Janney Montgomery Scott LLC Acquires 455 Shares of Snap-on Incorporated (NYSE:SNA)

Janney Montgomery Scott LLC increased its holdings in shares of Snap-on Incorporated (NYSE:SNA) by 2.0% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 23,102 shares of the company’s stock after acquiring an additional 455 shares during the period. Janney Montgomery Scott LLC’s holdings in Snap-on were worth $6,693,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Reston Wealth Management LLC bought a new stake in shares of Snap-on in the 3rd quarter worth approximately $30,000. Opal Wealth Advisors LLC bought a new stake in Snap-on in the second quarter worth $30,000. Innealta Capital LLC purchased a new stake in shares of Snap-on in the second quarter worth $32,000. Massmutual Trust Co. FSB ADV grew its stake in shares of Snap-on by 53.0% in the third quarter. Massmutual Trust Co. FSB ADV now owns 127 shares of the company’s stock worth $37,000 after acquiring an additional 44 shares during the last quarter. Finally, Quarry LP increased its holdings in shares of Snap-on by 244.7% during the second quarter. Quarry LP now owns 162 shares of the company’s stock valued at $42,000 after acquiring an additional 115 shares in the last quarter. Institutional investors own 84.88% of the company’s stock.

Insider Transactions at Snap-on

In other Snap-on news, SVP Thomas J. Ward sold 12,737 shares of the stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $333.21, for a total value of $4,244,095.77. Following the transaction, the senior vice president now owns 55,401 shares of the company’s stock, valued at approximately $18,460,167.21. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, VP Richard Thomas Miller sold 1,750 shares of the business’s stock in a transaction that occurred on Friday, October 18th. The shares were sold at an average price of $330.00, for a total transaction of $577,500.00. Following the completion of the sale, the vice president now directly owns 3,218 shares in the company, valued at approximately $1,061,940. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Thomas J. Ward sold 12,737 shares of the stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $333.21, for a total transaction of $4,244,095.77. Following the completion of the transaction, the senior vice president now owns 55,401 shares in the company, valued at $18,460,167.21. 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 50,335 shares of company stock worth $14,706,082 in the last ninety days. Insiders own 4.10% of the company’s stock.

Wall Street Analyst Weigh In

SNA has been the topic of several recent analyst reports. Bank of America increased their price objective 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. 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, October 17th. Roth Mkm boosted their price objective on shares of Snap-on from $324.00 to $365.00 and gave the stock a “buy” rating in a report on Tuesday, October 22nd. Robert W. Baird increased their target price on Snap-on from $290.00 to $347.00 and gave the company a “neutral” rating in a research note on Friday, October 18th. Finally, Tigress Financial boosted their price target on Snap-on from $336.00 to $385.00 and gave the stock a “buy” rating in a research note on Friday, October 25th. One analyst has rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $345.40.

Snap-on Stock Up 1.8 %

Shares of Snap-on stock opened at $359.37 on Friday. Snap-on Incorporated has a twelve month low of $252.98 and a twelve month high of $360.41. The company has a quick ratio of 3.14, a current ratio of 4.18 and a debt-to-equity ratio of 0.22. The company’s 50 day moving average is $301.16 and its 200 day moving average is $281.90. The company has a market cap of $18.87 billion, a price-to-earnings ratio of 18.50, a price-to-earnings-growth ratio of 2.34 and a beta of 0.96.

Snap-on announced that its board has approved a stock repurchase program on Thursday, August 8th that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the company to repurchase up to 3.5% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board of directors believes its stock is undervalued.

Snap-on Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Thursday, November 21st will be issued a dividend of $2.14 per share. This represents a $8.56 annualized dividend and a dividend yield of 2.38%. This is a boost from Snap-on’s previous quarterly dividend of $1.86. Snap-on’s dividend payout ratio is presently 38.29%.

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.