Reston Wealth Management LLC Takes Position in Snap-on Incorporated (NYSE:SNA)

Reston Wealth Management LLC purchased a new stake in shares of Snap-on Incorporated (NYSE:SNA) in the third quarter, HoldingsChannel reports. The institutional investor purchased 103 shares of the company’s stock, valued at approximately $30,000.

A number of other hedge funds also recently made changes to their positions in SNA. US Bancorp DE raised its stake in shares of Snap-on by 2.0% during the third quarter. US Bancorp DE now owns 33,492 shares of the company’s stock worth $9,704,000 after acquiring an additional 656 shares in the last quarter. HM Payson & Co. bought a new stake in Snap-on in the 3rd quarter worth $89,000. Financial Advocates Investment Management grew its stake in shares of Snap-on by 2.6% in the third quarter. Financial Advocates Investment Management now owns 3,449 shares of the company’s stock worth $999,000 after purchasing an additional 89 shares during the last quarter. Pinnacle Associates Ltd. purchased a new position in shares of Snap-on during the third quarter valued at approximately $214,000. Finally, First Trust Direct Indexing L.P. raised its stake in Snap-on by 11.6% in the third quarter. First Trust Direct Indexing L.P. now owns 1,348 shares of the company’s stock worth $391,000 after buying an additional 140 shares in the last quarter. 84.88% of the stock is owned by institutional investors.

Insider Transactions at Snap-on

In related news, CFO Aldo John Pagliari sold 4,473 shares of the firm’s stock in a transaction that occurred on Thursday, August 22nd. The shares were sold at an average price of $278.74, for a total value of $1,246,804.02. Following the sale, the chief financial officer now owns 99,244 shares in the company, valued at approximately $27,663,272.56. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Snap-on news, CFO Aldo John Pagliari sold 4,473 shares of the firm’s stock in a transaction dated Thursday, August 22nd. The stock was sold at an average price of $278.74, for a total value of $1,246,804.02. Following the transaction, the chief financial officer now directly owns 99,244 shares of the company’s stock, valued at approximately $27,663,272.56. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Thomas J. Ward sold 12,737 shares of the company’s stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $333.21, for a total transaction of $4,244,095.77. Following the sale, the senior vice president now directly owns 55,401 shares of the company’s stock, valued at $18,460,167.21. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 50,335 shares of company stock worth $14,706,082 over the last three months. 4.10% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

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

Snap-on Trading Up 0.0 %

Snap-on stock opened at $330.29 on Friday. Snap-on Incorporated has a one year low of $252.98 and a one year high of $337.72. The business’s fifty day moving average is $293.80 and its 200 day moving average is $279.04. The stock has a market capitalization of $17.34 billion, a PE ratio of 17.00, a price-to-earnings-growth ratio of 2.20 and a beta of 0.98. 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 announced that its board has approved a stock repurchase program on Thursday, August 8th that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the company to repurchase up to 3.5% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board of directors believes its stock is undervalued.

Snap-on Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Monday, August 19th were issued a dividend of $1.86 per share. This represents a $7.44 dividend on an annualized basis and a dividend yield of 2.25%. The ex-dividend date was Monday, August 19th. Snap-on’s payout ratio is presently 38.29%.

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.