Waldron Private Wealth LLC Makes New Investment in Snap-on Incorporated (NYSE:SNA)

Waldron Private Wealth LLC acquired a new stake in shares of Snap-on Incorporated (NYSE:SNA) during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 715 shares of the company’s stock, valued at approximately $207,000.

A number of other institutional investors have also made changes to their positions in the company. Earnest Partners LLC increased its stake in Snap-on by 1.4% during the 2nd quarter. Earnest Partners LLC now owns 942,743 shares of the company’s stock worth $246,424,000 after buying an additional 13,033 shares during the period. Nordea Investment Management AB grew its stake in shares of Snap-on by 3.2% during the first quarter. Nordea Investment Management AB now owns 891,994 shares of the company’s stock valued at $265,217,000 after acquiring an additional 27,429 shares in the last quarter. Pacer Advisors Inc. increased its position in shares of Snap-on by 51.2% during the second quarter. Pacer Advisors Inc. now owns 829,471 shares of the company’s stock worth $216,815,000 after acquiring an additional 280,997 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of Snap-on by 8.7% in the second quarter. Dimensional Fund Advisors LP now owns 817,536 shares of the company’s stock worth $213,686,000 after acquiring an additional 65,485 shares in the last quarter. Finally, Envestnet Asset Management Inc. boosted its holdings in Snap-on by 0.4% in the second quarter. Envestnet Asset Management Inc. now owns 732,571 shares of the company’s stock valued at $191,487,000 after purchasing an additional 2,616 shares during the last quarter. 84.88% of the stock is owned by institutional investors and hedge funds.

Snap-on Stock Up 0.6 %

SNA stock opened at $325.25 on Thursday. The firm has a fifty day moving average price of $287.40 and a two-hundred day moving average price of $277.35. The company has a debt-to-equity ratio of 0.22, a current ratio of 4.18 and a quick ratio of 3.05. Snap-on Incorporated has a 1-year low of $249.84 and a 1-year high of $330.51. The firm has a market cap of $17.15 billion, a price-to-earnings ratio of 17.06, a PEG ratio of 2.26 and a beta of 0.98.

Snap-on Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Monday, August 19th were paid a dividend of $1.86 per share. The ex-dividend date was Monday, August 19th. This represents a $7.44 annualized dividend and a yield of 2.29%. Snap-on’s dividend payout ratio (DPR) is 39.03%.

Snap-on announced that its board has authorized a share 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 usually an indication that the company’s management believes its stock is undervalued.

Wall Street Analysts Forecast Growth

SNA has been the topic of several analyst reports. Roth Mkm lifted their price objective on Snap-on from $324.00 to $365.00 and gave the stock a “buy” rating in a report on Tuesday. Barrington Research upped 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. Bank of America raised their price objective on shares of Snap-on from $255.00 to $280.00 and gave the stock an “underperform” rating in a report on Friday, October 18th. 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 research note on Friday, October 18th. Finally, Tigress Financial reiterated a “buy” rating and issued a $336.00 price target on shares of Snap-on in a research note on Thursday, July 25th. One investment 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.com, the company currently has an average rating of “Hold” and an average price target of $335.60.

Insider Buying and Selling at Snap-on

In other news, CEO Nicholas T. Pinchuk sold 24,145 shares of the 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 sale, 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Snap-on 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 value of $6,493,797.75. Following the sale, the chief executive officer now directly owns 759,019 shares of the company’s stock, valued at $204,138,160.05. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, VP Richard Thomas Miller sold 1,750 shares of the firm’s stock in a transaction 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 completion of the sale, the vice president now owns 3,218 shares in the company, valued at $1,061,940. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 37,598 shares of company stock worth $10,461,986 over the last ninety days. 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.