Mawer Investment Management Ltd. Purchases 1,796 Shares of Snap-on Incorporated (NYSE:SNA)

Mawer Investment Management Ltd. boosted its holdings in Snap-on Incorporated (NYSE:SNA) by 0.3% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 634,022 shares of the company’s stock after purchasing an additional 1,796 shares during the quarter. Mawer Investment Management Ltd. owned 1.21% of Snap-on worth $183,683,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of SNA. Blair William & Co. IL increased its holdings in shares of Snap-on by 0.8% during the first quarter. Blair William & Co. IL now owns 7,837 shares of the company’s stock valued at $2,322,000 after acquiring an additional 62 shares in the last quarter. Orion Portfolio Solutions LLC lifted its stake in Snap-on by 12.3% during the first quarter. Orion Portfolio Solutions LLC now owns 5,731 shares of the company’s stock worth $1,698,000 after purchasing an additional 626 shares during the last quarter. Edgestream Partners L.P. purchased a new position in shares of Snap-on in the first quarter worth about $627,000. O Shaughnessy Asset Management LLC grew its stake in shares of Snap-on by 2.6% in the first quarter. O Shaughnessy Asset Management LLC now owns 9,795 shares of the company’s stock worth $2,901,000 after purchasing an additional 252 shares during the last quarter. Finally, UniSuper Management Pty Ltd raised its position in shares of Snap-on by 492.6% in the 1st quarter. UniSuper Management Pty Ltd now owns 3,787 shares of the company’s stock worth $1,122,000 after acquiring an additional 3,148 shares in the last quarter. 84.88% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related 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 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 18.69 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Aldo John Pagliari sold 4,473 shares of the firm’s 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 sale, the chief financial officer now owns 99,244 shares of the company’s stock, valued at approximately $27,663,272.56. This represents a 4.31 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 26,190 shares of company stock valued at $8,212,284 over the last three months. 4.10% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several analysts recently commented on SNA shares. Robert W. Baird increased their price objective on shares of Snap-on from $290.00 to $347.00 and gave the company a “neutral” rating in a research report on Friday, October 18th. Roth Mkm raised their price target on Snap-on from $324.00 to $365.00 and gave the company a “buy” rating in a report on Tuesday, October 22nd. Tigress Financial increased their price target on Snap-on from $336.00 to $385.00 and gave the company a “buy” rating in a research note on Friday, October 25th. Bank of America upped their price objective on Snap-on from $255.00 to $280.00 and gave the company an “underperform” rating in a research report on Friday, October 18th. Finally, Barrington Research increased 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. One analyst has rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $345.40.

Snap-on Stock Up 0.1 %

NYSE SNA traded up $0.26 on Monday, hitting $357.32. 704 shares of the stock were exchanged, compared to its average volume of 307,709. The company has a quick ratio of 3.14, a current ratio of 4.18 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 cap of $18.76 billion, a PE ratio of 18.38, a PEG ratio of 2.36 and a beta of 0.96. The company has a 50-day moving average price of $309.42 and a 200-day moving average price of $285.19.

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. Snap-on had a return on equity of 19.44% and a net margin of 22.13%. The firm had revenue of $1.15 billion for the quarter, compared to analysts’ expectations of $1.16 billion. Sell-side analysts anticipate that Snap-on Incorporated will post 19.05 EPS for the current fiscal year.

Snap-on declared that its Board of Directors has authorized a share 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 reacquire up to 3.5% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s leadership believes its shares are undervalued.

Snap-on Increases Dividend

The company also recently disclosed 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 is a boost from Snap-on’s previous quarterly dividend of $1.86. The ex-dividend date is Thursday, November 21st. This represents a $8.56 dividend on an annualized basis and a yield of 2.40%. Snap-on’s dividend payout ratio (DPR) is presently 38.29%.

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.