Snap-on Incorporated (NYSE:SNA) Shares Sold by Forum Financial Management LP

Forum Financial Management LP cut its stake in shares of Snap-on Incorporated (NYSE:SNA) by 5.3% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,541 shares of the company’s stock after selling 87 shares during the quarter. Forum Financial Management LP’s holdings in Snap-on were worth $446,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. First Trust Direct Indexing L.P. lifted its stake in Snap-on by 15.2% during the first quarter. First Trust Direct Indexing L.P. now owns 1,085 shares of the company’s stock worth $321,000 after purchasing an additional 143 shares during the last quarter. Norden Group LLC lifted its stake in Snap-on by 10.3% during the first quarter. Norden Group LLC now owns 1,922 shares of the company’s stock worth $569,000 after purchasing an additional 180 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its stake in Snap-on by 56.0% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 31,339 shares of the company’s stock worth $8,735,000 after purchasing an additional 11,254 shares during the last quarter. BNP Paribas Financial Markets lifted its stake in Snap-on by 10.5% during the first quarter. BNP Paribas Financial Markets now owns 29,725 shares of the company’s stock worth $8,805,000 after purchasing an additional 2,831 shares during the last quarter. Finally, Janney Montgomery Scott LLC lifted its stake in Snap-on by 4.5% during the first quarter. Janney Montgomery Scott LLC now owns 26,078 shares of the company’s stock worth $7,725,000 after purchasing an additional 1,120 shares during the last quarter. 84.88% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the company. Tigress Financial boosted their target price on Snap-on from $336.00 to $385.00 and gave the stock a “buy” rating in a research note on Friday, October 25th. Robert W. Baird boosted their price objective on Snap-on from $290.00 to $347.00 and gave the company a “neutral” rating in a research note on Friday, October 18th. Barrington Research boosted their price objective on Snap-on from $325.00 to $350.00 and gave the company an “outperform” rating in a research note on Thursday, October 17th. Bank of America boosted their price objective on Snap-on from $255.00 to $280.00 and gave the company an “underperform” rating in a research note on Friday, October 18th. Finally, Roth Mkm upped their price target on Snap-on from $324.00 to $365.00 and gave the stock a “buy” rating in a research note on Tuesday, October 22nd. One research analyst has rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $345.40.

Insider Transactions at Snap-on

In related news, SVP Thomas J. Ward sold 12,737 shares of Snap-on stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $333.21, for a total transaction of $4,244,095.77. Following the completion of the sale, the senior vice president now owns 55,401 shares in the company, valued at approximately $18,460,167.21. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Snap-on news, SVP Thomas J. Ward sold 12,737 shares of Snap-on stock in a transaction that occurred 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 directly owns 55,401 shares of the company’s stock, valued at approximately $18,460,167.21. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Nicholas T. Pinchuk sold 24,145 shares of the business’s stock in a transaction 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 owns 759,019 shares of the company’s stock, valued at $204,138,160.05. This trade represents 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 over the last three months. 4.10% of the stock is currently owned by insiders.

Snap-on Stock Performance

Shares of SNA opened at $331.04 on Tuesday. The company has a 50-day moving average of $294.73 and a two-hundred day moving average of $279.30. The stock has a market cap of $17.38 billion, a P/E ratio of 17.04, a PEG ratio of 2.19 and a beta of 0.96. Snap-on Incorporated has a 12-month low of $252.98 and a 12-month high of $337.72. The company has a current ratio of 4.18, a quick ratio of 3.14 and a debt-to-equity ratio of 0.22.

Snap-on Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Monday, August 19th were given a dividend of $1.86 per share. This represents a $7.44 annualized dividend and a yield of 2.25%. The ex-dividend date was Monday, August 19th. Snap-on’s payout ratio is 38.29%.

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

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.