Y Intercept Hong Kong Ltd Increases Stake in Snap-on Incorporated (NYSE:SNA)

Y Intercept Hong Kong Ltd lifted its stake in shares of Snap-on Incorporated (NYSE:SNA) by 31.0% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 5,236 shares of the company’s stock after buying an additional 1,239 shares during the quarter. Y Intercept Hong Kong Ltd’s holdings in Snap-on were worth $1,517,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Reston Wealth Management LLC acquired a new position in Snap-on during the 3rd quarter worth approximately $30,000. Innealta Capital LLC purchased a new stake in shares of Snap-on during the 2nd quarter worth $32,000. Massmutual Trust Co. FSB ADV grew its stake in shares of 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 purchasing an additional 44 shares in the last quarter. Brooklyn Investment Group purchased a new position in Snap-on in the third quarter valued at $39,000. Finally, Quarry LP raised its stake in Snap-on by 244.7% in 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. 84.88% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, VP Richard Thomas Miller sold 1,750 shares of the company’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 transaction, the vice president now directly owns 3,218 shares of the company’s stock, valued at $1,061,940. This represents a 35.23 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Iain Boyd sold 6,044 shares of the firm’s stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $298.99, for a total transaction of $1,807,095.56. Following the completion of the sale, the vice president now owns 10,493 shares of the company’s stock, valued at $3,137,302.07. This trade represents a 36.55 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 45,814 shares of company stock valued at $15,627,963 over the last quarter. Corporate insiders own 4.10% of the company’s stock.

Snap-on Stock Up 0.1 %

SNA stock opened at $354.78 on Wednesday. The company has a market cap of $18.63 billion, a price-to-earnings ratio of 18.26, a price-to-earnings-growth ratio of 2.37 and a beta of 0.98. The company has a fifty day moving average price of $336.71 and a 200 day moving average price of $295.60. The company has a debt-to-equity ratio of 0.22, a current ratio of 4.18 and a quick ratio of 3.14. Snap-on Incorporated has a 12 month low of $252.98 and a 12 month high of $373.89.

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

Snap-on Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Thursday, November 21st were paid a $2.14 dividend. This represents a $8.56 annualized dividend and a dividend yield of 2.41%. The ex-dividend date of this dividend was Thursday, November 21st. This is a boost from Snap-on’s previous quarterly dividend of $1.86. Snap-on’s dividend payout ratio (DPR) is 44.06%.

Analyst Upgrades and Downgrades

SNA has been the topic of a number of recent analyst reports. Roth Mkm increased their price objective on Snap-on from $324.00 to $365.00 and gave the company a “buy” rating in a report on Tuesday, October 22nd. Tigress Financial raised their price objective 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. Barrington Research upped their target price on shares of Snap-on from $325.00 to $350.00 and gave the company an “outperform” rating in a report on Thursday, October 17th. Robert W. Baird lifted their price target on shares of Snap-on from $290.00 to $347.00 and gave the stock a “neutral” rating in a research note on Friday, October 18th. Finally, Bank of America upped their price objective on shares of Snap-on from $255.00 to $280.00 and gave the company an “underperform” rating in a research note 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 company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $345.40.

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.