Dearborn Partners LLC Decreases Position in Snap-on Incorporated (NYSE:SNA)

Dearborn Partners LLC trimmed its holdings in shares of Snap-on Incorporated (NYSE:SNA - Free Report) by 2.4% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 134,823 shares of the company's stock after selling 3,321 shares during the quarter. Snap-on comprises about 1.6% of Dearborn Partners LLC's investment portfolio, making the stock its 22nd largest holding. Dearborn Partners LLC owned approximately 0.26% of Snap-on worth $39,060,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the business. Earnest Partners LLC lifted its stake in Snap-on by 1.4% in the 2nd quarter. Earnest Partners LLC now owns 942,743 shares of the company's stock valued at $246,424,000 after purchasing an additional 13,033 shares during the last quarter. Pacer Advisors Inc. increased its holdings in Snap-on by 51.2% in the 2nd quarter. Pacer Advisors Inc. now owns 829,471 shares of the company's stock worth $216,815,000 after purchasing an additional 280,997 shares in the last quarter. Dimensional Fund Advisors LP raised its position in Snap-on by 8.7% in the second quarter. Dimensional Fund Advisors LP now owns 817,536 shares of the company's stock valued at $213,686,000 after purchasing an additional 65,485 shares during the last quarter. Envestnet Asset Management Inc. boosted its stake in shares of Snap-on by 0.4% during the second quarter. Envestnet Asset Management Inc. now owns 732,571 shares of the company's stock valued at $191,487,000 after purchasing an additional 2,616 shares in the last quarter. Finally, Mawer Investment Management Ltd. boosted its position in Snap-on by 234.7% during the 2nd quarter. Mawer Investment Management Ltd. now owns 632,226 shares of the company's stock worth $165,258,000 after buying an additional 443,333 shares during the period. Institutional investors own 84.88% of the company's stock.

Snap-on Stock Up 0.1 %

NYSE SNA traded up $0.26 on Friday, hitting $358.05. 169,763 shares of the company were exchanged, compared to its average volume of 308,315. Snap-on Incorporated has a 12 month low of $252.98 and a 12 month high of $365.35. The company has a current ratio of 4.18, a quick ratio of 3.14 and a debt-to-equity ratio of 0.22. The company has a market cap of $18.80 billion, a PE ratio of 18.41, a PEG ratio of 2.39 and a beta of 0.96. The stock has a fifty day moving average of $307.70 and a 200-day moving average of $284.36.

Snap-on (NYSE:SNA - Get Free Report) 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 business had revenue of $1.15 billion during the quarter, compared to the consensus estimate of $1.16 billion. Snap-on had a net margin of 22.13% and a return on equity of 19.44%. As a group, analysts forecast that Snap-on Incorporated will post 19.05 earnings per share for the current year.

Snap-on announced that its Board of Directors has approved a share buyback program on Thursday, August 8th that allows the company to buyback $500.00 million in outstanding shares. This buyback authorization allows the company to repurchase up to 3.5% of its stock through open market purchases. Stock buyback programs are usually a sign that the company's management believes its stock is undervalued.

Snap-on Increases Dividend

The firm also recently announced 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 annualized dividend and a dividend yield of 2.39%. Snap-on's payout ratio is presently 38.29%.

Insider Buying and Selling

In other Snap-on news, VP Iain Boyd sold 6,044 shares of the company's stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $298.99, for a total value of $1,807,095.56. Following the completion of the sale, the vice president now directly owns 10,493 shares of the company's stock, valued at approximately $3,137,302.07. This represents a 36.55 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 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 directly owns 55,401 shares in the company, valued at approximately $18,460,167.21. This represents a 18.69 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 26,190 shares of company stock worth $8,212,284 in the last quarter. Insiders own 4.10% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the stock. Bank of America upped 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. Roth Mkm raised their price target on shares of Snap-on from $324.00 to $365.00 and gave the stock a "buy" rating in a report on Tuesday, October 22nd. Robert W. Baird upped their price objective on shares of Snap-on from $290.00 to $347.00 and gave the company a "neutral" rating in a research note on Friday, October 18th. Tigress Financial lifted their target price on shares of Snap-on from $336.00 to $385.00 and gave the stock a "buy" rating in a research note on Friday, October 25th. Finally, Barrington Research increased their price target on Snap-on from $325.00 to $350.00 and gave the stock an "outperform" rating in a report on Thursday, October 17th. One analyst has rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, Snap-on currently has a consensus rating of "Hold" and a consensus target price of $345.40.

Snap-on 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.