Wealth Enhancement Advisory Services LLC Has $7.88 Million Position in Snap-on Incorporated (NYSE:SNA)

Wealth Enhancement Advisory Services LLC lowered its position in Snap-on Incorporated (NYSE:SNA) by 22.5% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 27,194 shares of the company’s stock after selling 7,899 shares during the quarter. Wealth Enhancement Advisory Services LLC owned approximately 0.05% of Snap-on worth $7,878,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Opal Wealth Advisors LLC acquired a new stake in shares of Snap-on during the 2nd quarter worth about $30,000. Innealta Capital LLC acquired a new stake in shares of Snap-on during the 2nd quarter worth about $32,000. Massmutual Trust Co. FSB ADV lifted its stake 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 worth $37,000 after buying an additional 44 shares during the last quarter. Quarry LP lifted its stake in shares of Snap-on by 244.7% during the 2nd quarter. Quarry LP now owns 162 shares of the company’s stock worth $42,000 after buying an additional 115 shares during the last quarter. Finally, Versant Capital Management Inc lifted its stake in shares of Snap-on by 529.0% during the 2nd quarter. Versant Capital Management Inc now owns 195 shares of the company’s stock worth $51,000 after buying an additional 164 shares during the last quarter. Institutional investors and hedge funds own 84.88% of the company’s stock.

Snap-on Price Performance

SNA stock opened at $332.92 on Thursday. The company has a quick ratio of 3.14, a current ratio of 4.18 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 $337.72. The firm has a market cap of $17.48 billion, a P/E ratio of 17.19, a P/E/G ratio of 2.16 and a beta of 0.98. The company’s 50-day moving average price is $291.67 and its two-hundred day moving average price is $278.30.

Snap-on declared that its Board of Directors has initiated a stock buyback plan on Thursday, August 8th that allows the company to repurchase $500.00 million in shares. This repurchase authorization allows the company to purchase up to 3.5% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s board believes its stock is undervalued.

Snap-on Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Monday, August 19th were issued a $1.86 dividend. This represents a $7.44 annualized dividend and a yield of 2.23%. The ex-dividend date of this dividend was Monday, August 19th. Snap-on’s dividend payout ratio is currently 38.29%.

Insider Buying and Selling at Snap-on

In related news, SVP Thomas J. Ward sold 12,737 shares of Snap-on stock in a transaction that occurred on Monday, October 28th. The shares were sold at an average price of $333.21, for a total transaction of $4,244,095.77. Following the sale, the senior vice president now directly owns 55,401 shares of the company’s stock, valued at approximately $18,460,167.21. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, CEO Nicholas T. Pinchuk sold 24,145 shares of Snap-on stock in a transaction that occurred on 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 sale, the chief executive officer now directly owns 759,019 shares of the company’s stock, valued at approximately $204,138,160.05. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Thomas J. Ward sold 12,737 shares of Snap-on stock in a transaction that occurred on Monday, October 28th. The shares were sold at an average price of $333.21, for a total transaction of $4,244,095.77. Following the sale, the senior vice president now directly owns 55,401 shares in the company, valued at $18,460,167.21. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 50,335 shares of company stock valued at $14,706,082 in the last ninety days. 4.10% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on SNA. Bank of America raised their target price on shares of Snap-on from $255.00 to $280.00 and gave the stock an “underperform” rating in a research note on Friday, October 18th. Roth Mkm lifted 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. Tigress Financial lifted 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. Barrington Research lifted their price objective on shares of Snap-on from $325.00 to $350.00 and gave the stock an “outperform” rating in a research note on Thursday, October 17th. Finally, Robert W. Baird lifted 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 research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, Snap-on presently has an average rating of “Hold” and a consensus target price 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.