DekaBank Deutsche Girozentrale Has $119.37 Million Stake in Snap-on Incorporated (NYSE:SNA)

DekaBank Deutsche Girozentrale boosted its position in Snap-on Incorporated (NYSE:SNA) by 0.4% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 415,921 shares of the company’s stock after purchasing an additional 1,455 shares during the period. DekaBank Deutsche Girozentrale owned 0.79% of Snap-on worth $119,368,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of SNA. Mawer Investment Management Ltd. boosted its position in Snap-on by 234.7% during the 2nd quarter. Mawer Investment Management Ltd. now owns 632,226 shares of the company’s stock worth $165,258,000 after buying an additional 443,333 shares during the period. Pacer Advisors Inc. raised its stake in shares of Snap-on by 51.2% during the second quarter. Pacer Advisors Inc. now owns 829,471 shares of the company’s stock valued at $216,815,000 after acquiring an additional 280,997 shares during the last quarter. Millennium Management LLC lifted its holdings in shares of Snap-on by 1,786.4% during the second quarter. Millennium Management LLC now owns 161,175 shares of the company’s stock worth $42,130,000 after purchasing an additional 152,631 shares during the period. International Assets Investment Management LLC increased its holdings in Snap-on by 34,381.0% in the third quarter. International Assets Investment Management LLC now owns 130,338 shares of the company’s stock valued at $37,760,000 after purchasing an additional 129,960 shares during the period. Finally, Glassman Wealth Services bought a new position in Snap-on during the 2nd quarter worth $26,608,000. Institutional investors and hedge funds own 84.88% of the company’s stock.

Insider Activity at Snap-on

In other Snap-on news, VP Richard Thomas Miller sold 1,750 shares of the firm’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 completion of the sale, the vice president now directly owns 3,218 shares in the company, valued at approximately $1,061,940. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, CEO Nicholas T. Pinchuk sold 24,145 shares of the stock in a transaction on Monday, August 12th. The stock was sold at an average price of $268.95, for a total value of $6,493,797.75. Following the transaction, the chief executive officer now directly owns 759,019 shares in the company, valued at $204,138,160.05. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, 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 transaction of $577,500.00. Following the sale, the vice president now owns 3,218 shares of the company’s stock, valued at $1,061,940. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 37,598 shares of company stock worth $10,461,986 in the last quarter. Company insiders own 4.10% of the company’s stock.

Wall Street Analyst Weigh In

SNA has been the topic of a number of analyst reports. Tigress Financial upped their price target on Snap-on from $336.00 to $385.00 and gave the company a “buy” rating in a research report on Friday. Robert W. Baird increased their target price on shares of Snap-on from $290.00 to $347.00 and gave the company a “neutral” rating in a research report on Friday, October 18th. Bank of America raised their price target on shares of Snap-on from $255.00 to $280.00 and gave the stock an “underperform” rating in a report on Friday, October 18th. Barrington Research upped their price objective 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, Roth Mkm increased their price objective 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. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the company. According to MarketBeat, Snap-on presently has a consensus rating of “Hold” and a consensus price target of $345.40.

Snap-on Trading Up 0.3 %

Shares of SNA stock opened at $326.58 on Friday. Snap-on Incorporated has a fifty-two week low of $250.30 and a fifty-two week high of $330.51. The company has a debt-to-equity ratio of 0.22, a quick ratio of 3.14 and a current ratio of 4.18. The stock has a 50 day simple moving average of $289.40 and a two-hundred day simple moving average of $277.80. The company has a market cap of $17.15 billion, a P/E ratio of 16.81, a PEG ratio of 2.14 and a beta of 0.98.

Snap-on announced that its board has authorized a share buyback program on Thursday, August 8th that allows the company to repurchase $500.00 million in outstanding shares. This repurchase authorization allows the company to buy up to 3.5% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.

Snap-on Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Monday, August 19th were paid a $1.86 dividend. The ex-dividend date of this dividend was Monday, August 19th. This represents a $7.44 annualized dividend and a dividend yield of 2.28%. Snap-on’s dividend payout ratio is currently 38.29%.

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.