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 - Free Report) 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.

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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.

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View Our Latest Analysis on Snap-On

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.

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Snap-On (NYSE:SNA - Get Free Report) 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.

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