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. Recently, the company issued solid financials for the fourth quarter of 2016. Revenues increased 4.5% y-o-y to $889.9 mn and surpassed consensus estimate of $884 mn. The improvement was driven by 3.6% organic sales growth and acquisitions, which was partially offset by unfavorable foreign currency translation. Operating income rose 8.5% to $176.1 mn, and operating margin expanded 70 basis points to 19.8%. Adjusted earnings per share jumped 11.3% to $2.47 beating analysts’ average projection of $2.41. For full year 2016, Snap-on earned $9.20 per share (growth of 13.6%) on revenues of $3.43 bn (growth of 2.3%).Snap-on exited Q4 with cash and cash equivalents of $77.6 mn, while long-term debt was $708.8 mn, a significant fall from $861.7 mn at the end of 2015. In the reported quarter, the company generated operating cash flow of $151.7 mn, up 5.1% y-o-y. Recently, the company also announced a quarterly dividend of 71 cents per share, which offers annualized dividend yield of 1.6%.During Q4, Snap-on purchased 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.Entering into 2017, Snap-on revealed plans to enhance the franchise network, expand ties with repair shop owners and managers, and foray into critical industries to strengthen hold in emerging markets. Solid prospects across business segments, a diversified portfolio and impressive traction of the newly launched products, we believe, will continue to add to the company’s strength.I expect that Snap-on’s shares will continue growth and reach $190 in medium term. $SNA, Snap-On Incorporated / D