World Investment Advisors LLC Invests $19.29 Million in Snap-on Incorporated (NYSE:SNA)

World Investment Advisors LLC acquired a new stake in Snap-on Incorporated (NYSE:SNA - Free Report) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 66,588 shares of the company's stock, valued at approximately $19,291,000. World Investment Advisors LLC owned 0.13% of Snap-on as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in SNA. Mawer Investment Management Ltd. lifted its stake in Snap-on by 234.7% in the second quarter. Mawer Investment Management Ltd. now owns 632,226 shares of the company's stock worth $165,258,000 after acquiring an additional 443,333 shares during the last quarter. Pacer Advisors Inc. raised its holdings in shares of Snap-on by 51.2% in the 2nd quarter. Pacer Advisors Inc. now owns 829,471 shares of the company's stock valued at $216,815,000 after purchasing an additional 280,997 shares in the last quarter. Millennium Management LLC lifted its position in shares of Snap-on by 1,786.4% during the 2nd quarter. Millennium Management LLC now owns 161,175 shares of the company's stock worth $42,130,000 after purchasing an additional 152,631 shares during the last quarter. Benjamin Edwards Inc. grew its stake in shares of Snap-on by 2,691.2% during the third quarter. Benjamin Edwards Inc. now owns 158,092 shares of the company's stock worth $45,810,000 after purchasing an additional 152,428 shares in the last quarter. Finally, International Assets Investment Management LLC increased its holdings in Snap-on by 34,381.0% in the third quarter. International Assets Investment Management LLC now owns 130,338 shares of the company's stock valued at $37,760,000 after buying an additional 129,960 shares during the last quarter. 84.88% of the stock is owned by institutional investors and hedge funds.

Snap-on Stock Performance

NYSE:SNA traded down $0.19 during trading hours on Thursday, reaching $355.64. 255,471 shares of the company's stock were exchanged, compared to its average volume of 313,558. Snap-on Incorporated has a 1-year low of $252.98 and a 1-year high of $373.89. The company has a quick ratio of 3.14, a current ratio of 4.18 and a debt-to-equity ratio of 0.22. The firm has a market capitalization of $18.67 billion, a price-to-earnings ratio of 18.31, a P/E/G ratio of 2.37 and a beta of 0.98. The company has a 50-day moving average of $338.01 and a 200 day moving average of $296.02.

Snap-on (NYSE:SNA - Get Free Report) last released 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 firm had revenue of $1.15 billion for the quarter, compared to analyst estimates of $1.16 billion. Snap-on had a return on equity of 19.44% and a net margin of 22.13%. Research analysts anticipate that Snap-on Incorporated will post 19.05 EPS for the current year.

Snap-on Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Thursday, November 21st were paid a dividend of $2.14 per share. This represents a $8.56 annualized dividend and a dividend yield of 2.41%. The ex-dividend date of this dividend was Thursday, November 21st. This is a boost from Snap-on's previous quarterly dividend of $1.86. Snap-on's dividend payout ratio is 44.06%.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the company. Robert W. Baird lifted their price target on Snap-on from $290.00 to $347.00 and gave the stock a "neutral" rating in a report on Friday, October 18th. Bank of America boosted their target price 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 increased their price target on shares of Snap-on from $324.00 to $365.00 and gave the company a "buy" rating in a research note on Tuesday, October 22nd. Tigress Financial raised their price objective on shares of Snap-on from $336.00 to $385.00 and gave the stock a "buy" rating in a report on Friday, October 25th. Finally, Barrington Research upped their target price 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. 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 data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $345.40.

Insider Transactions at Snap-on

In other Snap-on news, SVP Thomas J. Ward sold 12,737 shares of the company's stock in a transaction on 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 in the company, valued at approximately $18,460,167.21. This represents a 18.69 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Iain Boyd sold 6,044 shares of Snap-on 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 sale, 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 disclosure for this sale can be found here. Insiders sold 45,814 shares of company stock worth $15,627,963 over the last 90 days. 4.10% of the stock is currently owned by 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.