Benjamin Edwards Inc. Raises Holdings in Snap-on Incorporated (NYSE:SNA)

Benjamin Edwards Inc. raised its position in Snap-on Incorporated (NYSE:SNA - Free Report) by 2,691.2% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 158,092 shares of the company's stock after acquiring an additional 152,428 shares during the quarter. Benjamin Edwards Inc. owned approximately 0.30% of Snap-on worth $45,810,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Aurora Investment Counsel boosted its position in Snap-on by 0.9% during the 3rd quarter. Aurora Investment Counsel now owns 3,549 shares of the company's stock valued at $1,028,000 after acquiring an additional 30 shares in the last quarter. Lake Street Advisors Group LLC boosted its holdings in shares of 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 acquiring an additional 32 shares during the last quarter. Metis Global Partners LLC grew its stake in shares of Snap-on by 1.9% during the 3rd quarter. Metis Global Partners LLC now owns 1,691 shares of the company's stock valued at $490,000 after acquiring an additional 32 shares during the period. Tradition Wealth Management LLC lifted its holdings in Snap-on by 3.1% during the third quarter. Tradition Wealth Management LLC now owns 1,154 shares of the company's stock valued at $334,000 after purchasing an additional 35 shares in the last quarter. Finally, Verdence Capital Advisors LLC raised its holdings in 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. 84.88% of the stock is owned by institutional investors.

Insider Transactions at Snap-on

In other Snap-on news, VP Iain Boyd sold 6,044 shares of Snap-on stock in a transaction dated 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 transaction, the vice president now owns 10,493 shares in the company, valued at $3,137,302.07. The trade was a 36.55 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Richard Thomas Miller sold 1,750 shares of the stock in a transaction dated Friday, October 18th. The shares were sold at an average price of $330.00, for a total transaction of $577,500.00. Following the sale, the vice president now directly owns 3,218 shares of the company's stock, 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. In the last quarter, insiders sold 20,531 shares of company stock valued at $6,628,691. Company insiders own 4.10% of the company's stock.

Snap-on Trading Down 0.8 %

SNA traded down $2.81 during trading hours on Monday, reaching $366.88. 327,525 shares of the company's stock traded hands, compared to its average volume of 312,334. 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 firm has a 50-day moving average price of $326.41 and a 200 day moving average price of $291.41. Snap-on Incorporated has a 52-week low of $252.98 and a 52-week high of $373.89. The firm has a market capitalization of $19.26 billion, a PE ratio of 18.92, a PEG ratio of 2.45 and a beta of 0.96.

Snap-on (NYSE:SNA - Get Free Report) last issued its earnings results 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 net margin of 22.13% and a return on equity of 19.44%. The business had revenue of $1.15 billion for the quarter, compared to analyst estimates of $1.16 billion. As a group, sell-side analysts predict that Snap-on Incorporated will post 19.05 EPS for the current fiscal year.

Snap-on announced that its Board of Directors has approved a stock repurchase plan on Thursday, August 8th that allows the company to buyback $500.00 million in shares. This buyback authorization allows the company to buy up to 3.5% of its stock through open market purchases. Stock buyback plans are generally an indication that the company's management believes its stock is undervalued.

Snap-on Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Thursday, November 21st will be given a dividend of $2.14 per share. This is an increase from Snap-on's previous quarterly dividend of $1.86. The ex-dividend date is Thursday, November 21st. This represents a $8.56 dividend on an annualized basis and a yield of 2.33%. Snap-on's dividend payout ratio (DPR) is 44.06%.

Analyst Ratings Changes

SNA has been the topic of a number of research reports. Barrington Research boosted 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. Robert W. Baird boosted their target price on Snap-on from $290.00 to $347.00 and gave the company a "neutral" rating in a research report on Friday, October 18th. Roth Mkm increased their price target on Snap-on from $324.00 to $365.00 and gave the company a "buy" rating in a report on Tuesday, October 22nd. Bank of America boosted their price objective on shares of Snap-on from $255.00 to $280.00 and gave the company an "underperform" rating in a research report on Friday, October 18th. Finally, Tigress Financial raised their target price on shares of Snap-on from $336.00 to $385.00 and gave the stock a "buy" rating in a report on Friday, October 25th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently 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.