Hamlin Capital Management LLC Buys 49,082 Shares of Snap-on Incorporated (NYSE:SNA)

Hamlin Capital Management LLC increased its position in shares of Snap-on Incorporated (NYSE:SNA) by 10.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 499,406 shares of the company’s stock after purchasing an additional 49,082 shares during the quarter. Snap-on accounts for approximately 3.6% of Hamlin Capital Management LLC’s investment portfolio, making the stock its 18th largest position. Hamlin Capital Management LLC’s holdings in Snap-on were worth $144,683,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the company. Opal Wealth Advisors LLC bought a new stake in shares of Snap-on during the 2nd quarter worth approximately $30,000. Innealta Capital LLC acquired a new stake in shares of Snap-on in the 2nd quarter valued at $32,000. Massmutual Trust Co. FSB ADV increased its stake in shares of Snap-on by 53.0% in the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 127 shares of the company’s stock valued at $37,000 after purchasing an additional 44 shares during the last quarter. Quarry LP raised its holdings in shares of Snap-on by 244.7% during the 2nd quarter. Quarry LP now owns 162 shares of the company’s stock worth $42,000 after buying an additional 115 shares in the last quarter. Finally, Fidelis Capital Partners LLC bought a new stake in shares of Snap-on during the 1st quarter worth $56,000. 84.88% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

SNA has been the subject of several research analyst reports. Tigress Financial boosted their target price on Snap-on from $336.00 to $385.00 and gave the stock a “buy” rating in a research note on Friday. Bank of America increased their price objective 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. Robert W. Baird boosted their target price on shares of Snap-on from $290.00 to $347.00 and gave the stock a “neutral” rating in a research note on Friday, October 18th. 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 report on Tuesday, October 22nd. Finally, Barrington Research raised their price objective on Snap-on from $325.00 to $350.00 and gave the company an “outperform” rating in a report on Thursday, October 17th. One 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. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $345.40.

Snap-on Trading Up 0.3 %

SNA opened at $326.58 on Friday. The company’s 50 day moving average price is $289.40 and its two-hundred day moving average price is $277.80. The firm has a market capitalization of $17.15 billion, a price-to-earnings ratio of 16.81, a PEG ratio of 2.14 and a beta of 0.98. Snap-on Incorporated has a fifty-two week low of $250.30 and a fifty-two week high of $330.51. The company has a debt-to-equity ratio of 0.22, a current ratio of 4.18 and a quick ratio of 3.14.

Snap-on Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Monday, August 19th were issued a $1.86 dividend. The ex-dividend date was Monday, August 19th. This represents a $7.44 dividend on an annualized basis and a yield of 2.28%. Snap-on’s payout ratio is 38.29%.

Snap-on declared that its board has authorized a stock buyback program on Thursday, August 8th that allows the company to repurchase $500.00 million in shares. This repurchase authorization allows the company to purchase up to 3.5% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s management believes its stock is undervalued.

Insider Buying and Selling

In other Snap-on news, CEO Nicholas T. Pinchuk sold 24,145 shares of the company’s 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 sale, the chief executive officer now owns 759,019 shares in the company, valued at approximately $204,138,160.05. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other news, CFO Aldo John Pagliari sold 4,473 shares of the stock in a transaction 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 completion of the sale, the chief financial officer now directly owns 99,244 shares in the company, valued at $27,663,272.56. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Nicholas T. Pinchuk sold 24,145 shares of the business’s stock in a transaction on 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. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 37,598 shares of company stock valued at $10,461,986 in the last three months. Insiders own 4.10% of the company’s stock.

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.