Texas Capital Bank Wealth Management Services Inc Purchases Shares of 933 Snap-on Incorporated (NYSE:SNA)

Texas Capital Bank Wealth Management Services Inc acquired a new stake in Snap-on Incorporated (NYSE:SNA) in the 3rd quarter, HoldingsChannel reports. The fund acquired 933 shares of the company’s stock, valued at approximately $270,000.

Several other hedge funds and other institutional investors have also made changes to their positions in SNA. Reston Wealth Management LLC purchased a new position in Snap-on in the third quarter worth approximately $30,000. Opal Wealth Advisors LLC purchased a new stake in shares of Snap-on during the 2nd quarter worth approximately $30,000. Innealta Capital LLC purchased a new stake in shares of Snap-on during the 2nd quarter worth approximately $32,000. Massmutual Trust Co. FSB ADV lifted its position in shares of Snap-on by 53.0% during the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 127 shares of the company’s stock worth $37,000 after buying an additional 44 shares during the last quarter. Finally, Brooklyn Investment Group purchased a new stake in shares of Snap-on during the 3rd quarter worth approximately $39,000. Hedge funds and other institutional investors own 84.88% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. Robert W. Baird boosted their price objective on shares of Snap-on from $290.00 to $347.00 and gave the stock a “neutral” rating in a research report on Friday, October 18th. Roth Mkm lifted their target price on shares of Snap-on from $324.00 to $365.00 and gave the company a “buy” rating in a report on Tuesday, October 22nd. Barrington Research lifted their target price on shares of Snap-on from $325.00 to $350.00 and gave the company an “outperform” rating in a report on Thursday, October 17th. Tigress Financial lifted their target price 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. Finally, Bank of America lifted their target price on shares of Snap-on from $255.00 to $280.00 and gave the company an “underperform” rating in a report on Friday, October 18th. One research analyst has rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, Snap-on currently has an average rating of “Hold” and an average price target of $345.40.

Insider Activity

In other Snap-on news, VP Iain Boyd sold 6,044 shares of the business’s stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $298.99, for a total value of $1,807,095.56. Following the sale, the vice president now directly owns 10,493 shares in the company, valued at approximately $3,137,302.07. The trade was a 36.55 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP June C. Lemerand sold 3,500 shares of the business’s stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $362.86, for a total transaction of $1,270,010.00. Following the completion of the sale, the vice president now owns 2,289 shares in the company, valued at approximately $830,586.54. This trade represents a 60.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 24,031 shares of company stock worth $7,898,701. 4.10% of the stock is currently owned by insiders.

Snap-on Trading Down 1.0 %

NYSE SNA opened at $357.69 on Friday. Snap-on Incorporated has a 12 month low of $252.98 and a 12 month high of $373.89. The company has a 50-day moving average of $334.08 and a 200-day moving average of $294.16. 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 cap of $18.78 billion, a P/E ratio of 18.41, a P/E/G ratio of 2.40 and a beta of 0.98.

Snap-on (NYSE:SNA) last posted its earnings results on Thursday, October 17th. The company reported $4.70 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.58 by $0.12. The firm had revenue of $1.15 billion during the quarter, compared to the consensus estimate of $1.16 billion. Snap-on had a net margin of 22.13% and a return on equity of 19.44%. As a group, equities analysts predict that Snap-on Incorporated will post 19.05 earnings per share for the current year.

Snap-on Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Thursday, November 21st will be paid a dividend of $2.14 per share. This is a boost from Snap-on’s previous quarterly dividend of $1.86. This represents a $8.56 annualized dividend and a dividend yield of 2.39%. The ex-dividend date of this dividend is Thursday, November 21st. Snap-on’s dividend payout ratio 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.