Mawer Investment Management Ltd. Grows Holdings in Snap-on Incorporated (NYSE:SNA)

Mawer Investment Management Ltd. boosted its position in shares of Snap-on Incorporated (NYSE:SNA) by 0.3% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 634,022 shares of the company’s stock after purchasing an additional 1,796 shares during the period. Mawer Investment Management Ltd.’s holdings in Snap-on were worth $183,683,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in SNA. Quest Partners LLC lifted its holdings in shares of Snap-on by 698.1% in the third quarter. Quest Partners LLC now owns 4,150 shares of the company’s stock worth $1,202,000 after buying an additional 3,630 shares in the last quarter. TrinityPoint Wealth LLC lifted its holdings in shares of Snap-on by 3.6% in the 3rd quarter. TrinityPoint Wealth LLC now owns 4,131 shares of the company’s stock worth $1,197,000 after buying an additional 145 shares during the period. Claro Advisors LLC increased its position in Snap-on by 2.6% during the 3rd quarter. Claro Advisors LLC now owns 3,354 shares of the company’s stock valued at $972,000 after purchasing an additional 85 shares during the period. Seizert Capital Partners LLC raised its stake in Snap-on by 13.0% in the third quarter. Seizert Capital Partners LLC now owns 29,333 shares of the company’s stock worth $8,498,000 after buying an additional 3,384 shares in the last quarter. Finally, Natixis Advisors LLC lifted its position in shares of Snap-on by 4.4% during the third quarter. Natixis Advisors LLC now owns 66,438 shares of the company’s stock valued at $19,248,000 after buying an additional 2,794 shares during the last quarter. 84.88% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have commented on the company. Barrington Research lifted their price target on Snap-on from $325.00 to $350.00 and gave the stock an “outperform” rating in a research report on Thursday, October 17th. Bank of America upped their target price on shares of Snap-on from $255.00 to $280.00 and gave the stock an “underperform” rating in a research note on Friday, October 18th. Tigress Financial boosted their price target on shares of Snap-on from $336.00 to $385.00 and gave the company a “buy” rating in a research report on Friday, October 25th. Roth Mkm upped their price objective on Snap-on from $324.00 to $365.00 and gave the stock a “buy” rating in a report on Tuesday, October 22nd. Finally, Robert W. Baird increased their price target on shares of Snap-on from $290.00 to $347.00 and gave the stock a “neutral” rating in a research note on Friday, October 18th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, Snap-on currently has a consensus rating of “Hold” and a consensus price target of $345.40.

Snap-on Price Performance

NYSE:SNA traded up $0.26 during mid-day trading on Monday, hitting $357.32. The company’s stock had a trading volume of 704 shares, compared to its average volume of 307,709. The stock has a fifty day moving average of $309.42 and a 200-day moving average of $285.19. The company has a current ratio of 4.18, a quick ratio of 3.14 and a debt-to-equity ratio of 0.22. Snap-on Incorporated has a fifty-two week low of $252.98 and a fifty-two week high of $365.35. The company has a market capitalization of $18.76 billion, a price-to-earnings ratio of 18.38, a P/E/G ratio of 2.36 and a beta of 0.96.

Snap-on (NYSE:SNA) last posted its earnings results on Thursday, October 17th. The company reported $4.70 earnings per share (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%. As a group, equities analysts forecast that Snap-on Incorporated will post 19.05 EPS for the current fiscal year.

Snap-on Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Thursday, November 21st will be paid a dividend of $2.14 per share. This is an increase from Snap-on’s previous quarterly dividend of $1.86. This represents a $8.56 dividend on an annualized basis and a yield of 2.40%. The ex-dividend date is Thursday, November 21st. Snap-on’s dividend payout ratio is 38.29%.

Snap-on announced that its board has authorized a share buyback program on Thursday, August 8th that allows the company to repurchase $500.00 million in shares. This repurchase authorization allows the company to buy up to 3.5% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s board of directors believes its shares are undervalued.

Insider Activity

In other Snap-on news, CFO Aldo John Pagliari sold 4,473 shares of the business’s stock in a transaction that occurred on Thursday, August 22nd. The shares were sold at an average price of $278.74, for a total value of $1,246,804.02. Following the completion of the transaction, the chief financial officer now owns 99,244 shares of the company’s stock, valued at $27,663,272.56. The trade was a 4.31 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Thomas J. Ward sold 12,737 shares of the business’s stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $333.21, for a total transaction of $4,244,095.77. Following the sale, the senior vice president now directly owns 55,401 shares in the company, valued at $18,460,167.21. The trade was a 18.69 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 26,190 shares of company stock worth $8,212,284 over the last three months. 4.10% of the stock is currently owned by insiders.

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.