United Capital Management of KS Inc. Invests $4.03 Million in Snap-on Incorporated (NYSE:SNA)

United Capital Management of KS Inc. bought a new stake in shares of Snap-on Incorporated (NYSE:SNA - Free Report) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 13,906 shares of the company's stock, valued at approximately $4,029,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Earnest Partners LLC grew its stake in Snap-on by 1.4% in 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 last quarter. Pacer Advisors Inc. boosted its stake in Snap-on by 51.2% in the second quarter. Pacer Advisors Inc. now owns 829,471 shares of the company's stock valued at $216,815,000 after acquiring an additional 280,997 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in Snap-on by 8.7% in the second quarter. Dimensional Fund Advisors LP now owns 817,536 shares of the company's stock worth $213,686,000 after purchasing an additional 65,485 shares during the last quarter. Envestnet Asset Management Inc. lifted its holdings in shares of Snap-on by 0.4% during the 2nd quarter. Envestnet Asset Management Inc. now owns 732,571 shares of the company's stock valued at $191,487,000 after purchasing an additional 2,616 shares during the last quarter. Finally, Mawer Investment Management Ltd. boosted its position in shares of Snap-on by 234.7% in the 2nd quarter. Mawer Investment Management Ltd. now owns 632,226 shares of the company's stock worth $165,258,000 after purchasing an additional 443,333 shares in the last quarter. 84.88% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on SNA. Barrington Research upped their target price on Snap-on from $325.00 to $350.00 and gave the company an "outperform" rating in a research report on Thursday, October 17th. Robert W. Baird raised their price target on shares of Snap-on from $290.00 to $347.00 and gave the stock a "neutral" rating in a report on Friday, October 18th. Bank of America boosted their price objective on shares of Snap-on from $255.00 to $280.00 and gave the company an "underperform" rating in a report on Friday, October 18th. Tigress Financial raised their target price on Snap-on from $336.00 to $385.00 and gave the stock a "buy" rating in a research note on Friday, October 25th. Finally, Roth Mkm boosted 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. One analyst has rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $345.40.

Insider Activity

In other Snap-on news, VP June C. Lemerand sold 1,186 shares of the business's stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $283.97, for a total transaction of $336,788.42. Following the sale, the vice president now directly owns 2,283 shares in the company, valued at $648,303.51. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Snap-on news, SVP Thomas J. Ward sold 12,737 shares of the company's stock in a transaction dated Monday, October 28th. The stock was 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 owns 55,401 shares in the company, valued at $18,460,167.21. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP June C. Lemerand sold 1,186 shares of the business's stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $283.97, for a total value of $336,788.42. Following the transaction, the vice president now directly owns 2,283 shares of the company's stock, valued at approximately $648,303.51. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 26,190 shares of company stock valued at $8,212,284. 4.10% of the stock is currently owned by corporate insiders.

Snap-on Price Performance

SNA traded up $3.21 during trading on Monday, hitting $362.48. The company's stock had a trading volume of 217,856 shares, compared to its average volume of 307,131. 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 firm has a market capitalization of $19.03 billion, a price-to-earnings ratio of 18.49, a P/E/G ratio of 2.38 and a beta of 0.96. The business's fifty day simple moving average is $301.16 and its 200 day simple moving average is $282.03. Snap-on Incorporated has a twelve month low of $252.98 and a twelve month high of $363.20.

Snap-on (NYSE:SNA - Get Free Report) last announced its earnings results on Thursday, October 17th. The company reported $4.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.58 by $0.12. The business had revenue of $1.15 billion for 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%. On average, equities research analysts forecast that Snap-on Incorporated will post 19.05 EPS for the current fiscal year.

Snap-on Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Thursday, November 21st will be given a dividend of $2.14 per share. This is a positive change from Snap-on's previous quarterly dividend of $1.86. This represents a $8.56 annualized dividend and a dividend yield of 2.36%. The ex-dividend date is Thursday, November 21st. Snap-on's dividend payout ratio (DPR) is currently 38.29%.

Snap-on announced that its Board of Directors has approved a share 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 repurchase up to 3.5% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company's management believes its stock is undervalued.

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.