Mather Group LLC. Decreases Stake in Snap-on Incorporated (NYSE:SNA)

Mather Group LLC. lessened its holdings in shares of Snap-on Incorporated (NYSE:SNA) by 24.5% in the third quarter, Holdings Channel reports. The firm owned 280 shares of the company’s stock after selling 91 shares during the period. Mather Group LLC.’s holdings in Snap-on were worth $81,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. City Center Advisors LLC increased its holdings in Snap-on by 27.9% in the 3rd quarter. City Center Advisors LLC now owns 931 shares of the company’s stock valued at $270,000 after purchasing an additional 203 shares in the last quarter. Czech National Bank grew its stake in shares of Snap-on by 6.8% in the third quarter. Czech National Bank now owns 10,732 shares of the company’s stock valued at $3,109,000 after buying an additional 685 shares in the last quarter. Handelsbanken Fonder AB raised its holdings in shares of Snap-on by 22.9% during the 3rd quarter. Handelsbanken Fonder AB now owns 41,000 shares of the company’s stock valued at $11,878,000 after buying an additional 7,652 shares during the period. Rockland Trust Co. lifted its position in Snap-on by 18.5% during the 3rd quarter. Rockland Trust Co. now owns 3,396 shares of the company’s stock worth $984,000 after acquiring an additional 531 shares in the last quarter. Finally, SG Americas Securities LLC boosted its holdings in Snap-on by 358.0% in the 3rd quarter. SG Americas Securities LLC now owns 60,177 shares of the company’s stock worth $17,434,000 after acquiring an additional 47,037 shares during the period. 84.88% of the stock is owned by institutional investors and hedge funds.

Snap-on Trading Up 1.9 %

SNA opened at $291.81 on Monday. Snap-on Incorporated has a 12-month low of $249.84 and a 12-month high of $298.49. The company has a debt-to-equity ratio of 0.22, a current ratio of 4.06 and a quick ratio of 3.05. The stock has a market capitalization of $15.37 billion, a PE ratio of 15.17, a P/E/G ratio of 1.99 and a beta of 0.98. The firm’s fifty day moving average price is $280.49 and its 200 day moving average price is $276.06.

Snap-on (NYSE:SNA) last issued its earnings results on Thursday, July 18th. The company reported $5.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.94 by $0.13. The business had revenue of $1.18 billion for the quarter, compared to analyst estimates of $1.20 billion. Snap-on had a net margin of 21.90% and a return on equity of 19.90%. The company’s revenue for the quarter was down 1.0% on a year-over-year basis. During the same quarter in the prior year, the business posted $4.89 EPS. As a group, research analysts expect that Snap-on Incorporated will post 18.95 EPS for the current fiscal year.

Snap-on Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Monday, August 19th were issued a dividend of $1.86 per share. This represents a $7.44 dividend on an annualized basis and a yield of 2.55%. The ex-dividend date of this dividend was Monday, August 19th. Snap-on’s dividend payout ratio is presently 38.67%.

Snap-on announced that its Board of Directors has authorized a stock buyback program on Thursday, August 8th that authorizes the company to repurchase $500.00 million in outstanding shares. This repurchase authorization authorizes the company to repurchase up to 3.5% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s board of directors believes its shares are undervalued.

Analysts Set New Price Targets

A number of research analysts have recently commented on SNA shares. Tigress Financial reissued a “buy” rating and set a $336.00 target price on shares of Snap-on in a research report on Thursday, July 25th. Roth Mkm reiterated a “buy” rating and issued a $324.00 price objective on shares of Snap-on in a report on Tuesday, July 16th. Barrington Research restated an “outperform” rating and set a $325.00 target price on shares of Snap-on in a research note on Friday, September 20th. Finally, Robert W. Baird cut their price target on Snap-on from $282.00 to $275.00 and set a “neutral” rating on the stock in a research note on Friday, July 12th.

Insider Transactions at Snap-on

In related news, CEO Nicholas T. Pinchuk sold 24,145 shares of the company’s stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $268.95, for a total transaction of $6,493,797.75. Following the sale, the chief executive officer now directly owns 759,019 shares of the company’s stock, valued at approximately $204,138,160.05. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, CEO Nicholas T. Pinchuk sold 24,145 shares of the stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $268.95, for a total transaction of $6,493,797.75. Following the sale, the chief executive officer now owns 759,019 shares in the company, valued at $204,138,160.05. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Aldo John Pagliari sold 4,473 shares of Snap-on stock in a transaction that occurred on Thursday, August 22nd. The shares were sold at an average price of $278.74, for a total value of $1,246,804.02. Following the completion of the transaction, the chief financial officer now owns 99,244 shares of the company’s stock, valued at approximately $27,663,272.56. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 29,804 shares of company stock worth $8,077,390. 4.10% of the stock is currently owned by corporate insiders.

Snap-on Company 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.