Atria Investments Inc Sells 1,295 Shares of Snap-on Incorporated (NYSE:SNA)

Atria Investments Inc lessened its holdings in Snap-on Incorporated (NYSE:SNA) by 14.0% in the third quarter, Holdings Channel reports. The institutional investor owned 7,943 shares of the company’s stock after selling 1,295 shares during the period. Atria Investments Inc’s holdings in Snap-on were worth $2,301,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the business. Verdence Capital Advisors LLC raised its holdings in Snap-on by 2.5% in the 3rd quarter. Verdence Capital Advisors LLC now owns 1,526 shares of the company’s stock valued at $442,000 after buying an additional 37 shares during the last quarter. Townsend & Associates Inc raised its holdings in Snap-on by 3.1% in the 3rd quarter. Townsend & Associates Inc now owns 57,713 shares of the company’s stock valued at $16,720,000 after buying an additional 1,710 shares during the last quarter. CWA Asset Management Group LLC bought a new position in Snap-on in the 3rd quarter valued at approximately $1,175,000. Leavell Investment Management Inc. raised its holdings in Snap-on by 58.4% in the 3rd quarter. Leavell Investment Management Inc. now owns 2,440 shares of the company’s stock valued at $707,000 after buying an additional 900 shares during the last quarter. Finally, Summit Global Investments raised its holdings in Snap-on by 2.6% in the 3rd quarter. Summit Global Investments now owns 2,154 shares of the company’s stock valued at $624,000 after buying an additional 54 shares during the last quarter. Institutional investors own 84.88% of the company’s stock.

Snap-on Stock Performance

Shares of SNA stock opened at $357.79 on Friday. The company has a market cap of $18.79 billion, a price-to-earnings ratio of 18.41, a price-to-earnings-growth ratio of 2.38 and a beta of 0.96. Snap-on Incorporated has a 52 week low of $252.98 and a 52 week high of $365.35. The company has a quick ratio of 3.14, a current ratio of 4.18 and a debt-to-equity ratio of 0.22. The firm has a 50 day moving average of $307.70 and a 200-day moving average of $284.36.

Snap-on (NYSE:SNA) last announced its quarterly earnings data on Thursday, October 17th. The company reported $4.70 EPS for the quarter, topping the consensus estimate of $4.58 by $0.12. The company had revenue of $1.15 billion during the quarter, compared to the consensus estimate of $1.16 billion. Snap-on had a net margin of 22.13% and a return on equity of 19.44%. On average, equities analysts forecast that Snap-on Incorporated will post 19.05 earnings per share for the current year.

Snap-on Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Thursday, November 21st will be given a $2.14 dividend. The ex-dividend date is Thursday, November 21st. This represents a $8.56 annualized dividend and a yield of 2.39%. This is an increase from Snap-on’s previous quarterly dividend of $1.86. Snap-on’s dividend payout ratio (DPR) is presently 38.29%.

Snap-on declared that its board has initiated a share buyback program on Thursday, August 8th that permits the company to buyback $500.00 million in outstanding shares. This buyback authorization permits the company to repurchase up to 3.5% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on SNA shares. Tigress Financial raised their price target on shares of Snap-on from $336.00 to $385.00 and gave the stock a “buy” rating in a report on Friday, October 25th. 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 report on Friday, October 18th. Roth Mkm raised their price target on shares of Snap-on from $324.00 to $365.00 and gave the stock a “buy” rating in a report on Tuesday, October 22nd. Barrington Research raised their price target on shares of Snap-on from $325.00 to $350.00 and gave the stock an “outperform” rating in a report on Thursday, October 17th. Finally, Robert W. Baird raised their price target on shares of Snap-on from $290.00 to $347.00 and gave the stock a “neutral” rating in a report on Friday, October 18th. One analyst has rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $345.40.

Insider Activity at Snap-on

In related news, SVP Thomas J. Ward sold 12,737 shares of Snap-on stock in a transaction on Monday, October 28th. The shares were sold at an average price of $333.21, for a total value of $4,244,095.77. Following the completion of the sale, the senior vice president now owns 55,401 shares of the company’s stock, valued at approximately $18,460,167.21. This trade represents a 18.69 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Aldo John Pagliari sold 4,473 shares of Snap-on stock in a transaction on Thursday, August 22nd. The shares were sold at an average price of $278.74, for a total transaction of $1,246,804.02. Following the completion of the sale, the chief financial officer now directly owns 99,244 shares of the company’s stock, valued at approximately $27,663,272.56. The trade was a 4.31 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 26,190 shares of company stock valued at $8,212,284. 4.10% of the stock is owned by company insiders.

Snap-on 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.