Independent Solutions Wealth Management LLC Has $1.05 Million Stock Holdings in Snap-on Incorporated (NYSE:SNA)

Independent Solutions Wealth Management LLC decreased its position in shares of Snap-on Incorporated (NYSE:SNA) by 5.5% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,635 shares of the company’s stock after selling 213 shares during the period. Independent Solutions Wealth Management LLC’s holdings in Snap-on were worth $1,053,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Aurora Investment Counsel raised its position in Snap-on by 0.9% in the 3rd quarter. Aurora Investment Counsel now owns 3,549 shares of the company’s stock valued at $1,028,000 after purchasing an additional 30 shares during the last quarter. Lake Street Advisors Group LLC raised its holdings in shares of Snap-on by 3.1% in the third quarter. Lake Street Advisors Group LLC now owns 1,074 shares of the company’s stock valued at $311,000 after buying an additional 32 shares during the last quarter. Metis Global Partners LLC lifted its position in Snap-on by 1.9% during the 3rd quarter. Metis Global Partners LLC now owns 1,691 shares of the company’s stock worth $490,000 after buying an additional 32 shares in the last quarter. Tradition Wealth Management LLC grew its holdings in Snap-on by 3.1% during the 3rd quarter. Tradition Wealth Management LLC now owns 1,154 shares of the company’s stock worth $334,000 after acquiring an additional 35 shares during the last quarter. Finally, Verdence Capital Advisors LLC increased its position in Snap-on by 2.5% in the 3rd quarter. Verdence Capital Advisors LLC now owns 1,526 shares of the company’s stock valued at $442,000 after acquiring an additional 37 shares in the last quarter. 84.88% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, VP Iain Boyd sold 6,044 shares of the firm’s stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $298.99, for a total transaction of $1,807,095.56. Following the transaction, the vice president now directly owns 10,493 shares of the company’s stock, valued at approximately $3,137,302.07. This trade represents a 36.55 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Richard Thomas Miller sold 1,750 shares of the firm’s stock in a transaction on Friday, October 18th. The stock was sold at an average price of $330.00, for a total value of $577,500.00. Following the transaction, the vice president now owns 3,218 shares in the company, valued at approximately $1,061,940. This trade represents a 35.23 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 45,814 shares of company stock worth $15,627,963. 4.10% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several research firms have recently commented on SNA. Robert W. Baird increased their price target on shares of Snap-on from $290.00 to $347.00 and gave the company a “neutral” rating in a research note on Friday, October 18th. Bank of America raised their price objective on shares of Snap-on from $255.00 to $280.00 and gave the company an “underperform” rating in a research note on Friday, October 18th. Roth Mkm upped their target price on shares of Snap-on from $324.00 to $365.00 and gave the company a “buy” rating in a research report on Tuesday, October 22nd. Tigress Financial raised their price target on Snap-on from $336.00 to $385.00 and gave the stock a “buy” rating in a research report on Friday, October 25th. Finally, Barrington Research upped their price objective on Snap-on from $325.00 to $350.00 and gave the company an “outperform” rating in a report on Thursday, October 17th. 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 company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $345.40.

Snap-on Stock Up 0.3 %

Shares of SNA traded up $0.92 on Thursday, hitting $339.19. The company’s stock had a trading volume of 127,383 shares, compared to its average volume of 313,500. The firm’s fifty day moving average price is $343.31 and its 200-day moving average price is $298.56. Snap-on Incorporated has a fifty-two week low of $252.98 and a fifty-two week high of $373.89. 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 has a market capitalization of $17.81 billion, a price-to-earnings ratio of 17.46, a P/E/G ratio of 2.35 and a beta of 0.98.

Snap-on (NYSE:SNA) last issued its quarterly earnings results on Thursday, October 17th. The company reported $4.70 EPS for the quarter, beating analysts’ consensus estimates of $4.58 by $0.12. The company had revenue of $1.15 billion for the quarter, compared to analyst estimates of $1.16 billion. Snap-on had a return on equity of 19.44% and a net margin of 22.13%. On average, equities research analysts expect that Snap-on Incorporated will post 19.05 EPS for the current year.

Snap-on Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Thursday, November 21st were issued a $2.14 dividend. The ex-dividend date of this dividend was Thursday, November 21st. This is an increase from Snap-on’s previous quarterly dividend of $1.86. This represents a $8.56 dividend on an annualized basis and a dividend yield of 2.52%. Snap-on’s dividend payout ratio (DPR) is 44.06%.

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.