Pathstone Holdings LLC Acquires 291 Shares of Snap-on Incorporated (NYSE:SNA)

Pathstone Holdings LLC raised its stake in shares of Snap-on Incorporated (NYSE:SNA) by 5.5% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,606 shares of the company’s stock after buying an additional 291 shares during the period. Pathstone Holdings LLC’s holdings in Snap-on were worth $1,624,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in SNA. Reston Wealth Management LLC acquired a new position in Snap-on during the third quarter valued at approximately $30,000. Opal Wealth Advisors LLC bought a new position in Snap-on in the second quarter worth $30,000. Innealta Capital LLC acquired a new stake in Snap-on during the second quarter valued at approximately $32,000. Massmutual Trust Co. FSB ADV grew its stake in shares of Snap-on by 53.0% in the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 127 shares of the company’s stock valued at $37,000 after purchasing an additional 44 shares during the period. Finally, Quarry LP raised its stake in Snap-on by 244.7% during the second quarter. Quarry LP now owns 162 shares of the company’s stock worth $42,000 after acquiring an additional 115 shares in the last quarter. Institutional investors and hedge funds own 84.88% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on SNA shares. Barrington Research boosted their target price on 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 boosted their price objective on Snap-on from $255.00 to $280.00 and gave the stock an “underperform” rating in a research note on Friday, October 18th. Tigress Financial raised their price target on shares of Snap-on from $336.00 to $385.00 and gave the company a “buy” rating in a report on Friday, October 25th. Roth Mkm raised 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. Finally, Robert W. Baird increased their target price on Snap-on from $290.00 to $347.00 and gave the company a “neutral” rating in a research note on Friday, October 18th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $345.40.

Snap-on Stock Performance

SNA opened at $369.23 on Thursday. The company has a debt-to-equity ratio of 0.22, a current ratio of 4.18 and a quick ratio of 3.14. The company has a market capitalization of $19.39 billion, a price-to-earnings ratio of 19.13, a P/E/G ratio of 2.45 and a beta of 0.96. Snap-on Incorporated has a 1 year low of $252.98 and a 1 year high of $373.89. The business’s 50-day moving average price is $321.25 and its two-hundred day moving average price is $289.52.

Snap-on (NYSE:SNA) last issued 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. The firm had revenue of $1.15 billion for the quarter, compared to analysts’ expectations of $1.16 billion. Snap-on had a net margin of 22.13% and a return on equity of 19.44%. Equities analysts expect that Snap-on Incorporated will post 19.05 EPS for the current fiscal year.

Snap-on Increases Dividend

The firm 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. This represents a $8.56 dividend on an annualized basis and a dividend yield of 2.32%. This is a boost from Snap-on’s previous quarterly dividend of $1.86. The ex-dividend date is Thursday, November 21st. Snap-on’s dividend payout ratio (DPR) is presently 44.06%.

Snap-on announced that its board has authorized a share repurchase plan on Thursday, August 8th that authorizes the company to repurchase $500.00 million in outstanding shares. This repurchase authorization authorizes the company to repurchase up to 3.5% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s management believes its stock is undervalued.

Insider Activity

In related news, SVP Thomas J. Ward sold 12,737 shares of the stock in a transaction that occurred on 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 sale, the senior vice president now owns 55,401 shares of the company’s stock, valued at $18,460,167.21. This represents a 18.69 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Richard Thomas Miller sold 1,750 shares of the stock in a transaction dated Friday, October 18th. The stock was sold at an average price of $330.00, for a total transaction of $577,500.00. Following the sale, the vice president now owns 3,218 shares in the company, valued at $1,061,940. The trade was a 35.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 20,531 shares of company stock valued at $6,628,691 over the last ninety days. 4.10% of the stock is currently owned by company insiders.

Snap-on 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.