WCM Investment Management LLC Invests $201,000 in Snap-on Incorporated (NYSE:SNA)

WCM Investment Management LLC purchased a new stake in Snap-on Incorporated (NYSE:SNA) in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 696 shares of the company’s stock, valued at approximately $201,000.

Several other large investors have also made changes to their positions in SNA. Opal Wealth Advisors LLC acquired a new stake in Snap-on in the second quarter valued at approximately $30,000. Reston Wealth Management LLC acquired a new stake in shares of Snap-on in the 3rd quarter valued at $30,000. Innealta Capital LLC bought a new stake in Snap-on in the second quarter worth $32,000. Massmutual Trust Co. FSB ADV increased 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 worth $37,000 after buying an additional 44 shares during the last quarter. Finally, Quarry LP raised its holdings in Snap-on by 244.7% during the second quarter. Quarry LP now owns 162 shares of the company’s stock valued at $42,000 after buying an additional 115 shares in the last quarter. Institutional investors own 84.88% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on SNA shares. 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 research note on Friday, October 18th. Roth Mkm increased 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. Bank of America boosted their price objective on shares of Snap-on from $255.00 to $280.00 and gave the stock an “underperform” rating in a research note on Friday, October 18th. Barrington Research raised their target price on shares of Snap-on from $325.00 to $350.00 and gave the company an “outperform” rating in a research note on Thursday, October 17th. Finally, Tigress Financial lifted their target price on shares of Snap-on from $336.00 to $385.00 and gave the stock a “buy” rating in a report on Friday, October 25th. One research 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 MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $345.40.

Snap-on Stock Down 0.4 %

Shares of SNA stock opened at $360.35 on Wednesday. The stock has a 50 day moving average of $304.34 and a 200-day moving average of $283.31. The firm has a market cap of $18.92 billion, a PE ratio of 18.55, a price-to-earnings-growth ratio of 2.39 and a beta of 0.96. 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 12 month low of $252.98 and a 12 month high of $363.49.

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

Snap-on Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Thursday, November 21st will be issued a $2.14 dividend. 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 annualized dividend and a yield of 2.38%. Snap-on’s dividend payout ratio is 38.29%.

Snap-on declared that its board has initiated a share repurchase plan on Thursday, August 8th that permits the company to repurchase $500.00 million in shares. This repurchase authorization permits the company to reacquire up to 3.5% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s management believes its stock is undervalued.

Insider Transactions at Snap-on

In related news, VP June C. Lemerand sold 1,186 shares of the company’s stock in a transaction on Monday, August 26th. The stock was sold at an average price of $283.97, for a total value of $336,788.42. Following the completion of the transaction, the vice president now directly owns 2,283 shares in the company, valued at approximately $648,303.51. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, VP Richard Thomas Miller sold 1,750 shares of the business’s stock in a transaction on Friday, October 18th. The shares were sold at an average price of $330.00, for a total value of $577,500.00. Following the sale, the vice president now owns 3,218 shares in the company, valued at approximately $1,061,940. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP June C. Lemerand sold 1,186 shares of the stock in a transaction dated 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 owns 2,283 shares of the company’s stock, valued at $648,303.51. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 26,190 shares of company stock valued at $8,212,284. 4.10% of the stock is owned by corporate insiders.

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.