770 Shares in Snap-on Incorporated (NYSE:SNA) Purchased by BIP Wealth LLC

BIP Wealth LLC bought a new stake in Snap-on Incorporated (NYSE:SNA) in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 770 shares of the company’s stock, valued at approximately $223,000.

Several other institutional investors also recently made changes to their positions in the stock. Lake Street Advisors Group LLC boosted its position in Snap-on by 3.1% during the 3rd quarter. Lake Street Advisors Group LLC now owns 1,074 shares of the company’s stock valued at $311,000 after purchasing an additional 32 shares during the period. Metis Global Partners LLC lifted its stake in Snap-on by 1.9% in the third quarter. Metis Global Partners LLC now owns 1,691 shares of the company’s stock valued at $490,000 after buying an additional 32 shares during the last quarter. Verdence Capital Advisors LLC boosted its holdings in shares of Snap-on by 2.5% during 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 period. TFB Advisors LLC grew its position in shares of Snap-on by 3.2% during the second 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 last quarter. Finally, Crestwood Advisors Group LLC increased its holdings 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 worth $1,089,000 after acquiring an additional 38 shares during the period. 84.88% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have commented on SNA shares. Roth Mkm upped their target price on shares of Snap-on from $324.00 to $365.00 and gave the stock a “buy” rating in a research report on Tuesday, October 22nd. Tigress Financial increased their price objective on Snap-on from $336.00 to $385.00 and gave the stock a “buy” rating in a report on Friday, October 25th. Robert W. Baird lifted their target price on 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 boosted their price target on Snap-on from $255.00 to $280.00 and gave the stock an “underperform” rating in a research report on Friday, October 18th. Finally, Barrington Research raised their price target on Snap-on from $325.00 to $350.00 and gave the company an “outperform” rating in a report on Thursday, October 17th. One analyst has rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $345.40.

Snap-on Price Performance

Shares of NYSE:SNA opened at $354.74 on Wednesday. The stock has a market cap of $18.63 billion, a price-to-earnings ratio of 18.26, a PEG ratio of 2.36 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. Snap-on Incorporated has a 12 month low of $252.98 and a 12 month high of $365.35. The stock’s 50 day moving average price is $312.62 and its 200 day moving average price is $286.42.

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

Snap-on Increases Dividend

The firm also recently disclosed 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. The ex-dividend date is Thursday, November 21st. This represents a $8.56 annualized dividend and a dividend yield of 2.41%. Snap-on’s dividend payout ratio (DPR) is 38.29%.

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

Insider Transactions at Snap-on

In other news, CFO Aldo John Pagliari sold 4,473 shares of the firm’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 completion of the sale, the chief financial officer now directly owns 99,244 shares of the company’s stock, valued at $27,663,272.56. This trade represents a 4.31 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Iain Boyd sold 6,044 shares of the business’s stock in a transaction on Tuesday, October 15th. The stock was 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 $3,137,302.07. This trade represents a 36.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 26,190 shares of company stock valued at $8,212,284 in the last quarter. Insiders own 4.10% of the company’s stock.

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.