Mawer Investment Management Ltd. Raises Position in Snap-on Incorporated (NYSE:SNA)

Mawer Investment Management Ltd. grew its stake in Snap-on Incorporated (NYSE:SNA - Free Report) by 14.2% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 723,911 shares of the company's stock after acquiring an additional 89,889 shares during the quarter. Snap-on accounts for 1.1% of Mawer Investment Management Ltd.'s portfolio, making the stock its 26th biggest holding. Mawer Investment Management Ltd. owned about 1.38% of Snap-on worth $245,753,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently modified their holdings of the stock. UMB Bank n.a. boosted its stake in Snap-on by 70.5% in the 4th quarter. UMB Bank n.a. now owns 75 shares of the company's stock worth $25,000 after purchasing an additional 31 shares in the last quarter. SBI Securities Co. Ltd. bought a new position in shares of Snap-on during the fourth quarter valued at $26,000. Migdal Insurance & Financial Holdings Ltd. bought a new position in Snap-on during the fourth quarter valued at approximately $28,000. Brooklyn Investment Group purchased a new position in shares of Snap-on in the 3rd quarter worth $39,000. Finally, CoreFirst Bank & Trust purchased a new position in Snap-on in the fourth quarter worth about $40,000. 84.88% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently commented on the stock. Longbow Research raised shares of Snap-on from a "neutral" rating to a "buy" rating and set a $400.00 price target for the company in a research report on Monday. Barrington Research reiterated an "outperform" rating and issued a $350.00 price target on shares of Snap-on in a research report on Monday, February 10th. Finally, Tigress Financial lifted their price target on shares of Snap-on from $385.00 to $390.00 and gave the stock a "buy" rating in a research note on Tuesday, March 4th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have assigned a buy rating to the company's stock. According to MarketBeat, Snap-on currently has a consensus rating of "Moderate Buy" and an average target price of $355.33.

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Snap-on Stock Performance

Snap-on stock traded up $2.68 during midday trading on Wednesday, hitting $342.26. The stock had a trading volume of 302,372 shares, compared to its average volume of 341,821. The company has a current ratio of 4.15, a quick ratio of 3.17 and a debt-to-equity ratio of 0.22. Snap-on Incorporated has a 52-week low of $252.98 and a 52-week high of $373.90. The company has a market capitalization of $17.94 billion, a PE ratio of 17.55, a P/E/G ratio of 2.21 and a beta of 0.99. The firm's fifty day moving average is $339.60 and its two-hundred day moving average is $334.75.

Snap-on (NYSE:SNA - Get Free Report) last announced its quarterly earnings data on Thursday, February 6th. The company reported $4.82 EPS for the quarter, beating the consensus estimate of $4.78 by $0.04. Snap-on had a net margin of 21.71% and a return on equity of 19.20%. During the same quarter in the prior year, the business posted $4.75 EPS. On average, research analysts forecast that Snap-on Incorporated will post 19.79 EPS for the current year.

Snap-on Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Monday, February 24th were paid a dividend of $2.14 per share. This represents a $8.56 annualized dividend and a yield of 2.50%. The ex-dividend date of this dividend was Monday, February 24th. Snap-on's dividend payout ratio (DPR) is presently 43.90%.

Insider Buying and Selling

In other Snap-on news, CEO Nicholas T. Pinchuk sold 22,700 shares of the stock in a transaction dated Thursday, March 27th. The shares were sold at an average price of $335.32, for a total transaction of $7,611,764.00. Following the completion of the transaction, the chief executive officer now owns 793,932 shares of the company's stock, valued at $266,221,278.24. This represents a 2.78 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Aldo John Pagliari sold 6,860 shares of the firm's stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $339.05, for a total value of $2,325,883.00. Following the transaction, the chief financial officer now owns 107,096 shares of the company's stock, valued at approximately $36,310,898.80. The trade was a 6.02 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 36,011 shares of company stock valued at $12,116,859. Corporate insiders own 3.90% of the company's stock.

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.