Eastern Bank bought a new position in shares of Snap-on Incorporated (NYSE:SNA – Free Report) in the third quarter, HoldingsChannel reports. The firm bought 2,250 shares of the company’s stock, valued at approximately $652,000.
Several other institutional investors also recently bought and sold shares of SNA. Renasant Bank boosted its holdings in shares of Snap-on by 2.3% during the 1st quarter. Renasant Bank now owns 1,592 shares of the company’s stock valued at $472,000 after purchasing an additional 36 shares during the last quarter. TFB Advisors LLC grew its holdings in Snap-on by 3.2% during the 2nd quarter. TFB Advisors LLC now owns 1,226 shares of the company’s stock valued at $320,000 after buying an additional 38 shares in the last quarter. Financial Advocates Investment Management grew its holdings in Snap-on by 1.2% during the 2nd quarter. Financial Advocates Investment Management now owns 3,360 shares of the company’s stock valued at $878,000 after buying an additional 39 shares in the last quarter. Ritholtz Wealth Management increased its stake in Snap-on by 4.0% in the 2nd quarter. Ritholtz Wealth Management now owns 1,013 shares of the company’s stock worth $265,000 after acquiring an additional 39 shares during the last quarter. Finally, Mount Yale Investment Advisors LLC raised its holdings in shares of Snap-on by 2.1% during the 2nd quarter. Mount Yale Investment Advisors LLC now owns 1,920 shares of the company’s stock worth $502,000 after acquiring an additional 39 shares in the last quarter. 84.88% of the stock is owned by hedge funds and other institutional investors.
Insider Buying and Selling
In other Snap-on news, CFO Aldo John Pagliari sold 4,473 shares of the stock in a transaction on Thursday, August 22nd. The stock was sold at an average price of $278.74, for a total value of $1,246,804.02. Following the sale, the chief financial officer now owns 99,244 shares in the company, valued at $27,663,272.56. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Snap-on news, CFO Aldo John Pagliari sold 4,473 shares of the company’s stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $278.74, for a total value of $1,246,804.02. Following the transaction, the chief financial officer now directly owns 99,244 shares in the company, valued at $27,663,272.56. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, 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 transaction of $577,500.00. Following the sale, the vice president now directly owns 3,218 shares of the company’s stock, valued at $1,061,940. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 37,598 shares of company stock valued at $10,461,986. Insiders own 4.10% of the company’s stock.
Wall Street Analyst Weigh In
Check Out Our Latest Stock Analysis on Snap-on
Snap-on Stock Performance
Shares of NYSE:SNA opened at $325.25 on Thursday. The company has a current ratio of 4.18, a quick ratio of 3.05 and a debt-to-equity ratio of 0.22. Snap-on Incorporated has a 12 month low of $249.84 and a 12 month high of $330.51. The company has a market capitalization of $17.15 billion, a price-to-earnings ratio of 17.06, a PEG ratio of 2.26 and a beta of 0.98. The firm’s 50-day moving average is $287.40 and its 200 day moving average is $277.35.
Snap-on announced that its board has authorized a stock repurchase plan on Thursday, August 8th that permits the company to repurchase $500.00 million in shares. This repurchase authorization permits the company to repurchase up to 3.5% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.
Snap-on Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders 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 annualized dividend and a dividend yield of 2.29%. Snap-on’s payout ratio is 39.03%.
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.
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