Mackenzie Financial Corp Purchases 2,388 Shares of Snap-On Incorporated $SNA

Mackenzie Financial Corp raised its position in Snap-On Incorporated (NYSE:SNA) by 23.4% in the 2nd quarter, Holdings Channel.com reports. The firm owned 12,599 shares of the company’s stock after buying an additional 2,388 shares during the period. Mackenzie Financial Corp’s holdings in Snap-On were worth $3,921,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in SNA. Tobam bought a new position in Snap-On in the 2nd quarter valued at approximately $29,000. Ameritas Advisory Services LLC acquired a new position in Snap-On in the 2nd quarter valued at approximately $30,000. Vermillion & White Wealth Management Group LLC raised its stake in shares of Snap-On by 97.9% during the second quarter. Vermillion & White Wealth Management Group LLC now owns 95 shares of the company’s stock valued at $30,000 after acquiring an additional 47 shares during the last quarter. Ransom Advisory Ltd acquired a new position in shares of Snap-On during the first quarter worth $34,000. Finally, Thurston Springer Miller Herd & Titak Inc. lifted its holdings in shares of Snap-On by 52.8% during the second quarter. Thurston Springer Miller Herd & Titak Inc. now owns 110 shares of the company’s stock worth $34,000 after purchasing an additional 38 shares during the period. 84.88% of the stock is currently owned by institutional investors.

Snap-On Stock Up 0.5%

Shares of Snap-On stock opened at $346.11 on Friday. The stock’s 50-day moving average is $339.55 and its 200 day moving average is $328.85. Snap-On Incorporated has a one year low of $289.81 and a one year high of $365.78. The firm has a market cap of $18.00 billion, a price-to-earnings ratio of 18.15, a PEG ratio of 2.60 and a beta of 0.78. The company has a debt-to-equity ratio of 0.20, a current ratio of 4.40 and a quick ratio of 3.37.

Snap-On (NYSE:SNA) last issued its quarterly earnings results on Thursday, October 16th. The company reported $4.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.59 by $0.12. The firm had revenue of $1.19 billion for the quarter, compared to analyst estimates of $1.16 billion. Snap-On had a return on equity of 17.71% and a net margin of 21.08%.The company’s revenue was up 3.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $4.70 earnings per share. Equities research analysts anticipate that Snap-On Incorporated will post 19.79 EPS for the current year.

Snap-On Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 10th. Shareholders of record on Friday, November 21st will be paid a $2.44 dividend. This represents a $9.76 annualized dividend and a yield of 2.8%. This is an increase from Snap-On’s previous quarterly dividend of $2.14. The ex-dividend date of this dividend is Friday, November 21st. Snap-On’s payout ratio is presently 51.18%.

Insider Activity at Snap-On

In related news, CFO Aldo John Pagliari sold 3,091 shares of the business’s stock in a transaction dated Thursday, December 4th. The stock was sold at an average price of $346.80, for a total value of $1,071,958.80. Following the completion of the sale, the chief financial officer directly owned 108,648 shares of the company’s stock, valued at $37,679,126.40. The trade was a 2.77% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Richard Thomas Miller sold 2,000 shares of the stock in a transaction that occurred on Thursday, December 4th. The stock was sold at an average price of $348.27, for a total value of $696,540.00. Following the completion of the transaction, the vice president owned 4,158 shares in the company, valued at approximately $1,448,106.66. The trade was a 32.48% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 33,257 shares of company stock worth $11,323,424 over the last three months. 3.90% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

SNA has been the subject of several analyst reports. Roth Capital reaffirmed a “buy” rating and set a $385.00 target price on shares of Snap-On in a research report on Friday, October 17th. Wall Street Zen raised Snap-On from a “hold” rating to a “buy” rating in a research note on Saturday, October 18th. Tigress Financial raised their price objective on Snap-On from $395.00 to $405.00 and gave the stock a “buy” rating in a research report on Tuesday, October 21st. Weiss Ratings reiterated a “buy (b)” rating on shares of Snap-On in a report on Wednesday, October 8th. Finally, Barrington Research restated an “outperform” rating and set a $350.00 price target on shares of Snap-On in a report on Wednesday, October 15th. Five analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $365.00.

About Snap-On

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.