Centiva Capital LP Buys 965 Shares of Snap-on Incorporated (NYSE:SNA)

Centiva Capital LP boosted its position in Snap-on Incorporated (NYSE:SNA) by 23.9% in the third quarter, HoldingsChannel reports. The firm owned 5,002 shares of the company’s stock after buying an additional 965 shares during the quarter. Centiva Capital LP’s holdings in Snap-on were worth $1,449,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of SNA. GAMMA Investing LLC grew its holdings in Snap-on by 25.1% during the second quarter. GAMMA Investing LLC now owns 519 shares of the company’s stock valued at $136,000 after purchasing an additional 104 shares during the period. Manning & Napier Advisors LLC bought a new position in Snap-on in the second quarter valued at $4,571,000. Cardinal Capital Management increased its position in shares of Snap-on by 2.3% during the 2nd quarter. Cardinal Capital Management now owns 10,527 shares of the company’s stock valued at $2,752,000 after purchasing an additional 240 shares during the last quarter. Opal Wealth Advisors LLC purchased a new position in shares of Snap-on during the second quarter worth approximately $30,000. Finally, SG Americas Securities LLC raised its position in Snap-on by 32.7% in the 2nd quarter. SG Americas Securities LLC now owns 13,140 shares of the company’s stock worth $3,435,000 after purchasing an additional 3,238 shares during the period. 84.88% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, SVP Thomas J. Ward sold 12,737 shares of the stock in a transaction that occurred on 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 completion of the transaction, the senior vice president now directly owns 55,401 shares in the company, valued at approximately $18,460,167.21. This represents a 18.69 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Richard Thomas Miller sold 1,750 shares of the company’s stock in a transaction dated Friday, October 18th. The shares were sold at an average price of $330.00, for a total transaction of $577,500.00. Following the sale, the vice president now owns 3,218 shares in the company, valued at $1,061,940. This represents a 35.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 20,531 shares of company stock worth $6,628,691 in the last three months. 4.10% of the stock is owned by company insiders.

Snap-on Trading Down 0.5 %

NYSE:SNA opened at $365.10 on Wednesday. The company has a market cap of $19.17 billion, a PE ratio of 18.79, a price-to-earnings-growth ratio of 2.43 and a beta of 0.98. 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 12 month low of $252.98 and a 12 month high of $373.89. The company has a 50 day simple moving average of $329.67 and a two-hundred day simple moving average of $292.65.

Snap-on (NYSE:SNA) last announced its earnings results on Thursday, October 17th. The company reported $4.70 EPS 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 analysts’ expectations of $1.16 billion. Snap-on had a net margin of 22.13% and a return on equity of 19.44%. Research analysts forecast that Snap-on Incorporated will post 19.05 earnings per share for the current year.

Snap-on announced that its Board of Directors has authorized a stock repurchase program on Thursday, August 8th that allows the company to repurchase $500.00 million in outstanding shares. This repurchase authorization allows the company to repurchase up to 3.5% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s board believes its stock is undervalued.

Snap-on Increases Dividend

The firm also recently disclosed 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 represents a $8.56 annualized dividend and a dividend yield of 2.34%. This is an increase from Snap-on’s previous quarterly dividend of $1.86. The ex-dividend date is Thursday, November 21st. Snap-on’s payout ratio is presently 44.06%.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on SNA shares. Roth Mkm lifted their price target on Snap-on from $324.00 to $365.00 and gave the stock a “buy” rating in a research note on Tuesday, October 22nd. Robert W. Baird raised their price objective on shares of Snap-on from $290.00 to $347.00 and gave the stock a “neutral” rating in a report on Friday, October 18th. Bank of America boosted their target price on shares of Snap-on from $255.00 to $280.00 and gave the company an “underperform” rating in a report on Friday, October 18th. Barrington Research upped their price target on Snap-on from $325.00 to $350.00 and gave the stock an “outperform” rating in a research note on Thursday, October 17th. Finally, Tigress Financial increased their price objective 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. 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 company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average 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.