Snap-on Incorporated (NYSE:SNA) Shares Acquired by Lake Street Advisors Group LLC

Lake Street Advisors Group LLC lifted its stake in shares of Snap-on Incorporated (NYSE:SNA) by 3.1% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,074 shares of the company’s stock after purchasing an additional 32 shares during the period. Lake Street Advisors Group LLC’s holdings in Snap-on were worth $311,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the stock. Dumont & Blake Investment Advisors LLC acquired a new position in shares of Snap-on in the third quarter worth about $209,000. Ballentine Partners LLC lifted its position in shares of Snap-on by 13.9% in the 3rd quarter. Ballentine Partners LLC now owns 1,130 shares of the company’s stock valued at $327,000 after acquiring an additional 138 shares in the last quarter. Impact Partnership Wealth LLC acquired a new position in Snap-on in the 3rd quarter worth approximately $551,000. Hennion & Walsh Asset Management Inc. grew its position in Snap-on by 10.5% during the 3rd quarter. Hennion & Walsh Asset Management Inc. now owns 2,906 shares of the company’s stock worth $842,000 after purchasing an additional 276 shares in the last quarter. Finally, International Assets Investment Management LLC raised its stake in Snap-on by 34,381.0% during the 3rd quarter. International Assets Investment Management LLC now owns 130,338 shares of the company’s stock valued at $37,760,000 after purchasing an additional 129,960 shares during the period. 84.88% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on SNA. Bank of America raised their target price on Snap-on from $255.00 to $280.00 and gave the stock an “underperform” rating in a research report on Friday, October 18th. Barrington Research lifted their price objective on Snap-on from $325.00 to $350.00 and gave the company an “outperform” rating in a research report on Thursday, October 17th. Roth Mkm boosted their price target on Snap-on from $324.00 to $365.00 and gave the company a “buy” rating in a research note on Tuesday, October 22nd. Tigress Financial raised their price objective on shares of Snap-on from $336.00 to $385.00 and gave the company a “buy” rating in a research report on Friday. Finally, Robert W. Baird boosted their target price on shares of Snap-on from $290.00 to $347.00 and gave the stock a “neutral” rating in a research report on Friday, October 18th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $345.40.

Insider Transactions at Snap-on

In related news, VP June C. Lemerand sold 1,186 shares of Snap-on stock in a transaction 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 transaction, the vice president now owns 2,283 shares in the company, valued at $648,303.51. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other news, VP June C. Lemerand sold 1,186 shares of Snap-on stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $283.97, for a total value of $336,788.42. Following the transaction, the vice president now directly owns 2,283 shares in the company, valued at approximately $648,303.51. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Nicholas T. Pinchuk sold 24,145 shares of the 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 sale, the chief executive officer now owns 759,019 shares of the company’s stock, valued at approximately $204,138,160.05. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 37,598 shares of company stock worth $10,461,986. 4.10% of the stock is owned by insiders.

Snap-on Stock Performance

SNA opened at $326.58 on Friday. The stock has a 50-day moving average of $289.40 and a 200-day moving average of $277.80. The company has a debt-to-equity ratio of 0.22, a quick ratio of 3.14 and a current ratio of 4.18. Snap-on Incorporated has a 52-week low of $250.30 and a 52-week high of $330.51. The company has a market cap of $17.15 billion, a PE ratio of 16.81, a price-to-earnings-growth ratio of 2.14 and a beta of 0.98.

Snap-on Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Monday, August 19th were given a $1.86 dividend. This represents a $7.44 dividend on an annualized basis and a dividend yield of 2.28%. The ex-dividend date was Monday, August 19th. Snap-on’s dividend payout ratio is 38.29%.

Snap-on declared that its board has approved a stock buyback plan on Thursday, August 8th that authorizes the company to buyback $500.00 million in shares. This buyback authorization authorizes the company to purchase up to 3.5% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s board of directors believes its shares are undervalued.

Snap-on Company Profile

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.