Brooklyn Investment Group Makes New $39,000 Investment in Snap-on Incorporated (NYSE:SNA)

Brooklyn Investment Group bought a new stake in Snap-on Incorporated (NYSE:SNA) in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 134 shares of the company’s stock, valued at approximately $39,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of SNA. Price T Rowe Associates Inc. MD boosted its stake in 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. Kennedy Capital Management LLC bought a new stake in shares of Snap-on during the first quarter valued at approximately $203,000. Comerica Bank raised its holdings in shares of Snap-on by 0.5% during the first quarter. Comerica Bank now owns 21,002 shares of the company’s stock valued at $6,221,000 after buying an additional 102 shares during the last quarter. Swedbank AB bought a new stake in shares of Snap-on during the first quarter valued at approximately $14,968,000. Finally, Atria Investments Inc raised its holdings in shares of Snap-on by 55.6% during the first quarter. Atria Investments Inc now owns 6,604 shares of the company’s stock valued at $1,956,000 after buying an additional 2,359 shares during the last quarter. 84.88% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Snap-on

In other Snap-on news, VP Iain Boyd sold 6,044 shares of Snap-on stock in a transaction that occurred on 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 transaction, the vice president now directly owns 10,493 shares in the company, valued at approximately $3,137,302.07. The trade was a 36.55 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Thomas J. Ward sold 12,737 shares of Snap-on stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $333.21, for a total transaction of $4,244,095.77. Following the transaction, the senior vice president now owns 55,401 shares in the company, valued at approximately $18,460,167.21. The trade was a 18.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 20,531 shares of company stock valued at $6,628,691. Corporate insiders own 4.10% of the company’s stock.

Snap-on Price Performance

Shares of NYSE:SNA opened at $369.81 on Friday. The stock has a market cap of $19.42 billion, a price-to-earnings ratio of 19.03, a PEG ratio of 2.44 and a beta of 0.96. Snap-on Incorporated has a 12 month low of $252.98 and a 12 month high of $373.89. The stock’s 50 day moving average price is $324.68 and its 200 day moving average price is $290.62. The company has a debt-to-equity ratio of 0.22, a current ratio of 4.18 and a quick ratio of 3.14.

Snap-on (NYSE:SNA) last posted its quarterly 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 for 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%. Equities research analysts anticipate that Snap-on Incorporated will post 19.05 earnings per share for the current fiscal year.

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

Snap-on Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Thursday, November 21st will be issued a $2.14 dividend. The ex-dividend date of this dividend is Thursday, November 21st. This represents a $8.56 annualized dividend and a dividend yield of 2.31%. This is a boost from Snap-on’s previous quarterly dividend of $1.86. Snap-on’s dividend payout ratio is currently 44.06%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. Bank of America lifted their price target on Snap-on from $255.00 to $280.00 and gave the company an “underperform” rating in a report on Friday, October 18th. Barrington Research lifted their price target on Snap-on from $325.00 to $350.00 and gave the company an “outperform” rating in a report on Thursday, October 17th. Tigress Financial lifted their price target on Snap-on from $336.00 to $385.00 and gave the company a “buy” rating in a report on Friday, October 25th. 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. Finally, Roth Mkm boosted their target price on Snap-on from $324.00 to $365.00 and gave the stock a “buy” rating in a report on Tuesday, October 22nd. One analyst has rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $345.40.

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.