Snap-on Incorporated (NYSE:SNA) Shares Bought by Financial Advocates Investment Management

Financial Advocates Investment Management raised its position in Snap-on Incorporated (NYSE:SNA) by 2.6% during the 3rd quarter, Holdings Channel.com reports. The firm owned 3,449 shares of the company’s stock after acquiring an additional 89 shares during the quarter. Financial Advocates Investment Management’s holdings in Snap-on were worth $999,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also made changes to their positions in the company. Earnest Partners LLC grew its holdings in shares of Snap-on by 1.4% during the 2nd quarter. Earnest Partners LLC now owns 942,743 shares of the company’s stock valued at $246,424,000 after acquiring an additional 13,033 shares in the last quarter. Nordea Investment Management AB raised its position in shares of Snap-on by 3.2% during the first quarter. Nordea Investment Management AB now owns 891,994 shares of the company’s stock valued at $265,217,000 after buying an additional 27,429 shares during the last quarter. Pacer Advisors Inc. raised its position in shares of Snap-on by 51.2% during the second quarter. Pacer Advisors Inc. now owns 829,471 shares of the company’s stock valued at $216,815,000 after buying an additional 280,997 shares during the last quarter. Dimensional Fund Advisors LP raised its position in shares of Snap-on by 8.7% during the second quarter. Dimensional Fund Advisors LP now owns 817,536 shares of the company’s stock valued at $213,686,000 after buying an additional 65,485 shares during the last quarter. Finally, Envestnet Asset Management Inc. increased its stake in Snap-on by 0.4% in the second quarter. Envestnet Asset Management Inc. now owns 732,571 shares of the company’s stock valued at $191,487,000 after acquiring an additional 2,616 shares during the period. Institutional investors and hedge funds own 84.88% of the company’s stock.

Snap-on Trading Up 0.0 %

Shares of Snap-on stock opened at $330.29 on Friday. The firm has a market capitalization of $17.34 billion, a PE ratio of 17.00, a price-to-earnings-growth ratio of 2.20 and a beta of 0.98. 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 firm’s 50 day moving average is $293.80 and its 200 day moving average is $279.04. Snap-on Incorporated has a 1 year low of $252.98 and a 1 year high of $337.72.

Snap-on Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Monday, August 19th were issued a dividend of $1.86 per share. This represents a $7.44 dividend on an annualized basis and a yield of 2.25%. The ex-dividend date of this dividend was Monday, August 19th. Snap-on’s payout ratio is 38.29%.

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

Analyst Ratings Changes

Several research firms have recently commented on SNA. Robert W. Baird increased their price target on shares of Snap-on from $290.00 to $347.00 and gave the company a “neutral” rating in a research note on Friday, October 18th. Barrington Research increased their price objective on shares of Snap-on from $325.00 to $350.00 and gave the stock an “outperform” rating in a research report on Thursday, October 17th. Bank of America increased their price objective on shares of Snap-on from $255.00 to $280.00 and gave the stock an “underperform” rating in a research report on Friday, October 18th. Roth Mkm increased 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, Tigress Financial raised their target price on shares of Snap-on from $336.00 to $385.00 and gave the company a “buy” rating in a research report on Friday, October 25th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $345.40.

Insider Transactions at Snap-on

In other news, CEO Nicholas T. Pinchuk sold 24,145 shares of the company’s stock in a transaction on 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 position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Snap-on news, SVP Thomas J. Ward sold 12,737 shares of the stock in a transaction that occurred on Monday, October 28th. The shares were 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. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Nicholas T. Pinchuk sold 24,145 shares of the firm’s stock in a transaction that occurred on 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 completion of the transaction, 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 position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 50,335 shares of company stock worth $14,706,082. Company insiders own 4.10% of the company’s stock.

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.