Vontobel Holding Ltd. Raises Stake in Snap-on Incorporated (NYSE:SNA)

Vontobel Holding Ltd. increased its position in Snap-on Incorporated (NYSE:SNA) by 116.3% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,968 shares of the company’s stock after buying an additional 1,058 shares during the period. Vontobel Holding Ltd.’s holdings in Snap-on were worth $570,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of SNA. Renasant Bank lifted its stake in shares of Snap-on by 2.3% during the 1st quarter. Renasant Bank now owns 1,592 shares of the company’s stock worth $472,000 after purchasing an additional 36 shares during the period. TFB Advisors LLC lifted its position in Snap-on by 3.2% during the second quarter. TFB Advisors LLC now owns 1,226 shares of the company’s stock worth $320,000 after buying an additional 38 shares during the period. Financial Advocates Investment Management boosted its stake in Snap-on by 1.2% in the 2nd quarter. Financial Advocates Investment Management now owns 3,360 shares of the company’s stock worth $878,000 after buying an additional 39 shares during the last quarter. Ritholtz Wealth Management increased its stake in shares of Snap-on by 4.0% during the 2nd quarter. Ritholtz Wealth Management now owns 1,013 shares of the company’s stock valued at $265,000 after acquiring an additional 39 shares during the last quarter. Finally, Mount Yale Investment Advisors LLC lifted its holdings in shares of Snap-on by 2.1% during the 2nd quarter. Mount Yale Investment Advisors LLC now owns 1,920 shares of the company’s stock worth $502,000 after acquiring an additional 39 shares during the period. Hedge funds and other institutional investors own 84.88% of the company’s stock.

Wall Street Analyst Weigh In

SNA has been the subject of a number of recent analyst reports. Barrington Research boosted their target price on shares of Snap-on from $325.00 to $350.00 and gave the company an “outperform” rating in a report on Thursday, October 17th. Roth Mkm reaffirmed a “buy” rating and issued a $324.00 target price on shares of Snap-on in a research report on Tuesday, July 16th. Robert W. Baird boosted their price target on Snap-on from $290.00 to $347.00 and gave the company a “neutral” rating in a research report on Friday. Bank of America raised their price objective on Snap-on from $255.00 to $280.00 and gave the stock an “underperform” rating in a report on Friday. Finally, Tigress Financial reiterated a “buy” rating and set a $336.00 target price on shares of Snap-on in a report on Thursday, July 25th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $327.40.

Insider Buying and Selling at Snap-on

In other news, VP June C. Lemerand sold 1,186 shares of the company’s stock in a transaction on Monday, August 26th. The shares were sold at an average price of $283.97, for a total value of $336,788.42. Following the completion of the transaction, the vice president now directly owns 2,283 shares in the company, valued at approximately $648,303.51. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Snap-on news, CEO Nicholas T. Pinchuk sold 24,145 shares of Snap-on stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $268.95, for a total transaction of $6,493,797.75. Following the sale, the chief executive officer now directly owns 759,019 shares in the company, valued at $204,138,160.05. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP June C. Lemerand sold 1,186 shares of the stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $283.97, for a total value of $336,788.42. Following the transaction, the vice president now owns 2,283 shares of the company’s stock, valued at approximately $648,303.51. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 37,598 shares of company stock valued at $10,461,986 over the last 90 days. 4.10% of the stock is owned by corporate insiders.

Snap-on Trading Down 0.0 %

NYSE:SNA opened at $325.99 on Tuesday. The business’s 50-day moving average is $285.34 and its two-hundred day moving average is $276.79. The firm has a market capitalization of $17.17 billion, a PE ratio of 16.78, a price-to-earnings-growth ratio of 2.26 and a beta of 0.98. Snap-on Incorporated has a 12 month low of $249.84 and a 12 month high of $330.51. The company has a debt-to-equity ratio of 0.22, a current ratio of 4.18 and a quick ratio of 3.05.

Snap-on Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Monday, August 19th were given a dividend of $1.86 per share. This represents a $7.44 annualized dividend and a yield of 2.28%. The ex-dividend date of this dividend was Monday, August 19th. Snap-on’s dividend payout ratio (DPR) is presently 38.29%.

Snap-on declared that its Board of Directors has authorized a stock buyback program on Thursday, August 8th that authorizes the company to buyback $500.00 million in shares. This buyback authorization authorizes the company to purchase up to 3.5% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s board of directors believes its shares are undervalued.

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.