Fmr LLC Raises Holdings in Snap-on Incorporated (NYSE:SNA)

FMR LLC lifted its position in Snap-on Incorporated (NYSE:SNA - Free Report) by 16.3% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 57,543 shares of the company's stock after purchasing an additional 8,073 shares during the period. FMR LLC owned about 0.11% of Snap-on worth $16,671,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the company. Reston Wealth Management LLC bought a new position in Snap-on in the 3rd quarter worth $30,000. Innealta Capital LLC bought a new position in Snap-on in the second quarter worth about $32,000. Massmutual Trust Co. FSB ADV lifted 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 worth $37,000 after buying an additional 44 shares during the period. Quarry LP lifted its position in Snap-on by 244.7% during the second quarter. Quarry LP now owns 162 shares of the company's stock valued at $42,000 after buying an additional 115 shares during the period. Finally, nVerses Capital LLC bought a new stake in Snap-on during the third quarter worth about $58,000. 84.88% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the stock. Robert W. Baird lifted their target price on shares of Snap-on from $290.00 to $347.00 and gave the company a "neutral" rating in a report on Friday, October 18th. Tigress Financial raised 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. Barrington Research raised their price objective 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. Bank of America upped their target price on shares of Snap-on from $255.00 to $280.00 and gave the stock an "underperform" rating in a research note on Friday, October 18th. Finally, Roth Mkm raised their price target on shares of Snap-on from $324.00 to $365.00 and gave the company a "buy" rating in a research report on Tuesday, October 22nd. One investment analyst has rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $345.40.

Snap-on Stock Performance

Shares of SNA stock traded up $1.05 during trading hours on Wednesday, reaching $355.83. The company had a trading volume of 386,086 shares, compared to its average volume of 313,799. The company has a debt-to-equity ratio of 0.22, a quick ratio of 3.14 and a current ratio of 4.18. Snap-on Incorporated has a one year low of $252.98 and a one year high of $373.89. The firm has a market cap of $18.68 billion, a PE ratio of 18.26, a price-to-earnings-growth ratio of 2.37 and a beta of 0.98. The business has a fifty day moving average price of $336.71 and a 200-day moving average price of $295.60.

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

Snap-on Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Thursday, November 21st were given a dividend of $2.14 per share. This is a boost 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 2.41%. The ex-dividend date was Thursday, November 21st. Snap-on's payout ratio is presently 44.06%.

Insider Buying and Selling

In other news, CEO Nicholas T. Pinchuk sold 21,783 shares of the firm's stock in a transaction on Monday, December 9th. The shares were sold at an average price of $354.83, for a total transaction of $7,729,261.89. Following the sale, the chief executive officer now directly owns 769,738 shares in the company, valued at $273,126,134.54. This trade represents a 2.75 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Iain Boyd sold 6,044 shares of the company's stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $298.99, for a total transaction of $1,807,095.56. Following the completion of the transaction, the vice president now directly owns 10,493 shares of the company's stock, valued at $3,137,302.07. This represents a 36.55 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 45,814 shares of company stock valued at $15,627,963. 4.10% of the stock is owned by corporate insiders.

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.