Two Sigma Advisers LP Increases Holdings in Snap-on Incorporated (NYSE:SNA)

Two Sigma Advisers LP boosted its stake in Snap-on Incorporated (NYSE:SNA - Free Report) by 3.8% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 58,000 shares of the company's stock after purchasing an additional 2,100 shares during the period. Two Sigma Advisers LP owned about 0.11% of Snap-on worth $16,803,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of SNA. State Street Corp increased its holdings in Snap-on by 0.5% during the 3rd quarter. State Street Corp now owns 2,115,973 shares of the company's stock worth $613,019,000 after acquiring an additional 10,645 shares during the period. Charles Schwab Investment Management Inc. increased its position in Snap-on by 3.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,728,792 shares of the company's stock valued at $500,848,000 after buying an additional 56,266 shares in the last quarter. Earnest Partners LLC lifted its position in Snap-on by 1.4% during the second quarter. Earnest Partners LLC now owns 942,743 shares of the company's stock valued at $246,424,000 after purchasing an additional 13,033 shares during the period. Pacer Advisors Inc. grew its position 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 period. Finally, Dimensional Fund Advisors LP raised its stake in 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. Institutional investors and hedge funds own 84.88% of the company's stock.

Analysts Set New Price Targets

A number of research firms recently commented on SNA. Bank of America increased their target price on shares of Snap-on from $255.00 to $280.00 and gave the company an "underperform" rating in a research report on Friday, October 18th. Roth Mkm upped their price objective 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 upped their price target on Snap-on from $336.00 to $385.00 and gave the stock a "buy" rating in a research note on Friday, October 25th. Robert W. Baird boosted their target price 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. Finally, Barrington Research raised their target price on shares of Snap-on from $325.00 to $350.00 and gave the stock an "outperform" rating in a research report on Thursday, October 17th. One investment 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 MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $345.40.

Insider Transactions at Snap-on

In other news, VP June C. Lemerand sold 3,500 shares of the company's stock in a transaction dated 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 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 document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Thomas J. Ward sold 12,737 shares of Snap-on stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $333.21, for a total value of $4,244,095.77. Following the transaction, the senior vice president now owns 55,401 shares of the company's stock, valued at $18,460,167.21. This trade represents a 18.69 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 24,031 shares of company stock worth $7,898,701. 4.10% of the stock is owned by insiders.

Snap-on Stock Performance

Shares of Snap-on stock traded down $3.05 during trading on Monday, reaching $354.72. The company's stock had a trading volume of 453,229 shares, compared to its average volume of 313,148. 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 business's fifty day moving average price is $334.08 and its 200-day moving average price is $294.41. The firm has a market cap of $18.63 billion, a price-to-earnings ratio of 18.41, a price-to-earnings-growth ratio of 2.37 and a beta of 0.98.

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 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 firm had revenue of $1.15 billion during the quarter, compared to analysts' expectations of $1.16 billion. As a group, equities research analysts predict that Snap-on Incorporated will post 19.05 earnings per share for the current year.

Snap-on Increases Dividend

The firm 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 dividend of $2.14 per share. This represents a $8.56 dividend on an annualized basis and a yield of 2.41%. The ex-dividend date of this dividend is Thursday, November 21st. This is an increase from Snap-on's previous quarterly dividend of $1.86. Snap-on's payout ratio is 44.06%.

Snap-on Company 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.