Asset Management One Co. Ltd. Has $5.76 Million Stock Position in Snap-on Incorporated (NYSE:SNA)

Asset Management One Co. Ltd. boosted its stake in shares of Snap-on Incorporated (NYSE:SNA) by 0.3% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 19,896 shares of the company’s stock after purchasing an additional 67 shares during the quarter. Asset Management One Co. Ltd.’s holdings in Snap-on were worth $5,764,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Mutual of America Capital Management LLC lifted its position in shares of Snap-on by 0.8% in the 1st quarter. Mutual of America Capital Management LLC now owns 10,376 shares of the company’s stock valued at $3,074,000 after acquiring an additional 79 shares in the last quarter. Empirical Finance LLC lifted its holdings in shares of Snap-on by 3.5% in the first quarter. Empirical Finance LLC now owns 1,944 shares of the company’s stock valued at $576,000 after purchasing an additional 65 shares in the last quarter. SG Americas Securities LLC boosted its position in shares of Snap-on by 142.3% in the first quarter. SG Americas Securities LLC now owns 9,902 shares of the company’s stock worth $2,933,000 after buying an additional 5,815 shares during the period. Oppenheimer & Co. Inc. grew its holdings in shares of Snap-on by 4.4% during the first quarter. Oppenheimer & Co. Inc. now owns 18,477 shares of the company’s stock valued at $5,473,000 after buying an additional 782 shares in the last quarter. Finally, Forsta AP Fonden grew its holdings in shares of Snap-on by 11.7% during the first quarter. Forsta AP Fonden now owns 11,500 shares of the company’s stock valued at $3,407,000 after buying an additional 1,200 shares in the last quarter. 84.88% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have commented on SNA shares. Roth Mkm raised their price objective on Snap-on from $324.00 to $365.00 and gave the stock a “buy” rating in a research report on Tuesday, October 22nd. Tigress Financial boosted their price objective on shares of Snap-on from $336.00 to $385.00 and gave the company a “buy” rating in a research report on Friday, October 25th. Bank of America upped their price objective on shares of Snap-on from $255.00 to $280.00 and gave the company an “underperform” rating in a research note on Friday, October 18th. Robert W. Baird lifted their target price on shares of Snap-on from $290.00 to $347.00 and gave the company a “neutral” rating in a research note on Friday, October 18th. Finally, Barrington Research upped their price target on shares of Snap-on from $325.00 to $350.00 and gave the stock an “outperform” rating in a research note on Thursday, October 17th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $345.40.

Snap-on Stock Up 1.8 %

Snap-on stock opened at $359.37 on Friday. The company has a current ratio of 4.18, a quick ratio of 3.14 and a debt-to-equity ratio of 0.22. Snap-on Incorporated has a 1-year low of $252.98 and a 1-year high of $360.41. The firm’s fifty day simple moving average is $301.16 and its 200-day simple moving average is $281.90. The company has a market capitalization of $18.87 billion, a P/E ratio of 18.50, a P/E/G ratio of 2.34 and a beta of 0.96.

Snap-on Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Thursday, November 21st will be given a $2.14 dividend. This represents a $8.56 dividend on an annualized basis and a dividend yield of 2.38%. This is a boost from Snap-on’s previous quarterly dividend of $1.86. Snap-on’s payout ratio is currently 38.29%.

Snap-on announced that its Board of Directors has authorized a stock repurchase plan on Thursday, August 8th that allows the company to buyback $500.00 million in shares. This buyback authorization allows the company to reacquire up to 3.5% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s leadership believes its shares are undervalued.

Insider Transactions at Snap-on

In related news, SVP Thomas J. Ward sold 12,737 shares of the firm’s stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $333.21, for a total value of $4,244,095.77. Following the transaction, the senior vice president now directly owns 55,401 shares of the company’s stock, valued at approximately $18,460,167.21. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, CFO Aldo John Pagliari sold 4,473 shares of the firm’s stock in a transaction 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 transaction, the chief financial officer now directly owns 99,244 shares in the company, valued at approximately $27,663,272.56. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, SVP Thomas J. Ward sold 12,737 shares of the business’s stock in a transaction on 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 transaction, the senior vice president now directly owns 55,401 shares of the company’s stock, valued at approximately $18,460,167.21. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 50,335 shares of company stock worth $14,706,082. 4.10% of the stock is 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.