Rakuten Investment Management Inc. Acquires Shares of 176,418 Snap-On Incorporated $SNA

Rakuten Investment Management Inc. bought a new position in Snap-On Incorporated (NYSE:SNA) during the third quarter, HoldingsChannel.com reports. The fund bought 176,418 shares of the company’s stock, valued at approximately $61,134,000.

Other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. increased its stake in Snap-On by 1.3% during the second quarter. Vanguard Group Inc. now owns 6,495,475 shares of the company’s stock worth $2,021,262,000 after acquiring an additional 80,422 shares during the last quarter. State Street Corp boosted its holdings in shares of Snap-On by 0.6% in the 2nd quarter. State Street Corp now owns 2,207,840 shares of the company’s stock worth $687,036,000 after purchasing an additional 12,184 shares during the period. Charles Schwab Investment Management Inc. increased its position in shares of Snap-On by 1.9% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 1,958,005 shares of the company’s stock valued at $609,292,000 after purchasing an additional 36,421 shares during the last quarter. First Trust Advisors LP lifted its position in Snap-On by 40.7% in the second quarter. First Trust Advisors LP now owns 1,892,708 shares of the company’s stock worth $588,973,000 after buying an additional 547,527 shares during the last quarter. Finally, Nordea Investment Management AB boosted its stake in Snap-On by 3.0% during the third quarter. Nordea Investment Management AB now owns 1,258,712 shares of the company’s stock worth $433,601,000 after buying an additional 36,964 shares during the period. Institutional investors own 84.88% of the company’s stock.

Snap-On Price Performance

Snap-On stock opened at $364.97 on Wednesday. The company has a debt-to-equity ratio of 0.20, a current ratio of 4.40 and a quick ratio of 3.37. The stock has a market cap of $18.98 billion, a price-to-earnings ratio of 19.14, a price-to-earnings-growth ratio of 2.54 and a beta of 0.80. The firm has a 50-day moving average of $347.59 and a two-hundred day moving average of $337.40. Snap-On Incorporated has a 1 year low of $289.81 and a 1 year high of $366.17.

Snap-On Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, December 10th. Investors of record on Friday, November 21st were issued a $2.44 dividend. The ex-dividend date was Friday, November 21st. This is a positive change from Snap-On’s previous quarterly dividend of $2.14. This represents a $9.76 dividend on an annualized basis and a dividend yield of 2.7%. Snap-On’s dividend payout ratio (DPR) is presently 51.18%.

Analysts Set New Price Targets

A number of research firms recently commented on SNA. Tigress Financial lifted their price target on shares of Snap-On from $395.00 to $405.00 and gave the stock a “buy” rating in a research note on Tuesday, October 21st. Weiss Ratings reissued a “buy (b)” rating on shares of Snap-On in a research note on Wednesday, October 8th. Roth Capital restated a “buy” rating and set a $385.00 target price on shares of Snap-On in a research report on Friday, October 17th. Barrington Research reaffirmed an “outperform” rating and set a $350.00 target price on shares of Snap-On in a research note on Wednesday, October 15th. Finally, Robert W. Baird raised their price target on Snap-On from $355.00 to $365.00 and gave the stock a “neutral” rating in a research note on Friday, October 17th. Five investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $365.00.

Insider Transactions at Snap-On

In other Snap-On news, CEO Nicholas T. Pinchuk sold 22,607 shares of the firm’s stock in a transaction on Tuesday, December 2nd. The stock was sold at an average price of $339.15, for a total transaction of $7,667,164.05. Following the transaction, the chief executive officer directly owned 826,364 shares in the company, valued at $280,261,350.60. This trade represents a 2.66% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP Richard Thomas Miller sold 2,000 shares of the company’s stock in a transaction 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 sale, the vice president owned 4,158 shares of the company’s stock, valued at $1,448,106.66. This represents a 32.48% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 40,036 shares of company stock worth $13,710,988 in the last ninety days. 3.90% of the stock is owned by company insiders.

Snap-On Company Profile

Snap‑On Incorporated (NYSE: SNA) is a designer, manufacturer and marketer of tools, diagnostic equipment, repair information and shop equipment for professional users. The company’s product range includes hand and power tools, tool storage and cabinets, diagnostic scan tools and software, shop equipment such as lifts and tire changers, and specialized specialty tools for automotive, aviation, marine and industrial applications. Snap‑On also offers information and workflow solutions that combine diagnostic data, repair procedures and parts information to support professional technicians.

Founded in 1920 and headquartered in Kenosha, Wisconsin, Snap‑On has established a long history in the professional tools market.