Captrust Financial Advisors Increases Position in Snap-on Incorporated (NYSE:SNA)

Captrust Financial Advisors boosted its stake in shares of Snap-on Incorporated (NYSE:SNA) by 3.5% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 8,738 shares of the company’s stock after purchasing an additional 297 shares during the quarter. Captrust Financial Advisors’ holdings in Snap-on were worth $2,532,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Centric Wealth Management lifted its stake in shares of Snap-on by 2.7% during the third quarter. Centric Wealth Management now owns 8,404 shares of the company’s stock valued at $2,435,000 after buying an additional 221 shares during the period. Isthmus Partners LLC bought a new position in shares of Snap-on in the 3rd quarter worth about $336,000. Public Sector Pension Investment Board lifted its position in shares of Snap-on by 14.8% in the 3rd quarter. Public Sector Pension Investment Board now owns 2,329 shares of the company’s stock worth $675,000 after buying an additional 300 shares during the last quarter. FORA Capital LLC boosted its stake in Snap-on by 5.1% during the 3rd quarter. FORA Capital LLC now owns 7,255 shares of the company’s stock valued at $2,102,000 after purchasing an additional 350 shares during the period. Finally, CreativeOne Wealth LLC boosted its stake in Snap-on by 82.9% during the 3rd quarter. CreativeOne Wealth LLC now owns 3,033 shares of the company’s stock valued at $879,000 after purchasing an additional 1,375 shares during the period. 84.88% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, VP June C. Lemerand sold 3,500 shares of Snap-on stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $362.86, for a total value of $1,270,010.00. Following the sale, the vice president now directly owns 2,289 shares in the company, valued at $830,586.54. This trade represents a 60.46 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Iain Boyd sold 6,044 shares of Snap-on stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $298.99, for a total transaction of $1,807,095.56. Following the completion of the sale, the vice president now owns 10,493 shares in the company, valued at $3,137,302.07. This trade represents a 36.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 24,031 shares of company stock valued at $7,898,701. 4.10% of the stock is currently owned by insiders.

Snap-on Trading Down 0.4 %

Shares of SNA stock opened at $361.36 on Friday. Snap-on Incorporated has a 52-week low of $252.98 and a 52-week high of $373.89. The stock has a market cap of $18.98 billion, a price-to-earnings ratio of 18.60, a P/E/G ratio of 2.41 and a beta of 0.98. The company has a debt-to-equity ratio of 0.22, a quick ratio of 3.14 and a current ratio of 4.18. The firm has a fifty day moving average of $332.69 and a 200-day moving average of $293.62.

Snap-on (NYSE:SNA) last announced its earnings results on Thursday, October 17th. The company reported $4.70 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.58 by $0.12. The business had revenue of $1.15 billion during the quarter, compared to analysts’ expectations of $1.16 billion. Snap-on had a net margin of 22.13% and a return on equity of 19.44%. On average, equities research analysts forecast that Snap-on Incorporated will post 19.05 earnings per share for the current fiscal year.

Snap-on declared that its board has authorized a stock repurchase plan on Thursday, August 8th that permits the company to repurchase $500.00 million in shares. This repurchase authorization permits the company to repurchase up to 3.5% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s management believes its shares are undervalued.

Snap-on Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Thursday, November 21st will be issued a dividend of $2.14 per share. The ex-dividend date of this dividend is Thursday, November 21st. This represents a $8.56 dividend on an annualized basis and a yield of 2.37%. This is a positive change from Snap-on’s previous quarterly dividend of $1.86. Snap-on’s dividend payout ratio is currently 44.06%.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. Roth Mkm upped their price target on shares of Snap-on from $324.00 to $365.00 and gave the stock a “buy” rating in a research note on Tuesday, October 22nd. Barrington Research upped their price objective on shares of Snap-on from $325.00 to $350.00 and gave the company an “outperform” rating in a research note on Thursday, October 17th. Tigress Financial boosted their target price on shares of Snap-on from $336.00 to $385.00 and gave the stock a “buy” rating in a research report on Friday, October 25th. Robert W. Baird upped their price objective 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. Finally, Bank of America upped their target price on shares of Snap-on from $255.00 to $280.00 and gave the company an “underperform” rating in a research note 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 company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus 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.