Foundations Investment Advisors LLC Buys New Position in Snap-on Incorporated (NYSE:SNA)

Foundations Investment Advisors LLC purchased a new position in Snap-on Incorporated (NYSE:SNA) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 752 shares of the company’s stock, valued at approximately $218,000.

A number of other large investors have also modified their holdings of the business. Opal Wealth Advisors LLC acquired a new stake in Snap-on in the 2nd quarter worth approximately $30,000. Innealta Capital LLC acquired a new stake in shares of Snap-on during the second quarter worth $32,000. Massmutual Trust Co. FSB ADV grew 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 valued at $37,000 after buying an additional 44 shares during the last quarter. Quarry LP increased its position in shares of Snap-on by 244.7% in the 2nd quarter. Quarry LP now owns 162 shares of the company’s stock valued at $42,000 after acquiring an additional 115 shares during the period. Finally, Versant Capital Management Inc raised its stake in Snap-on by 529.0% in 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. Hedge funds and other institutional investors own 84.88% of the company’s stock.

Snap-on Trading Up 0.3 %

Snap-on stock opened at $326.58 on Friday. The firm has a market cap of $17.15 billion, a PE ratio of 16.81, a P/E/G ratio of 2.14 and a beta of 0.98. Snap-on Incorporated has a 12 month low of $250.30 and a 12 month high of $330.51. The stock’s 50 day simple moving average is $289.40 and its two-hundred day simple moving average is $277.80. The company has a current ratio of 4.18, a quick ratio of 3.14 and a debt-to-equity ratio of 0.22.

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

Snap-on Dividend Announcement

The company 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. The ex-dividend date was Monday, August 19th. This represents a $7.44 annualized dividend and a yield of 2.28%. Snap-on’s dividend payout ratio is presently 38.29%.

Insider Activity at Snap-on

In other news, VP Richard Thomas Miller sold 1,750 shares of the firm’s stock in a transaction dated Friday, October 18th. The stock was sold at an average price of $330.00, for a total transaction of $577,500.00. Following the sale, the vice president now directly owns 3,218 shares in the company, valued at $1,061,940. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, VP Richard Thomas Miller sold 1,750 shares of the stock in a transaction that occurred on Friday, October 18th. The stock was sold at an average price of $330.00, for a total transaction of $577,500.00. Following the transaction, the vice president now owns 3,218 shares in the company, valued at $1,061,940. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Nicholas T. Pinchuk sold 24,145 shares of Snap-on 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 completion of the sale, the chief executive officer now directly owns 759,019 shares in the company, valued at $204,138,160.05. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 37,598 shares of company stock worth $10,461,986. 4.10% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several research firms have weighed in on SNA. Roth Mkm boosted their price target on Snap-on from $324.00 to $365.00 and gave the company a “buy” rating in a research note on Tuesday, October 22nd. Tigress Financial upped their target price on Snap-on from $336.00 to $385.00 and gave the company a “buy” rating in a research report on Friday. Barrington Research raised their price target on shares of Snap-on from $325.00 to $350.00 and gave the stock an “outperform” rating in a research report on Thursday, October 17th. Bank of America upped their price objective on shares of Snap-on from $255.00 to $280.00 and gave the company an “underperform” rating in a report on Friday, October 18th. 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 equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, Snap-on has a consensus rating of “Hold” and an average target price of $345.40.

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.