Foundations Investment Advisors LLC Acquires New Stake in Snap-on Incorporated (NYSE:SNA)

Foundations Investment Advisors LLC bought a new position in shares of Snap-on Incorporated (NYSE:SNA) during the 3rd quarter, HoldingsChannel.com reports. The institutional investor bought 752 shares of the company’s stock, valued at approximately $218,000.

A number of other large investors have also modified their holdings of SNA. Renasant Bank lifted its stake in shares of Snap-on by 2.3% in the first quarter. Renasant Bank now owns 1,592 shares of the company’s stock worth $472,000 after buying an additional 36 shares in the last quarter. TFB Advisors LLC lifted its stake in Snap-on by 3.2% in the 2nd quarter. TFB Advisors LLC now owns 1,226 shares of the company’s stock worth $320,000 after purchasing an additional 38 shares in the last quarter. Financial Advocates Investment Management boosted its holdings in shares of Snap-on by 1.2% during the 2nd quarter. Financial Advocates Investment Management now owns 3,360 shares of the company’s stock worth $878,000 after purchasing an additional 39 shares during the last quarter. Ritholtz Wealth Management grew its position in shares of Snap-on by 4.0% in the second quarter. Ritholtz Wealth Management now owns 1,013 shares of the company’s stock valued at $265,000 after purchasing an additional 39 shares in the last quarter. Finally, Mount Yale Investment Advisors LLC increased its holdings in shares of Snap-on by 2.1% in the second quarter. Mount Yale Investment Advisors LLC now owns 1,920 shares of the company’s stock valued at $502,000 after purchasing an additional 39 shares during the last quarter. Hedge funds and other institutional investors own 84.88% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have weighed in on the company. Tigress Financial boosted their price objective on Snap-on from $336.00 to $385.00 and gave the stock a “buy” rating in a research note on Friday. Bank of America upped their price objective on shares of Snap-on from $255.00 to $280.00 and gave the company an “underperform” rating in a report on Friday, October 18th. Barrington Research lifted their target price on shares of Snap-on from $325.00 to $350.00 and gave the stock an “outperform” rating in a research note on Thursday, October 17th. Roth Mkm increased their price target on shares of Snap-on from $324.00 to $365.00 and gave the company a “buy” rating in a research note on Tuesday, October 22nd. Finally, Robert W. Baird lifted their price target on shares of Snap-on from $290.00 to $347.00 and gave the company a “neutral” rating in a research report on Friday, October 18th. 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 stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $345.40.

Insider Activity at Snap-on

In other Snap-on news, VP Richard Thomas Miller sold 1,750 shares of the company’s stock in a transaction on Friday, October 18th. The stock was sold at an average price of $330.00, for a total transaction of $577,500.00. Following the transaction, the vice president now directly owns 3,218 shares in the company, valued at $1,061,940. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related 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 completion of the transaction, the chief executive officer now owns 759,019 shares in the company, valued at approximately $204,138,160.05. The trade was 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. Also, VP Richard Thomas Miller sold 1,750 shares of the stock in a transaction that occurred on Friday, October 18th. The stock was sold at an average price of $330.00, for a total transaction of $577,500.00. Following the sale, the vice president now owns 3,218 shares in the company, valued at approximately $1,061,940. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 37,598 shares of company stock worth $10,461,986. Insiders own 4.10% of the company’s stock.

Snap-on Trading Up 0.3 %

NYSE SNA opened at $326.58 on Friday. The company has a debt-to-equity ratio of 0.22, a current ratio of 4.18 and a quick ratio of 3.14. The stock has a market capitalization of $17.15 billion, a P/E ratio of 16.81, a PEG ratio of 2.14 and a beta of 0.98. The firm’s 50-day moving average is $289.40 and its two-hundred day moving average is $277.80. Snap-on Incorporated has a 12 month low of $250.30 and a 12 month high of $330.51.

Snap-on Announces Dividend

The business also recently disclosed 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 of this dividend was Monday, August 19th. This represents a $7.44 annualized dividend and a dividend yield of 2.28%. Snap-on’s dividend payout ratio is currently 38.29%.

Snap-on announced that its Board of Directors has initiated a stock repurchase plan on Thursday, August 8th that authorizes the company to repurchase $500.00 million in outstanding shares. This repurchase authorization authorizes the company to repurchase up to 3.5% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s management believes its shares are undervalued.

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.