Wellington Management Group LLP Has $4.73 Million Stake in Snap-on Incorporated (NYSE:SNA)

Wellington Management Group LLP boosted its holdings in Snap-on Incorporated (NYSE:SNA) by 77.9% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 16,319 shares of the company’s stock after acquiring an additional 7,148 shares during the quarter. Wellington Management Group LLP’s holdings in Snap-on were worth $4,728,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Brookstone Capital Management bought a new position in shares of Snap-on in the 2nd quarter worth $246,000. Hennion & Walsh Asset Management Inc. grew its position in shares of Snap-on by 84.6% during the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 2,630 shares of the company’s stock worth $687,000 after buying an additional 1,205 shares during the period. Apollon Wealth Management LLC increased its stake in shares of Snap-on by 8.0% in the 2nd quarter. Apollon Wealth Management LLC now owns 7,375 shares of the company’s stock valued at $1,928,000 after acquiring an additional 544 shares during the last quarter. Chevy Chase Trust Holdings LLC raised its position in shares of Snap-on by 2.7% in the 2nd quarter. Chevy Chase Trust Holdings LLC now owns 45,924 shares of the company’s stock valued at $12,004,000 after acquiring an additional 1,207 shares during the period. Finally, Atria Wealth Solutions Inc. boosted its stake in Snap-on by 29.1% during the 2nd quarter. Atria Wealth Solutions Inc. now owns 3,555 shares of the company’s stock worth $929,000 after acquiring an additional 802 shares during the last quarter. 84.88% of the stock is owned by institutional investors.

Snap-on Stock Performance

Shares of Snap-on stock opened at $352.19 on Tuesday. The company has a debt-to-equity ratio of 0.22, a current ratio of 4.18 and a quick ratio of 3.14. The firm has a market cap of $18.49 billion, a price-to-earnings ratio of 18.13, a price-to-earnings-growth ratio of 2.35 and a beta of 0.98. Snap-on Incorporated has a one year low of $252.98 and a one year high of $373.89. The stock’s 50-day moving average is $342.04 and its 200-day moving average is $298.03.

Snap-on (NYSE:SNA) last released its quarterly earnings results on Thursday, October 17th. The company reported $4.70 earnings per share for the quarter, topping analysts’ consensus estimates of $4.58 by $0.12. Snap-on had a return on equity of 19.44% and a net margin of 22.13%. The firm had revenue of $1.15 billion during the quarter, compared to the consensus estimate of $1.16 billion. Equities analysts predict that Snap-on Incorporated will post 19.05 earnings per share for the current fiscal year.

Snap-on Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Thursday, November 21st were paid 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 yield of 2.43%. The ex-dividend date of this dividend was Thursday, November 21st. Snap-on’s payout ratio is presently 44.06%.

Wall Street Analysts Forecast Growth

SNA has been the topic of several analyst reports. Roth Mkm increased their target price on shares of Snap-on from $324.00 to $365.00 and gave the stock a “buy” rating in a report on Tuesday, October 22nd. Barrington Research raised their price objective on Snap-on from $325.00 to $350.00 and gave the stock an “outperform” rating in a research note on Thursday, October 17th. Tigress Financial boosted their target price on Snap-on from $336.00 to $385.00 and gave the company a “buy” rating in a research note on Friday, October 25th. Bank of America raised their price target 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 boosted their price objective on Snap-on from $290.00 to $347.00 and gave the company a “neutral” rating in a research report on Friday, October 18th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Snap-on presently has a consensus rating of “Hold” and a consensus price target of $345.40.

Insider Transactions at Snap-on

In related news, VP Richard Thomas Miller sold 1,750 shares of the firm’s 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 completion of the transaction, the vice president now directly owns 3,218 shares of the company’s stock, valued at approximately $1,061,940. This trade represents a 35.23 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Nicholas T. Pinchuk sold 21,783 shares of the company’s stock in a transaction on Monday, December 9th. The stock was sold at an average price of $354.83, for a total transaction of $7,729,261.89. Following the sale, the chief executive officer now directly owns 769,738 shares in the company, valued at $273,126,134.54. This trade represents a 2.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 45,814 shares of company stock worth $15,627,963 in the last three months. Insiders own 4.10% of the company’s stock.

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.