Disciplined Growth Investors Inc. MN Grows Stake in Snap-on Incorporated (NYSE:SNA)

Disciplined Growth Investors Inc. MN grew its holdings in Snap-on Incorporated (NYSE:SNA - Free Report) by 4.4% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 381,119 shares of the company's stock after purchasing an additional 16,079 shares during the quarter. Snap-on comprises approximately 2.1% of Disciplined Growth Investors Inc. MN's portfolio, making the stock its 22nd largest holding. Disciplined Growth Investors Inc. MN owned approximately 0.73% of Snap-on worth $110,414,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in SNA. Reston Wealth Management LLC acquired a new stake in Snap-on during the third quarter worth $30,000. Innealta Capital LLC acquired a new stake in shares of Snap-on during the second quarter worth about $32,000. Massmutual Trust Co. FSB ADV boosted its position in Snap-on by 53.0% in the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 127 shares of the company's stock valued at $37,000 after buying an additional 44 shares during the period. Brooklyn Investment Group acquired a new position in Snap-on during the 3rd quarter worth $39,000. Finally, Quarry LP increased its stake in shares of Snap-on by 244.7% during the second quarter. Quarry LP now owns 162 shares of the company's stock worth $42,000 after buying an additional 115 shares during the period. 84.88% of the stock is currently owned by hedge funds and other institutional investors.

Snap-on Stock Performance

Shares of NYSE:SNA traded up $2.19 during midday trading on Tuesday, hitting $356.79. The stock had a trading volume of 165,774 shares, compared to its average volume of 312,493. The company has a market capitalization of $18.74 billion, a PE ratio of 18.26, a P/E/G ratio of 2.37 and a beta of 0.98. Snap-on Incorporated has a 1 year low of $252.98 and a 1 year high of $373.89. The stock has a 50 day moving average price of $335.38 and a two-hundred day moving average price of $295.01. The company has a current ratio of 4.18, a quick ratio of 3.14 and a debt-to-equity ratio of 0.22.

Snap-on (NYSE:SNA - Get Free Report) last issued its earnings results on Thursday, October 17th. The company reported $4.70 earnings per share for the quarter, topping the consensus estimate of $4.58 by $0.12. Snap-on had a net margin of 22.13% and a return on equity of 19.44%. The company had revenue of $1.15 billion for the quarter, compared to analyst estimates of $1.16 billion. As a group, equities analysts predict that Snap-on Incorporated will post 19.05 earnings per share for the current fiscal year.

Snap-on Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Thursday, November 21st will be paid a dividend of $2.14 per share. This is a boost from Snap-on's previous quarterly dividend of $1.86. This represents a $8.56 annualized dividend and a dividend yield of 2.40%. The ex-dividend date is Thursday, November 21st. Snap-on's dividend payout ratio (DPR) is currently 44.06%.

Insider Activity

In related news, CEO Nicholas T. Pinchuk sold 21,783 shares of the business's stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $354.83, for a total value of $7,729,261.89. Following the completion of the sale, the chief executive officer now directly owns 769,738 shares in the company, valued at approximately $273,126,134.54. The trade was a 2.75 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Richard Thomas Miller sold 1,750 shares of the firm's stock in a transaction dated Friday, October 18th. The stock was sold at an average price of $330.00, for a total value of $577,500.00. Following the completion of the transaction, the vice president now owns 3,218 shares in the company, valued at approximately $1,061,940. This trade represents a 35.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 45,814 shares of company stock valued at $15,627,963 over the last 90 days. Insiders own 4.10% of the company's stock.

Analyst Upgrades and Downgrades

SNA has been the subject of several research analyst reports. Bank of America upped their target price on shares of Snap-on from $255.00 to $280.00 and gave the company an "underperform" rating in a report on Friday, October 18th. Robert W. Baird raised their price objective on Snap-on from $290.00 to $347.00 and gave the stock a "neutral" rating in a report on Friday, October 18th. Tigress Financial boosted their target price on Snap-on from $336.00 to $385.00 and gave the company a "buy" rating in a report on Friday, October 25th. Barrington Research raised 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. Finally, Roth Mkm boosted their price objective on Snap-on from $324.00 to $365.00 and gave the company a "buy" rating in a research note on Tuesday, October 22nd. 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 company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target 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.