Farther Finance Advisors LLC Purchases 941 Shares of Snap-on Incorporated (NYSE:SNA)

Farther Finance Advisors LLC lifted its position in Snap-on Incorporated (NYSE:SNA) by 66.3% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,360 shares of the company’s stock after acquiring an additional 941 shares during the quarter. Farther Finance Advisors LLC’s holdings in Snap-on were worth $606,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Bridgefront Capital LLC bought a new stake in shares of Snap-on in the 4th quarter worth about $1,119,000. Rockland Trust Co. bought a new stake in shares of Snap-on in the 1st quarter worth about $889,000. Goldman Sachs Group Inc. lifted its holdings in shares of Snap-on by 11.8% in the 4th quarter. Goldman Sachs Group Inc. now owns 271,436 shares of the company’s stock worth $78,401,000 after acquiring an additional 28,566 shares during the last quarter. Manning & Napier Advisors LLC bought a new stake in shares of Snap-on in the 2nd quarter worth about $4,571,000. Finally, Kingsview Wealth Management LLC lifted its holdings in shares of Snap-on by 42.0% in the 4th quarter. Kingsview Wealth Management LLC now owns 26,456 shares of the company’s stock worth $7,641,000 after acquiring an additional 7,830 shares during the last quarter. Institutional investors own 84.88% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently commented on the stock. Roth Mkm reaffirmed a “buy” rating and issued a $324.00 price target on shares of Snap-on in a research note on Tuesday, July 16th. Barrington Research reaffirmed an “outperform” rating and issued a $325.00 price target on shares of Snap-on in a research note on Tuesday, July 16th. Tigress Financial reaffirmed a “buy” rating and issued a $336.00 price target on shares of Snap-on in a research note on Thursday, July 25th. Finally, Robert W. Baird reduced their price target on shares of Snap-on from $282.00 to $275.00 and set a “neutral” rating on the stock in a research note on Friday, July 12th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $315.00.

Snap-on Trading Up 0.9 %

NYSE SNA opened at $283.74 on Tuesday. The company has a debt-to-equity ratio of 0.22, a quick ratio of 3.05 and a current ratio of 4.06. The company has a market capitalization of $14.96 billion, a price-to-earnings ratio of 14.89, a price-to-earnings-growth ratio of 1.97 and a beta of 0.98. The company’s 50-day simple moving average is $272.03 and its two-hundred day simple moving average is $276.16. Snap-on Incorporated has a one year low of $249.84 and a one year high of $298.49.

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

Snap-on Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Monday, August 19th will be given a $1.86 dividend. This represents a $7.44 dividend on an annualized basis and a dividend yield of 2.62%. The ex-dividend date is Monday, August 19th. Snap-on’s payout ratio is currently 39.03%.

Snap-on announced that its board has approved a share 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 generally a sign that the company’s leadership believes its shares are undervalued.

Insider Transactions at Snap-on

In other news, CEO Nicholas T. Pinchuk sold 24,145 shares of Snap-on stock in a transaction that occurred 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 approximately $204,138,160.05. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, VP June C. Lemerand sold 1,186 shares of Snap-on stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $283.97, for a total value of $336,788.42. Following the completion of the sale, the vice president now directly owns 2,283 shares in the company, valued at approximately $648,303.51. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Nicholas T. Pinchuk sold 24,145 shares of Snap-on stock in a transaction that occurred 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 of the company’s stock, valued at $204,138,160.05. The disclosure for this sale can be found here. Insiders have sold a total of 29,804 shares of company stock valued at $8,077,390 in the last 90 days. 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.