Exchange Traded Concepts LLC Raises Position in Snap-on Incorporated (NYSE:SNA)

Exchange Traded Concepts LLC increased its stake in Snap-on Incorporated (NYSE:SNA) by 30.9% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 4,478 shares of the company’s stock after purchasing an additional 1,056 shares during the quarter. Exchange Traded Concepts LLC’s holdings in Snap-on were worth $1,297,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of SNA. Scarborough Advisors LLC bought a new stake in shares of Snap-on in the fourth quarter valued at $30,000. Opal Wealth Advisors LLC bought a new stake in Snap-on in the 2nd quarter valued at about $30,000. Innealta Capital LLC purchased a new stake in Snap-on during the second quarter valued at about $32,000. Massmutual Trust Co. FSB ADV boosted its position in Snap-on by 53.0% during the third quarter. Massmutual Trust Co. FSB ADV now owns 127 shares of the company’s stock worth $37,000 after purchasing an additional 44 shares during the period. Finally, Quarry LP increased its stake in shares of Snap-on by 244.7% in the second quarter. Quarry LP now owns 162 shares of the company’s stock worth $42,000 after purchasing an additional 115 shares in the last quarter. Hedge funds and other institutional investors own 84.88% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the stock. Robert W. Baird cut their price objective on shares of Snap-on from $282.00 to $275.00 and set a “neutral” rating for the company in a report on Friday, July 12th. Roth Mkm reiterated a “buy” rating and set a $324.00 price objective on shares of Snap-on in a research note on Tuesday, July 16th. Tigress Financial restated a “buy” rating and issued a $336.00 target price on shares of Snap-on in a research note on Thursday, July 25th. Finally, Barrington Research reiterated an “outperform” rating and set a $325.00 price target on shares of Snap-on in a research report on Friday, September 20th.

Insider Buying and Selling at Snap-on

In other news, CEO Nicholas T. Pinchuk sold 24,145 shares of the stock in a transaction on Monday, August 12th. The shares were sold at an average price of $268.95, for a total value of $6,493,797.75. Following the transaction, the chief executive officer now owns 759,019 shares of the company’s stock, valued at $204,138,160.05. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, CEO Nicholas T. Pinchuk sold 24,145 shares of the company’s stock in a transaction dated 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 directly owns 759,019 shares in the company, valued at approximately $204,138,160.05. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Aldo John Pagliari sold 4,473 shares of the stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $278.74, for a total value of $1,246,804.02. Following the transaction, the chief financial officer now owns 99,244 shares in the company, valued at $27,663,272.56. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 35,848 shares of company stock worth $9,884,486 over the last three months. 4.10% of the stock is owned by insiders.

Snap-on Trading Up 0.7 %

Snap-on stock opened at $297.88 on Thursday. The company has a debt-to-equity ratio of 0.22, a quick ratio of 3.05 and a current ratio of 4.06. Snap-on Incorporated has a fifty-two week low of $249.84 and a fifty-two week high of $302.64. The stock has a market cap of $15.70 billion, a P/E ratio of 15.64, a PEG ratio of 1.99 and a beta of 0.98. The firm’s fifty day moving average price is $281.47 and its 200-day moving average price is $276.05.

Snap-on (NYSE:SNA) last announced its earnings results on Thursday, July 18th. The company reported $5.07 earnings per share for the quarter, topping analysts’ consensus estimates of $4.94 by $0.13. The business had revenue of $1.18 billion for the quarter, compared to analyst estimates of $1.20 billion. Snap-on had a return on equity of 19.90% and a net margin of 21.90%. The company’s quarterly revenue was down 1.0% compared to the same quarter last year. During the same period in the prior year, the company earned $4.89 EPS. Equities research analysts forecast that Snap-on Incorporated will post 18.95 earnings per share for the current fiscal year.

Snap-on Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Monday, August 19th were given a $1.86 dividend. This represents a $7.44 annualized dividend and a dividend yield of 2.50%. The ex-dividend date of this dividend was Monday, August 19th. Snap-on’s dividend payout ratio (DPR) is 39.03%.

Snap-on declared that its board has approved a stock buyback plan on Thursday, August 8th that allows the company to buyback $500.00 million in outstanding shares. This buyback authorization allows the company to reacquire up to 3.5% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s board believes its shares are undervalued.

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.