Franklin Resources Inc. increased its stake in Snap-on Incorporated (NYSE:SNA - Free Report) by 15.9% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 87,026 shares of the company's stock after purchasing an additional 11,970 shares during the quarter. Franklin Resources Inc. owned 0.17% of Snap-on worth $25,812,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. State Street Corp increased its holdings in Snap-on by 0.5% in the third quarter. State Street Corp now owns 2,115,973 shares of the company's stock valued at $613,019,000 after buying an additional 10,645 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in Snap-on by 3.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,728,792 shares of the company's stock valued at $500,848,000 after purchasing an additional 56,266 shares in the last quarter. Geode Capital Management LLC raised its holdings in Snap-on by 4.5% during the third quarter. Geode Capital Management LLC now owns 1,613,459 shares of the company's stock worth $466,199,000 after purchasing an additional 69,590 shares during the last quarter. Earnest Partners LLC boosted its position in Snap-on by 1.4% during the second quarter. Earnest Partners LLC now owns 942,743 shares of the company's stock worth $246,424,000 after purchasing an additional 13,033 shares in the last quarter. Finally, Pacer Advisors Inc. grew its holdings in Snap-on by 9.4% in the third quarter. Pacer Advisors Inc. now owns 907,655 shares of the company's stock valued at $262,957,000 after purchasing an additional 78,184 shares during the last quarter. Institutional investors and hedge funds own 84.88% of the company's stock.
Several research firms have recently issued reports on SNA. Bank of America lifted their price target on Snap-on from $255.00 to $280.00 and gave the stock an "underperform" rating in a research note on Friday, October 18th. Roth Mkm upped their price target on shares of Snap-on from $324.00 to $365.00 and gave the company a "buy" rating in a report on Tuesday, October 22nd. Robert W. Baird increased their price target on shares of Snap-on from $290.00 to $347.00 and gave the company a "neutral" rating in a research report on Friday, October 18th. Barrington Research lifted their price objective on Snap-on from $325.00 to $350.00 and gave the stock an "outperform" rating in a research report on Thursday, October 17th. Finally, Tigress Financial increased their target price on Snap-on from $336.00 to $385.00 and gave the company a "buy" rating in a report on Friday, October 25th. 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 has an average rating of "Hold" and a consensus target price of $345.40.
View Our Latest Research Report on SNA
Shares of NYSE SNA opened at $337.67 on Friday. The company has a 50-day simple moving average of $344.32 and a 200-day simple moving average of $298.84. 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 company has a market cap of $17.73 billion, a PE ratio of 17.38, a price-to-earnings-growth ratio of 2.35 and a beta of 0.98. Snap-on Incorporated has a 12 month low of $252.98 and a 12 month high of $373.89.
Snap-on (NYSE:SNA - Get Free Report) last released its 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. Snap-on had a net margin of 22.13% and a return on equity of 19.44%. The firm had revenue of $1.15 billion during the quarter, compared to analysts' expectations of $1.16 billion. On average, equities analysts anticipate that Snap-on Incorporated will post 19.05 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 10th. Investors 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 2.54%. The ex-dividend date was Thursday, November 21st. Snap-on's dividend payout ratio is presently 44.06%.
In other news, 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 completion of the sale, the chief executive officer now directly owns 769,738 shares in the company, valued at $273,126,134.54. This represents a 2.75 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, VP June C. Lemerand sold 3,500 shares of Snap-on stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $362.86, for a total value of $1,270,010.00. Following the completion of the transaction, the vice president now owns 2,289 shares in the company, valued at $830,586.54. The trade was a 60.46 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 52,723 shares of company stock worth $18,029,670. 4.10% of the stock is owned by company insiders.
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.
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