UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Has $82.12 Million Stock Holdings in Snap-on Incorporated (NYSE:SNA)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC decreased its position in Snap-on Incorporated (NYSE:SNA - Free Report) by 7.7% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 283,446 shares of the company's stock after selling 23,702 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned about 0.54% of Snap-on worth $82,117,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the business. Cetera Advisors LLC increased its holdings in shares of Snap-on by 41.4% during the 1st quarter. Cetera Advisors LLC now owns 10,311 shares of the company's stock worth $3,054,000 after buying an additional 3,018 shares during the last quarter. GAMMA Investing LLC boosted its stake in Snap-on by 25.1% in the second quarter. GAMMA Investing LLC now owns 519 shares of the company's stock valued at $136,000 after acquiring an additional 104 shares during the period. DNB Asset Management AS lifted its position in Snap-on by 4.4% in the 2nd quarter. DNB Asset Management AS now owns 13,365 shares of the company's stock valued at $3,493,000 after purchasing an additional 569 shares during the last quarter. Park Avenue Securities LLC grew its holdings in Snap-on by 1.1% in the 2nd quarter. Park Avenue Securities LLC now owns 27,973 shares of the company's stock worth $7,312,000 after buying an additional 293 shares in the last quarter. Finally, RDA Financial Network raised its position in shares of Snap-on by 2.3% during the 2nd quarter. RDA Financial Network now owns 1,990 shares of the company's stock worth $520,000 after buying an additional 44 shares in the last quarter. 84.88% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Snap-on

In related news, VP Richard Thomas Miller sold 1,750 shares of the business's stock in a transaction that occurred on Friday, October 18th. The stock was sold at an average price of $330.00, for a total value of $577,500.00. Following the completion of the sale, the vice president now owns 3,218 shares of the company's stock, valued at approximately $1,061,940. The trade was a 35.23 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Thomas J. Ward sold 12,737 shares of Snap-on stock in a transaction dated 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 completion of the transaction, the senior vice president now owns 55,401 shares in the company, valued at $18,460,167.21. The trade was a 18.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 20,531 shares of company stock valued at $6,628,691 in the last quarter. Corporate insiders own 4.10% of the company's stock.

Snap-on Stock Performance

NYSE SNA traded down $1.78 during trading hours on Tuesday, hitting $365.10. 269,492 shares of the company's stock traded hands, compared to its average volume of 312,157. The firm has a market capitalization of $19.17 billion, a P/E ratio of 18.79, a P/E/G ratio of 2.43 and a beta of 0.98. Snap-on Incorporated has a 52 week low of $252.98 and a 52 week high of $373.89. The business's fifty day moving average price is $328.05 and its two-hundred day moving average price is $292.05. The company has a current ratio of 4.18, a quick ratio of 3.14 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. The business had revenue of $1.15 billion during the quarter, compared to analyst estimates of $1.16 billion. Snap-on had a net margin of 22.13% and a return on equity of 19.44%. Equities research analysts predict that Snap-on Incorporated will post 19.05 EPS for the current year.

Snap-on announced that its Board of Directors has authorized a share repurchase plan on Thursday, August 8th that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes 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 board of directors believes its stock is undervalued.

Snap-on Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Thursday, November 21st will be paid a $2.14 dividend. This represents a $8.56 dividend on an annualized basis and a dividend yield of 2.34%. This is an increase from Snap-on's previous quarterly dividend of $1.86. The ex-dividend date of this dividend is Thursday, November 21st. Snap-on's payout ratio is 44.06%.

Analyst Ratings Changes

A number of brokerages recently weighed in on SNA. Barrington Research lifted their price target on Snap-on from $325.00 to $350.00 and gave the stock an "outperform" rating in a research note on Thursday, October 17th. Robert W. Baird boosted their target price on shares of Snap-on from $290.00 to $347.00 and gave the company a "neutral" rating in a research note on Friday, October 18th. Roth Mkm upped their price target on 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 boosted their target price on Snap-on from $336.00 to $385.00 and gave the company a "buy" rating in a research note on Friday, October 25th. Finally, Bank of America upped their price target on shares of Snap-on from $255.00 to $280.00 and gave the company an "underperform" rating in a research note on Friday, October 18th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the company's stock. Based on data from MarketBeat, Snap-on has an average rating of "Hold" and a consensus 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.