TrinityPoint Wealth LLC Grows Stake in Snap-on Incorporated (NYSE:SNA)

TrinityPoint Wealth LLC boosted its stake in Snap-on Incorporated (NYSE:SNA) by 3.6% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 4,131 shares of the company’s stock after acquiring an additional 145 shares during the period. TrinityPoint Wealth LLC’s holdings in Snap-on were worth $1,197,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in SNA. Lake Street Advisors Group LLC raised 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 worth $311,000 after buying an additional 32 shares during the last quarter. Metis Global Partners LLC increased its position in Snap-on by 1.9% during the third quarter. Metis Global Partners LLC now owns 1,691 shares of the company’s stock worth $490,000 after buying an additional 32 shares in the last quarter. Verdence Capital Advisors LLC lifted its holdings in Snap-on by 2.5% in the 3rd quarter. Verdence Capital Advisors LLC now owns 1,526 shares of the company’s stock valued at $442,000 after purchasing an additional 37 shares in the last quarter. TFB Advisors LLC lifted its stake 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 valued at $320,000 after buying an additional 38 shares during the period. Finally, Crestwood Advisors Group LLC boosted its holdings in shares of Snap-on by 1.0% during the third quarter. Crestwood Advisors Group LLC now owns 3,759 shares of the company’s stock worth $1,089,000 after purchasing an additional 38 shares during the last quarter. 84.88% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Snap-on

In related news, CFO Aldo John Pagliari sold 4,473 shares of Snap-on 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 completion of the sale, the chief financial officer now directly owns 99,244 shares in the company, valued at $27,663,272.56. This trade represents a 4.31 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP June C. Lemerand sold 1,186 shares of the company’s stock in a transaction on Monday, August 26th. The shares were sold at an average price of $283.97, for a total transaction of $336,788.42. Following the sale, the vice president now owns 2,283 shares of the company’s stock, valued at $648,303.51. The trade was a 34.19 % decrease in their position. 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 three months. 4.10% of the stock is owned by corporate insiders.

Snap-on Stock Down 0.2 %

Shares of Snap-on stock opened at $357.06 on Monday. The company has a quick ratio of 3.14, a current ratio of 4.18 and a debt-to-equity ratio of 0.22. The stock has a 50 day moving average price of $309.42 and a two-hundred day moving average price of $285.19. The stock has a market capitalization of $18.75 billion, a P/E ratio of 18.38, a PEG ratio of 2.36 and a beta of 0.96. Snap-on Incorporated has a 12-month low of $252.98 and a 12-month high of $365.35.

Snap-on (NYSE:SNA) last posted its quarterly earnings data on Thursday, October 17th. The company reported $4.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.58 by $0.12. The company had revenue of $1.15 billion for 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%. Equities analysts expect that Snap-on Incorporated will post 19.05 earnings per share for the current year.

Snap-on declared that its board has authorized a stock buyback plan on Thursday, August 8th that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the company to buy up to 3.5% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s leadership 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. Shareholders of record on Thursday, November 21st will be given a $2.14 dividend. The ex-dividend date of this dividend is Thursday, November 21st. 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 yield of 2.40%. Snap-on’s payout ratio is 38.29%.

Wall Street Analyst Weigh In

A number of research analysts have commented on the company. Bank of America boosted their price objective on Snap-on from $255.00 to $280.00 and gave the stock an “underperform” rating in a research note on Friday, October 18th. Robert W. Baird boosted their price objective on Snap-on from $290.00 to $347.00 and gave the company a “neutral” rating in a report on Friday, October 18th. Roth Mkm increased their target price on shares of Snap-on from $324.00 to $365.00 and gave the stock a “buy” rating in a report on Tuesday, October 22nd. Barrington Research raised 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, Tigress Financial boosted their target price on shares of Snap-on from $336.00 to $385.00 and gave the company a “buy” rating in a research note on Friday, October 25th. 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 stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target 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.