Legacy Capital Group California Inc. Sells 284 Shares of Snap-on Incorporated (NYSE:SNA)

Legacy Capital Group California Inc. lessened its holdings in shares of Snap-on Incorporated (NYSE:SNA) by 20.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,089 shares of the company’s stock after selling 284 shares during the quarter. Legacy Capital Group California Inc.’s holdings in Snap-on were worth $316,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Renasant Bank raised its holdings in shares of Snap-on by 2.3% in the first quarter. Renasant Bank now owns 1,592 shares of the company’s stock worth $472,000 after buying an additional 36 shares during the period. TFB Advisors LLC grew its position in Snap-on by 3.2% in the 2nd quarter. TFB Advisors LLC now owns 1,226 shares of the company’s stock valued at $320,000 after acquiring an additional 38 shares during the last quarter. Financial Advocates Investment Management increased its stake in Snap-on by 1.2% in the second quarter. Financial Advocates Investment Management now owns 3,360 shares of the company’s stock worth $878,000 after purchasing an additional 39 shares during the period. Ritholtz Wealth Management lifted its position in shares of Snap-on by 4.0% during the second quarter. Ritholtz Wealth Management now owns 1,013 shares of the company’s stock worth $265,000 after purchasing an additional 39 shares during the last quarter. Finally, Mount Yale Investment Advisors LLC boosted its stake in shares of Snap-on by 2.1% during the second quarter. Mount Yale Investment Advisors LLC now owns 1,920 shares of the company’s stock valued at $502,000 after purchasing an additional 39 shares during the period. 84.88% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Snap-on

In other news, VP Richard Thomas Miller sold 1,750 shares of Snap-on stock in a transaction that occurred on Friday, October 18th. The shares were sold at an average price of $330.00, for a total value of $577,500.00. Following the transaction, the vice president now owns 3,218 shares of the company’s stock, valued at $1,061,940. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other 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 transaction of $6,493,797.75. Following the completion of the sale, 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 position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP Richard Thomas Miller sold 1,750 shares of the firm’s stock in a transaction on Friday, October 18th. The stock was sold at an average price of $330.00, for a total value of $577,500.00. Following the completion of the sale, the vice president now directly owns 3,218 shares of the company’s stock, valued at $1,061,940. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 37,598 shares of company stock valued at $10,461,986. 4.10% of the stock is currently owned by insiders.

Snap-on Stock Up 0.3 %

Shares of NYSE SNA opened at $326.62 on Friday. The stock has a market capitalization of $17.15 billion, a PE ratio of 16.81, a price-to-earnings-growth ratio of 2.14 and a beta of 0.98. The company has a current ratio of 4.18, a quick ratio of 3.14 and a debt-to-equity ratio of 0.22. Snap-on Incorporated has a 12-month low of $250.30 and a 12-month high of $330.51. The stock’s fifty day simple moving average is $289.40 and its two-hundred day simple moving average is $277.91.

Snap-on announced that its Board of Directors has authorized a share buyback program 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 stock through open market purchases. Stock buyback programs are typically a sign that the company’s board believes its shares are undervalued.

Snap-on Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Monday, August 19th were issued a $1.86 dividend. The ex-dividend date was Monday, August 19th. This represents a $7.44 dividend on an annualized basis and a yield of 2.28%. Snap-on’s dividend payout ratio is presently 38.29%.

Analyst Upgrades and Downgrades

A number of brokerages have commented on SNA. Barrington Research upped their target price on shares of Snap-on from $325.00 to $350.00 and gave the stock an “outperform” rating in a research note on Thursday, October 17th. Tigress Financial increased their price objective on Snap-on from $336.00 to $385.00 and gave the stock a “buy” rating in a research note on Friday. Roth Mkm lifted their target price on Snap-on from $324.00 to $365.00 and gave the company a “buy” rating in a research report on Tuesday. Bank of America increased their price target on Snap-on from $255.00 to $280.00 and gave the stock an “underperform” rating in a research report on Friday, October 18th. Finally, Robert W. Baird raised their price target on Snap-on from $290.00 to $347.00 and gave the company a “neutral” rating in a research note on Friday, October 18th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $345.40.

Snap-on Profile

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.