Snap-on Incorporated (NYSE:SNA) Shares Bought by Commerce Bank

Commerce Bank grew its holdings in Snap-on Incorporated (NYSE:SNA) by 1.3% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,234 shares of the company’s stock after purchasing an additional 43 shares during the quarter. Commerce Bank’s holdings in Snap-on were worth $937,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of SNA. EntryPoint Capital LLC purchased a new position in Snap-on during the first quarter worth $61,000. 1832 Asset Management L.P. raised its stake in Snap-on by 6.1% in the 1st quarter. 1832 Asset Management L.P. now owns 7,151 shares of the company’s stock valued at $2,118,000 after purchasing an additional 411 shares during the last quarter. BOKF NA lifted its holdings in Snap-on by 3.7% in the 1st quarter. BOKF NA now owns 8,088 shares of the company’s stock valued at $2,383,000 after purchasing an additional 285 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its stake in shares of Snap-on by 0.6% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 72,523 shares of the company’s stock worth $21,483,000 after purchasing an additional 419 shares during the last quarter. Finally, Mount Yale Investment Advisors LLC purchased a new stake in shares of Snap-on during the first quarter worth about $557,000. 84.88% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, 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 value of $4,244,095.77. Following the completion of the sale, the senior vice president now owns 55,401 shares of the company’s stock, valued at $18,460,167.21. This represents a 18.69 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Iain Boyd sold 6,044 shares of the firm’s stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $298.99, for a total value of $1,807,095.56. Following the sale, the vice president now owns 10,493 shares in the company, valued at approximately $3,137,302.07. The trade was a 36.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 20,531 shares of company stock worth $6,628,691 over the last ninety days. 4.10% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

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

Snap-on Trading Up 1.3 %

SNA stock opened at $365.97 on Monday. The company has a quick ratio of 3.14, a current ratio of 4.18 and a debt-to-equity ratio of 0.22. The company has a market cap of $19.22 billion, a price-to-earnings ratio of 18.84, a PEG ratio of 2.39 and a beta of 0.96. The business has a fifty day simple moving average of $317.63 and a 200-day simple moving average of $288.24. Snap-on Incorporated has a 52 week low of $252.98 and a 52 week high of $367.12.

Snap-on (NYSE:SNA) last announced its quarterly earnings results on Thursday, October 17th. The company reported $4.70 EPS for the quarter, topping the consensus estimate of $4.58 by $0.12. The company had revenue of $1.15 billion during 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 expect that Snap-on Incorporated will post 19.05 EPS for the current year.

Snap-on announced that its board has authorized a share buyback plan on Thursday, August 8th that permits the company to buyback $500.00 million in shares. This buyback authorization permits the company to repurchase up to 3.5% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s management believes its shares are undervalued.

Snap-on Increases Dividend

The firm 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 dividend of $2.14 per share. This represents a $8.56 dividend on an annualized basis and a yield of 2.34%. This is a boost from Snap-on’s previous quarterly dividend of $1.86. The ex-dividend date of this dividend is Thursday, November 21st. Snap-on’s payout ratio is 44.06%.

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.