Intech Investment Management LLC Sells 6,202 Shares of Snap-on Incorporated (NYSE:SNA)

Intech Investment Management LLC lowered its holdings in shares of Snap-on Incorporated (NYSE:SNA - Free Report) by 23.9% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 19,738 shares of the company's stock after selling 6,202 shares during the period. Intech Investment Management LLC's holdings in Snap-on were worth $5,718,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in SNA. Opal Wealth Advisors LLC bought a new stake in shares of Snap-on in the 2nd quarter worth $30,000. Reston Wealth Management LLC bought a new stake in shares of Snap-on in the 3rd quarter worth $30,000. Innealta Capital LLC bought a new stake in shares of Snap-on in the 2nd quarter worth $32,000. Massmutual Trust Co. FSB ADV raised its stake in shares of Snap-on by 53.0% in the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 127 shares of the company's stock worth $37,000 after buying an additional 44 shares in the last quarter. Finally, Quarry LP raised its stake in shares of Snap-on by 244.7% in the 2nd quarter. Quarry LP now owns 162 shares of the company's stock worth $42,000 after buying an additional 115 shares in the last quarter. Institutional investors own 84.88% of the company's stock.

Insider Buying and Selling at Snap-on

In other Snap-on news, SVP Thomas J. Ward sold 12,737 shares of the business's stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $333.21, for a total value of $4,244,095.77. Following the completion of the sale, the senior vice president now owns 55,401 shares of the company's stock, valued at $18,460,167.21. The trade was a 18.69 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP June C. Lemerand sold 1,186 shares of the business's stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $283.97, for a total value of $336,788.42. Following the transaction, the vice president now directly owns 2,283 shares of the company's stock, valued at $648,303.51. This represents a 34.19 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 21,717 shares of company stock worth $6,965,480 over the last 90 days. 4.10% of the stock is currently owned by corporate insiders.

Snap-on Stock Up 1.3 %

Shares of SNA stock traded up $4.57 on Friday, reaching $365.97. 593,063 shares of the company's stock traded hands, compared to its average volume of 362,297. Snap-on Incorporated has a 12-month low of $252.98 and a 12-month high of $367.12. The company has a debt-to-equity ratio of 0.22, a quick ratio of 3.14 and a current ratio of 4.18. The company has a market capitalization of $19.22 billion, a P/E ratio of 18.84, a price-to-earnings-growth ratio of 2.39 and a beta of 0.96. The business's 50 day moving average price is $315.92 and its two-hundred day moving average price is $287.44.

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

Snap-on declared that its board has authorized a stock repurchase program on Thursday, August 8th that allows the company to buyback $500.00 million in shares. This buyback authorization allows the company to reacquire up to 3.5% of its shares through open market purchases. Shares buyback programs are often a sign that the company's board believes its shares are undervalued.

Snap-on Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Thursday, November 21st will be paid a $2.14 dividend. The ex-dividend date of this dividend is Thursday, November 21st. This represents a $8.56 dividend on an annualized basis and a yield of 2.34%. This is an increase from Snap-on's previous quarterly dividend of $1.86. Snap-on's payout ratio is 44.06%.

Analysts Set New Price Targets

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

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.