Capital Investment Advisors LLC Has $4.60 Million Holdings in Snap-on Incorporated (NYSE:SNA)

Capital Investment Advisors LLC trimmed its holdings in shares of Snap-on Incorporated (NYSE:SNA) by 4.2% in the third quarter, HoldingsChannel reports. The firm owned 15,886 shares of the company’s stock after selling 688 shares during the period. Capital Investment Advisors LLC’s holdings in Snap-on were worth $4,602,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of SNA. Opal Wealth Advisors LLC acquired a new stake in shares of Snap-on in the second quarter valued at $30,000. Innealta Capital LLC acquired a new stake in Snap-on in the 2nd quarter valued at about $32,000. Massmutual Trust Co. FSB ADV raised its stake in shares of Snap-on by 53.0% in the third quarter. Massmutual Trust Co. FSB ADV now owns 127 shares of the company’s stock worth $37,000 after acquiring an additional 44 shares during the last quarter. Quarry LP lifted its position in shares of Snap-on by 244.7% during the second quarter. Quarry LP now owns 162 shares of the company’s stock worth $42,000 after purchasing an additional 115 shares in the last quarter. Finally, Fidelis Capital Partners LLC bought a new stake in shares of Snap-on during the first quarter valued at approximately $56,000. Institutional investors own 84.88% of the company’s stock.

Snap-on Trading Down 0.5 %

NYSE SNA opened at $326.09 on Friday. The company has a current ratio of 4.06, a quick ratio of 3.05 and a debt-to-equity ratio of 0.22. Snap-on Incorporated has a 12 month low of $249.84 and a 12 month high of $330.51. The company has a market capitalization of $17.19 billion, a PE ratio of 17.11, a P/E/G ratio of 2.06 and a beta of 0.98. The stock has a 50-day simple moving average of $284.18 and a 200 day simple moving average of $276.68.

Snap-on (NYSE:SNA) last announced its quarterly earnings results on Thursday, July 18th. The company reported $5.07 earnings per share for the quarter, beating analysts’ consensus estimates of $4.94 by $0.13. The business had revenue of $1.18 billion for the quarter, compared to the consensus estimate of $1.20 billion. Snap-on had a net margin of 21.90% and a return on equity of 19.90%. Snap-on’s revenue for the quarter was down 1.0% on a year-over-year basis. During the same period last year, the company posted $4.89 EPS. Research analysts forecast that Snap-on Incorporated will post 18.95 EPS for the current year.

Snap-on Dividend Announcement

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. The ex-dividend date of this dividend was Monday, August 19th. This represents a $7.44 annualized dividend and a yield of 2.28%. Snap-on’s dividend payout ratio (DPR) is presently 39.03%.

Snap-on declared that its board has initiated a share buyback program on Thursday, August 8th that permits the company to buyback $500.00 million in shares. This buyback authorization permits the company to repurchase up to 3.5% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s board believes its shares are undervalued.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the stock. Tigress Financial restated a “buy” rating and issued a $336.00 price objective on shares of Snap-on in a research report on Thursday, July 25th. Robert W. Baird boosted 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. Bank of America raised their price target on Snap-on from $255.00 to $280.00 and gave the company an “underperform” rating in a report on Friday. Roth Mkm reissued a “buy” rating and set a $324.00 price objective on shares of Snap-on in a report on Tuesday, July 16th. Finally, Barrington Research raised their target price on shares of Snap-on from $325.00 to $350.00 and gave the company an “outperform” rating in a research note on Thursday. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $327.40.

Insider Transactions at Snap-on

In related news, CEO Nicholas T. Pinchuk sold 24,145 shares of the firm’s stock in a transaction on Monday, August 12th. The stock was 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 owns 759,019 shares of the company’s stock, valued at approximately $204,138,160.05. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In related news, CEO Nicholas T. Pinchuk sold 24,145 shares of the business’s stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $268.95, for a total value of $6,493,797.75. Following the completion of the transaction, the chief executive officer now directly owns 759,019 shares in the company, 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 Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Iain Boyd sold 6,044 shares of the firm’s stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $298.99, for a total transaction of $1,807,095.56. Following the sale, the vice president now owns 10,493 shares in the company, valued at $3,137,302.07. 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 35,848 shares of company stock valued at $9,884,486 over the last three months. 4.10% of the stock is currently owned by corporate 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.