Advisors Asset Management Inc. Has $3.62 Million Stock Holdings in Snap-on Incorporated (NYSE:SNA)

Advisors Asset Management Inc. lowered its position in shares of Snap-on Incorporated (NYSE:SNA) by 11.1% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 12,507 shares of the company’s stock after selling 1,564 shares during the quarter. Advisors Asset Management Inc.’s holdings in Snap-on were worth $3,623,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the company. Opal Wealth Advisors LLC bought a new position in shares of Snap-on during the second quarter worth $30,000. Reston Wealth Management LLC bought a new stake in Snap-on in the 3rd quarter valued at approximately $30,000. Innealta Capital LLC acquired a new position in Snap-on during the second quarter worth $32,000. Massmutual Trust Co. FSB ADV boosted its stake in shares of Snap-on by 53.0% during the 3rd 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 last quarter. Finally, Quarry LP grew its stake in Snap-on by 244.7% in the second quarter. Quarry LP now owns 162 shares of the company’s stock valued at $42,000 after purchasing an additional 115 shares in the last quarter. Institutional investors own 84.88% of the company’s stock.

Insider Buying and Selling at Snap-on

In other news, SVP Thomas J. Ward sold 12,737 shares of the firm’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 directly owns 55,401 shares in the company, valued at approximately $18,460,167.21. This trade represents a 18.69 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP June C. Lemerand sold 1,186 shares of Snap-on stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $283.97, for a total transaction of $336,788.42. Following the sale, the vice president now directly owns 2,283 shares in the company, valued at $648,303.51. This trade represents a 34.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 21,717 shares of company stock valued at $6,965,480. 4.10% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of equities analysts have weighed in on SNA shares. 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 research report on Friday, October 18th. Bank of America increased their target price on Snap-on from $255.00 to $280.00 and gave the stock an “underperform” rating in a research note on Friday, October 18th. Barrington Research upped 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. Tigress Financial lifted their target price on Snap-on from $336.00 to $385.00 and gave the stock a “buy” rating in a report on Friday, October 25th. Finally, Roth Mkm boosted their target price on shares of Snap-on from $324.00 to $365.00 and gave the company a “buy” rating in a research report on Tuesday, October 22nd. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $345.40.

Snap-on Trading Up 1.3 %

Shares of NYSE:SNA opened at $365.97 on Friday. The business’s 50 day simple moving average is $315.92 and its 200 day simple moving average is $287.44. Snap-on Incorporated has a 1 year low of $252.98 and a 1 year high of $367.12. The company has a debt-to-equity ratio of 0.22, a current ratio of 4.18 and a quick ratio of 3.14. The company has a market capitalization of $19.22 billion, a P/E ratio of 18.84, a P/E/G ratio of 2.35 and a beta of 0.96.

Snap-on (NYSE:SNA) last released its earnings results on Thursday, October 17th. The company reported $4.70 EPS for the quarter, beating the consensus estimate of $4.58 by $0.12. Snap-on had a net margin of 22.13% and a return on equity of 19.44%. The firm had revenue of $1.15 billion for the quarter, compared to analyst estimates of $1.16 billion. On average, research analysts anticipate that Snap-on Incorporated will post 19.05 EPS for the current fiscal year.

Snap-on declared that its Board of Directors has initiated a stock repurchase program on Thursday, August 8th that authorizes the company to buyback $500.00 million in shares. This buyback authorization authorizes the company to purchase up to 3.5% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board believes its shares are undervalued.

Snap-on Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Thursday, November 21st will be paid a dividend of $2.14 per share. The ex-dividend date is Thursday, November 21st. This is a boost from Snap-on’s previous quarterly dividend of $1.86. This represents a $8.56 annualized dividend and a yield of 2.34%. Snap-on’s dividend payout ratio is presently 38.29%.

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.