DekaBank Deutsche Girozentrale Purchases 1,455 Shares of Snap-on Incorporated (NYSE:SNA)

DekaBank Deutsche Girozentrale raised its position in Snap-on Incorporated (NYSE:SNA) by 0.4% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 415,921 shares of the company’s stock after buying an additional 1,455 shares during the period. DekaBank Deutsche Girozentrale’s holdings in Snap-on were worth $119,368,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of the business. Opal Wealth Advisors LLC bought a new position in shares of Snap-on during the 2nd quarter valued at approximately $30,000. Innealta Capital LLC bought a new position in Snap-on during the second quarter valued at $32,000. Massmutual Trust Co. FSB ADV increased its position in Snap-on by 53.0% in the third quarter. Massmutual Trust Co. FSB ADV now owns 127 shares of the company’s stock worth $37,000 after buying an additional 44 shares during the last quarter. Quarry LP raised 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 during the period. Finally, Versant Capital Management Inc lifted its position in shares of Snap-on by 529.0% during the 2nd quarter. Versant Capital Management Inc now owns 195 shares of the company’s stock valued at $51,000 after buying an additional 164 shares during the last quarter. 84.88% of the stock is currently owned by institutional investors.

Snap-on Stock Performance

Shares of SNA opened at $326.58 on Friday. Snap-on Incorporated has a 12-month low of $250.30 and a 12-month high of $330.51. The company has a current ratio of 4.18, a quick ratio of 3.14 and a debt-to-equity ratio of 0.22. The company has a market cap of $17.15 billion, a PE ratio of 16.81, a price-to-earnings-growth ratio of 2.14 and a beta of 0.98. The stock has a 50-day moving average price of $289.40 and a 200-day moving average price of $277.80.

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

Snap-on Announces Dividend

The business also recently announced 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. The ex-dividend date was Monday, August 19th. This represents a $7.44 annualized dividend and a yield of 2.28%. Snap-on’s payout ratio is presently 38.29%.

Insider Buying and Selling

In other Snap-on news, CEO Nicholas T. Pinchuk sold 24,145 shares of the firm’s stock in a transaction dated 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 owns 759,019 shares in the company, valued at $204,138,160.05. This trade 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 at this hyperlink. In related news, CFO Aldo John Pagliari sold 4,473 shares of the business’s stock in a transaction that occurred on Thursday, August 22nd. The stock was sold at an average price of $278.74, for a total value of $1,246,804.02. Following the completion of the sale, the chief financial officer now owns 99,244 shares in the company, valued at $27,663,272.56. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Nicholas T. Pinchuk sold 24,145 shares of the stock in a transaction that occurred on 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 owns 759,019 shares in the company, valued at $204,138,160.05. 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 ninety days, insiders sold 37,598 shares of company stock worth $10,461,986. Corporate insiders own 4.10% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on SNA shares. Robert W. Baird upped 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. Tigress Financial increased their price target on shares of Snap-on from $336.00 to $385.00 and gave the stock a “buy” rating in a report on Friday. Bank of America raised their price objective on shares of Snap-on from $255.00 to $280.00 and gave the company an “underperform” rating in a research report on Friday, October 18th. Roth Mkm upped their target price on shares of Snap-on from $324.00 to $365.00 and gave the stock a “buy” rating in a report on Tuesday, October 22nd. Finally, Barrington Research raised their price target 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 investment analyst has rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, Snap-on currently has an average rating of “Hold” and an average target price of $345.40.

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.