Weatherly Asset Management L. P. Acquires New Holdings in Snap-on Incorporated (NYSE:SNA)

Weatherly Asset Management L. P. purchased a new position in shares of Snap-on Incorporated (NYSE:SNA) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 747 shares of the company’s stock, valued at approximately $216,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in SNA. Opal Wealth Advisors LLC bought a new stake in shares of Snap-on during the 2nd quarter worth about $30,000. Reston Wealth Management LLC bought a new stake in shares of Snap-on during the 3rd quarter worth about $30,000. Innealta Capital LLC bought a new stake in shares of Snap-on during the 2nd quarter worth about $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 worth $37,000 after buying an additional 44 shares in the last quarter. Finally, Quarry LP raised its position 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. 84.88% of the stock is currently owned by institutional investors.

Snap-on Stock Performance

Snap-on stock opened at $330.29 on Friday. The firm’s 50 day simple moving average is $294.73 and its 200-day simple moving average is $279.35. The company has a market cap of $17.34 billion, a P/E ratio of 17.00, a price-to-earnings-growth ratio of 2.18 and a beta of 0.96. 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 fifty-two week low of $252.98 and a fifty-two week high of $337.72.

Snap-on Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Monday, August 19th were given a $1.86 dividend. This represents a $7.44 annualized dividend and a dividend yield of 2.25%. The ex-dividend date of this dividend was Monday, August 19th. Snap-on’s dividend payout ratio (DPR) is currently 38.29%.

Snap-on announced that its board has initiated a share buyback plan 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 stock through open market purchases. Stock repurchase plans are usually a sign that the company’s leadership believes its shares are undervalued.

Wall Street Analyst Weigh In

A number of analysts have commented on SNA shares. Roth Mkm boosted their price target on shares of Snap-on from $324.00 to $365.00 and gave the stock a “buy” rating in a research report on Tuesday, October 22nd. 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. Bank of America lifted their price objective 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. Robert W. Baird lifted their price objective 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. Finally, Tigress Financial lifted their price objective on shares of Snap-on from $336.00 to $385.00 and gave the stock a “buy” rating in a research note on Friday, October 25th. One 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 MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $345.40.

Insider Transactions at Snap-on

In related news, SVP Thomas J. Ward sold 12,737 shares of the business’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 transaction of $4,244,095.77. Following the transaction, the senior vice president now directly owns 55,401 shares of the company’s stock, valued at approximately $18,460,167.21. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, VP June C. Lemerand sold 1,186 shares of the business’s 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 transaction, the vice president now directly owns 2,283 shares of the company’s stock, valued at approximately $648,303.51. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP Thomas J. Ward sold 12,737 shares of the business’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 transaction of $4,244,095.77. Following the transaction, the senior vice president now directly owns 55,401 shares in the company, valued at $18,460,167.21. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 50,335 shares of company stock valued at $14,706,082 over the last ninety days. Corporate insiders own 4.10% of the company’s stock.

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.