CreativeOne Wealth LLC Boosts Stock Position in Snap-on Incorporated (NYSE:SNA)

CreativeOne Wealth LLC boosted its holdings in shares of Snap-on Incorporated (NYSE:SNA) by 82.9% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,033 shares of the company’s stock after purchasing an additional 1,375 shares during the quarter. CreativeOne Wealth LLC’s holdings in Snap-on were worth $879,000 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of SNA. Opal Wealth Advisors LLC purchased a new stake in shares of Snap-on during the 2nd quarter valued at about $30,000. Reston Wealth Management LLC purchased a new position in Snap-on in the third quarter worth about $30,000. Innealta Capital LLC bought a new stake in Snap-on during the second quarter worth approximately $32,000. Massmutual Trust Co. FSB ADV lifted 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 acquiring an additional 44 shares during the last quarter. Finally, Brooklyn Investment Group purchased a new position in Snap-on during the 3rd quarter valued at $39,000. Institutional investors own 84.88% of the company’s stock.

Snap-on Trading Up 0.2 %

NYSE SNA opened at $369.81 on Friday. Snap-on Incorporated has a one year low of $252.98 and a one year high of $373.89. The company has a debt-to-equity ratio of 0.22, a quick ratio of 3.14 and a current ratio of 4.18. The company has a market capitalization of $19.42 billion, a price-to-earnings ratio of 19.03, a price-to-earnings-growth ratio of 2.44 and a beta of 0.96. The company’s 50-day simple moving average is $324.68 and its two-hundred day simple moving average is $290.62.

Snap-on (NYSE:SNA) last issued its quarterly earnings data on Thursday, October 17th. The company reported $4.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.58 by $0.12. The company had revenue of $1.15 billion for the quarter, compared to analyst estimates of $1.16 billion. Snap-on had a net margin of 22.13% and a return on equity of 19.44%. Equities analysts forecast 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 buyback plan on Thursday, August 8th that allows the company to buyback $500.00 million in outstanding shares. This buyback authorization allows the company to purchase 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 business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Thursday, November 21st will be paid a dividend of $2.14 per share. This is a boost from Snap-on’s previous quarterly dividend of $1.86. This represents a $8.56 dividend on an annualized basis and a dividend yield of 2.31%. The ex-dividend date of this dividend is Thursday, November 21st. Snap-on’s dividend payout ratio is 44.06%.

Insider Buying and Selling at Snap-on

In other Snap-on news, VP Iain Boyd sold 6,044 shares of the firm’s stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $298.99, for a total value of $1,807,095.56. Following the completion of the sale, the vice president now directly owns 10,493 shares in the company, valued at $3,137,302.07. This trade represents a 36.55 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Thomas J. Ward sold 12,737 shares of the company’s stock in a transaction on Monday, October 28th. The stock was sold at an average price of $333.21, for a total value of $4,244,095.77. Following the transaction, the senior vice president now directly owns 55,401 shares in the company, valued at approximately $18,460,167.21. The trade was a 18.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 20,531 shares of company stock worth $6,628,691 over the last quarter. Insiders own 4.10% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently weighed in on SNA. Barrington Research lifted their target price on Snap-on from $325.00 to $350.00 and gave the stock an “outperform” rating in a research report 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 company an “underperform” rating in a report 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 note on Friday, October 25th. Roth Mkm lifted their price target 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, Robert W. Baird increased their price objective on Snap-on from $290.00 to $347.00 and gave the stock a “neutral” rating in a research note on Friday, October 18th. One investment 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’s stock. According to data from MarketBeat.com, Snap-on presently has a consensus rating of “Hold” and a consensus price target 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.