1,455 Shares of Snap-On Incorporated $SNA Acquired by StoneX Group Inc.

StoneX Group Inc. acquired a new position in Snap-On Incorporated (NYSE:SNA) during the third quarter, HoldingsChannel.com reports. The institutional investor acquired 1,455 shares of the company’s stock, valued at approximately $555,000.

Several other hedge funds have also recently bought and sold shares of SNA. Parallel Advisors LLC increased its stake in shares of Snap-On by 14.3% in the third quarter. Parallel Advisors LLC now owns 849 shares of the company’s stock valued at $308,000 after purchasing an additional 106 shares during the period. Guidance Capital Inc. raised its holdings in shares of Snap-On by 1.9% during the third quarter. Guidance Capital Inc. now owns 3,575 shares of the company’s stock valued at $1,305,000 after buying an additional 65 shares during the last quarter. Asset Dedication LLC raised its holdings in shares of Snap-On by 15.5% during the third quarter. Asset Dedication LLC now owns 620 shares of the company’s stock valued at $225,000 after buying an additional 83 shares during the last quarter. Alps Advisors Inc. boosted its position in shares of Snap-On by 8.1% during the third quarter. Alps Advisors Inc. now owns 83,752 shares of the company’s stock worth $30,431,000 after buying an additional 6,252 shares during the period. Finally, Ashton Thomas Private Wealth LLC boosted its position in shares of Snap-On by 7.8% during the third quarter. Ashton Thomas Private Wealth LLC now owns 1,329 shares of the company’s stock worth $483,000 after buying an additional 96 shares during the period. 84.88% of the stock is currently owned by institutional investors.

Snap-On Trading Up 0.4%

Shares of SNA stock opened at $374.74 on Thursday. The stock has a 50-day simple moving average of $368.00 and a 200 day simple moving average of $380.30. The stock has a market capitalization of $19.33 billion, a P/E ratio of 19.49, a P/E/G ratio of 2.66 and a beta of 0.75. Snap-On Incorporated has a fifty-two week low of $320.80 and a fifty-two week high of $423.02. The company has a quick ratio of 2.71, a current ratio of 3.55 and a debt-to-equity ratio of 0.14.

Snap-On (NYSE:SNA) last issued its quarterly earnings results on Thursday, October 22nd. The company reported $4.64 EPS for the quarter, missing the consensus estimate of $4.93 by ($0.29). Snap-On had a return on equity of 16.77% and a net margin of 20.82%. The business had revenue of $1.18 billion during the quarter, compared to the consensus estimate of $1.24 billion. During the same quarter last year, the firm posted $4.71 earnings per share. Snap-On’s revenue was down .6% compared to the same quarter last year. On average, sell-side analysts expect that Snap-On Incorporated will post 19.24 earnings per share for the current fiscal year.

Snap-On Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 10th. Stockholders of record on Friday, November 20th will be paid a $2.75 dividend. The ex-dividend date of this dividend is Friday, November 20th. This represents a $11.00 annualized dividend and a dividend yield of 2.9%. This is an increase from Snap-On’s previous quarterly dividend of $2.44. Snap-On’s dividend payout ratio is presently 50.75%.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the company. Weiss Ratings lowered Snap-On from a “buy (b)” rating to a “buy (b-)” rating in a report on Friday, October 30th. Barclays lowered their target price on Snap-On from $435.00 to $405.00 and set an “overweight” rating on the stock in a research report on Monday, October 26th. Tigress Financial lifted their target price on Snap-On from $445.00 to $485.00 and gave the company a “buy” rating in a research note on Friday, July 31st. Roth Capital reiterated a “buy” rating and set a $461.00 price target (up from $409.00) on shares of Snap-On in a research report on Friday, July 24th. Finally, Robert W. Baird set a $385.00 price target on Snap-On in a research note on Friday, October 23rd. Four investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $434.00.

Insider Activity at Snap-On

In related news, CEO Nicholas T. Pinchuk sold 22,889 shares of the stock in a transaction that occurred on Tuesday, August 18th. The shares were sold at an average price of $399.69, for a total transaction of $9,148,504.41. Following the completion of the sale, the chief executive officer directly owned 867,779 shares of the company’s stock, valued at $346,842,588.51. This represents a 2.57% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Marty V. Ozolins sold 800 shares of the stock in a transaction that occurred on Wednesday, August 26th. The shares were sold at an average price of $400.00, for a total transaction of $320,000.00. Following the sale, the vice president directly owned 1,526 shares of the company’s stock, valued at approximately $610,400. This represents a 34.39% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 3.80% of the company’s stock.

About Snap-On

Snap-on Incorporated develops, manufactures and markets tools, equipment, diagnostics and information systems for professional users. Its offerings include hand and power tools, tool storage, vehicle diagnostic equipment, shop equipment, repair information and software, and related products and services. The company serves customers in vehicle repair and other industries, including aviation, aerospace, agriculture, construction and manufacturing. Its products and services reach customers in the United States and international markets.