Townsquare Capital LLC Purchases 811 Shares of Snap-on Incorporated (NYSE:SNA)

Townsquare Capital LLC grew its stake in shares of Snap-on Incorporated (NYSE:SNA) by 3.2% during the 3rd quarter, Holdings Channel.com reports. The firm owned 26,085 shares of the company’s stock after buying an additional 811 shares during the quarter. Townsquare Capital LLC’s holdings in Snap-on were worth $7,557,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the stock. Opal Wealth Advisors LLC purchased a new stake in Snap-on in the 2nd quarter valued at about $30,000. Reston Wealth Management LLC bought a new position in Snap-on in the 3rd quarter worth approximately $30,000. Innealta Capital LLC purchased a new stake in Snap-on in the 2nd quarter worth approximately $32,000. Massmutual Trust Co. FSB ADV lifted its stake in Snap-on by 53.0% in the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 127 shares of the company’s stock worth $37,000 after purchasing an additional 44 shares in the last quarter. Finally, Brooklyn Investment Group purchased a new stake in Snap-on in the 3rd quarter worth approximately $39,000. Institutional investors and hedge funds own 84.88% of the company’s stock.

Insider Transactions at Snap-on

In related news, SVP Thomas J. Ward sold 12,737 shares of the business’s stock in a transaction on Monday, October 28th. The shares were sold at an average price of $333.21, for a total value of $4,244,095.77. Following the completion of the transaction, the senior vice president now directly owns 55,401 shares in the company, valued at $18,460,167.21. The trade was a 18.69 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP Richard Thomas Miller sold 1,750 shares of the business’s stock in a transaction 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 completion of the sale, the vice president now directly owns 3,218 shares of the company’s stock, valued at approximately $1,061,940. The trade was a 35.23 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 20,531 shares of company stock valued at $6,628,691 in the last 90 days. Insiders own 4.10% of the company’s stock.

Snap-on Price Performance

Snap-on stock opened at $369.23 on Thursday. Snap-on Incorporated has a 52-week low of $252.98 and a 52-week high of $373.89. The company has a market cap of $19.39 billion, a price-to-earnings ratio of 19.00, a PEG ratio of 2.45 and a beta of 0.96. The company has a quick ratio of 3.14, a current ratio of 4.18 and a debt-to-equity ratio of 0.22. The firm’s fifty day moving average is $321.25 and its 200 day moving average is $289.52.

Snap-on (NYSE:SNA) last posted its quarterly earnings results on Thursday, October 17th. The company reported $4.70 EPS for the quarter, topping 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 company had revenue of $1.15 billion for the quarter, compared to the consensus estimate of $1.16 billion. Sell-side analysts forecast that Snap-on Incorporated will post 19.05 EPS for the current fiscal year.

Snap-on declared that its board has approved 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 reacquire up to 3.5% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s board of directors believes its stock is undervalued.

Snap-on Increases Dividend

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

Analysts Set New Price Targets

Several research firms have recently weighed in on SNA. Barrington Research raised their price objective 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. Bank of America raised their price target 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. Roth Mkm lifted their target price on shares of 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 boosted their price objective on shares of Snap-on from $336.00 to $385.00 and gave the stock a “buy” rating in a research note on Friday, October 25th. Finally, Robert W. Baird boosted their price objective on shares of Snap-on from $290.00 to $347.00 and gave the stock a “neutral” rating in a research note on Friday, October 18th. One analyst has rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target 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.