Lindenwold Advisors INC Has $2.28 Million Stake in Snap-on Incorporated (NYSE:SNA)

Lindenwold Advisors INC increased its position in shares of Snap-on Incorporated (NYSE:SNA) by 71.1% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 7,885 shares of the company’s stock after purchasing an additional 3,277 shares during the quarter. Snap-on accounts for approximately 1.2% of Lindenwold Advisors INC’s investment portfolio, making the stock its 27th largest position. Lindenwold Advisors INC’s holdings in Snap-on were worth $2,284,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the company. Manning & Napier Advisors LLC bought a new stake in shares of Snap-on during the 2nd quarter valued at approximately $4,571,000. Asset Management One Co. Ltd. increased its holdings in shares of Snap-on by 0.3% during the third quarter. Asset Management One Co. Ltd. now owns 19,896 shares of the company’s stock worth $5,764,000 after buying an additional 67 shares in the last quarter. SG Americas Securities LLC lifted its stake in shares of Snap-on by 32.7% in the 2nd quarter. SG Americas Securities LLC now owns 13,140 shares of the company’s stock valued at $3,435,000 after acquiring an additional 3,238 shares during the last quarter. Strategic Financial Concepts LLC acquired a new stake in shares of Snap-on during the 2nd quarter valued at $3,653,000. Finally, Victory Capital Management Inc. grew its position in Snap-on by 21.5% during the 3rd quarter. Victory Capital Management Inc. now owns 158,777 shares of the company’s stock worth $45,999,000 after acquiring an additional 28,049 shares during the last quarter. Institutional investors and hedge funds own 84.88% of the company’s stock.

Snap-on Trading Up 0.2 %

NYSE:SNA opened at $357.64 on Tuesday. The stock has a market capitalization of $18.78 billion, a price-to-earnings ratio of 18.41, a PEG ratio of 2.36 and a beta of 0.96. The firm has a fifty day simple moving average of $311.04 and a two-hundred day simple moving average of $285.83. 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 Incorporated has a 12 month low of $252.98 and a 12 month high of $365.35.

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

Snap-on declared that its Board of Directors has approved 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 stock through open market purchases. Stock repurchase programs are generally an indication that the company’s leadership believes its shares are undervalued.

Snap-on Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Thursday, November 21st will be issued a dividend of $2.14 per share. The ex-dividend date is Thursday, November 21st. This represents a $8.56 annualized dividend and a yield of 2.39%. This is an increase from Snap-on’s previous quarterly dividend of $1.86. Snap-on’s dividend payout ratio is 38.29%.

Insider Transactions at Snap-on

In related news, CFO Aldo John Pagliari sold 4,473 shares of the stock in a transaction that occurred 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 directly owns 99,244 shares of the company’s stock, valued at approximately $27,663,272.56. This trade represents a 4.31 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Thomas J. Ward sold 12,737 shares of Snap-on stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $333.21, for a total transaction of $4,244,095.77. Following the completion of the sale, the senior vice president now directly owns 55,401 shares in the company, valued at approximately $18,460,167.21. This represents a 18.69 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 26,190 shares of company stock worth $8,212,284 in the last quarter. 4.10% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several research analysts have recently issued reports on SNA shares. Bank of America upped their price objective on Snap-on from $255.00 to $280.00 and gave the company an “underperform” rating in a research note on Friday, October 18th. Barrington Research upped their price target on shares of Snap-on from $325.00 to $350.00 and gave the company an “outperform” rating in a research report on Thursday, October 17th. Robert W. Baird raised their price objective on Snap-on from $290.00 to $347.00 and gave the stock a “neutral” rating in a research report on Friday, October 18th. Roth Mkm lifted their target price on shares of Snap-on from $324.00 to $365.00 and gave the stock a “buy” rating in a research note on Tuesday, October 22nd. Finally, Tigress Financial upped their price target on shares of Snap-on from $336.00 to $385.00 and gave the company a “buy” rating in a research report on Friday, October 25th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, Snap-on currently has a consensus rating of “Hold” and a consensus price target 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.