Snap-on Incorporated (NYSE:SNA) Stock Position Raised by Swedbank AB

Swedbank AB lifted its position in shares of Snap-on Incorporated (NYSE:SNA - Free Report) by 2.7% during the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 51,143 shares of the company's stock after buying an additional 1,351 shares during the period. Swedbank AB owned 0.10% of Snap-on worth $14,817,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the company. Charles Schwab Investment Management Inc. boosted its holdings in shares of Snap-on by 3.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,728,792 shares of the company's stock worth $500,848,000 after purchasing an additional 56,266 shares during the last quarter. Earnest Partners LLC grew its holdings in Snap-on by 1.4% in the 2nd quarter. Earnest Partners LLC now owns 942,743 shares of the company's stock valued at $246,424,000 after buying an additional 13,033 shares during the period. Pacer Advisors Inc. increased its stake in shares of Snap-on by 9.4% during the 3rd quarter. Pacer Advisors Inc. now owns 907,655 shares of the company's stock valued at $262,957,000 after acquiring an additional 78,184 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Snap-on by 8.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 817,536 shares of the company's stock worth $213,686,000 after acquiring an additional 65,485 shares during the period. Finally, Envestnet Asset Management Inc. boosted its position in shares of Snap-on by 0.4% in the second quarter. Envestnet Asset Management Inc. now owns 732,571 shares of the company's stock worth $191,487,000 after acquiring an additional 2,616 shares during the last quarter. Hedge funds and other institutional investors own 84.88% of the company's stock.

Snap-on Stock Performance

Snap-on stock opened at $371.61 on Wednesday. The company has a current ratio of 4.18, a quick ratio of 3.14 and a debt-to-equity ratio of 0.22. The stock has a 50 day moving average of $319.42 and a 200-day moving average of $288.88. The stock has a market cap of $19.51 billion, a P/E ratio of 19.13, a price-to-earnings-growth ratio of 2.45 and a beta of 0.96. Snap-on Incorporated has a 52 week low of $252.98 and a 52 week high of $372.94.

Snap-on (NYSE:SNA - Get Free Report) last issued its quarterly earnings results on Thursday, October 17th. The company reported $4.70 EPS for the quarter, topping the consensus estimate 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 for the quarter, compared to analysts' expectations of $1.16 billion. On average, analysts expect that Snap-on Incorporated will post 19.05 EPS for the current fiscal year.

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

Snap-on Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Thursday, November 21st will be issued a dividend of $2.14 per share. This represents a $8.56 dividend on an annualized basis and a dividend yield of 2.30%. This is a boost from Snap-on's previous quarterly dividend of $1.86. The ex-dividend date is Thursday, November 21st. Snap-on's dividend payout ratio is 44.06%.

Insider Activity

In other Snap-on news, SVP Thomas J. Ward sold 12,737 shares of the firm's stock in a transaction on Monday, October 28th. The stock was sold at an average price of $333.21, for a total value 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. This trade represents a 18.69 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, VP Iain Boyd sold 6,044 shares of Snap-on stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $298.99, for a total transaction of $1,807,095.56. Following the completion of the sale, the vice president now owns 10,493 shares in the company, valued at approximately $3,137,302.07. This represents a 36.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 20,531 shares of company stock valued at $6,628,691. Company insiders own 4.10% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on SNA. Robert W. Baird increased 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. Tigress Financial lifted their target price on Snap-on from $336.00 to $385.00 and gave the company a "buy" rating in a report on Friday, October 25th. Roth Mkm upped their price target on Snap-on from $324.00 to $365.00 and gave the stock a "buy" rating in a research note on Tuesday, October 22nd. Barrington Research boosted their target price on Snap-on from $325.00 to $350.00 and gave the stock an "outperform" rating in a report on Thursday, October 17th. Finally, Bank of America boosted their price target on Snap-on from $255.00 to $280.00 and gave the stock an "underperform" rating in a research report 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. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $345.40.

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.