Snap-on Incorporated (NYSE:SNA) Shares Acquired by Seizert Capital Partners LLC

Seizert Capital Partners LLC increased its position in Snap-on Incorporated (NYSE:SNA - Free Report) by 13.0% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 29,333 shares of the company's stock after purchasing an additional 3,384 shares during the period. Seizert Capital Partners LLC owned 0.06% of Snap-on worth $8,498,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in SNA. Manning & Napier Advisors LLC acquired a new stake in Snap-on in the second quarter valued at $4,571,000. Asset Management One Co. Ltd. grew its stake in Snap-on by 0.3% in the 3rd quarter. Asset Management One Co. Ltd. now owns 19,896 shares of the company's stock valued at $5,764,000 after acquiring an additional 67 shares during the last quarter. SG Americas Securities LLC raised its position in Snap-on by 32.7% during the second quarter. SG Americas Securities LLC now owns 13,140 shares of the company's stock worth $3,435,000 after acquiring an additional 3,238 shares during the last quarter. Strategic Financial Concepts LLC purchased a new stake in shares of Snap-on in the second quarter valued at about $3,653,000. Finally, Empirical Finance LLC grew its position in shares of Snap-on by 105.5% in the second quarter. Empirical Finance LLC now owns 3,994 shares of the company's stock valued at $1,044,000 after purchasing an additional 2,050 shares during the last quarter. Hedge funds and other institutional investors own 84.88% of the company's stock.

Snap-on Trading Down 0.2 %

Shares of NYSE:SNA traded down $0.73 during midday trading on Friday, reaching $357.06. The company's stock had a trading volume of 342,493 shares, compared to its average volume of 433,747. The firm has a market cap of $18.75 billion, a price-to-earnings ratio of 18.38, a price-to-earnings-growth ratio of 2.36 and a beta of 0.96. The business has a 50 day moving average price of $309.42 and a 200 day moving average price of $285.07. Snap-on Incorporated has a 1 year low of $252.98 and a 1 year high of $365.35. The company has a quick ratio of 3.14, a current ratio of 4.18 and a debt-to-equity ratio of 0.22.

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

Snap-on Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Thursday, November 21st will be given a dividend of $2.14 per share. 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. This represents a $8.56 annualized dividend and a yield of 2.40%. Snap-on's dividend payout ratio is 38.29%.

Snap-on declared that its Board of Directors has approved a share buyback plan on Thursday, August 8th that allows the company to repurchase $500.00 million in outstanding shares. This repurchase authorization allows the company to reacquire up to 3.5% of its shares through open market purchases. Shares repurchase plans are often an indication that the company's management believes its stock is undervalued.

Analyst Ratings Changes

SNA has been the subject of several research reports. Tigress Financial lifted their price objective on Snap-on from $336.00 to $385.00 and gave the stock a "buy" rating in a research report on Friday, October 25th. Bank of America increased their price objective on Snap-on from $255.00 to $280.00 and gave the company an "underperform" rating in a research note on Friday, October 18th. Roth Mkm lifted their price objective on Snap-on from $324.00 to $365.00 and gave the stock a "buy" rating in a research report on Tuesday, October 22nd. 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 report on Thursday, October 17th. Finally, Robert W. Baird raised their price target on shares of Snap-on from $290.00 to $347.00 and gave the stock a "neutral" rating in a research note on Friday, October 18th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $345.40.

Insiders Place Their Bets

In related news, VP June C. Lemerand sold 1,186 shares of the stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $283.97, for a total transaction of $336,788.42. Following the completion of the sale, the vice president now owns 2,283 shares of the company's stock, valued at approximately $648,303.51. This represents a 34.19 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Thomas J. Ward sold 12,737 shares of Snap-on 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 transaction, the senior vice president now directly owns 55,401 shares in the company, valued at approximately $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. Insiders have sold a total of 26,190 shares of company stock valued at $8,212,284 over the last quarter. Company insiders own 4.10% of the company's stock.

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.