Price T Rowe Associates Inc. MD boosted its holdings in shares of Snap-on by 0.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 72,523 shares of the company’s stock valued at $21,483,000 after acquiring an additional 419 shares during the period. 84.88% of the stock is owned by institutional investors and hedge funds.

Snap-on Trading Up 1.3 %

NYSE:SNA opened at $365.97 on Friday. The stock has a fifty day moving average price of $317.63 and a two-hundred day moving average price of $288.07. The stock has a market capitalization of $19.22 billion, a price-to-earnings ratio of 18.84, a PEG ratio of 2.39 and a beta of 0.96. The company has a debt-to-equity ratio of 0.22, a quick ratio of 3.14 and a current ratio of 4.18. Snap-on Incorporated has a 1 year low of $252.98 and a 1 year high of $367.12.

Snap-on (NYSE:SNA) last released its quarterly earnings data on Thursday, October 17th. The company reported $4.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.58 by $0.12. The firm had revenue of $1.15 billion during the quarter, compared to analysts’ expectations of $1.16 billion. Snap-on had a return on equity of 19.44% and a net margin of 22.13%. As a group, sell-side analysts anticipate that Snap-on Incorporated will post 19.05 earnings per share for the current fiscal year.

Snap-on Increases Dividend

The firm also recently disclosed 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 boost from Snap-on’s previous quarterly dividend of $1.86. The ex-dividend date is Thursday, November 21st. This represents a $8.56 annualized dividend and a yield of 2.34%. Snap-on’s dividend payout ratio is presently 44.06%.

Snap-on declared that its Board of Directors has authorized a share repurchase plan on Thursday, August 8th that permits the company to repurchase $500.00 million in shares. This repurchase authorization permits the company to reacquire up to 3.5% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s leadership believes its stock is undervalued.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on SNA shares. Barrington Research upped their price target on Snap-on from $325.00 to $350.00 and gave the stock an “outperform” rating in a research note on Thursday, October 17th. Bank of America upped their price target on Snap-on from $255.00 to $280.00 and gave the stock an “underperform” rating in a research note on Friday, October 18th. Roth Mkm upped their price target on Snap-on from $324.00 to $365.00 and gave the stock a “buy” rating in a research note on Tuesday, October 22nd. Robert W. Baird upped their price target on Snap-on from $290.00 to $347.00 and gave the stock a “neutral” rating in a research note on Friday, October 18th. Finally, Tigress Financial upped their price target on Snap-on from $336.00 to $385.00 and gave the stock a “buy” rating in a research note on Friday, October 25th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the stock. According to MarketBeat, Snap-on presently has a consensus rating of “Hold” and a consensus price target of $345.40.

Insiders Place Their Bets

In other news, VP Iain Boyd sold 6,044 shares of the firm’s stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $298.99, for a total value of $1,807,095.56. Following the completion of the transaction, the vice president now owns 10,493 shares in the company, valued at $3,137,302.07. This trade represents a 36.55 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP June C. Lemerand sold 1,186 shares of the firm’s stock in a transaction on Monday, August 26th. The shares were sold at an average price of $283.97, for a total value of $336,788.42. Following the completion of the transaction, the vice president now owns 2,283 shares of the company’s stock, valued at approximately $648,303.51. This represents a 34.19 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 21,717 shares of company stock worth $6,965,480. 4.10% of the stock is owned by corporate insiders.

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.