Snap-on Incorporated (NYSE:SNA) Shares Acquired by Larson Financial Group LLC

Larson Financial Group LLC grew its holdings in Snap-on Incorporated (NYSE:SNA) by 85.9% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,383 shares of the company’s stock after purchasing an additional 639 shares during the period. Larson Financial Group LLC’s holdings in Snap-on were worth $401,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Manning & Napier Advisors LLC acquired a new stake in Snap-on during the 2nd quarter worth about $4,571,000. Asset Management One Co. Ltd. increased its stake in shares of Snap-on by 0.3% during the 3rd quarter. Asset Management One Co. Ltd. now owns 19,896 shares of the company’s stock worth $5,764,000 after purchasing an additional 67 shares during the last quarter. SG Americas Securities LLC raised its holdings in shares of Snap-on by 32.7% during the 2nd quarter. SG Americas Securities LLC now owns 13,140 shares of the company’s stock valued at $3,435,000 after purchasing an additional 3,238 shares in the last quarter. Strategic Financial Concepts LLC acquired a new stake in shares of Snap-on in the 2nd quarter valued at $3,653,000. Finally, Victory Capital Management Inc. boosted its holdings in Snap-on by 21.5% in the third quarter. Victory Capital Management Inc. now owns 158,777 shares of the company’s stock worth $45,999,000 after purchasing an additional 28,049 shares in the last quarter. Institutional investors and hedge funds own 84.88% of the company’s stock.

Snap-on Stock Up 0.3 %

SNA stock opened at $371.61 on Wednesday. The business’s 50-day simple moving average is $319.42 and its 200 day simple moving average is $288.88. 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 company has a market cap of $19.51 billion, a PE ratio of 19.13, a price-to-earnings-growth ratio of 2.42 and a beta of 0.96. Snap-on Incorporated has a twelve month low of $252.98 and a twelve month high of $372.94.

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

Snap-on announced that its board has authorized a share buyback plan 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 shares through open market purchases. Shares buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.

Snap-on Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Thursday, November 21st will be issued a dividend of $2.14 per share. This represents a $8.56 dividend on an annualized basis and a dividend yield of 2.30%. This is an increase from Snap-on’s previous quarterly dividend of $1.86. The ex-dividend date is Thursday, November 21st. Snap-on’s dividend payout ratio (DPR) is presently 44.06%.

Insider Activity

In other news, VP Richard Thomas Miller sold 1,750 shares of the business’s stock in a transaction on Friday, October 18th. The shares were sold at an average price of $330.00, for a total value of $577,500.00. Following the sale, the vice president now owns 3,218 shares in the company, valued at approximately $1,061,940. The trade was a 35.23 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Iain Boyd sold 6,044 shares of the 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 sale, the vice president now owns 10,493 shares of the company’s stock, valued at $3,137,302.07. This trade represents a 36.55 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 20,531 shares of company stock worth $6,628,691. Corporate insiders own 4.10% of the company’s stock.

Analyst Upgrades and Downgrades

SNA has been the subject of a number of analyst reports. Barrington Research boosted their price target on Snap-on from $325.00 to $350.00 and gave the stock an “outperform” rating in a research report on Thursday, October 17th. Tigress Financial lifted their price objective on Snap-on from $336.00 to $385.00 and gave the stock a “buy” rating in a research note on Friday, October 25th. Bank of America boosted their price objective on Snap-on from $255.00 to $280.00 and gave the stock an “underperform” rating in a research report on Friday, October 18th. Robert W. Baird raised their target price on Snap-on from $290.00 to $347.00 and gave the company a “neutral” rating in a report on Friday, October 18th. Finally, Roth Mkm upped their price target on Snap-on from $324.00 to $365.00 and gave the stock a “buy” rating in a report 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, the stock currently has a consensus rating of “Hold” and a consensus price target of $345.40.

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.