Snap-on Incorporated (NYSE:SNA) Holdings Raised by Vontobel Holding Ltd.

Vontobel Holding Ltd. increased its position in shares of Snap-on Incorporated (NYSE:SNA) by 116.3% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,968 shares of the company’s stock after purchasing an additional 1,058 shares during the quarter. Vontobel Holding Ltd.’s holdings in Snap-on were worth $570,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Opal Wealth Advisors LLC bought a new position in shares of Snap-on in the 2nd quarter worth about $30,000. Innealta Capital LLC acquired a new stake in Snap-on during the second quarter worth about $32,000. Massmutual Trust Co. FSB ADV lifted its holdings in Snap-on by 53.0% in the third quarter. Massmutual Trust Co. FSB ADV now owns 127 shares of the company’s stock worth $37,000 after acquiring an additional 44 shares during the last quarter. Quarry LP boosted its stake in Snap-on by 244.7% in the second quarter. Quarry LP now owns 162 shares of the company’s stock valued at $42,000 after acquiring an additional 115 shares during the period. Finally, Versant Capital Management Inc grew its holdings in shares of Snap-on by 529.0% during the second quarter. Versant Capital Management Inc now owns 195 shares of the company’s stock valued at $51,000 after purchasing an additional 164 shares during the last quarter. Institutional investors and hedge funds own 84.88% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently issued reports on the company. Bank of America boosted their price objective on Snap-on from $255.00 to $280.00 and gave the company an “underperform” rating in a research report on Friday. 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 report on Thursday, October 17th. Roth Mkm reiterated a “buy” rating and issued a $324.00 price objective on shares of Snap-on in a research report on Tuesday, July 16th. Robert W. Baird upped their target price on shares of Snap-on from $290.00 to $347.00 and gave the stock a “neutral” rating in a research report on Friday. Finally, Tigress Financial reaffirmed a “buy” rating and set a $336.00 price target on shares of Snap-on in a report on Thursday, July 25th. One analyst has rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $327.40.

Insider Activity

In other Snap-on news, VP June C. Lemerand sold 1,186 shares of Snap-on stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $283.97, for a total value of $336,788.42. Following the transaction, the vice president now owns 2,283 shares in the company, valued at approximately $648,303.51. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other Snap-on news, VP June C. Lemerand sold 1,186 shares of the firm’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $283.97, for a total value of $336,788.42. Following the completion of the transaction, the vice president now directly owns 2,283 shares in the company, valued at $648,303.51. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, VP Richard Thomas Miller sold 1,750 shares of the company’s stock in a transaction that occurred on Friday, October 18th. The shares were sold at an average price of $330.00, for a total transaction of $577,500.00. Following the completion of 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 disclosure for this sale can be found here. Insiders sold a total of 37,598 shares of company stock worth $10,461,986 over the last 90 days. 4.10% of the stock is currently owned by company insiders.

Snap-on Trading Down 0.0 %

Shares of NYSE:SNA opened at $325.99 on Tuesday. Snap-on Incorporated has a twelve month low of $249.84 and a twelve month high of $330.51. The company has a current ratio of 4.18, a quick ratio of 3.05 and a debt-to-equity ratio of 0.22. The firm has a market cap of $17.17 billion, a P/E ratio of 16.78, a P/E/G ratio of 2.26 and a beta of 0.98. The company has a 50 day moving average of $285.34 and a 200-day moving average of $276.79.

Snap-on Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Monday, August 19th were given a dividend of $1.86 per share. This represents a $7.44 annualized dividend and a dividend yield of 2.28%. The ex-dividend date of this dividend was Monday, August 19th. Snap-on’s dividend payout ratio (DPR) is presently 38.29%.

Snap-on declared that its board has authorized a stock buyback plan on Thursday, August 8th that allows the company to buyback $500.00 million in outstanding shares. This buyback authorization allows the company to reacquire up to 3.5% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s board of directors believes its stock is undervalued.

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.