Wellington Management Group LLP Buys 7,148 Shares of Snap-on Incorporated (NYSE:SNA)

Wellington Management Group LLP grew its position in Snap-on Incorporated (NYSE:SNA - Free Report) by 77.9% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 16,319 shares of the company's stock after acquiring an additional 7,148 shares during the period. Wellington Management Group LLP's holdings in Snap-on were worth $4,728,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of SNA. Aurora Investment Counsel raised its position in Snap-on by 0.9% in the 3rd quarter. Aurora Investment Counsel now owns 3,549 shares of the company's stock worth $1,028,000 after purchasing an additional 30 shares during the last quarter. Lake Street Advisors Group LLC raised its position in Snap-on by 3.1% in the 3rd quarter. Lake Street Advisors Group LLC now owns 1,074 shares of the company's stock worth $311,000 after purchasing an additional 32 shares during the last quarter. Metis Global Partners LLC raised its position in Snap-on by 1.9% in the 3rd quarter. Metis Global Partners LLC now owns 1,691 shares of the company's stock worth $490,000 after purchasing an additional 32 shares during the last quarter. Tradition Wealth Management LLC raised its position in Snap-on by 3.1% in the 3rd quarter. Tradition Wealth Management LLC now owns 1,154 shares of the company's stock worth $334,000 after purchasing an additional 35 shares during the last quarter. Finally, Verdence Capital Advisors LLC raised its position in Snap-on by 2.5% in the 3rd quarter. Verdence Capital Advisors LLC now owns 1,526 shares of the company's stock worth $442,000 after purchasing an additional 37 shares during the last quarter. Institutional investors own 84.88% of the company's stock.

Analyst Upgrades and Downgrades

SNA has been the subject of a number of analyst reports. Robert W. Baird lifted their target price 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. Barrington Research lifted their target price on shares of Snap-on from $325.00 to $350.00 and gave the stock an "outperform" rating in a report on Thursday, October 17th. Roth Mkm lifted their target price on shares of Snap-on from $324.00 to $365.00 and gave the stock a "buy" rating in a report on Tuesday, October 22nd. 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. Finally, Tigress Financial lifted their target price on shares of Snap-on from $336.00 to $385.00 and gave the stock a "buy" rating in a report on Friday, October 25th. One analyst has rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $345.40.

Snap-on Trading Down 0.9 %

Shares of SNA stock traded down $3.29 on Tuesday, hitting $348.90. The stock had a trading volume of 328,611 shares, compared to its average volume of 313,995. Snap-on Incorporated has a twelve month low of $252.98 and a twelve month high of $373.89. The firm has a market cap of $18.32 billion, a P/E ratio of 17.95, a PEG ratio of 2.35 and a beta of 0.98. 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 company has a fifty day moving average price of $342.04 and a two-hundred day moving average price of $298.03.

Snap-on (NYSE:SNA - Get Free Report) last announced its earnings results on Thursday, October 17th. The company reported $4.70 earnings per share for the quarter, topping analysts' consensus estimates of $4.58 by $0.12. The firm 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%. As a group, analysts forecast that Snap-on Incorporated will post 19.05 earnings per share for the current fiscal year.

Snap-on Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 10th. Investors of record on Thursday, November 21st were paid a $2.14 dividend. The ex-dividend date was Thursday, November 21st. 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 yield of 2.45%. Snap-on's dividend payout ratio is presently 44.06%.

Insider Buying and Selling

In other news, VP Iain Boyd sold 6,044 shares of the company's stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $298.99, for a total value of $1,807,095.56. Following the sale, the vice president now directly owns 10,493 shares of the company's stock, valued at approximately $3,137,302.07. This represents a 36.55 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Richard Thomas Miller sold 1,750 shares of the company's stock in a transaction dated Friday, October 18th. The shares were sold at an average price of $330.00, for a total transaction of $577,500.00. Following the completion of the sale, the vice president now directly owns 3,218 shares in the company, valued at approximately $1,061,940. The trade was a 35.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 45,814 shares of company stock valued at $15,627,963. Company insiders own 4.10% of the company's stock.

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.