Cozad Asset Management Inc. Lowers Holdings in Snap-on Incorporated (NYSE:SNA)

Cozad Asset Management Inc. cut its position in Snap-on Incorporated (NYSE:SNA) by 14.3% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 8,026 shares of the company’s stock after selling 1,334 shares during the quarter. Cozad Asset Management Inc.’s holdings in Snap-on were worth $2,325,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the company. Foster & Motley Inc. raised its position in Snap-on by 7.3% in the 3rd quarter. Foster & Motley Inc. now owns 20,786 shares of the company’s stock worth $6,022,000 after buying an additional 1,421 shares during the last quarter. Radnor Capital Management LLC bought a new position in Snap-on in the third quarter worth approximately $478,000. Crestwood Advisors Group LLC lifted its position in Snap-on by 1.0% during the third quarter. Crestwood Advisors Group LLC now owns 3,759 shares of the company’s stock valued at $1,089,000 after purchasing an additional 38 shares in the last quarter. Asset Management One Co. Ltd. lifted its position in shares of Snap-on by 0.3% during the 3rd quarter. Asset Management One Co. Ltd. now owns 19,896 shares of the company’s stock valued at $5,764,000 after buying an additional 67 shares in the last quarter. Finally, National Pension Service lifted its holdings in Snap-on by 4.3% during the third quarter. National Pension Service now owns 113,516 shares of the company’s stock valued at $32,887,000 after purchasing an additional 4,710 shares in the last quarter. 84.88% of the stock is currently owned by hedge funds and other institutional investors.

Snap-on Stock Performance

Shares of Snap-on stock opened at $354.24 on Thursday. The company has a 50-day simple moving average of $298.21 and a two-hundred day simple moving average of $280.76. 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 Incorporated has a one year low of $252.98 and a one year high of $355.56. The company has a market capitalization of $18.60 billion, a PE ratio of 18.23, a P/E/G ratio of 2.19 and a beta of 0.96.

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

Analyst Ratings Changes

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

Insider Activity at Snap-on

In related news, SVP Thomas J. Ward sold 12,737 shares of the business’s stock in a transaction on 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 transaction, the senior vice president now directly owns 55,401 shares in the company, valued at $18,460,167.21. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Snap-on news, VP Richard Thomas Miller sold 1,750 shares of the firm’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 transaction of $577,500.00. Following the completion of the transaction, the vice president now directly owns 3,218 shares of the company’s stock, valued at approximately $1,061,940. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Thomas J. Ward sold 12,737 shares of the firm’s stock in a transaction on 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 transaction, the senior vice president now directly owns 55,401 shares of the company’s stock, valued at approximately $18,460,167.21. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 50,335 shares of company stock valued at $14,706,082 over the last 90 days. Insiders own 4.10% of the company’s stock.

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.