WCM Investment Management LLC Takes Position in Snap-on Incorporated (NYSE:SNA)

WCM Investment Management LLC acquired a new position in Snap-on Incorporated (NYSE:SNA) in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 696 shares of the company’s stock, valued at approximately $201,000.

Other large investors have also recently added to or reduced their stakes in the company. Opal Wealth Advisors LLC bought a new position in shares of Snap-on in the second quarter worth $30,000. Reston Wealth Management LLC acquired a new stake in Snap-on in the third quarter worth about $30,000. Innealta Capital LLC bought a new position in Snap-on in the 2nd quarter valued at about $32,000. Massmutual Trust Co. FSB ADV increased its stake in Snap-on by 53.0% during the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 127 shares of the company’s stock valued at $37,000 after buying an additional 44 shares during the period. Finally, Quarry LP lifted its stake in shares of Snap-on by 244.7% in the 2nd quarter. Quarry LP now owns 162 shares of the company’s stock worth $42,000 after acquiring an additional 115 shares during the period. 84.88% of the stock is currently owned by institutional investors and hedge funds.

Snap-on Stock Performance

SNA opened at $360.35 on Wednesday. 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 firm has a market cap of $18.92 billion, a PE ratio of 18.55, a P/E/G ratio of 2.39 and a beta of 0.96. The business has a fifty day simple moving average of $304.34 and a 200-day simple moving average of $283.31. Snap-on Incorporated has a fifty-two week low of $252.98 and a fifty-two week high of $363.49.

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, beating analysts’ consensus estimates of $4.58 by $0.12. The business 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%. As a group, equities analysts predict that Snap-on Incorporated will post 19.05 EPS for the current fiscal year.

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

Snap-on Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Thursday, November 21st will be given a $2.14 dividend. This is an increase 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 38.29%.

Insider Activity

In other Snap-on news, SVP Thomas J. Ward sold 12,737 shares of Snap-on stock in a transaction that occurred 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 transaction, 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 position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, SVP Thomas J. Ward sold 12,737 shares of the 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 directly owns 55,401 shares of the company’s stock, valued at approximately $18,460,167.21. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Richard Thomas Miller sold 1,750 shares of Snap-on stock in a transaction dated Friday, October 18th. The shares were sold at an average price of $330.00, for a total value of $577,500.00. Following the transaction, the vice president now directly owns 3,218 shares in the company, 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 have sold 26,190 shares of company stock worth $8,212,284 over the last 90 days. 4.10% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of research analysts recently commented on the stock. Bank of America raised their price objective on shares of Snap-on from $255.00 to $280.00 and gave the company an “underperform” rating in a research note on Friday, October 18th. Robert W. Baird boosted their price objective on Snap-on from $290.00 to $347.00 and gave the stock a “neutral” rating in a research note on Friday, October 18th. Barrington Research raised their target price on 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 boosted their price target on shares of Snap-on from $324.00 to $365.00 and gave the stock a “buy” rating in a research report on Tuesday, October 22nd. Finally, Tigress Financial upped their price target 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. One investment 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, the stock has an average rating of “Hold” and a consensus price target of $345.40.

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.