B. Metzler seel. Sohn & Co. Holding AG Purchases New Shares in Snap-on Incorporated (NYSE:SNA)

B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in Snap-on Incorporated (NYSE:SNA) in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 1,080 shares of the company’s stock, valued at approximately $313,000.

Several other large investors have also recently made changes to their positions in the business. Opal Wealth Advisors LLC purchased a new stake in shares of Snap-on during the second quarter worth $30,000. Reston Wealth Management LLC bought a new stake in Snap-on during the third quarter worth about $30,000. Innealta Capital LLC purchased a new position in shares of Snap-on in the 2nd quarter worth about $32,000. Massmutual Trust Co. FSB ADV grew its position in Snap-on by 53.0% during the third quarter. Massmutual Trust Co. FSB ADV now owns 127 shares of the company’s stock valued at $37,000 after acquiring an additional 44 shares during the last quarter. Finally, Quarry LP increased its holdings in shares of Snap-on by 244.7% in the second quarter. Quarry LP now owns 162 shares of the company’s stock worth $42,000 after buying an additional 115 shares during the period. 84.88% of the stock is owned by hedge funds and other institutional investors.

Snap-on Price Performance

SNA opened at $365.97 on Monday. The company has a debt-to-equity ratio of 0.22, a quick ratio of 3.14 and a current ratio of 4.18. Snap-on Incorporated has a 52-week low of $252.98 and a 52-week high of $367.12. The stock has a market capitalization of $19.22 billion, a P/E ratio of 18.84, a P/E/G ratio of 2.39 and a beta of 0.96. The company’s 50-day simple moving average is $317.63 and its two-hundred day simple moving average is $288.24.

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

Snap-on declared that its board has authorized a stock repurchase plan on Thursday, August 8th that permits the company to buyback $500.00 million in shares. This buyback authorization permits the company to buy up to 3.5% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s board of directors 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 paid a $2.14 dividend. This is a positive change 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 dividend yield of 2.34%. Snap-on’s dividend payout ratio is 44.06%.

Insider Buying and Selling

In related news, SVP Thomas J. Ward sold 12,737 shares of the company’s stock in a transaction on Monday, October 28th. The shares were 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 owns 55,401 shares in the company, valued at approximately $18,460,167.21. This represents a 18.69 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Iain Boyd sold 6,044 shares of Snap-on stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $298.99, for a total transaction of $1,807,095.56. Following the completion of the sale, the vice president now owns 10,493 shares in the company, valued at approximately $3,137,302.07. This represents a 36.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 20,531 shares of company stock worth $6,628,691. 4.10% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on SNA. Roth Mkm increased their price objective on Snap-on from $324.00 to $365.00 and gave the company a “buy” rating in a research note on Tuesday, October 22nd. Robert W. Baird increased their target price on Snap-on from $290.00 to $347.00 and gave the stock a “neutral” rating in a research report on Friday, October 18th. Barrington Research raised their target price on Snap-on from $325.00 to $350.00 and gave the company an “outperform” rating in a research note on Thursday, October 17th. Tigress Financial upped their price target on Snap-on from $336.00 to $385.00 and gave the stock a “buy” rating in a research note on Friday, October 25th. Finally, Bank of America lifted 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. 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. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $345.40.

About Snap-on

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.