Private Advisor Group LLC grew its holdings in Snap-on Incorporated (NYSE:SNA – Free Report) by 1.5% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 9,649 shares of the company’s stock after acquiring an additional 142 shares during the quarter. Private Advisor Group LLC’s holdings in Snap-on were worth $2,795,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also made changes to their positions in the business. Manning & Napier Advisors LLC acquired a new stake in Snap-on during the second quarter worth approximately $4,571,000. SG Americas Securities LLC boosted its stake in Snap-on by 32.7% in the second quarter. SG Americas Securities LLC now owns 13,140 shares of the company’s stock valued at $3,435,000 after acquiring an additional 3,238 shares in the last quarter. Strategic Financial Concepts LLC acquired a new position in Snap-on in the second quarter valued at $3,653,000. LSV Asset Management grew its holdings in shares of Snap-on by 0.5% during the first quarter. LSV Asset Management now owns 674,341 shares of the company’s stock worth $199,753,000 after purchasing an additional 3,535 shares during the last quarter. Finally, Empirical Finance LLC increased its position in shares of Snap-on by 105.5% during the second quarter. Empirical Finance LLC now owns 3,994 shares of the company’s stock worth $1,044,000 after purchasing an additional 2,050 shares in the last quarter. Institutional investors and hedge funds own 84.88% of the company’s stock.
Wall Street Analysts Forecast Growth
SNA has been the topic of a number of research reports. Robert W. Baird raised their price target on Snap-on from $290.00 to $347.00 and gave the stock a “neutral” rating in a research note on Friday, October 18th. Tigress Financial lifted their target price on shares of Snap-on from $336.00 to $385.00 and gave the company a “buy” rating in a report on Friday. Bank of America upped their price target on shares of Snap-on from $255.00 to $280.00 and gave the company an “underperform” rating in a research report on Friday, October 18th. Roth Mkm raised their price objective on shares of Snap-on from $324.00 to $365.00 and gave the stock a “buy” rating in a research report on Tuesday, October 22nd. Finally, Barrington Research upped their target price on shares of Snap-on from $325.00 to $350.00 and gave the company an “outperform” rating in a report on Thursday, October 17th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Snap-on has an average rating of “Hold” and an average price target of $345.40.
Snap-on Stock Performance
NYSE:SNA opened at $332.69 on Tuesday. The company has a debt-to-equity ratio of 0.22, a current ratio of 4.18 and a quick ratio of 3.14. The firm has a market cap of $17.47 billion, a price-to-earnings ratio of 17.12, a price-to-earnings-growth ratio of 2.16 and a beta of 0.98. The firm’s fifty day moving average price is $290.50 and its 200 day moving average price is $277.99. Snap-on Incorporated has a 1-year low of $252.21 and a 1-year high of $334.39.
Snap-on Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Monday, August 19th were issued a $1.86 dividend. This represents a $7.44 annualized dividend and a dividend yield of 2.24%. The ex-dividend date of this dividend was Monday, August 19th. Snap-on’s payout ratio is 38.29%.
Snap-on announced that its board has initiated a share buyback plan on Thursday, August 8th that authorizes the company to buyback $500.00 million in shares. This buyback authorization authorizes the company to repurchase up to 3.5% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s management believes its shares are undervalued.
Insider Transactions at Snap-on
In other Snap-on news, CEO Nicholas T. Pinchuk sold 24,145 shares of Snap-on stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $268.95, for a total value of $6,493,797.75. Following the sale, the chief executive officer now owns 759,019 shares of the company’s stock, valued at approximately $204,138,160.05. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Snap-on news, CEO Nicholas T. Pinchuk sold 24,145 shares of the stock in a transaction on Monday, August 12th. The stock was sold at an average price of $268.95, for a total value of $6,493,797.75. Following the completion of the transaction, the chief executive officer now owns 759,019 shares in the company, valued at approximately $204,138,160.05. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Richard Thomas Miller sold 1,750 shares of the business’s stock in a transaction on Friday, October 18th. The stock was sold at an average price of $330.00, for a total transaction of $577,500.00. Following the sale, the vice president now owns 3,218 shares in the company, valued at $1,061,940. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 37,598 shares of company stock worth $10,461,986 over the last ninety days. 4.10% of the stock is currently owned by company insiders.
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.
Further Reading
- Five stocks we like better than Snap-on
- Dividend Payout Ratio Calculator
- Inflation Risk Rising, Key Trades Investors Are Making Now
- Conference Calls and Individual Investors
- 3 Oil Stocks to Watch Before Earnings Come Out
- Stock Sentiment Analysis: How it Works
- Is American Express Stock’s Sell-the-News Reaction a Buying Opp?
Receive News & Ratings for Snap-on Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Snap-on and related companies with MarketBeat.com's FREE daily email newsletter.