Wellington Management Group LLP Has $4.73 Million Stock Holdings in Snap-on Incorporated (NYSE:SNA)

Wellington Management Group LLP raised its holdings in Snap-on Incorporated (NYSE:SNA) by 77.9% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 16,319 shares of the company’s stock after buying an additional 7,148 shares during the quarter. Wellington Management Group LLP’s holdings in Snap-on were worth $4,728,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Worldquant Millennium Advisors LLC grew its stake in shares of Snap-on by 527.2% in the third quarter. Worldquant Millennium Advisors LLC now owns 13,904 shares of the company’s stock worth $4,028,000 after acquiring an additional 11,687 shares during the last quarter. Wahed Invest LLC grew its position in Snap-on by 17.3% in the 3rd quarter. Wahed Invest LLC now owns 1,256 shares of the company’s stock worth $364,000 after purchasing an additional 185 shares during the last quarter. Two Sigma Advisers LP increased its holdings in shares of Snap-on by 3.8% during the 3rd quarter. Two Sigma Advisers LP now owns 58,000 shares of the company’s stock worth $16,803,000 after purchasing an additional 2,100 shares during the period. Texas Capital Bank Wealth Management Services Inc acquired a new position in shares of Snap-on during the third quarter valued at about $270,000. Finally, State Street Corp lifted its stake in shares of Snap-on by 0.5% in the third quarter. State Street Corp now owns 2,115,973 shares of the company’s stock valued at $613,019,000 after buying an additional 10,645 shares during the period. 84.88% of the stock is owned by institutional investors.

Snap-on Stock Down 0.8 %

Shares of NYSE SNA opened at $352.19 on Tuesday. The business has a fifty day moving average of $342.04 and a two-hundred day moving average of $298.03. 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 $373.89. The stock has a market cap of $18.49 billion, a PE ratio of 18.13, a PEG ratio of 2.35 and a beta of 0.98.

Snap-on (NYSE:SNA) last released its quarterly 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 firm 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%. As a group, equities research analysts expect that Snap-on Incorporated will post 19.05 earnings per share for the current fiscal year.

Snap-on Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Investors of record on Thursday, November 21st were issued a dividend of $2.14 per share. This represents a $8.56 dividend on an annualized basis and a yield of 2.43%. This is a boost from Snap-on’s previous quarterly dividend of $1.86. The ex-dividend date was Thursday, November 21st. Snap-on’s dividend payout ratio (DPR) is currently 44.06%.

Insider Buying and Selling at Snap-on

In related news, VP Iain Boyd sold 6,044 shares of the business’s stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $298.99, for a total value of $1,807,095.56. Following the completion of the transaction, the vice president now owns 10,493 shares in the company, valued at $3,137,302.07. The trade was a 36.55 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Nicholas T. Pinchuk sold 21,783 shares of the company’s stock in a transaction on Monday, December 9th. The stock was sold at an average price of $354.83, for a total value of $7,729,261.89. Following the transaction, the chief executive officer now directly owns 769,738 shares in the company, valued at approximately $273,126,134.54. This represents a 2.75 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 45,814 shares of company stock worth $15,627,963. 4.10% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several research firms have commented on SNA. Tigress Financial upped their price target on Snap-on from $336.00 to $385.00 and gave the company a “buy” rating in a report on Friday, October 25th. Barrington Research upped 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. Roth Mkm lifted their price target on shares of Snap-on from $324.00 to $365.00 and gave the stock a “buy” rating in a research note on Tuesday, October 22nd. Bank of America boosted their price target 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. Finally, 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. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, Snap-on has an average rating of “Hold” and an average target price 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.