Snap-on Incorporated (NYSE:SNA) Shares Bought by Creative Planning

Creative Planning raised its position in Snap-on Incorporated (NYSE:SNA) by 4.7% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 9,909 shares of the company’s stock after acquiring an additional 446 shares during the period. Creative Planning’s holdings in Snap-on were worth $2,871,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in SNA. Wealth Enhancement Advisory Services LLC lifted its stake in shares of Snap-on by 6.7% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 34,830 shares of the company’s stock worth $10,317,000 after buying an additional 2,202 shares during the period. Hennion & Walsh Asset Management Inc. acquired a new stake in shares of Snap-on during the first quarter worth $422,000. Diversified Trust Co lifted its stake in shares of Snap-on by 7.4% during the first quarter. Diversified Trust Co now owns 3,755 shares of the company’s stock worth $1,112,000 after buying an additional 260 shares during the period. Claro Advisors LLC lifted its stake in shares of Snap-on by 6.1% during the first quarter. Claro Advisors LLC now owns 3,372 shares of the company’s stock worth $999,000 after buying an additional 193 shares during the period. Finally, Allspring Global Investments Holdings LLC raised its holdings in shares of Snap-on by 15.5% during the first quarter. Allspring Global Investments Holdings LLC now owns 4,573 shares of the company’s stock worth $1,355,000 after purchasing an additional 614 shares during the last quarter. 84.88% of the stock is currently owned by institutional investors and hedge funds.

Snap-on Stock Up 0.3 %

SNA opened at $326.58 on Friday. Snap-on Incorporated has a fifty-two week low of $250.30 and a fifty-two week high of $330.51. The company has a debt-to-equity ratio of 0.22, a quick ratio of 3.14 and a current ratio of 4.18. The company has a fifty day moving average of $289.40 and a two-hundred day moving average of $277.80. The stock has a market capitalization of $17.15 billion, a price-to-earnings ratio of 16.81, a PEG ratio of 2.14 and a beta of 0.98.

Snap-on Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Monday, August 19th were issued a $1.86 dividend. The ex-dividend date was Monday, August 19th. This represents a $7.44 dividend on an annualized basis and a yield of 2.28%. Snap-on’s payout ratio is 38.29%.

Snap-on declared that its board has authorized a share repurchase program on Thursday, August 8th that allows the company to buyback $500.00 million in outstanding shares. This buyback authorization allows the company to repurchase up to 3.5% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s management believes its stock is undervalued.

Analyst Ratings Changes

SNA has been the subject of several recent research reports. Tigress Financial raised their target price on shares of Snap-on from $336.00 to $385.00 and gave the stock a “buy” rating in a report on Friday. Roth Mkm raised their target price on shares of Snap-on from $324.00 to $365.00 and gave the stock a “buy” rating in a report on Tuesday, October 22nd. Bank of America raised their target price on shares of Snap-on from $255.00 to $280.00 and gave the stock an “underperform” rating in a report on Friday, October 18th. Barrington Research raised their target price on shares of Snap-on from $325.00 to $350.00 and gave the stock an “outperform” rating in a report on Thursday, October 17th. Finally, Robert W. Baird raised their target price on shares of Snap-on from $290.00 to $347.00 and gave the stock a “neutral” rating in a report on Friday, October 18th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $345.40.

Insider Transactions at Snap-on

In other news, VP Richard Thomas Miller sold 1,750 shares of the business’s stock in a transaction dated Friday, October 18th. The shares were sold at an average price of $330.00, for a total transaction of $577,500.00. Following the completion of the sale, the vice president now owns 3,218 shares of the company’s stock, valued at $1,061,940. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, VP Richard Thomas Miller sold 1,750 shares of the business’s stock in a transaction dated Friday, October 18th. The shares were sold at an average price of $330.00, for a total transaction of $577,500.00. Following the completion of the sale, the vice president now owns 3,218 shares of the company’s stock, valued at $1,061,940. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Iain Boyd sold 6,044 shares of the business’s stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $298.99, for a total transaction of $1,807,095.56. Following the transaction, the vice president now owns 10,493 shares in the company, valued at $3,137,302.07. The trade was 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. Corporate insiders own 4.10% of the company’s stock.

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.