Main Street Financial Solutions LLC Has $268,000 Stock Position in Snap-on Incorporated (NYSE:SNA)

Main Street Financial Solutions LLC lifted its position in shares of Snap-on Incorporated (NYSE:SNA) by 6.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 924 shares of the company’s stock after purchasing an additional 60 shares during the quarter. Main Street Financial Solutions LLC’s holdings in Snap-on were worth $268,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Lake Street Advisors Group LLC grew its position in shares of Snap-on by 3.1% during the 3rd quarter. Lake Street Advisors Group LLC now owns 1,074 shares of the company’s stock worth $311,000 after buying an additional 32 shares during the period. Verdence Capital Advisors LLC boosted its stake in Snap-on by 2.5% in the third 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 during the last quarter. TFB Advisors LLC grew its holdings in Snap-on by 3.2% during the 2nd quarter. TFB Advisors LLC now owns 1,226 shares of the company’s stock worth $320,000 after acquiring an additional 38 shares during the period. Crestwood Advisors Group LLC lifted its stake in shares of Snap-on by 1.0% in the 3rd quarter. Crestwood Advisors Group LLC now owns 3,759 shares of the company’s stock valued at $1,089,000 after purchasing an additional 38 shares during the period. Finally, Financial Advocates Investment Management boosted its position in shares of Snap-on by 1.2% in the 2nd quarter. Financial Advocates Investment Management now owns 3,360 shares of the company’s stock worth $878,000 after purchasing an additional 39 shares during the last quarter. 84.88% of the stock is currently owned by institutional investors.

Snap-on Price Performance

SNA stock opened at $357.79 on Friday. The stock has a market cap of $18.79 billion, a price-to-earnings ratio of 18.41, a P/E/G ratio of 2.39 and a beta of 0.96. 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 50 day simple moving average of $307.70 and a 200 day simple moving average of $284.36. Snap-on Incorporated has a 1 year low of $252.98 and a 1 year high of $365.35.

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

Snap-on Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Thursday, November 21st will be issued a $2.14 dividend. This is a positive change from Snap-on’s previous quarterly dividend of $1.86. The ex-dividend date of this dividend is Thursday, November 21st. This represents a $8.56 annualized dividend and a yield of 2.39%. Snap-on’s payout ratio is presently 38.29%.

Snap-on announced that its board has authorized a share buyback program on Thursday, August 8th that allows the company to repurchase $500.00 million in outstanding shares. This repurchase authorization allows the company to buy up to 3.5% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.

Analyst Ratings Changes

SNA has been the topic of a number of recent analyst reports. Bank of America raised their target price on Snap-on from $255.00 to $280.00 and gave the stock an “underperform” rating in a report on Friday, October 18th. Roth Mkm lifted their price target 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. Tigress Financial increased their price objective on Snap-on from $336.00 to $385.00 and gave the company a “buy” rating in a report on Friday, October 25th. Barrington Research lifted their price target on Snap-on from $325.00 to $350.00 and gave the stock an “outperform” rating in a report on Thursday, October 17th. Finally, Robert W. Baird upped their price objective on shares of Snap-on from $290.00 to $347.00 and gave the company a “neutral” rating in a report on Friday, October 18th. 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 company. According to MarketBeat.com, Snap-on presently has a consensus rating of “Hold” and a consensus target price of $345.40.

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 on Monday, October 28th. The shares were sold at an average price of $333.21, for a total value of $4,244,095.77. Following the completion of the sale, the senior vice president now owns 55,401 shares of the company’s stock, valued at approximately $18,460,167.21. This trade represents a 18.69 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Aldo John Pagliari sold 4,473 shares of the company’s stock in a transaction on Thursday, August 22nd. The stock was sold at an average price of $278.74, for a total transaction of $1,246,804.02. Following the transaction, the chief financial officer now owns 99,244 shares in the company, valued at approximately $27,663,272.56. The trade was a 4.31 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 26,190 shares of company stock valued at $8,212,284. 4.10% of the stock is currently owned by insiders.

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.