Foster & Motley Inc. Buys 1,421 Shares of Snap-on Incorporated (NYSE:SNA)

Foster & Motley Inc. boosted its stake in Snap-on Incorporated (NYSE:SNA) by 7.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 20,786 shares of the company’s stock after purchasing an additional 1,421 shares during the quarter. Foster & Motley Inc.’s holdings in Snap-on were worth $6,022,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in SNA. Reston Wealth Management LLC bought a new position in shares of Snap-on in the third quarter valued at approximately $30,000. Opal Wealth Advisors LLC bought a new position in Snap-on in the 2nd quarter valued at $30,000. Innealta Capital LLC purchased a new position in shares of Snap-on during the 2nd quarter valued at $32,000. Massmutual Trust Co. FSB ADV grew its position in shares of Snap-on by 53.0% during the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 127 shares of the company’s stock valued at $37,000 after purchasing an additional 44 shares in the last quarter. Finally, Quarry LP increased its holdings 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 period. Hedge funds and other institutional investors own 84.88% of the company’s stock.

Snap-on Stock Performance

Shares of NYSE SNA opened at $336.99 on Wednesday. Snap-on Incorporated has a 1 year low of $252.98 and a 1 year high of $337.72. The company has a debt-to-equity ratio of 0.22, a current ratio of 4.18 and a quick ratio of 3.14. The stock has a market cap of $17.70 billion, a PE ratio of 17.20, a price-to-earnings-growth ratio of 2.19 and a beta of 0.96. The firm has a fifty day moving average price of $296.73 and a 200-day moving average price of $280.25.

Snap-on Announces Dividend

The firm 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 annualized dividend and a dividend yield of 2.21%. The ex-dividend date was Monday, August 19th. Snap-on’s dividend payout ratio is 38.29%.

Snap-on announced that its Board of Directors has authorized a stock repurchase program on Thursday, August 8th that authorizes the company to buyback $500.00 million in outstanding shares. This buyback authorization authorizes the company to repurchase up to 3.5% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board believes its shares are undervalued.

Wall Street Analyst Weigh In

Several research analysts have recently commented on SNA shares. Bank of America boosted their price objective on Snap-on from $255.00 to $280.00 and gave the stock an “underperform” rating in a report on Friday, October 18th. Roth Mkm lifted their price target on Snap-on from $324.00 to $365.00 and gave the stock a “buy” rating in a research note on Tuesday, October 22nd. Barrington Research increased their price objective on Snap-on from $325.00 to $350.00 and gave the company an “outperform” rating in a research note on Thursday, October 17th. Tigress Financial boosted their price target on Snap-on from $336.00 to $385.00 and gave the company a “buy” rating in a report on Friday, October 25th. 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 research report on Friday, October 18th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $345.40.

Insider Activity

In related news, CEO Nicholas T. Pinchuk sold 24,145 shares of the stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $268.95, for a total value of $6,493,797.75. Following the sale, the chief executive officer now directly owns 759,019 shares of the company’s stock, valued at $204,138,160.05. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, CFO Aldo John Pagliari sold 4,473 shares of the stock in a transaction on Thursday, August 22nd. The stock was sold at an average price of $278.74, for a total transaction of $1,246,804.02. Following the completion of the sale, the chief financial officer now owns 99,244 shares in the company, valued at approximately $27,663,272.56. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Nicholas T. Pinchuk sold 24,145 shares of the business’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 sale, the chief executive officer now directly owns 759,019 shares in the company, valued at approximately $204,138,160.05. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 50,335 shares of company stock valued at $14,706,082 in the last ninety days. 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.