F M Investments LLC Sells 656 Shares of Snap-on Incorporated (NYSE:SNA)

F M Investments LLC lowered its holdings in shares of Snap-on Incorporated (NYSE:SNA) by 10.3% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 5,725 shares of the company’s stock after selling 656 shares during the period. F M Investments LLC’s holdings in Snap-on were worth $1,657,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Mawer Investment Management Ltd. lifted its stake in shares of Snap-on by 234.7% in the second quarter. Mawer Investment Management Ltd. now owns 632,226 shares of the company’s stock worth $165,258,000 after acquiring an additional 443,333 shares during the period. Pacer Advisors Inc. raised its holdings in Snap-on by 51.2% during the 2nd quarter. Pacer Advisors Inc. now owns 829,471 shares of the company’s stock worth $216,815,000 after purchasing an additional 280,997 shares during the last quarter. Millennium Management LLC lifted its position 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 worth $42,130,000 after purchasing an additional 152,631 shares during the period. International Assets Investment Management LLC boosted its stake in shares of Snap-on by 34,381.0% in the 3rd quarter. International Assets Investment Management LLC now owns 130,338 shares of the company’s stock valued at $37,760,000 after purchasing an additional 129,960 shares during the last quarter. Finally, Glassman Wealth Services acquired a new stake in shares of Snap-on during the second quarter worth $26,608,000. Institutional investors and hedge funds own 84.88% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on SNA shares. Tigress Financial boosted their target price on shares of Snap-on from $336.00 to $385.00 and gave the company a “buy” rating in a report on Friday, October 25th. Barrington Research raised their target price on Snap-on from $325.00 to $350.00 and gave the stock an “outperform” rating in a research note on Thursday, October 17th. Robert W. Baird boosted their price target on Snap-on from $290.00 to $347.00 and gave the company a “neutral” rating in a research note on Friday, October 18th. Roth Mkm raised their price objective on shares of Snap-on from $324.00 to $365.00 and gave the stock a “buy” rating in a research report on Tuesday, October 22nd. Finally, Bank of America boosted their target price 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. One equities research 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. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $345.40.

Insider Buying and Selling at Snap-on

In other news, CEO Nicholas T. Pinchuk sold 24,145 shares of the 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 completion of the sale, the chief executive officer now owns 759,019 shares in the company, valued at $204,138,160.05. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, CEO Nicholas T. Pinchuk sold 24,145 shares of the 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 completion of the transaction, the chief executive officer now owns 759,019 shares in the company, valued at approximately $204,138,160.05. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Aldo John Pagliari sold 4,473 shares of the stock in a transaction that occurred on Thursday, August 22nd. The shares were sold at an average price of $278.74, for a total transaction of $1,246,804.02. Following the transaction, the chief financial officer now directly owns 99,244 shares of the company’s stock, valued at $27,663,272.56. This represents 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 50,335 shares of company stock worth $14,706,082. Corporate insiders own 4.10% of the company’s stock.

Snap-on Stock Up 0.0 %

Shares of NYSE:SNA opened at $330.29 on Friday. The firm has a market cap of $17.34 billion, a P/E ratio of 17.00, a PEG ratio of 2.18 and a beta of 0.96. Snap-on Incorporated has a 52-week low of $252.98 and a 52-week high of $337.72. The business’s 50 day simple moving average is $294.73 and its two-hundred day simple moving average is $279.35. The company has a debt-to-equity ratio of 0.22, a quick ratio of 3.14 and a current ratio of 4.18.

Snap-on Dividend Announcement

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

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