Fjarde AP Fonden Fourth Swedish National Pension Fund grew its position in shares of Snap-On Incorporated (NYSE:SNA) by 15.4% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 17,222 shares of the company’s stock after acquiring an additional 2,292 shares during the quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings in Snap-On were worth $2,566,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the business. Comerica Bank raised its stake in shares of Snap-On by 2.8% during the 3rd quarter. Comerica Bank now owns 17,304 shares of the company’s stock worth $2,718,000 after purchasing an additional 478 shares in the last quarter. Bristol Gate Capital Partners Inc. raised its stake in shares of Snap-On by 11.0% during the 3rd quarter. Bristol Gate Capital Partners Inc. now owns 209,855 shares of the company’s stock worth $31,270,000 after purchasing an additional 20,846 shares in the last quarter. Rhumbline Advisers raised its stake in shares of Snap-On by 1.5% during the 3rd quarter. Rhumbline Advisers now owns 119,599 shares of the company’s stock worth $17,821,000 after purchasing an additional 1,735 shares in the last quarter. Advisor Group Inc. raised its stake in shares of Snap-On by 14.7% during the 3rd quarter. Advisor Group Inc. now owns 6,665 shares of the company’s stock worth $992,000 after purchasing an additional 855 shares in the last quarter. Finally, Toronto Dominion Bank raised its stake in shares of Snap-On by 11.3% during the 3rd quarter. Toronto Dominion Bank now owns 21,858 shares of the company’s stock worth $3,257,000 after purchasing an additional 2,227 shares in the last quarter. 98.76% of the stock is owned by hedge funds and other institutional investors.

Shares of Snap-On Incorporated (NYSE:SNA) opened at $161.12 on Wednesday. The stock has a market capitalization of $9,088.09, a price-to-earnings ratio of 16.09, a PEG ratio of 1.48 and a beta of 1.12. Snap-On Incorporated has a 1-year low of $140.83 and a 1-year high of $181.73. The company has a current ratio of 1.75, a quick ratio of 1.22 and a debt-to-equity ratio of 0.26.

Snap-On (NYSE:SNA) last released its quarterly earnings data on Thursday, October 19th. The company reported $2.45 earnings per share for the quarter, beating the consensus estimate of $2.43 by $0.02. The business had revenue of $903.80 million for the quarter, compared to analyst estimates of $889.22 million. Snap-On had a return on equity of 20.82% and a net margin of 15.95%. Snap-On’s revenue was up 8.4% compared to the same quarter last year. During the same period last year, the firm posted $2.22 earnings per share. research analysts anticipate that Snap-On Incorporated will post 10.09 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 8th. Investors of record on Friday, November 17th will be paid a $0.82 dividend. The ex-dividend date is Thursday, November 16th. This is a positive change from Snap-On’s previous quarterly dividend of $0.71. This represents a $3.28 annualized dividend and a yield of 2.04%. Snap-On’s dividend payout ratio (DPR) is 33.64%.

Snap-On announced that its board has authorized a stock repurchase plan on Monday, August 7th that allows the company to repurchase $500.00 million in outstanding shares. This repurchase authorization allows the company to purchase shares of its stock through open market purchases. Shares repurchase plans are typically a sign that the company’s leadership believes its stock is undervalued.

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A number of equities research analysts recently weighed in on the company. Barrington Research upgraded Snap-On from a “market perform” rating to an “outperform” rating and set a $185.00 price target on the stock in a research note on Monday, October 23rd. B. Riley restated a “buy” rating on shares of Snap-On in a research note on Wednesday, November 1st. Jefferies Group LLC restated a “hold” rating and issued a $175.00 price target on shares of Snap-On in a research note on Friday, November 3rd. BidaskClub upgraded Snap-On from a “strong sell” rating to a “sell” rating in a research report on Monday, July 31st. Finally, Oppenheimer Holdings, Inc. reiterated a “buy” rating and set a $177.00 price objective on shares of Snap-On in a research report on Thursday, October 19th. Two analysts have rated the stock with a sell rating, two have issued a hold rating and seven have given a buy rating to the company’s stock. Snap-On presently has a consensus rating of “Hold” and an average price target of $192.00.

Snap-On Company Profile

Snap-on Incorporated is a manufacturer and marketer of tools, equipment, diagnostics, repair information and systems solutions. The Company’s segments include the Commercial & Industrial Group, the Snap-on Tools Group, the Repair Systems & Information Group, and Financial Services. The Commercial & Industrial Group consists of business operations serving a range of industrial and commercial customers, including customers in the aerospace, natural resources, government, power generation, transportation and technical education markets.

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Institutional Ownership by Quarter for Snap-On (NYSE:SNA)

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