526 Shares in Snap-on Incorporated (NYSE:SNA) Bought by Abich Financial Wealth Management LLC

Abich Financial Wealth Management LLC purchased a new stake in Snap-on Incorporated (NYSE:SNA) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund purchased 526 shares of the company’s stock, valued at approximately $152,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in SNA. Opal Wealth Advisors LLC acquired a new stake in shares of Snap-on in the second quarter valued at about $30,000. Innealta Capital LLC acquired a new position in shares of Snap-on during the 2nd quarter worth approximately $32,000. Massmutual Trust Co. FSB ADV raised its stake in shares of Snap-on by 53.0% during the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 127 shares of the company’s stock worth $37,000 after purchasing an additional 44 shares in the last quarter. Quarry LP grew its stake in shares of Snap-on by 244.7% in the second quarter. Quarry LP now owns 162 shares of the company’s stock valued at $42,000 after buying an additional 115 shares in the last quarter. Finally, Versant Capital Management Inc increased its holdings in Snap-on by 529.0% during the second quarter. Versant Capital Management Inc now owns 195 shares of the company’s stock worth $51,000 after buying an additional 164 shares during the last quarter. 84.88% of the stock is owned by institutional investors.

Snap-on Stock Performance

NYSE:SNA traded down $0.73 during mid-day trading on Tuesday, hitting $331.86. 31,522 shares of the stock were exchanged, compared to its average volume of 303,582. The company has a debt-to-equity ratio of 0.22, a quick ratio of 3.14 and a current ratio of 4.18. The firm’s 50-day simple moving average is $290.50 and its 200 day simple moving average is $277.99. Snap-on Incorporated has a fifty-two week low of $252.21 and a fifty-two week high of $334.39. The stock has a market capitalization of $17.43 billion, a price-to-earnings ratio of 17.12, a price-to-earnings-growth ratio of 2.16 and a beta of 0.98.

Snap-on announced that its board has authorized a stock repurchase program on Thursday, August 8th that allows the company to buyback $500.00 million in shares. This buyback authorization allows the company to repurchase up to 3.5% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board of directors believes its shares are undervalued.

Snap-on Dividend Announcement

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

Insider Buying and Selling

In other Snap-on news, VP Richard Thomas Miller sold 1,750 shares of the business’s stock in a transaction dated Friday, October 18th. The shares were sold at an average price of $330.00, for a total value of $577,500.00. Following the completion of the sale, the vice president now owns 3,218 shares of the company’s stock, valued at $1,061,940. 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 the SEC website. In related news, VP Iain Boyd sold 6,044 shares of the company’s stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $298.99, for a total transaction of $1,807,095.56. Following the completion of the sale, the vice president now owns 10,493 shares of the company’s stock, valued at $3,137,302.07. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP Richard Thomas Miller sold 1,750 shares of the business’s stock in a transaction that occurred on Friday, October 18th. The shares were sold at an average price of $330.00, for a total transaction of $577,500.00. Following the completion of the transaction, the vice president now owns 3,218 shares of the company’s stock, valued at $1,061,940. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 37,598 shares of company stock valued at $10,461,986. 4.10% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on SNA shares. Tigress Financial lifted 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. Roth Mkm upped their price objective on Snap-on from $324.00 to $365.00 and gave the company a “buy” rating in a research note on Tuesday, October 22nd. Robert W. Baird lifted their target price on Snap-on from $290.00 to $347.00 and gave the stock a “neutral” rating in a research note on Friday, October 18th. Barrington Research raised their price target on Snap-on from $325.00 to $350.00 and gave the company an “outperform” rating in a report on Thursday, October 17th. Finally, 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. One research 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 MarketBeat.com, the stock has an average rating of “Hold” and an average 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.