Metis Global Partners LLC Has $490,000 Stake in Snap-on Incorporated (NYSE:SNA)

Metis Global Partners LLC boosted its holdings in shares of Snap-on Incorporated (NYSE:SNA) by 1.9% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,691 shares of the company’s stock after buying an additional 32 shares during the quarter. Metis Global Partners LLC’s holdings in Snap-on were worth $490,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Reston Wealth Management LLC acquired a new stake in shares of Snap-on in the third quarter worth $30,000. Opal Wealth Advisors LLC acquired a new position in Snap-on during the 2nd quarter worth $30,000. Innealta Capital LLC bought a new stake in Snap-on during the second quarter valued at about $32,000. Massmutual Trust Co. FSB ADV grew its position in shares of Snap-on by 53.0% in the third quarter. Massmutual Trust Co. FSB ADV now owns 127 shares of the company’s stock valued at $37,000 after purchasing an additional 44 shares during the last quarter. Finally, Quarry LP increased its stake 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 purchasing an additional 115 shares during the period. 84.88% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of analysts have issued reports on SNA shares. Bank of America raised their target price on Snap-on from $255.00 to $280.00 and gave the company an “underperform” rating in a report on Friday, October 18th. Roth Mkm boosted their target price on shares of Snap-on from $324.00 to $365.00 and gave the stock a “buy” rating in a research report on Tuesday, October 22nd. Robert W. Baird increased their price target on shares of Snap-on from $290.00 to $347.00 and gave the company a “neutral” rating in a report on Friday, October 18th. Barrington Research boosted their price objective on shares of Snap-on from $325.00 to $350.00 and gave the stock an “outperform” rating in a report on Thursday, October 17th. Finally, Tigress Financial lifted their target price 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 equities research analyst has rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, Snap-on has a consensus rating of “Hold” and a consensus price target of $345.40.

Snap-on Stock Performance

NYSE SNA opened at $357.64 on Tuesday. Snap-on Incorporated has a twelve month low of $252.98 and a twelve month high of $365.35. The company has a quick ratio of 3.14, a current ratio of 4.18 and a debt-to-equity ratio of 0.22. The stock has a market cap of $18.78 billion, a P/E ratio of 18.41, a PEG ratio of 2.36 and a beta of 0.96. The company’s 50-day simple moving average is $311.04 and its 200 day simple moving average is $285.83.

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

Snap-on Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Thursday, November 21st will be paid a dividend of $2.14 per share. This is a positive change from Snap-on’s previous quarterly dividend of $1.86. This represents a $8.56 annualized dividend and a yield of 2.39%. The ex-dividend date of this dividend is Thursday, November 21st. Snap-on’s dividend payout ratio is currently 38.29%.

Snap-on declared that its Board of Directors has initiated a stock buyback program 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 stock through open market purchases. Stock buyback programs are generally an indication that the company’s leadership believes its shares are undervalued.

Insider Activity

In other Snap-on news, VP June C. Lemerand sold 1,186 shares of Snap-on 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 owns 2,283 shares in the company, valued at approximately $648,303.51. The trade was a 34.19 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Aldo John Pagliari sold 4,473 shares of the business’s stock in a transaction on Thursday, August 22nd. The stock was sold at an average price of $278.74, for a total value of $1,246,804.02. Following the completion of the transaction, the chief financial officer now directly owns 99,244 shares in the company, valued at approximately $27,663,272.56. This represents a 4.31 % 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 worth $8,212,284. Corporate insiders own 4.10% of the company’s stock.

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.