Lindenwold Advisors INC Grows Holdings in Snap-on Incorporated (NYSE:SNA)

Lindenwold Advisors INC boosted its holdings in Snap-on Incorporated (NYSE:SNA - Free Report) by 71.1% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 7,885 shares of the company's stock after buying an additional 3,277 shares during the quarter. Snap-on makes up about 1.2% of Lindenwold Advisors INC's holdings, making the stock its 27th largest position. Lindenwold Advisors INC's holdings in Snap-on were worth $2,284,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in SNA. Earnest Partners LLC grew its stake in shares of Snap-on by 1.4% during the 2nd quarter. Earnest Partners LLC now owns 942,743 shares of the company's stock worth $246,424,000 after purchasing an additional 13,033 shares during the period. Pacer Advisors Inc. increased its position in Snap-on by 51.2% during 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 period. Envestnet Asset Management Inc. boosted its holdings in Snap-on by 0.4% in the 2nd quarter. Envestnet Asset Management Inc. now owns 732,571 shares of the company's stock worth $191,487,000 after acquiring an additional 2,616 shares during the period. Finally, Mawer Investment Management Ltd. lifted its stake in shares of Snap-on by 0.3% in the third quarter. Mawer Investment Management Ltd. now owns 634,022 shares of the company's stock worth $183,683,000 after acquiring an additional 1,796 shares in the last quarter. 84.88% of the stock is currently owned by hedge funds and other institutional investors.

Snap-on Stock Down 0.7 %

SNA traded down $2.60 during trading on Tuesday, hitting $354.74. 393,894 shares of the company's stock were exchanged, compared to its average volume of 309,307. 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 stock has a market cap of $18.63 billion, a P/E ratio of 18.26, a PEG ratio of 2.36 and a beta of 0.96. The business's 50 day moving average is $312.62 and its two-hundred day moving average is $286.42. Snap-on Incorporated has a fifty-two week low of $252.98 and a fifty-two week high of $365.35.

Snap-on (NYSE:SNA - Get Free Report) last announced its quarterly earnings results on Thursday, October 17th. The company reported $4.70 earnings per share for the quarter, beating the consensus estimate of $4.58 by $0.12. The company had revenue of $1.15 billion during 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%. As a group, equities analysts expect that Snap-on Incorporated will post 19.05 earnings per share for the current fiscal year.

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

Snap-on Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Thursday, November 21st will be paid a dividend of $2.14 per share. This represents a $8.56 annualized dividend and a dividend yield of 2.41%. This is an increase from Snap-on's previous quarterly dividend of $1.86. The ex-dividend date of this dividend is Thursday, November 21st. Snap-on's dividend payout ratio is 38.29%.

Insider Buying and Selling at Snap-on

In other Snap-on news, CFO Aldo John Pagliari sold 4,473 shares of the business's stock in a transaction dated Thursday, August 22nd. The stock was sold at an average price of $278.74, for a total value of $1,246,804.02. Following the completion of the transaction, the chief financial officer now owns 99,244 shares of the company's stock, valued at approximately $27,663,272.56. The trade was a 4.31 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Thomas J. Ward sold 12,737 shares of the business's stock in a transaction that occurred 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 sale, the senior vice president now owns 55,401 shares of the company's stock, valued at $18,460,167.21. This trade represents a 18.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 26,190 shares of company stock valued at $8,212,284. 4.10% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several brokerages have weighed in on SNA. Bank of America increased their target price on Snap-on from $255.00 to $280.00 and gave the stock an "underperform" rating in a research report on Friday, October 18th. Robert W. Baird boosted their price target on 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 raised 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. Roth Mkm boosted their price target on shares of Snap-on from $324.00 to $365.00 and gave the company a "buy" rating in a report on Tuesday, October 22nd. Finally, Barrington Research boosted their target price on shares of Snap-on from $325.00 to $350.00 and gave the company an "outperform" rating in a research note on Thursday, October 17th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of "Hold" and an average 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.