Wealth Quarterback LLC Has $549,000 Stock Position in Snap-on Incorporated (NYSE:SNA)

Wealth Quarterback LLC cut its holdings in Snap-on Incorporated (NYSE:SNA) by 6.8% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,893 shares of the company’s stock after selling 139 shares during the quarter. Wealth Quarterback LLC’s holdings in Snap-on were worth $549,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Mawer Investment Management Ltd. grew its holdings in shares of Snap-on by 234.7% during the 2nd quarter. Mawer Investment Management Ltd. now owns 632,226 shares of the company’s stock valued at $165,258,000 after purchasing an additional 443,333 shares during the last quarter. Pacer Advisors Inc. increased its holdings in shares of Snap-on by 51.2% during the second quarter. Pacer Advisors Inc. now owns 829,471 shares of the company’s stock worth $216,815,000 after buying an additional 280,997 shares in the last quarter. Millennium Management LLC lifted its stake in shares of Snap-on by 1,786.4% in the 2nd quarter. Millennium Management LLC now owns 161,175 shares of the company’s stock valued at $42,130,000 after acquiring an additional 152,631 shares during the last quarter. International Assets Investment Management LLC boosted its holdings in shares of 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 acquiring an additional 129,960 shares in the last quarter. Finally, Glassman Wealth Services bought a new stake in Snap-on during the 2nd quarter worth $26,608,000. Institutional investors own 84.88% of the company’s stock.

Insider Activity

In other Snap-on news, CEO Nicholas T. Pinchuk sold 24,145 shares of Snap-on stock in a transaction dated 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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, CEO Nicholas T. Pinchuk sold 24,145 shares of Snap-on 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 completion of the transaction, the chief executive officer now directly owns 759,019 shares in the company, valued at approximately $204,138,160.05. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Aldo John Pagliari sold 4,473 shares of the business’s stock in a transaction on Thursday, August 22nd. The shares were sold at an average price of $278.74, for a total value of $1,246,804.02. Following the sale, the chief financial officer now owns 99,244 shares in the company, valued at approximately $27,663,272.56. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 50,335 shares of company stock valued at $14,706,082 in the last ninety days. 4.10% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of analysts have recently commented on SNA shares. Bank of America lifted their price target on Snap-on from $255.00 to $280.00 and gave the company an “underperform” rating in a research note on Friday, October 18th. Tigress Financial boosted their price objective on shares of Snap-on from $336.00 to $385.00 and gave the stock a “buy” rating in a research note on Friday, October 25th. Roth Mkm upped their price target on Snap-on from $324.00 to $365.00 and gave the company a “buy” rating in a research report on Tuesday, October 22nd. Robert W. Baird lifted their price objective on Snap-on from $290.00 to $347.00 and gave the stock a “neutral” rating in a research note on Friday, October 18th. Finally, Barrington Research boosted their target price on shares of Snap-on from $325.00 to $350.00 and gave the company an “outperform” rating in a report on Thursday, October 17th. One 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. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $345.40.

Snap-on Price Performance

Shares of NYSE SNA opened at $359.37 on Friday. The company has a market capitalization of $18.87 billion, a PE ratio of 18.50, a PEG ratio of 2.34 and a beta of 0.96. 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 stock’s 50 day moving average price is $301.16 and its 200-day moving average price is $281.90. Snap-on Incorporated has a twelve month low of $252.98 and a twelve month high of $360.41.

Snap-on declared that its board has approved a share repurchase plan on Thursday, August 8th that allows the company to buyback $500.00 million in shares. This buyback authorization allows the company to reacquire up to 3.5% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s board of directors believes its stock is undervalued.

Snap-on Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Thursday, November 21st will be paid a $2.14 dividend. This represents a $8.56 dividend on an annualized basis and a yield of 2.38%. The ex-dividend date is Thursday, November 21st. This is an increase from Snap-on’s previous quarterly dividend of $1.86. Snap-on’s dividend payout ratio is 38.29%.

About Snap-on

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.