Benjamin F. Edwards & Company Inc. Acquires 509 Shares of Snap-on Incorporated (NYSE:SNA)

Benjamin F. Edwards & Company Inc. raised its position in Snap-on Incorporated (NYSE:SNA) by 0.3% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 151,481 shares of the company’s stock after purchasing an additional 509 shares during the period. Benjamin F. Edwards & Company Inc. owned 0.29% of Snap-on worth $39,596,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of SNA. Scarborough Advisors LLC bought a new position in Snap-on in the 4th quarter valued at $30,000. Opal Wealth Advisors LLC bought a new stake in shares of Snap-on during the 2nd quarter worth $30,000. Innealta Capital LLC bought a new stake in shares of Snap-on during the 2nd quarter worth $32,000. Versant Capital Management Inc lifted its holdings in shares of Snap-on by 529.0% during the 2nd quarter. Versant Capital Management Inc now owns 195 shares of the company’s stock worth $51,000 after acquiring an additional 164 shares during the last quarter. Finally, Fidelis Capital Partners LLC bought a new stake in shares of Snap-on during the 1st quarter worth $56,000. 84.88% of the stock is owned by institutional investors.

Insider Transactions at Snap-on

In other news, CEO Nicholas T. Pinchuk sold 24,145 shares of the business’s stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $268.95, for a total transaction of $6,493,797.75. Following the completion of the transaction, the chief executive officer now directly owns 759,019 shares of the company’s stock, valued at $204,138,160.05. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CEO Nicholas T. Pinchuk sold 24,145 shares of the business’s stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $268.95, for a total transaction of $6,493,797.75. Following the completion of the transaction, the chief executive officer now directly owns 759,019 shares of the company’s stock, valued at $204,138,160.05. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Aldo John Pagliari sold 4,473 shares of the business’s stock in a transaction that occurred on Thursday, August 22nd. The shares were sold at an average price of $278.74, for a total transaction of $1,246,804.02. Following the transaction, the chief financial officer now directly owns 99,244 shares of the company’s stock, valued at $27,663,272.56. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 29,804 shares of company stock worth $8,077,390. Corporate insiders own 4.10% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on SNA. Robert W. Baird dropped their price objective on shares of Snap-on from $282.00 to $275.00 and set a “neutral” rating for the company in a report on Friday, July 12th. Barrington Research reaffirmed an “outperform” rating and set a $325.00 price objective on shares of Snap-on in a report on Tuesday, July 16th. Tigress Financial reiterated a “buy” rating and issued a $336.00 target price on shares of Snap-on in a research report on Thursday, July 25th. Finally, Roth Mkm reiterated a “buy” rating and issued a $324.00 target price on shares of Snap-on in a research report on Tuesday, July 16th. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $315.00.

Snap-on Price Performance

SNA stock opened at $286.17 on Friday. The firm’s 50-day moving average price is $276.96 and its two-hundred day moving average price is $276.69. Snap-on Incorporated has a 12-month low of $249.84 and a 12-month high of $298.49. The stock has a market capitalization of $15.08 billion, a price-to-earnings ratio of 15.01, a PEG ratio of 1.95 and a beta of 0.98. The company has a current ratio of 4.06, a quick ratio of 3.05 and a debt-to-equity ratio of 0.22.

Snap-on (NYSE:SNA) last announced its quarterly earnings results on Thursday, July 18th. The company reported $5.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.94 by $0.13. Snap-on had a net margin of 21.90% and a return on equity of 19.90%. The company had revenue of $1.18 billion for the quarter, compared to analysts’ expectations of $1.20 billion. During the same quarter in the previous year, the company earned $4.89 earnings per share. Snap-on’s quarterly revenue was down 1.0% on a year-over-year basis. As a group, equities analysts predict that Snap-on Incorporated will post 18.95 earnings per share for the current year.

Snap-on announced that its Board of Directors has approved 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 purchase up to 3.5% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s management believes its shares are undervalued.

Snap-on Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Monday, August 19th were paid a $1.86 dividend. The ex-dividend date was Monday, August 19th. This represents a $7.44 annualized dividend and a dividend yield of 2.60%. Snap-on’s dividend payout ratio is presently 39.03%.

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.