Daiwa Securities Group Inc. Has $1.87 Million Holdings in Snap-on Incorporated (NYSE:SNA)

Daiwa Securities Group Inc. boosted its holdings in Snap-on Incorporated (NYSE:SNA) by 10.4% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 6,453 shares of the company’s stock after acquiring an additional 610 shares during the quarter. Daiwa Securities Group Inc.’s holdings in Snap-on were worth $1,869,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of SNA. Manning & Napier Advisors LLC acquired a new stake in shares of Snap-on during the second quarter valued at about $4,571,000. Asset Management One Co. Ltd. boosted its stake in shares of Snap-on by 0.3% during the third quarter. Asset Management One Co. Ltd. now owns 19,896 shares of the company’s stock valued at $5,764,000 after purchasing an additional 67 shares in the last quarter. SG Americas Securities LLC boosted its stake in shares of Snap-on by 32.7% during the second quarter. SG Americas Securities LLC now owns 13,140 shares of the company’s stock valued at $3,435,000 after purchasing an additional 3,238 shares in the last quarter. Strategic Financial Concepts LLC acquired a new stake in shares of Snap-on during the second quarter valued at about $3,653,000. Finally, Victory Capital Management Inc. boosted its stake in shares of Snap-on by 21.5% during the third quarter. Victory Capital Management Inc. now owns 158,777 shares of the company’s stock valued at $45,999,000 after purchasing an additional 28,049 shares in the last quarter. 84.88% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. Bank of America lifted their price target on Snap-on from $255.00 to $280.00 and gave the company an “underperform” rating in a research note on Friday, October 18th. Barrington Research raised their price objective on Snap-on from $325.00 to $350.00 and gave the stock an “outperform” rating in a research report on Thursday, October 17th. Robert W. Baird raised their price objective on Snap-on from $290.00 to $347.00 and gave the stock a “neutral” rating in a research report on Friday, October 18th. Roth Mkm raised their price objective on Snap-on from $324.00 to $365.00 and gave the stock a “buy” rating in a research report on Tuesday, October 22nd. Finally, Tigress Financial raised their price objective on Snap-on from $336.00 to $385.00 and gave the stock a “buy” rating in a research report on Friday, October 25th. One analyst has rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, Snap-on currently has an average rating of “Hold” and a consensus price target of $345.40.

Snap-on Trading Down 0.6 %

Shares of SNA stock opened at $369.23 on Friday. The company has a market cap of $19.39 billion, a P/E ratio of 19.00, a PEG ratio of 2.45 and a beta of 0.96. The stock has a 50 day simple moving average of $323.02 and a two-hundred day simple moving average of $290.07. 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 fifty-two week low of $252.98 and a fifty-two week high of $373.89.

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

Snap-on Increases Dividend

The firm also recently announced 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 an increase from Snap-on’s previous quarterly dividend of $1.86. This represents a $8.56 dividend on an annualized basis and a yield of 2.32%. The ex-dividend date of this dividend is Thursday, November 21st. Snap-on’s payout ratio is presently 44.06%.

Snap-on declared that its Board of Directors has initiated a stock buyback plan on Thursday, August 8th that authorizes the company to buyback $500.00 million in outstanding 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 an indication that the company’s leadership believes its shares are undervalued.

Insiders Place Their Bets

In other news, VP Richard Thomas Miller sold 1,750 shares of the business’s stock in a transaction that occurred on Friday, October 18th. The stock was sold at an average price of $330.00, for a total transaction of $577,500.00. Following the completion of the sale, the vice president now owns 3,218 shares in the company, valued at $1,061,940. The trade was a 35.23 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, 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 sale, the vice president now owns 10,493 shares of the company’s stock, valued at approximately $3,137,302.07. This represents a 36.55 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 20,531 shares of company stock worth $6,628,691. 4.10% of the stock is owned by corporate insiders.

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.