Benjamin Edwards Inc. Has $45.81 Million Stock Position in Snap-on Incorporated (NYSE:SNA)

Benjamin Edwards Inc. raised its position in Snap-on Incorporated (NYSE:SNA) by 2,691.2% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 158,092 shares of the company’s stock after acquiring an additional 152,428 shares during the period. Benjamin Edwards Inc. owned approximately 0.30% of Snap-on worth $45,810,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Atria Investments Inc increased its stake in Snap-on by 55.6% during the 1st quarter. Atria Investments Inc now owns 6,604 shares of the company’s stock valued at $1,956,000 after purchasing an additional 2,359 shares in the last quarter. Cetera Investment Advisers lifted its position in Snap-on by 548.7% in the 1st quarter. Cetera Investment Advisers now owns 45,023 shares of the company’s stock valued at $13,337,000 after acquiring an additional 38,083 shares in the last quarter. Cetera Advisors LLC lifted its position in Snap-on by 41.4% in the 1st quarter. Cetera Advisors LLC now owns 10,311 shares of the company’s stock valued at $3,054,000 after acquiring an additional 3,018 shares in the last quarter. GAMMA Investing LLC increased its holdings in Snap-on by 25.1% during the 2nd quarter. GAMMA Investing LLC now owns 519 shares of the company’s stock worth $136,000 after purchasing an additional 104 shares in the last quarter. Finally, DNB Asset Management AS lifted its holdings in shares of Snap-on by 4.4% in the second quarter. DNB Asset Management AS now owns 13,365 shares of the company’s stock valued at $3,493,000 after purchasing an additional 569 shares in the last quarter. Institutional investors own 84.88% of the company’s stock.

Insider Buying and Selling

In related news, SVP Thomas J. Ward sold 12,737 shares of the firm’s 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 transaction, the senior vice president now directly owns 55,401 shares in the company, valued at $18,460,167.21. This trade represents a 18.69 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Richard Thomas Miller sold 1,750 shares of Snap-on stock in a transaction on Friday, October 18th. The stock was sold at an average price of $330.00, for a total transaction of $577,500.00. Following the completion of the transaction, the vice president now directly owns 3,218 shares in the company, valued at approximately $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. Over the last quarter, insiders have sold 20,531 shares of company stock worth $6,628,691. Corporate insiders own 4.10% of the company’s stock.

Snap-on Stock Up 0.1 %

Shares of NYSE SNA opened at $369.69 on Monday. 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 stock has a market capitalization of $19.41 billion, a PE ratio of 19.03, a P/E/G ratio of 2.45 and a beta of 0.96. Snap-on Incorporated has a one year low of $252.98 and a one year high of $373.89. The business’s fifty day moving average price is $326.41 and its 200-day moving average price is $291.33.

Snap-on (NYSE:SNA) last announced 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. Snap-on had a net margin of 22.13% and a return on equity of 19.44%. The company had revenue of $1.15 billion for the quarter, compared to analysts’ expectations of $1.16 billion. On average, equities research analysts anticipate that Snap-on Incorporated will post 19.05 EPS for the current year.

Snap-on declared that its Board of Directors has approved a stock buyback program on Thursday, August 8th that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the company to purchase up to 3.5% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s management believes its shares are undervalued.

Snap-on Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Thursday, November 21st will be given a dividend of $2.14 per share. This is a positive change 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 2.32%. The ex-dividend date is Thursday, November 21st. Snap-on’s payout ratio is 44.06%.

Wall Street Analysts Forecast Growth

SNA has been the topic of several analyst reports. Robert W. Baird boosted their price target on shares of Snap-on from $290.00 to $347.00 and gave the stock a “neutral” rating in a report on Friday, October 18th. Tigress Financial lifted their price target on Snap-on from $336.00 to $385.00 and gave the stock a “buy” rating in a report on Friday, October 25th. Bank of America upped their price objective on Snap-on from $255.00 to $280.00 and gave the company an “underperform” rating in a research note on Friday, October 18th. Barrington Research lifted their target price on Snap-on from $325.00 to $350.00 and gave the stock an “outperform” rating in a research note on Thursday, October 17th. Finally, Roth Mkm increased their price target 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. One analyst has rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the stock 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.