Snap-on Incorporated (NYSE:SNA) Shares Purchased by Pathstone Holdings LLC

Pathstone Holdings LLC increased its stake in shares of Snap-on Incorporated (NYSE:SNA) by 5.5% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 5,606 shares of the company’s stock after purchasing an additional 291 shares during the quarter. Pathstone Holdings LLC’s holdings in Snap-on were worth $1,624,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. Price T Rowe Associates Inc. MD boosted its position in shares of Snap-on by 0.6% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 72,523 shares of the company’s stock worth $21,483,000 after purchasing an additional 419 shares in the last quarter. Kennedy Capital Management LLC purchased a new stake in shares of Snap-on in the first quarter valued at $203,000. B. Riley Wealth Advisors Inc. grew its holdings in shares of Snap-on by 66.5% during the first quarter. B. Riley Wealth Advisors Inc. now owns 3,665 shares of the company’s stock worth $1,086,000 after buying an additional 1,464 shares in the last quarter. Tidal Investments LLC raised its holdings in Snap-on by 10.2% in the 1st quarter. Tidal Investments LLC now owns 13,869 shares of the company’s stock valued at $4,110,000 after acquiring an additional 1,278 shares during the last quarter. Finally, Comerica Bank lifted its stake in shares of Snap-on by 0.5% during the 1st quarter. Comerica Bank now owns 21,002 shares of the company’s stock worth $6,221,000 after purchasing an additional 102 shares during the period. 84.88% of the stock is currently owned by institutional investors and hedge funds.

Snap-on Trading Down 0.6 %

Snap-on stock opened at $369.23 on Thursday. Snap-on Incorporated has a 52-week low of $252.98 and a 52-week high of $373.89. 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 market capitalization of $19.39 billion, a price-to-earnings ratio of 19.13, a PEG ratio of 2.45 and a beta of 0.96. The firm has a 50-day moving average price of $321.25 and a two-hundred day moving average price of $289.52.

Snap-on (NYSE:SNA) last issued its quarterly earnings results on Thursday, October 17th. The company reported $4.70 earnings per share for the quarter, topping analysts’ consensus estimates of $4.58 by $0.12. Snap-on had a net margin of 22.13% and a return on equity of 19.44%. The company had revenue of $1.15 billion during the quarter, compared to analyst estimates of $1.16 billion. Sell-side analysts expect that Snap-on Incorporated will post 19.05 earnings per share for the current year.

Snap-on declared that its Board of Directors has approved a share repurchase plan on Thursday, August 8th that permits the company to repurchase $500.00 million in outstanding shares. This repurchase authorization permits the company to reacquire 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 Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Thursday, November 21st will be issued a dividend of $2.14 per share. This represents a $8.56 dividend on an annualized basis and a yield of 2.32%. This is a boost from Snap-on’s previous quarterly dividend of $1.86. The ex-dividend date is Thursday, November 21st. Snap-on’s dividend payout ratio (DPR) is presently 44.06%.

Insiders Place Their Bets

In other Snap-on news, SVP Thomas J. Ward sold 12,737 shares of the business’s stock in a transaction on Monday, October 28th. The shares were sold at an average price of $333.21, for a total transaction of $4,244,095.77. Following the sale, the senior vice president now directly owns 55,401 shares of the company’s stock, valued at $18,460,167.21. The trade was a 18.69 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Iain Boyd sold 6,044 shares of the firm’s stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $298.99, for a total value of $1,807,095.56. Following the completion of 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 36.55 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 20,531 shares of company stock worth $6,628,691. 4.10% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the stock. Barrington Research upped their price objective on shares of Snap-on from $325.00 to $350.00 and gave the company an “outperform” rating in a research note on Thursday, October 17th. Robert W. Baird upped their price target on Snap-on from $290.00 to $347.00 and gave the stock a “neutral” rating in a report on Friday, October 18th. Roth Mkm lifted their price target on shares of Snap-on from $324.00 to $365.00 and gave the stock a “buy” rating in a research note on Tuesday, October 22nd. 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 research report on Friday, October 25th. Finally, Bank of America increased their target price on Snap-on from $255.00 to $280.00 and gave the stock an “underperform” rating in a report on Friday, October 18th. One research analyst has rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price 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.