Lindenwold Advisors INC Purchases 3,277 Shares of Snap-on Incorporated (NYSE:SNA)

Lindenwold Advisors INC increased its holdings in Snap-on Incorporated (NYSE:SNA) by 71.1% in the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 7,885 shares of the company’s stock after purchasing an additional 3,277 shares during the period. Snap-on makes up about 1.2% of Lindenwold Advisors INC’s holdings, making the stock its 27th biggest holding. Lindenwold Advisors INC’s holdings in Snap-on were worth $2,284,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Opal Wealth Advisors LLC bought a new position in Snap-on in the second quarter worth about $30,000. Reston Wealth Management LLC bought a new position in Snap-on in the 3rd quarter valued at approximately $30,000. Innealta Capital LLC purchased a new stake in shares of Snap-on during the second quarter valued at $32,000. Massmutual Trust Co. FSB ADV boosted its holdings 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 valued at $37,000 after acquiring an additional 44 shares during the last quarter. Finally, Quarry LP grew its position in Snap-on by 244.7% in the 2nd quarter. Quarry LP now owns 162 shares of the company’s stock worth $42,000 after purchasing an additional 115 shares during the period. 84.88% of the stock is owned by institutional investors.

Snap-on Stock Up 0.2 %

NYSE:SNA opened at $357.64 on Tuesday. The firm has a market cap of $18.78 billion, a PE ratio of 18.41, a price-to-earnings-growth ratio of 2.36 and a beta of 0.96. The company has a 50-day moving average of $311.04 and a 200 day moving average of $285.83. 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 Incorporated has a 1-year low of $252.98 and a 1-year high of $365.35.

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

Snap-on Increases Dividend

The company also recently declared 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. This represents a $8.56 annualized dividend and a yield of 2.39%. The ex-dividend date of this dividend is Thursday, November 21st. This is an increase from Snap-on’s previous quarterly dividend of $1.86. Snap-on’s payout ratio is presently 38.29%.

Snap-on announced that its Board of Directors has approved a share repurchase program on Thursday, August 8th that permits the company to buyback $500.00 million in outstanding shares. This buyback authorization permits the company to reacquire up to 3.5% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board of directors believes its shares are undervalued.

Analyst Upgrades and Downgrades

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

Insider Transactions at Snap-on

In other Snap-on news, VP Iain Boyd sold 6,044 shares of Snap-on stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $298.99, for a total transaction of $1,807,095.56. Following the completion of the transaction, the vice president now owns 10,493 shares in the company, valued at approximately $3,137,302.07. This trade represents a 36.55 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Aldo John Pagliari sold 4,473 shares of the firm’s stock in a transaction dated Thursday, August 22nd. The stock was sold at an average price of $278.74, for a total value of $1,246,804.02. Following the sale, the chief financial officer now directly owns 99,244 shares in the company, valued at approximately $27,663,272.56. This trade represents a 4.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 26,190 shares of company stock worth $8,212,284 over the last three months. 4.10% of the stock is currently owned by insiders.

About Snap-on

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.