Tokio Marine Asset Management Co. Ltd. Buys 98 Shares of Snap-on Incorporated (NYSE:SNA)

Tokio Marine Asset Management Co. Ltd. increased its stake in Snap-on Incorporated (NYSE:SNA) by 7.9% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,333 shares of the company’s stock after purchasing an additional 98 shares during the period. Tokio Marine Asset Management Co. Ltd.’s holdings in Snap-on were worth $386,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Reston Wealth Management LLC bought a new stake in shares of Snap-on during the third quarter worth $30,000. Opal Wealth Advisors LLC bought a new stake in Snap-on during the 2nd quarter worth about $30,000. Innealta Capital LLC acquired a new position in Snap-on during the 2nd quarter valued at about $32,000. Massmutual Trust Co. FSB ADV boosted its stake in shares of Snap-on by 53.0% in the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 127 shares of the company’s stock valued at $37,000 after purchasing an additional 44 shares during the last quarter. Finally, Quarry LP grew its position in shares of Snap-on by 244.7% during the 2nd quarter. Quarry LP now owns 162 shares of the company’s stock worth $42,000 after buying an additional 115 shares during the period. Institutional investors and hedge funds own 84.88% of the company’s stock.

Insider Activity at Snap-on

In related news, CFO Aldo John Pagliari sold 4,473 shares of the stock in a transaction dated 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 approximately $27,663,272.56. This trade represents a 4.31 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Thomas J. Ward sold 12,737 shares of the business’s stock in a transaction that occurred on Monday, October 28th. The shares were 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 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. In the last ninety days, insiders have sold 26,190 shares of company stock valued at $8,212,284. 4.10% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

SNA has been the topic of a number of recent research reports. Robert W. Baird raised their price objective on shares of Snap-on from $290.00 to $347.00 and gave the company a “neutral” rating in a research note on Friday, October 18th. Bank of America lifted their price objective on 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 increased their target price on Snap-on from $336.00 to $385.00 and gave the company a “buy” rating in a research note on Friday, October 25th. Barrington Research boosted their target price 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, Roth Mkm increased their price target on shares of Snap-on from $324.00 to $365.00 and gave the company a “buy” rating in a research report on Tuesday, October 22nd. One investment 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 data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $345.40.

Snap-on Stock Down 0.2 %

NYSE:SNA opened at $357.06 on Friday. Snap-on Incorporated has a 1 year low of $252.98 and a 1 year high of $365.35. The stock has a 50-day moving average price of $309.42 and a two-hundred day moving average price of $285.07. The stock has a market cap of $18.75 billion, a price-to-earnings ratio of 18.38, a PEG ratio of 2.39 and a beta of 0.96. 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 (NYSE:SNA) last issued its quarterly earnings data on Thursday, October 17th. The company reported $4.70 earnings per share (EPS) for the quarter, beating the consensus estimate 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 expect that Snap-on Incorporated will post 19.05 earnings per share for the current year.

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

Snap-on Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Thursday, November 21st will be issued a dividend of $2.14 per share. This represents a $8.56 dividend on an annualized basis and a dividend yield of 2.40%. This is a positive change from Snap-on’s previous quarterly dividend of $1.86. The ex-dividend date is Thursday, November 21st. Snap-on’s dividend payout ratio (DPR) is presently 44.06%.

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.