Tempus Wealth Planning LLC Purchases 166 Shares of Snap-on Incorporated (NYSE:SNA)

Tempus Wealth Planning LLC lifted its position in shares of Snap-on Incorporated (NYSE:SNA) by 8.0% during the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 2,238 shares of the company’s stock after buying an additional 166 shares during the quarter. Tempus Wealth Planning LLC’s holdings in Snap-on were worth $648,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of SNA. Opal Wealth Advisors LLC bought a new stake in Snap-on during the second quarter valued at about $30,000. Innealta Capital LLC bought a new stake in Snap-on during the 2nd quarter valued at approximately $32,000. Massmutual Trust Co. FSB ADV lifted its holdings in Snap-on by 53.0% in 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 lifted its holdings in Snap-on by 244.7% in the 2nd quarter. Quarry LP now owns 162 shares of the company’s stock worth $42,000 after purchasing an additional 115 shares in the last quarter. Finally, Versant Capital Management Inc boosted its stake in Snap-on by 529.0% in the 2nd quarter. Versant Capital Management Inc now owns 195 shares of the company’s stock worth $51,000 after purchasing an additional 164 shares during the period. Institutional investors own 84.88% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently issued reports on SNA. Tigress Financial reiterated a “buy” rating and set a $336.00 price objective on shares of Snap-on in a research report on Thursday, July 25th. Roth Mkm lifted their price target on shares of Snap-on from $324.00 to $365.00 and gave the company a “buy” rating in a report on Tuesday. Robert W. Baird increased their price objective on shares of Snap-on from $290.00 to $347.00 and gave the company a “neutral” rating in a report on Friday, October 18th. Barrington Research lifted their target price on Snap-on from $325.00 to $350.00 and gave the stock an “outperform” rating in a report on Thursday, October 17th. Finally, Bank of America boosted their target price on Snap-on from $255.00 to $280.00 and gave the stock an “underperform” rating in a research report on Friday, October 18th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, Snap-on currently has an average rating of “Hold” and an average price target of $335.60.

Insider Activity at Snap-on

In other Snap-on news, CEO Nicholas T. Pinchuk sold 24,145 shares of the business’s stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $268.95, for a total transaction of $6,493,797.75. Following the sale, the chief executive officer now directly owns 759,019 shares of the company’s stock, valued at $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 available through this link. In other news, CEO Nicholas T. Pinchuk sold 24,145 shares of Snap-on stock in a transaction that occurred on Monday, August 12th. The stock was 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 in the company, valued at approximately $204,138,160.05. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed 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 value of $577,500.00. Following the transaction, the vice president now directly owns 3,218 shares in the company, valued at approximately $1,061,940. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 37,598 shares of company stock valued at $10,461,986. Insiders own 4.10% of the company’s stock.

Snap-on Price Performance

Snap-on stock opened at $323.31 on Wednesday. Snap-on Incorporated has a 52-week low of $249.84 and a 52-week high of $330.51. The company has a market cap of $17.03 billion, a price-to-earnings ratio of 16.64, a PEG ratio of 2.26 and a beta of 0.98. The firm’s fifty day moving average is $286.36 and its 200 day moving average is $277.01. The company has a quick ratio of 3.05, a current ratio of 4.18 and a debt-to-equity ratio of 0.22.

Snap-on Announces Dividend

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 dividend of $1.86 per share. This represents a $7.44 annualized dividend and a dividend yield of 2.30%. The ex-dividend date was Monday, August 19th. Snap-on’s dividend payout ratio is 38.29%.

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

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.