Acropolis Investment Management LLC Has $1.94 Million Stock Position in Snap-on Incorporated (NYSE:SNA)

Acropolis Investment Management LLC lowered its position in shares of Snap-on Incorporated (NYSE:SNA) by 1.3% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,691 shares of the company’s stock after selling 89 shares during the quarter. Acropolis Investment Management LLC’s holdings in Snap-on were worth $1,938,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the company. Caisse DE Depot ET Placement DU Quebec grew its position in Snap-on by 45.4% during the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 257,450 shares of the company’s stock worth $74,586,000 after purchasing an additional 80,421 shares in the last quarter. Verition Fund Management LLC boosted its position in shares of Snap-on by 1,035.0% in the third quarter. Verition Fund Management LLC now owns 8,694 shares of the company’s stock worth $2,519,000 after buying an additional 7,928 shares during the period. Captrust Financial Advisors grew its holdings in shares of Snap-on by 3.5% during the third quarter. Captrust Financial Advisors now owns 8,738 shares of the company’s stock valued at $2,532,000 after buying an additional 297 shares in the last quarter. Centric Wealth Management raised its position in Snap-on by 2.7% during the third quarter. Centric Wealth Management now owns 8,404 shares of the company’s stock valued at $2,435,000 after buying an additional 221 shares during the period. Finally, Isthmus Partners LLC purchased a new stake in Snap-on in the 3rd quarter worth about $336,000. Hedge funds and other institutional investors own 84.88% of the company’s stock.

Snap-on Stock Performance

SNA stock opened at $369.81 on Friday. The company has a market capitalization of $19.42 billion, a price-to-earnings ratio of 19.03, a P/E/G ratio of 2.44 and a beta of 0.96. The firm has a 50 day moving average of $326.41 and a two-hundred day moving average of $291.25. 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 $373.89.

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, topping 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 analysts’ expectations of $1.16 billion. As a group, equities 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 approved a share buyback plan on Thursday, August 8th that authorizes the company to buyback $500.00 million in shares. This buyback authorization authorizes the company to reacquire up to 3.5% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s board believes its shares are 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 paid a $2.14 dividend. This represents a $8.56 dividend on an annualized basis and a dividend yield of 2.31%. This is an increase 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%.

Insider Buying and Selling

In related news, SVP Thomas J. Ward sold 12,737 shares of the business’s stock in a transaction dated 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 transaction, the senior vice president now owns 55,401 shares of the company’s stock, valued at approximately $18,460,167.21. The trade was a 18.69 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Richard Thomas Miller sold 1,750 shares of the stock in a transaction that occurred 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 of the company’s stock, valued at approximately $1,061,940. The trade was a 35.23 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 20,531 shares of company stock worth $6,628,691. 4.10% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. Tigress Financial lifted 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 price objective on shares of Snap-on from $325.00 to $350.00 and gave the company an “outperform” rating in a research report on Thursday, October 17th. Robert W. Baird lifted their target price 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. Roth Mkm upped 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. Finally, Bank of America lifted 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. One investment analyst has rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $345.40.

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.