Transamerica Financial Advisors Inc. Purchases New Position in Snap-on Incorporated (NYSE:SNA)

Transamerica Financial Advisors Inc. purchased a new stake in shares of Snap-on Incorporated (NYSE:SNA) in the 3rd quarter, Holdings Channel reports. The fund purchased 315 shares of the company’s stock, valued at approximately $92,000.

Several other institutional investors have also recently added to or reduced their stakes in the company. Aurora Investment Counsel lifted its holdings in Snap-on by 0.9% during the 3rd quarter. Aurora Investment Counsel now owns 3,549 shares of the company’s stock valued at $1,028,000 after purchasing an additional 30 shares during the last quarter. Lake Street Advisors Group LLC raised its stake in shares of Snap-on by 3.1% in the third quarter. Lake Street Advisors Group LLC now owns 1,074 shares of the company’s stock worth $311,000 after acquiring an additional 32 shares during the last quarter. Metis Global Partners LLC lifted its position in shares of Snap-on by 1.9% during the third quarter. Metis Global Partners LLC now owns 1,691 shares of the company’s stock worth $490,000 after purchasing an additional 32 shares in the last quarter. Verdence Capital Advisors LLC lifted its position in shares of Snap-on by 2.5% during the third quarter. Verdence Capital Advisors LLC now owns 1,526 shares of the company’s stock worth $442,000 after purchasing an additional 37 shares in the last quarter. Finally, TFB Advisors LLC lifted its position in shares of Snap-on by 3.2% during the second quarter. TFB Advisors LLC now owns 1,226 shares of the company’s stock worth $320,000 after purchasing an additional 38 shares in the last quarter. 84.88% of the stock is owned by institutional investors.

Snap-on Trading Down 0.6 %

Shares of NYSE SNA opened at $369.23 on Thursday. The company’s 50 day simple moving average is $321.25 and its 200 day simple moving average is $289.52. Snap-on Incorporated has a fifty-two week low of $252.98 and a fifty-two week high of $373.89. The firm has a market capitalization of $19.39 billion, a P/E ratio of 19.00, a P/E/G ratio of 2.45 and a beta of 0.96. The company has a debt-to-equity ratio of 0.22, a current ratio of 4.18 and a quick ratio of 3.14.

Snap-on (NYSE:SNA) last announced its quarterly earnings data on Thursday, October 17th. The company reported $4.70 earnings per share for the quarter, beating the consensus estimate of $4.58 by $0.12. Snap-on had a net margin of 22.13% and a return on equity of 19.44%. The business had revenue of $1.15 billion for the quarter, compared to analyst estimates of $1.16 billion. On average, analysts predict that Snap-on Incorporated will post 19.05 EPS for the current year.

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

Snap-on Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Thursday, November 21st will be paid a $2.14 dividend. This represents a $8.56 annualized dividend and a yield of 2.32%. The ex-dividend date of this dividend is Thursday, November 21st. This is an increase from Snap-on’s previous quarterly dividend of $1.86. Snap-on’s dividend payout ratio is presently 44.06%.

Insider Buying and Selling at Snap-on

In other Snap-on news, VP Iain Boyd sold 6,044 shares of the company’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 value of $1,807,095.56. Following the completion of the sale, the vice president now owns 10,493 shares of the company’s stock, valued at approximately $3,137,302.07. This represents a 36.55 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Richard Thomas Miller sold 1,750 shares of the company’s stock in a transaction that occurred on 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 directly owns 3,218 shares of the company’s stock, valued at $1,061,940. The trade was a 35.23 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 20,531 shares of company stock valued at $6,628,691. Corporate insiders own 4.10% of the company’s stock.

Wall Street Analyst Weigh In

SNA has been the topic of a number of research reports. Robert W. Baird upped 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. Barrington Research upped their target price 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. Tigress Financial upped their target price on shares of Snap-on from $336.00 to $385.00 and gave the stock a “buy” rating in a research report on Friday, October 25th. Roth Mkm upped their target price on shares of Snap-on from $324.00 to $365.00 and gave the stock a “buy” rating in a research report on Tuesday, October 22nd. Finally, Bank of America upped their target price on shares of Snap-on from $255.00 to $280.00 and gave the stock an “underperform” rating in a research report on Friday, October 18th. One equities research 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. According to data from MarketBeat.com, Snap-on has an average rating of “Hold” and an average target price of $345.40.

Snap-on Company 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.