Snap-On Incorporated $SNA Shares Acquired by Ethic Inc.

Ethic Inc. boosted its stake in shares of Snap-On Incorporated (NYSE:SNA) by 10.8% in the 3rd quarter, Holdings Channel.com reports. The firm owned 16,018 shares of the company’s stock after buying an additional 1,562 shares during the quarter. Ethic Inc.’s holdings in Snap-On were worth $5,820,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently bought and sold shares of the stock. North Dakota State Investment Board grew its position in Snap-On by 1.8% in the 3rd quarter. North Dakota State Investment Board now owns 1,552 shares of the company’s stock worth $564,000 after purchasing an additional 28 shares during the last quarter. TFB Advisors LLC raised its position in shares of Snap-On by 3.9% during the third quarter. TFB Advisors LLC now owns 886 shares of the company’s stock valued at $322,000 after buying an additional 33 shares during the last quarter. Childress Capital Advisors LLC raised its position in shares of Snap-On by 3.1% during the third quarter. Childress Capital Advisors LLC now owns 1,217 shares of the company’s stock valued at $442,000 after buying an additional 37 shares during the last quarter. CX Institutional lifted its stake in shares of Snap-On by 10.6% in the second quarter. CX Institutional now owns 447 shares of the company’s stock valued at $180,000 after buying an additional 43 shares during the period. Finally, Sovran Advisors LLC lifted its stake in shares of Snap-On by 6.7% in the first quarter. Sovran Advisors LLC now owns 752 shares of the company’s stock valued at $288,000 after buying an additional 47 shares during the period. 84.88% of the stock is owned by institutional investors.

Snap-On Trading Up 1.8%

Shares of Snap-On stock opened at $373.84 on Tuesday. Snap-On Incorporated has a 52-week low of $320.80 and a 52-week high of $423.02. The firm has a market capitalization of $19.28 billion, a PE ratio of 19.44, a price-to-earnings-growth ratio of 2.63 and a beta of 0.75. The company has a debt-to-equity ratio of 0.14, a current ratio of 3.55 and a quick ratio of 2.71. The company’s fifty day moving average price is $368.40 and its two-hundred day moving average price is $380.26.

Snap-On (NYSE:SNA) last released its quarterly earnings data on Thursday, October 22nd. The company reported $4.64 EPS for the quarter, missing analysts’ consensus estimates of $4.93 by ($0.29). The business had revenue of $1.18 billion for the quarter, compared to the consensus estimate of $1.24 billion. Snap-On had a return on equity of 16.77% and a net margin of 20.82%. Snap-On’s revenue was down .6% on a year-over-year basis. During the same period in the previous year, the business posted $4.71 earnings per share. On average, analysts expect that Snap-On Incorporated will post 19.24 EPS for the current year.

Snap-On Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 10th. Investors of record on Friday, November 20th will be paid a $2.75 dividend. The ex-dividend date of this dividend is Friday, November 20th. This is an increase from Snap-On’s previous quarterly dividend of $2.44. This represents a $11.00 dividend on an annualized basis and a yield of 2.9%. Snap-On’s payout ratio is presently 50.75%.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the company. Robert W. Baird set a $385.00 target price on Snap-On in a research report on Friday, October 23rd. Barclays cut their price target on Snap-On from $435.00 to $405.00 and set an “overweight” rating for the company in a report on Monday, October 26th. Roth Capital reiterated a “buy” rating and issued a $461.00 price objective (up from $409.00) on shares of Snap-On in a research report on Friday, July 24th. Tigress Financial raised their price objective on Snap-On from $445.00 to $485.00 and gave the stock a “buy” rating in a research report on Friday, July 31st. Finally, Weiss Ratings lowered Snap-On from a “buy (b)” rating to a “buy (b-)” rating in a report on Friday, October 30th. Four equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat, Snap-On presently has an average rating of “Moderate Buy” and a consensus price target of $434.00.

Insider Buying and Selling

In other Snap-On news, CFO Aldo Pagliari sold 5,531 shares of Snap-On stock in a transaction that occurred on Thursday, August 13th. The stock was sold at an average price of $404.25, for a total transaction of $2,235,906.75. Following the sale, the chief financial officer directly owned 120,644 shares of the company’s stock, valued at approximately $48,770,337. The trade was a 4.38% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Nicholas T. Pinchuk sold 22,889 shares of Snap-On stock in a transaction that occurred on Tuesday, August 18th. The shares were sold at an average price of $399.69, for a total value of $9,148,504.41. Following the sale, the chief executive officer directly owned 867,779 shares in the company, valued at $346,842,588.51. The trade was a 2.57% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 29,220 shares of company stock valued at $11,704,411 over the last quarter. Corporate insiders own 3.80% of the company’s stock.

About Snap-On

Snap-on Incorporated develops, manufactures and markets tools, equipment, diagnostics and information systems for professional users. Its offerings include hand and power tools, tool storage, vehicle diagnostic equipment, shop equipment, repair information and software, and related products and services.

The company serves customers in vehicle repair and other industries, including aviation, aerospace, agriculture, construction and manufacturing. Its products and services reach customers in the United States and international markets.

Founded in 1920 as the Snap-on Wrench Company, Snap-on began with interchangeable socket wrench sets and has since expanded into a broad range of professional tools and repair solutions.