nVerses Capital LLC Makes New $58,000 Investment in Snap-on Incorporated (NYSE:SNA)

nVerses Capital LLC bought a new stake in shares of Snap-on Incorporated (NYSE:SNA) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 200 shares of the company’s stock, valued at approximately $58,000.

Other large investors also recently modified their holdings of the company. Twelve Points Wealth Management LLC grew its holdings in Snap-on by 9.2% during the third quarter. Twelve Points Wealth Management LLC now owns 3,059 shares of the company’s stock valued at $886,000 after purchasing an additional 257 shares during the period. Touchstone Capital Inc. lifted its position in shares of Snap-on by 26.8% during the 3rd quarter. Touchstone Capital Inc. now owns 19,482 shares of the company’s stock valued at $5,644,000 after buying an additional 4,114 shares during the last quarter. Vontobel Holding Ltd. grew its stake in shares of Snap-on by 116.3% during the 3rd quarter. Vontobel Holding Ltd. now owns 1,968 shares of the company’s stock worth $570,000 after acquiring an additional 1,058 shares during the period. Kapitalo Investimentos Ltda purchased a new stake in Snap-on in the 3rd quarter worth about $207,000. Finally, Swedbank AB raised its stake in Snap-on by 2.7% in the 3rd quarter. Swedbank AB now owns 51,143 shares of the company’s stock valued at $14,817,000 after acquiring an additional 1,351 shares during the period. Hedge funds and other institutional investors own 84.88% of the company’s stock.

Snap-on Price Performance

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

Snap-on Dividend Announcement

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

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

Analyst Ratings Changes

Several analysts have recently issued reports on SNA shares. Bank of America boosted their price target on shares of Snap-on from $255.00 to $280.00 and gave the company an “underperform” rating in a research report on Friday. Barrington Research increased 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. Roth Mkm reiterated a “buy” rating and issued a $324.00 price target on shares of Snap-on in a research report on Tuesday, July 16th. 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 report on Friday. Finally, Tigress Financial restated a “buy” rating and issued a $336.00 target price on shares of Snap-on in a research note on Thursday, July 25th. One analyst has rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $327.40.

Insider Activity

In other Snap-on news, CEO Nicholas T. Pinchuk sold 24,145 shares of the company’s 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 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related 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 sale, the chief executive officer now 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 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 transaction of $1,807,095.56. Following the transaction, the vice president now directly owns 10,493 shares of the company’s stock, valued at $3,137,302.07. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 37,598 shares of company stock valued at $10,461,986. Corporate insiders own 4.10% of the company’s stock.

About Snap-on

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.