M&G Plc Sells 219 Shares of Snap-on Incorporated (NYSE:SNA)

M&G Plc reduced its holdings in shares of Snap-on Incorporated (NYSE:SNA) by 7.4% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,744 shares of the company’s stock after selling 219 shares during the period. M&G Plc’s holdings in Snap-on were worth $796,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in SNA. Foster & Motley Inc. grew its stake in Snap-on by 7.3% in the 3rd quarter. Foster & Motley Inc. now owns 20,786 shares of the company’s stock valued at $6,022,000 after purchasing an additional 1,421 shares during the period. Radnor Capital Management LLC bought a new position in shares of Snap-on in the third quarter valued at approximately $478,000. Crestwood Advisors Group LLC grew its stake in Snap-on by 1.0% during the third quarter. Crestwood Advisors Group LLC now owns 3,759 shares of the company’s stock valued at $1,089,000 after acquiring an additional 38 shares in the last quarter. Asset Management One Co. Ltd. increased its holdings in shares of Snap-on by 0.3% in the third quarter. Asset Management One Co. Ltd. now owns 19,896 shares of the company’s stock worth $5,764,000 after purchasing an additional 67 shares during the period. Finally, National Pension Service increased its position in shares of Snap-on by 4.3% in the third quarter. National Pension Service now owns 113,516 shares of the company’s stock worth $32,887,000 after purchasing an additional 4,710 shares during the last quarter. 84.88% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, SVP Thomas J. Ward sold 12,737 shares of Snap-on stock in a transaction on Monday, October 28th. The shares were sold at an average price of $333.21, for a total transaction of $4,244,095.77. Following the completion of the sale, the senior vice president now directly owns 55,401 shares in the company, valued at approximately $18,460,167.21. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, VP Richard Thomas Miller sold 1,750 shares of Snap-on stock in a transaction on Friday, October 18th. The shares were sold at an average price of $330.00, for a total value of $577,500.00. Following the sale, the vice president now owns 3,218 shares of the company’s stock, valued at approximately $1,061,940. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Thomas J. Ward sold 12,737 shares of the company’s stock in a transaction dated 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 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 disclosure for this sale can be found here. Insiders sold 50,335 shares of company stock worth $14,706,082 in the last three months. Corporate insiders own 4.10% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the company. Bank of America increased their target price on Snap-on from $255.00 to $280.00 and gave the company an “underperform” rating in a research note on Friday, October 18th. Roth Mkm increased their price target on shares of Snap-on from $324.00 to $365.00 and gave the company a “buy” rating in a research report on Tuesday, October 22nd. Robert W. Baird boosted their price objective 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. Tigress Financial increased their target price on shares of Snap-on from $336.00 to $385.00 and gave the company a “buy” rating in a report on Friday, October 25th. Finally, Barrington Research boosted 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 given a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $345.40.

Snap-on Price Performance

NYSE:SNA opened at $359.27 on Friday. The business’s 50-day moving average is $301.16 and its 200 day moving average is $281.97. Snap-on Incorporated has a 12 month low of $252.98 and a 12 month high of $360.41. The company has a market capitalization of $18.86 billion, a P/E ratio of 18.49, a P/E/G ratio of 2.34 and a beta of 0.96. 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 (NYSE:SNA) last announced its quarterly earnings results on Thursday, October 17th. The company reported $4.70 EPS for the quarter, beating the consensus estimate of $4.58 by $0.12. The firm had revenue of $1.15 billion for the quarter, compared to analyst estimates of $1.16 billion. Snap-on had a return on equity of 19.44% and a net margin of 22.13%. On average, equities research analysts forecast that Snap-on Incorporated will post 19.05 earnings per share for the current fiscal year.

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

Snap-on Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Thursday, November 21st will be given a $2.14 dividend. This is a positive change from Snap-on’s previous quarterly dividend of $1.86. This represents a $8.56 annualized dividend and a dividend yield of 2.38%. The ex-dividend date of this dividend is Thursday, November 21st. Snap-on’s dividend payout ratio (DPR) is presently 38.29%.

Snap-on 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.