United Capital Management of KS Inc. Takes Position in Snap-on Incorporated (NYSE:SNA)

United Capital Management of KS Inc. acquired a new position in Snap-on Incorporated (NYSE:SNA) in the 3rd quarter, Holdings Channel reports. The institutional investor acquired 13,906 shares of the company’s stock, valued at approximately $4,029,000.

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 in the 2nd quarter valued at about $30,000. Reston Wealth Management LLC bought a new position in Snap-on in the third quarter valued at approximately $30,000. Innealta Capital LLC acquired a new stake in Snap-on during the 2nd quarter worth $32,000. Massmutual Trust Co. FSB ADV raised its position 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 lifted its stake in shares of Snap-on by 244.7% in the 2nd quarter. Quarry LP now owns 162 shares of the company’s stock valued at $42,000 after purchasing an additional 115 shares during the period. Institutional investors and hedge funds own 84.88% of the company’s stock.

Insider Activity at Snap-on

In other Snap-on news, CFO Aldo John Pagliari sold 4,473 shares of the firm’s stock in a transaction that occurred 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 trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Snap-on news, SVP Thomas J. Ward sold 12,737 shares of Snap-on stock in a transaction dated 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 in the company, valued at $18,460,167.21. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Aldo John Pagliari sold 4,473 shares of the business’s stock in a transaction dated 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 of the company’s stock, valued at $27,663,272.56. 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 26,190 shares of company stock worth $8,212,284. Insiders own 4.10% of the company’s stock.

Snap-on Price Performance

Shares of NYSE SNA opened at $359.27 on Monday. The company has a quick ratio of 3.14, a current ratio of 4.18 and a debt-to-equity ratio of 0.22. The business’s 50 day moving average price is $301.16 and its two-hundred day moving average price is $282.03. The company has a market cap of $18.87 billion, a PE ratio of 18.49, a price-to-earnings-growth ratio of 2.38 and a beta of 0.96. Snap-on Incorporated has a twelve month low of $252.98 and a twelve month high of $360.41.

Snap-on (NYSE:SNA) last posted its earnings results on Thursday, October 17th. The company reported $4.70 earnings per share 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 analyst estimates of $1.16 billion. On average, analysts predict that Snap-on Incorporated will post 19.05 EPS for the current year.

Snap-on announced that its Board of Directors has initiated a stock repurchase plan on Thursday, August 8th that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the company to purchase up to 3.5% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s management believes its stock is undervalued.

Snap-on Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Thursday, November 21st will be paid a dividend of $2.14 per share. This represents a $8.56 dividend on an annualized basis and a dividend yield of 2.38%. The ex-dividend date is Thursday, November 21st. This is a boost from Snap-on’s previous quarterly dividend of $1.86. Snap-on’s dividend payout ratio (DPR) is currently 38.29%.

Analyst Ratings Changes

A number of equities research analysts recently commented on the company. Tigress Financial upped their price objective on Snap-on from $336.00 to $385.00 and gave the company a “buy” rating in a report on Friday, October 25th. Robert W. Baird upped their price target on 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 lifted their price objective on shares of Snap-on from $325.00 to $350.00 and gave the stock an “outperform” rating in a research note on Thursday, October 17th. Roth Mkm upped their target price on shares of Snap-on from $324.00 to $365.00 and gave the company a “buy” rating in a research note on Tuesday, October 22nd. Finally, 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 report on Friday, October 18th. One analyst has rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price 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.