I remain upbeat about the shares of Snap-on Incorporated (SNA), a US-based manufacturer of tools and equipment for automotive service industry and other industrial users. The company’s financials for the third quarter of 2016 were solid, with organic sales growth of 2.6%. Operating margin expanded 140 basis points to 18.9%, and adjusted earnings per share jumped 12.1% to $2.22 comfortably beating analysts’ average projection of $2.15. In November, Snap-on raised its quarterly dividend by 16.4% to 71 cents per share, which offers annualized dividend yield of 1.6%.Snap-on is witnessing encouraging prospects in most of its business lines that signal brighter prospects, going forward. The Repair Systems & Information segment has been gaining traction on the back of factors like rising penetration in emerging markets, persistent software and hardware upgrades and productivity enhancements. The Snap-on Tools Group is also witnessing robust momentum. The company is also dedicated toward its rapid continuous improvement (“RCI”) program designed to enhance organizational effectiveness and minimize costs. It helps Snap-On to boost sales, margins and generate savings. It also includes transformation of the company’s global manufacturing and supply chain into a market-demand-based and lower-cost replenishment system.In October, Snap-on decided to purchase Sweden-based firm Car-O-Liner, a leading global provider of collision repair equipment and information and truck alignment systems. The deal should fortify the company’s footprint in the auto and heavy-duty markets. In November, Snap-on acquired Sturtevant Richmont that is engaged in designing, manufacturing and distributing mechanical and electronic torque wrenches. This strategic buyout is expected to improve the company’s critical mechanical performance by addressing critical torque requirements.Shares of Snap-on are testing the $175 resistance level. I'd buy on breaking it, with medium-term target at $185. $SNA, Snap-On Incorporated / 1440