Snap-on Incorporated (NYSE:SNA) Shares Acquired by Mawer Investment Management Ltd.

Mawer Investment Management Ltd. lifted its holdings in shares of Snap-on Incorporated (NYSE:SNA - Free Report) by 0.3% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 634,022 shares of the company's stock after acquiring an additional 1,796 shares during the quarter. Mawer Investment Management Ltd. owned 1.21% of Snap-on worth $183,683,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of SNA. Opal Wealth Advisors LLC purchased a new stake in Snap-on during the 2nd quarter worth approximately $30,000. Reston Wealth Management LLC bought a new stake in shares of Snap-on in the third quarter worth $30,000. Innealta Capital LLC bought a new stake in shares of Snap-on in the second quarter worth $32,000. Massmutual Trust Co. FSB ADV raised its holdings in Snap-on by 53.0% in the third quarter. Massmutual Trust Co. FSB ADV now owns 127 shares of the company's stock valued at $37,000 after acquiring an additional 44 shares in the last quarter. Finally, Quarry LP grew its holdings in Snap-on by 244.7% during the 2nd quarter. Quarry LP now owns 162 shares of the company's stock worth $42,000 after acquiring an additional 115 shares in the last quarter. Institutional investors and hedge funds own 84.88% of the company's stock.

Insiders Place Their Bets

In related news, CFO Aldo John Pagliari sold 4,473 shares of the company's stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $278.74, for a total value of $1,246,804.02. Following the completion of the sale, the chief financial officer now owns 99,244 shares of the company's stock, valued at $27,663,272.56. This represents a 4.31 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Thomas J. Ward sold 12,737 shares of the firm's stock in a transaction dated 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 transaction, the senior vice president now directly owns 55,401 shares in the company, valued at approximately $18,460,167.21. The trade was a 18.69 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 26,190 shares of company stock worth $8,212,284. Insiders own 4.10% of the company's stock.

Snap-on Stock Performance

Shares of Snap-on stock traded up $0.28 on Monday, reaching $357.34. 272,410 shares of the company were exchanged, compared to its average volume of 308,928. The firm has a market cap of $18.76 billion, a price-to-earnings ratio of 18.38, a P/E/G ratio of 2.36 and a beta of 0.96. Snap-on Incorporated has a 1-year low of $252.98 and a 1-year high of $365.35. 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's 50-day moving average is $309.42 and its two-hundred day moving average is $285.19.

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. 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%. As a group, research analysts expect that Snap-on Incorporated will post 19.05 earnings per share for the current fiscal year.

Snap-on declared that its board has initiated a stock repurchase plan on Thursday, August 8th that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the company to repurchase up to 3.5% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company's board of directors believes its stock is 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 dividend of $2.14 per share. This represents a $8.56 dividend on an annualized basis and a yield of 2.40%. This is a positive change from Snap-on's previous quarterly dividend of $1.86. The ex-dividend date of this dividend is Thursday, November 21st. Snap-on's payout ratio is presently 38.29%.

Analyst Upgrades and Downgrades

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