City Center Advisors LLC Purchases 203 Shares of Snap-on Incorporated (NYSE:SNA)

City Center Advisors LLC increased its position in shares of Snap-on Incorporated (NYSE:SNA) by 27.9% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 931 shares of the company’s stock after acquiring an additional 203 shares during the period. City Center Advisors LLC’s holdings in Snap-on were worth $270,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the company. Scarborough Advisors LLC acquired a new position in shares of Snap-on in the fourth quarter valued at approximately $30,000. Opal Wealth Advisors LLC bought a new position in shares of Snap-on during the second quarter valued at $30,000. Innealta Capital LLC bought a new position in shares of Snap-on during the second quarter valued at $32,000. Massmutual Trust Co. FSB ADV lifted its holdings in shares of Snap-on by 53.0% during the third quarter. Massmutual Trust Co. FSB ADV now owns 127 shares of the company’s stock worth $37,000 after purchasing an additional 44 shares during the period. Finally, Quarry LP grew its stake in shares of Snap-on by 244.7% in the second quarter. Quarry LP now owns 162 shares of the company’s stock worth $42,000 after purchasing an additional 115 shares during the last quarter. 84.88% of the stock is currently owned by institutional investors.

Snap-on Trading Down 0.3 %

NYSE SNA opened at $286.02 on Tuesday. The stock has a market capitalization of $15.07 billion, a P/E ratio of 15.01, a P/E/G ratio of 2.02 and a beta of 0.98. The business has a 50 day simple moving average of $280.03 and a 200 day simple moving average of $276.20. The company has a debt-to-equity ratio of 0.22, a current ratio of 4.06 and a quick ratio of 3.05. Snap-on Incorporated has a one year low of $249.84 and a one year high of $298.49.

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

Snap-on announced that its board has approved a share repurchase plan on Thursday, August 8th that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the company to repurchase up to 3.5% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s management believes its stock is undervalued.

Snap-on Announces Dividend

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

Insider Buying and Selling

In other Snap-on news, CEO Nicholas T. Pinchuk sold 24,145 shares of the company’s stock in a transaction 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 transaction, the chief executive officer now owns 759,019 shares in the company, valued at approximately $204,138,160.05. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, CEO Nicholas T. Pinchuk sold 24,145 shares of the business’s stock in a transaction dated 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 sale, the chief executive officer now directly owns 759,019 shares of the company’s stock, valued at $204,138,160.05. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, VP June C. Lemerand sold 1,186 shares of the firm’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $283.97, for a total transaction 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. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 29,804 shares of company stock worth $8,077,390 in the last ninety days. Corporate insiders own 4.10% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have commented on SNA shares. Robert W. Baird reduced their price target on Snap-on from $282.00 to $275.00 and set a “neutral” rating on the stock in a research report on Friday, July 12th. Roth Mkm reissued a “buy” rating and set a $324.00 target price on shares of Snap-on in a research report on Tuesday, July 16th. Barrington Research restated an “outperform” rating and issued a $325.00 price target on shares of Snap-on in a research report on Friday, September 20th. Finally, Tigress Financial reiterated a “buy” rating and set a $336.00 price objective on shares of Snap-on in a research report on Thursday, July 25th.

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.