Holocene Advisors LP Boosts Position in Snap-on Incorporated (NYSE:SNA)

Holocene Advisors LP increased its position in shares of Snap-on Incorporated (NYSE:SNA - Free Report) by 145.3% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 28,529 shares of the company's stock after acquiring an additional 16,900 shares during the period. Holocene Advisors LP owned approximately 0.05% of Snap-on worth $8,265,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Reston Wealth Management LLC bought a new stake in Snap-on during the 3rd quarter worth approximately $30,000. Opal Wealth Advisors LLC bought a new stake in Snap-on during the 2nd quarter worth approximately $30,000. Innealta Capital LLC bought a new position in shares of Snap-on in the 2nd quarter worth $32,000. Massmutual Trust Co. FSB ADV increased its holdings in shares of Snap-on by 53.0% in the 3rd 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 last quarter. Finally, Brooklyn Investment Group bought a new position in shares of Snap-on in the 3rd quarter worth $39,000. Institutional investors own 84.88% of the company's stock.

Insiders Place Their Bets

In related news, VP June C. Lemerand sold 3,500 shares of the company's stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $362.86, for a total transaction of $1,270,010.00. Following the completion of the transaction, the vice president now owns 2,289 shares in the company, valued at approximately $830,586.54. This represents a 60.46 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Thomas J. Ward sold 12,737 shares of the company'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 sale, 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. Insiders sold a total of 24,031 shares of company stock worth $7,898,701 over the last three months. 4.10% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several equities analysts recently commented on the stock. Robert W. Baird increased 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. Roth Mkm lifted their target price on shares of Snap-on from $324.00 to $365.00 and gave the company a "buy" rating in a research note on Tuesday, October 22nd. Tigress Financial lifted their target price on shares of Snap-on from $336.00 to $385.00 and gave the company a "buy" rating in a research note on Friday, October 25th. Barrington Research boosted their price objective on shares of Snap-on from $325.00 to $350.00 and gave the stock an "outperform" rating in a research note on Thursday, October 17th. Finally, Bank of America lifted their target price on shares of Snap-on from $255.00 to $280.00 and gave the stock an "underperform" rating in a report on Friday, October 18th. One investment 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 target price of $345.40.

Snap-on Stock Performance

Shares of SNA traded down $2.22 during mid-day trading on Wednesday, hitting $362.89. 265,573 shares of the company traded hands, compared to its average volume of 311,958. 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 stock has a 50-day moving average price of $331.26 and a two-hundred day moving average price of $293.14. Snap-on Incorporated has a 1 year low of $252.98 and a 1 year high of $373.89. The stock has a market cap of $19.06 billion, a price-to-earnings ratio of 18.68, a P/E/G ratio of 2.43 and a beta of 0.98.

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

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

Snap-on Increases Dividend

The company also recently declared 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 a positive change 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 2.36%. The ex-dividend date is Thursday, November 21st. Snap-on's dividend payout ratio is presently 44.06%.

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.