Waterway Wealth Management LLC Invests $201,000 in Snap-on Incorporated (NYSE:SNA)

Waterway Wealth Management LLC bought a new stake in shares of Snap-on Incorporated (NYSE:SNA) during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 695 shares of the company’s stock, valued at approximately $201,000.

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

Wall Street Analysts Forecast Growth

A number of research analysts have commented on SNA shares. Robert W. Baird lifted their price objective on shares of Snap-on from $290.00 to $347.00 and gave the company a “neutral” rating in a research note on Friday. Tigress Financial reissued a “buy” rating and issued a $336.00 target price on shares of Snap-on in a research note on Thursday, July 25th. Barrington Research increased 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. Roth Mkm reaffirmed a “buy” rating and issued a $324.00 price target on shares of Snap-on in a report on Tuesday, July 16th. Finally, Bank of America increased their price objective on Snap-on from $255.00 to $280.00 and gave the stock an “underperform” rating in a report on Friday. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $327.40.

Snap-on Stock Performance

Shares of Snap-on stock opened at $325.99 on Tuesday. The firm has a fifty day moving average of $285.34 and a two-hundred day moving average of $276.79. The company has a debt-to-equity ratio of 0.22, a quick ratio of 3.05 and a current ratio of 4.18. The stock has a market capitalization of $17.17 billion, a price-to-earnings ratio of 16.78, a PEG ratio of 2.26 and a beta of 0.98. Snap-on Incorporated has a 52 week low of $249.84 and a 52 week high of $330.51.

Snap-on Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Monday, August 19th were paid a dividend of $1.86 per share. The ex-dividend date was Monday, August 19th. This represents a $7.44 annualized dividend and a dividend yield of 2.28%. Snap-on’s dividend payout ratio is presently 38.29%.

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

Insider Buying and Selling

In related news, VP Richard Thomas Miller sold 1,750 shares of the firm’s stock in a transaction on Friday, October 18th. The stock was sold at an average price of $330.00, for a total value of $577,500.00. Following the transaction, the vice president now owns 3,218 shares in the company, valued at approximately $1,061,940. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, CEO Nicholas T. Pinchuk sold 24,145 shares of the business’s stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $268.95, for a total transaction of $6,493,797.75. Following 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Richard Thomas Miller sold 1,750 shares of the business’s stock in a transaction on 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 in the company, valued at approximately $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. In 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 insiders.

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.