Lake Street Advisors Group LLC Purchases 32 Shares of Snap-on Incorporated (NYSE:SNA)

Lake Street Advisors Group LLC grew its position in Snap-on Incorporated (NYSE:SNA) by 3.1% in the third quarter, Holdings Channel.com reports. The fund owned 1,074 shares of the company’s stock after buying an additional 32 shares during the period. Lake Street Advisors Group LLC’s holdings in Snap-on were worth $311,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of SNA. Mawer Investment Management Ltd. boosted its stake in Snap-on by 234.7% during the second quarter. Mawer Investment Management Ltd. now owns 632,226 shares of the company’s stock worth $165,258,000 after buying an additional 443,333 shares in the last quarter. Pacer Advisors Inc. increased its stake in Snap-on by 51.2% in the second quarter. Pacer Advisors Inc. now owns 829,471 shares of the company’s stock valued at $216,815,000 after acquiring an additional 280,997 shares during the period. Millennium Management LLC raised its position in Snap-on by 1,786.4% in the second quarter. Millennium Management LLC now owns 161,175 shares of the company’s stock worth $42,130,000 after purchasing an additional 152,631 shares in the last quarter. International Assets Investment Management LLC lifted its stake in Snap-on by 34,381.0% during the third quarter. International Assets Investment Management LLC now owns 130,338 shares of the company’s stock worth $37,760,000 after purchasing an additional 129,960 shares during the period. Finally, Glassman Wealth Services acquired a new stake in Snap-on during the second quarter valued at approximately $26,608,000. Institutional investors and hedge funds own 84.88% of the company’s stock.

Wall Street Analysts Forecast Growth

SNA has been the subject of several analyst reports. Robert W. Baird raised their target price on Snap-on from $290.00 to $347.00 and gave the stock a “neutral” rating in a research report on Friday, October 18th. Tigress Financial lifted their price objective on Snap-on from $336.00 to $385.00 and gave the company a “buy” rating in a report on Friday. 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 report on Thursday, October 17th. Bank of America lifted their price target 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, Roth Mkm upped their price objective 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. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $345.40.

Insiders Place Their Bets

In other news, VP June C. Lemerand sold 1,186 shares of Snap-on stock in a transaction on Monday, August 26th. The stock was sold at an average price of $283.97, for a total value of $336,788.42. Following the completion of the sale, the vice president now directly owns 2,283 shares of the company’s stock, valued at approximately $648,303.51. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Snap-on news, CEO Nicholas T. Pinchuk sold 24,145 shares of the company’s stock in a transaction dated 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 transaction, 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 transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP June C. Lemerand sold 1,186 shares of Snap-on stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $283.97, for a total transaction of $336,788.42. Following the sale, the vice president now owns 2,283 shares of the company’s stock, valued at approximately $648,303.51. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 37,598 shares of company stock valued at $10,461,986. 4.10% of the stock is currently owned by corporate insiders.

Snap-on Trading Up 0.3 %

SNA opened at $326.58 on Friday. Snap-on Incorporated has a 1-year low of $250.30 and a 1-year high of $330.51. The stock has a market capitalization of $17.15 billion, a PE ratio of 16.81, a PEG ratio of 2.14 and a beta of 0.98. The company has a current ratio of 4.18, a quick ratio of 3.14 and a debt-to-equity ratio of 0.22. The firm has a 50-day moving average price of $289.40 and a two-hundred day moving average price of $277.80.

Snap-on Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Monday, August 19th were given a $1.86 dividend. This represents a $7.44 annualized dividend and a yield of 2.28%. The ex-dividend date of this dividend was Monday, August 19th. Snap-on’s dividend payout ratio (DPR) is presently 38.29%.

Snap-on announced that its board has approved a share repurchase program on Thursday, August 8th that allows the company to buyback $500.00 million in shares. This buyback authorization allows the company to reacquire 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.

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.