Private Advisor Group LLC Increases Stock Holdings in Snap-on Incorporated (NYSE:SNA)

Private Advisor Group LLC increased its holdings in Snap-on Incorporated (NYSE:SNA) by 1.5% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 9,649 shares of the company’s stock after purchasing an additional 142 shares during the quarter. Private Advisor Group LLC’s holdings in Snap-on were worth $2,795,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in SNA. Manning & Napier Advisors LLC purchased a new stake in shares of Snap-on in the second quarter valued at about $4,571,000. SG Americas Securities LLC raised its position in shares of Snap-on by 32.7% during the 2nd quarter. SG Americas Securities LLC now owns 13,140 shares of the company’s stock worth $3,435,000 after purchasing an additional 3,238 shares during the last quarter. Strategic Financial Concepts LLC purchased a new stake in Snap-on in the 2nd quarter valued at approximately $3,653,000. LSV Asset Management grew its holdings in Snap-on by 0.5% during the 1st quarter. LSV Asset Management now owns 674,341 shares of the company’s stock valued at $199,753,000 after buying an additional 3,535 shares during the last quarter. Finally, Empirical Finance LLC increased its position in Snap-on by 105.5% during the second quarter. Empirical Finance LLC now owns 3,994 shares of the company’s stock worth $1,044,000 after buying an additional 2,050 shares in the last quarter. 84.88% of the stock is owned by institutional investors and hedge funds.

Snap-on Trading Up 1.9 %

NYSE SNA opened at $332.69 on Tuesday. The company has a market cap of $17.47 billion, a P/E ratio of 17.12, a P/E/G ratio of 2.16 and a beta of 0.98. Snap-on Incorporated has a 12 month low of $252.21 and a 12 month high of $334.39. 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 company has a 50-day moving average of $290.50 and a 200-day moving average of $277.99.

Snap-on declared that its board has authorized a stock 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 stock through open market purchases. Stock buyback plans are generally a sign that the company’s management believes its stock is undervalued.

Snap-on Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Monday, August 19th were paid a dividend of $1.86 per share. This represents a $7.44 dividend on an annualized basis and a yield of 2.24%. The ex-dividend date of this dividend was Monday, August 19th. Snap-on’s dividend payout ratio is currently 38.29%.

Insider Buying and Selling at Snap-on

In other news, CEO Nicholas T. Pinchuk sold 24,145 shares of the company’s stock in a transaction 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 directly owns 759,019 shares in the company, valued at $204,138,160.05. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. In other news, CEO Nicholas T. Pinchuk sold 24,145 shares of Snap-on stock in a transaction dated 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 transaction, the chief executive officer now directly owns 759,019 shares of the company’s stock, valued at $204,138,160.05. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, VP Iain Boyd sold 6,044 shares of the stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $298.99, for a total transaction of $1,807,095.56. Following the sale, the vice president now directly owns 10,493 shares of the company’s stock, valued at approximately $3,137,302.07. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 37,598 shares of company stock worth $10,461,986 in the last quarter. 4.10% of the stock is owned by insiders.

Analysts Set New Price Targets

SNA has been the topic of several recent research reports. Tigress Financial upped their price objective on Snap-on from $336.00 to $385.00 and gave the company a “buy” rating in a research report on Friday. Bank of America raised their price target on shares of Snap-on from $255.00 to $280.00 and gave the stock an “underperform” rating in a research note on Friday, October 18th. Barrington Research boosted their price objective on shares of 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 raised their target price on shares of Snap-on from $324.00 to $365.00 and gave the stock a “buy” rating in a research report on Tuesday, October 22nd. Finally, Robert W. Baird lifted their target price on shares of Snap-on from $290.00 to $347.00 and gave the stock a “neutral” rating in a research note on Friday, October 18th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $345.40.

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.