National Pension Service Raises Position in Snap-on Incorporated (NYSE:SNA)

National Pension Service grew its stake in Snap-on Incorporated (NYSE:SNA - Free Report) by 4.3% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 113,516 shares of the company's stock after acquiring an additional 4,710 shares during the quarter. National Pension Service owned about 0.22% of Snap-on worth $32,887,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of SNA. Mawer Investment Management Ltd. raised its stake in Snap-on by 234.7% during the second quarter. Mawer Investment Management Ltd. now owns 632,226 shares of the company's stock worth $165,258,000 after purchasing an additional 443,333 shares during the period. Pacer Advisors Inc. raised its position in shares of Snap-on by 51.2% during the 2nd quarter. Pacer Advisors Inc. now owns 829,471 shares of the company's stock valued at $216,815,000 after buying an additional 280,997 shares during the period. Millennium Management LLC lifted its holdings in Snap-on by 1,786.4% in the second quarter. Millennium Management LLC now owns 161,175 shares of the company's stock valued at $42,130,000 after acquiring an additional 152,631 shares during the last quarter. International Assets Investment Management LLC increased its stake in Snap-on by 34,381.0% during the third quarter. International Assets Investment Management LLC now owns 130,338 shares of the company's stock worth $37,760,000 after acquiring an additional 129,960 shares during the last quarter. Finally, Glassman Wealth Services purchased a new stake in Snap-on in the second quarter valued at $26,608,000. Hedge funds and other institutional investors own 84.88% of the company's stock.

Insider Buying and Selling

In other Snap-on news, CEO Nicholas T. Pinchuk sold 24,145 shares of Snap-on stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $268.95, for a total transaction of $6,493,797.75. Following the completion of the sale, the chief executive officer now directly owns 759,019 shares of the company's stock, valued at $204,138,160.05. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, CEO Nicholas T. Pinchuk sold 24,145 shares of Snap-on stock in a transaction on Monday, August 12th. The shares were sold at an average price of $268.95, for a total transaction of $6,493,797.75. Following the sale, the chief executive officer now directly owns 759,019 shares in the company, valued at $204,138,160.05. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Thomas J. Ward sold 12,737 shares of the business's stock in a transaction 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 completion of the sale, the senior vice president now directly owns 55,401 shares of the company's stock, valued at approximately $18,460,167.21. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 50,335 shares of company stock worth $14,706,082. Corporate insiders own 4.10% of the company's stock.

Snap-on Stock Up 1.7 %

SNA stock traded up $6.07 during mid-day trading on Friday, reaching $359.20. The company had a trading volume of 231,614 shares, compared to its average volume of 306,965. The firm has a fifty day simple moving average of $299.65 and a 200 day simple moving average of $281.27. 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 $18.86 billion, a price-to-earnings ratio of 18.47, a price-to-earnings-growth ratio of 2.34 and a beta of 0.96. Snap-on Incorporated has a fifty-two week low of $252.98 and a fifty-two week high of $360.41.

Snap-on announced that its board has authorized a stock buyback plan on Thursday, August 8th that permits the company to repurchase $500.00 million in shares. This repurchase authorization permits the company to purchase up to 3.5% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company's management believes its shares are undervalued.

Snap-on Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Thursday, November 21st will be given a $2.14 dividend. This is an increase from Snap-on's previous quarterly dividend of $1.86. This represents a $8.56 dividend on an annualized basis and a dividend yield of 2.38%. Snap-on's dividend payout ratio is currently 38.29%.

Wall Street Analysts Forecast Growth

A number of research firms have commented on SNA. Barrington Research upped their target price on shares of Snap-on from $325.00 to $350.00 and gave the company an "outperform" rating in a research report on Thursday, October 17th. Roth Mkm increased their price objective on shares of Snap-on from $324.00 to $365.00 and gave the stock a "buy" rating in a research report on Tuesday, October 22nd. Bank of America upped their price target on Snap-on from $255.00 to $280.00 and gave the stock an "underperform" rating in a research note on Friday, October 18th. Tigress Financial boosted their price objective on Snap-on from $336.00 to $385.00 and gave the company a "buy" rating in a report on Friday, October 25th. Finally, Robert W. Baird lifted their target price on Snap-on from $290.00 to $347.00 and gave the company a "neutral" rating in a research report on Friday, October 18th. One analyst has rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the company's stock. Based on data from MarketBeat, Snap-on currently has an average rating of "Hold" and an average target price 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.