Snap-on Incorporated (NYSE:SNA) Shares Purchased by Foster & Motley Inc.

Foster & Motley Inc. raised its holdings in Snap-on Incorporated (NYSE:SNA) by 7.3% in the third quarter, Holdings Channel reports. The fund owned 20,786 shares of the company’s stock after buying an additional 1,421 shares during the period. Foster & Motley Inc.’s holdings in Snap-on were worth $6,022,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes 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 worth $246,424,000 after purchasing an additional 13,033 shares during the period. Pacer Advisors Inc. raised its position in shares of Snap-on by 51.2% during the 2nd quarter. Pacer Advisors Inc. now owns 829,471 shares of the company’s stock worth $216,815,000 after acquiring an additional 280,997 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Snap-on by 8.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 817,536 shares of the company’s stock worth $213,686,000 after buying an additional 65,485 shares during the last quarter. Envestnet Asset Management Inc. lifted its position 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 last quarter. Finally, LSV Asset Management boosted its position in shares of Snap-on by 0.5% in the 1st quarter. LSV Asset Management now owns 674,341 shares of the company’s stock valued at $199,753,000 after purchasing an additional 3,535 shares during the period. Hedge funds and other institutional investors own 84.88% of the company’s stock.

Snap-on Price Performance

NYSE SNA opened at $336.99 on Wednesday. The company’s 50 day simple moving average is $296.73 and its 200 day simple moving average is $280.25. The firm has a market capitalization of $17.70 billion, a PE ratio of 17.20, a P/E/G ratio of 2.19 and a beta of 0.96. Snap-on Incorporated has a 12 month low of $252.98 and a 12 month high of $337.72. 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 declared that its board has approved a share buyback program on Thursday, August 8th that allows the company to buyback $500.00 million in shares. This buyback authorization allows the company to repurchase up to 3.5% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board of directors believes its stock is undervalued.

Snap-on Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders 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 dividend yield of 2.21%. Snap-on’s payout ratio is currently 38.29%.

Insider Activity at Snap-on

In other Snap-on news, CEO Nicholas T. Pinchuk sold 24,145 shares of the 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 transaction, the chief executive officer now directly owns 759,019 shares of the company’s stock, valued at $204,138,160.05. 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. In other Snap-on news, CEO Nicholas T. Pinchuk sold 24,145 shares of the stock in a transaction 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 directly owns 759,019 shares in the company, valued at $204,138,160.05. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal 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 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 of the company’s stock, valued at approximately $18,460,167.21. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 50,335 shares of company stock valued at $14,706,082. Corporate insiders own 4.10% of the company’s stock.

Wall Street Analyst Weigh In

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

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.