United Capital Management of KS Inc. Buys Shares of 13,906 Snap-on Incorporated (NYSE:SNA)

United Capital Management of KS Inc. purchased a new stake in shares of Snap-on Incorporated (NYSE:SNA) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 13,906 shares of the company’s stock, valued at approximately $4,029,000.

Several other institutional investors and hedge funds have also modified their holdings of the business. Manning & Napier Advisors LLC bought a new stake in shares of Snap-on during the 2nd quarter worth about $4,571,000. Asset Management One Co. Ltd. boosted its position in Snap-on by 0.3% during the third quarter. Asset Management One Co. Ltd. now owns 19,896 shares of the company’s stock worth $5,764,000 after purchasing an additional 67 shares during the period. SG Americas Securities LLC grew its holdings in Snap-on by 32.7% during the second quarter. SG Americas Securities LLC now owns 13,140 shares of the company’s stock valued at $3,435,000 after purchasing an additional 3,238 shares during the last quarter. Strategic Financial Concepts LLC bought a new position in shares of Snap-on in the second quarter valued at approximately $3,653,000. Finally, Empirical Finance LLC lifted its stake in shares of Snap-on by 105.5% in the second quarter. Empirical Finance LLC now owns 3,994 shares of the company’s stock worth $1,044,000 after buying an additional 2,050 shares during the last quarter. Institutional investors and hedge funds own 84.88% of the company’s stock.

Snap-on Stock Up 1.7 %

SNA opened at $359.27 on Monday. The company has a market capitalization of $18.87 billion, a P/E ratio of 18.49, a P/E/G ratio of 2.38 and a beta of 0.96. 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 firm’s fifty day moving average price is $301.16 and its two-hundred day moving average price is $282.03. Snap-on Incorporated has a fifty-two week low of $252.98 and a fifty-two week high of $360.41.

Snap-on (NYSE:SNA) last issued its earnings results on Thursday, October 17th. The company reported $4.70 earnings per share for the quarter, beating the consensus estimate of $4.58 by $0.12. The business had revenue of $1.15 billion for the quarter, compared to analyst estimates of $1.16 billion. Snap-on had a net margin of 22.13% and a return on equity of 19.44%. On average, analysts anticipate that Snap-on Incorporated will post 19.05 EPS for the current year.

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

Snap-on Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Thursday, November 21st will be given a dividend of $2.14 per share. 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. This is an increase from Snap-on’s previous quarterly dividend of $1.86. Snap-on’s dividend payout ratio (DPR) is 38.29%.

Insider Activity at Snap-on

In other Snap-on news, CFO Aldo John Pagliari sold 4,473 shares of the stock in a transaction on Thursday, August 22nd. The stock was sold at an average price of $278.74, for a total transaction of $1,246,804.02. Following the completion of the transaction, the chief financial officer now directly owns 99,244 shares in the company, valued at $27,663,272.56. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, VP June C. Lemerand sold 1,186 shares of the stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $283.97, for a total transaction of $336,788.42. Following the sale, the vice president now directly owns 2,283 shares in the company, valued at $648,303.51. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Aldo John Pagliari sold 4,473 shares of Snap-on stock in a transaction 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 approximately $27,663,272.56. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 26,190 shares of company stock valued at $8,212,284 in the last 90 days. 4.10% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several equities analysts recently weighed in on SNA shares. Roth Mkm boosted their price objective on Snap-on from $324.00 to $365.00 and gave the stock a “buy” rating in a research report on Tuesday, October 22nd. Robert W. Baird upped their price target on Snap-on from $290.00 to $347.00 and gave the stock a “neutral” rating in a report on Friday, October 18th. Barrington Research raised their price objective on shares of Snap-on from $325.00 to $350.00 and gave the stock an “outperform” rating in a research note on Thursday, October 17th. Tigress Financial upped their target price on shares of Snap-on from $336.00 to $385.00 and gave the company a “buy” rating in a research note on Friday, October 25th. Finally, Bank of America raised their price target on shares of Snap-on from $255.00 to $280.00 and gave the stock an “underperform” rating in a research report 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.com, the company has an average rating of “Hold” and a consensus price target of $345.40.

Snap-on 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.