Snap-on Incorporated (NYSE:SNA) Shares Sold by Concurrent Investment Advisors LLC

Concurrent Investment Advisors LLC lowered its position in Snap-on Incorporated (NYSE:SNA) by 0.2% during the third quarter, Holdings Channel.com reports. The fund owned 15,263 shares of the company’s stock after selling 34 shares during the quarter. Concurrent Investment Advisors LLC’s holdings in Snap-on were worth $4,422,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in SNA. Opal Wealth Advisors LLC acquired a new position in shares of Snap-on in the 2nd quarter valued at about $30,000. Reston Wealth Management LLC purchased a new position in Snap-on in the third quarter valued at approximately $30,000. Innealta Capital LLC acquired a new position in Snap-on during the second quarter valued at approximately $32,000. Massmutual Trust Co. FSB ADV grew its stake in Snap-on by 53.0% during 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 period. Finally, Quarry LP increased its position in shares of Snap-on by 244.7% in the second quarter. Quarry LP now owns 162 shares of the company’s stock worth $42,000 after acquiring an additional 115 shares in the last quarter. Hedge funds and other institutional investors own 84.88% of the company’s stock.

Snap-on Trading Up 6.0 %

Shares of SNA opened at $354.24 on Thursday. Snap-on Incorporated has a one year low of $252.98 and a one year high of $355.56. The stock has a 50-day moving average price of $298.21 and a 200 day moving average price 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. The company has a market capitalization of $18.60 billion, a P/E 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 authorized a share buyback plan on Thursday, August 8th that permits the company to repurchase $500.00 million in shares. This repurchase authorization permits the company to purchase up to 3.5% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s management believes its shares are undervalued.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on SNA. Robert W. Baird lifted their target price 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 upped their target price on Snap-on from $325.00 to $350.00 and gave the stock an “outperform” rating in a research report on Thursday, October 17th. Tigress Financial increased their target price on Snap-on from $336.00 to $385.00 and gave the company a “buy” rating in a research note on Friday, October 25th. Bank of America upped their price target on Snap-on from $255.00 to $280.00 and gave the stock an “underperform” rating in a report on Friday, October 18th. Finally, Roth Mkm lifted their price objective on shares of Snap-on from $324.00 to $365.00 and gave the company a “buy” rating in a research note on Tuesday, October 22nd. 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’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $345.40.

Insider Activity

In related news, SVP Thomas J. Ward sold 12,737 shares of Snap-on stock in a transaction on Monday, October 28th. The shares were sold at an average price of $333.21, for a total value of $4,244,095.77. Following the completion of the sale, the senior vice president now owns 55,401 shares in the company, valued at approximately $18,460,167.21. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, CEO Nicholas T. Pinchuk sold 24,145 shares of Snap-on stock in a transaction dated 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 directly owns 759,019 shares in the company, valued at approximately $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 Securities & Exchange Commission, which is accessible through this link. Also, SVP Thomas J. Ward sold 12,737 shares of the company’s stock in a transaction that occurred on Monday, October 28th. The shares were sold at an average price of $333.21, for a total value of $4,244,095.77. Following the sale, the senior vice president now owns 55,401 shares in the company, valued at $18,460,167.21. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 50,335 shares of company stock worth $14,706,082. 4.10% of the stock is currently owned by insiders.

Snap-on 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.