Net Worth Advisory Group bought a new stake in Snap-on Incorporated (NYSE:SNA - Free Report) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 1,965 shares of the company's stock, valued at approximately $569,000.
A number of other hedge funds have also recently modified their holdings of SNA. Stratos Wealth Partners LTD. raised its position in Snap-on by 1.8% in the 3rd quarter. Stratos Wealth Partners LTD. now owns 28,453 shares of the company's stock valued at $8,243,000 after purchasing an additional 492 shares during the last quarter. Inspire Advisors LLC raised its holdings in shares of Snap-on by 104.0% in the third quarter. Inspire Advisors LLC now owns 3,348 shares of the company's stock valued at $970,000 after buying an additional 1,707 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd grew its holdings in shares of Snap-on by 1.7% during the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 5,076 shares of the company's stock worth $1,471,000 after buying an additional 86 shares during the last quarter. Cardinal Capital Management increased its position in Snap-on by 3.4% in the 3rd quarter. Cardinal Capital Management now owns 10,880 shares of the company's stock valued at $3,152,000 after acquiring an additional 353 shares during the period. Finally, Global Retirement Partners LLC raised its stake in Snap-on by 9.5% during the 3rd quarter. Global Retirement Partners LLC now owns 3,760 shares of the company's stock valued at $1,089,000 after acquiring an additional 325 shares during the last quarter. 84.88% of the stock is owned by hedge funds and other institutional investors.
In other news, CEO Nicholas T. Pinchuk sold 24,145 shares of the firm's stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $268.95, for a total transaction of $6,493,797.75. Following the completion of the sale, the chief executive officer now owns 759,019 shares of the company's stock, valued at approximately $204,138,160.05. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CEO Nicholas T. Pinchuk sold 24,145 shares of the firm's stock in a transaction on Monday, August 12th. The stock was sold at an average price of $268.95, for a total transaction of $6,493,797.75. Following the transaction, the chief executive officer now directly owns 759,019 shares in the company, valued at $204,138,160.05. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP June C. Lemerand sold 1,186 shares of the business's stock in a transaction on Monday, August 26th. The shares were sold at an average price of $283.97, for a total transaction of $336,788.42. Following the sale, the vice president now owns 2,283 shares of the company's stock, valued at approximately $648,303.51. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 35,848 shares of company stock valued at $9,884,486 over the last quarter. Company insiders own 4.10% of the company's stock.
Several research firms recently issued reports on SNA. Roth Mkm reissued a "buy" rating and set a $324.00 price target on shares of Snap-on in a report on Tuesday, July 16th. Bank of America raised their price target on Snap-on from $255.00 to $280.00 and gave the company an "underperform" rating in a report on Friday. Tigress Financial reaffirmed a "buy" rating and set a $336.00 price objective on shares of Snap-on in a report on Thursday, July 25th. Robert W. Baird raised their target price on Snap-on from $290.00 to $347.00 and gave the company a "neutral" rating in a report on Friday. Finally, Barrington Research increased their price target on shares of Snap-on from $325.00 to $350.00 and gave the company an "outperform" rating in a report on Thursday. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the company's stock. Based on data from MarketBeat.com, Snap-on has an average rating of "Hold" and a consensus price target of $327.40.
Check Out Our Latest Stock Analysis on Snap-on
Shares of SNA opened at $326.09 on Friday. Snap-on Incorporated has a 12-month low of $249.84 and a 12-month high of $330.51. The stock has a market cap of $17.19 billion, a P/E ratio of 17.11, a PEG ratio of 2.06 and a beta of 0.98. The company has a current ratio of 4.06, a quick ratio of 3.05 and a debt-to-equity ratio of 0.22. The company has a 50-day moving average of $284.18 and a two-hundred day moving average of $276.68.
Snap-on (NYSE:SNA - Get Free Report) last issued its quarterly earnings data on Thursday, July 18th. The company reported $5.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.94 by $0.13. The business had revenue of $1.18 billion for the quarter, compared to the consensus estimate of $1.20 billion. Snap-on had a return on equity of 19.90% and a net margin of 21.90%. The business's revenue was down 1.0% on a year-over-year basis. During the same period in the prior year, the business earned $4.89 earnings per share. As a group, research analysts predict that Snap-on Incorporated will post 18.95 EPS for the current fiscal year.
Snap-on declared that its Board of Directors has initiated a share repurchase plan on Thursday, August 8th that permits the company to buyback $500.00 million in shares. This buyback authorization permits the company to purchase up to 3.5% of its shares through open market purchases. Shares buyback plans are generally an indication that the company's board believes its stock is undervalued.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Monday, August 19th were issued a dividend of $1.86 per share. The ex-dividend date was Monday, August 19th. This represents a $7.44 annualized dividend and a dividend yield of 2.28%. Snap-on's payout ratio is 39.03%.
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.
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to [email protected].
Before you consider Snap-on, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Snap-on wasn't on the list.
While Snap-on currently has a "Hold" rating among analysts, top-rated analysts believe these five stocks are better buys.