Snap-on Incorporated (NYSE:SNA) Shares Sold by Legacy Wealth Asset Management LLC

Legacy Wealth Asset Management LLC trimmed its stake in shares of Snap-on Incorporated (NYSE:SNA) by 4.8% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,235 shares of the company’s stock after selling 62 shares during the period. Legacy Wealth Asset Management LLC’s holdings in Snap-on were worth $358,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. Opal Wealth Advisors LLC acquired a new position in Snap-on during the second quarter worth $30,000. Innealta Capital LLC acquired a new position in shares of Snap-on during the 2nd quarter worth $32,000. Massmutual Trust Co. FSB ADV boosted its position in shares of Snap-on by 53.0% in the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 127 shares of the company’s stock worth $37,000 after buying an additional 44 shares in the last quarter. Quarry LP grew its stake in Snap-on by 244.7% in the 2nd quarter. Quarry LP now owns 162 shares of the company’s stock valued at $42,000 after acquiring an additional 115 shares during the last quarter. Finally, Fidelis Capital Partners LLC purchased a new position in Snap-on during the 1st quarter valued at about $56,000. Hedge funds and other institutional investors own 84.88% of the company’s stock.

Analyst Ratings Changes

SNA has been the topic of several research reports. 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 research report on Thursday, October 17th. Tigress Financial raised their price target on Snap-on from $336.00 to $385.00 and gave the stock a “buy” rating in a research report on Friday. Bank of America upped their price objective on 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 lifted their price objective on Snap-on from $324.00 to $365.00 and gave the stock a “buy” rating in a research report on Tuesday, October 22nd. Finally, Robert W. Baird upped their target price on shares of Snap-on from $290.00 to $347.00 and gave the company a “neutral” rating in a report on Friday, October 18th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, Snap-on has an average rating of “Hold” and a consensus target price of $345.40.

Snap-on Price Performance

Shares of NYSE:SNA opened at $326.58 on Friday. The business has a fifty day simple moving average of $289.40 and a 200-day simple moving average of $277.80. Snap-on Incorporated has a 52 week low of $250.30 and a 52 week high of $330.51. The company has a market cap of $17.15 billion, a P/E ratio of 16.81, a P/E/G ratio of 2.14 and a beta of 0.98. The company has a quick ratio of 3.14, a current ratio of 4.18 and a debt-to-equity ratio of 0.22.

Snap-on Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Monday, August 19th were paid a dividend of $1.86 per share. This represents a $7.44 dividend on an annualized basis and a dividend yield of 2.28%. The ex-dividend date of this dividend was Monday, August 19th. Snap-on’s dividend payout ratio is currently 38.29%.

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

Insider Transactions at Snap-on

In related news, CEO Nicholas T. Pinchuk sold 24,145 shares of the company’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 transaction, the chief executive officer now owns 759,019 shares of the company’s stock, valued at approximately $204,138,160.05. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Snap-on news, VP June C. Lemerand sold 1,186 shares of the business’s stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $283.97, for a total transaction of $336,788.42. Following the completion of 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Nicholas T. Pinchuk sold 24,145 shares of the firm’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 owns 759,019 shares in the company, valued at approximately $204,138,160.05. This trade represents 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 in the last three months. Company insiders own 4.10% of the company’s stock.

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.