Brandywine Global Investment Management LLC Raises Position in Snap-On Incorporated $SNA

Brandywine Global Investment Management LLC lifted its holdings in shares of Snap-On Incorporated (NYSE:SNA) by 31.2% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 41,566 shares of the company’s stock after purchasing an additional 9,892 shares during the quarter. Brandywine Global Investment Management LLC owned about 0.08% of Snap-On worth $12,935,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. IFP Advisors Inc increased its stake in shares of Snap-On by 22.2% during the 1st quarter. IFP Advisors Inc now owns 1,009 shares of the company’s stock valued at $342,000 after acquiring an additional 183 shares during the last quarter. Teachers Retirement System of The State of Kentucky grew its holdings in Snap-On by 2.6% in the first quarter. Teachers Retirement System of The State of Kentucky now owns 4,041 shares of the company’s stock valued at $1,362,000 after purchasing an additional 104 shares during the period. Allianz Asset Management GmbH grew its holdings in Snap-On by 80.1% in the first quarter. Allianz Asset Management GmbH now owns 40,078 shares of the company’s stock valued at $13,507,000 after purchasing an additional 17,819 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH increased its position in Snap-On by 9.3% during the first quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 48,644 shares of the company’s stock worth $16,394,000 after purchasing an additional 4,134 shares during the last quarter. Finally, Venturi Wealth Management LLC raised its stake in Snap-On by 9.0% during the first quarter. Venturi Wealth Management LLC now owns 1,421 shares of the company’s stock worth $479,000 after purchasing an additional 117 shares during the period. 84.88% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. Tigress Financial upped their price objective on Snap-On from $395.00 to $405.00 and gave the stock a “buy” rating in a report on Tuesday, October 21st. Weiss Ratings restated a “buy (b)” rating on shares of Snap-On in a research note on Wednesday, October 8th. Robert W. Baird raised their price objective on Snap-On from $355.00 to $365.00 and gave the stock a “neutral” rating in a report on Friday, October 17th. Barrington Research reiterated an “outperform” rating and set a $350.00 target price on shares of Snap-On in a report on Wednesday, October 15th. Finally, Wall Street Zen upgraded shares of Snap-On from a “hold” rating to a “buy” rating in a report on Saturday, October 18th. Five investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $365.00.

Snap-On Price Performance

SNA opened at $336.07 on Friday. Snap-On Incorporated has a twelve month low of $289.81 and a twelve month high of $373.89. The firm has a market cap of $17.48 billion, a price-to-earnings ratio of 17.62, a PEG ratio of 2.33 and a beta of 0.81. The company has a current ratio of 4.40, a quick ratio of 3.37 and a debt-to-equity ratio of 0.20. The company has a fifty day simple moving average of $338.96 and a 200 day simple moving average of $327.69.

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

Snap-On Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 10th. Shareholders of record on Friday, November 21st will be issued a dividend of $2.44 per share. The ex-dividend date is Friday, November 21st. This represents a $9.76 annualized dividend and a yield of 2.9%. This is a boost from Snap-On’s previous quarterly dividend of $2.14. Snap-On’s dividend payout ratio (DPR) is presently 51.18%.

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.