Snap-on Incorporated (NYSE:SNA) Shares Acquired by CreativeOne Wealth LLC

CreativeOne Wealth LLC boosted its position in Snap-on Incorporated (NYSE:SNA - Free Report) by 82.9% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,033 shares of the company's stock after purchasing an additional 1,375 shares during the period. CreativeOne Wealth LLC's holdings in Snap-on were worth $879,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. Opal Wealth Advisors LLC acquired a new stake in Snap-on in the second quarter valued at about $30,000. Reston Wealth Management LLC acquired a new stake in shares of Snap-on during the 3rd quarter valued at approximately $30,000. Innealta Capital LLC acquired a new stake in shares of Snap-on during the 2nd quarter valued at 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 valued at $37,000 after acquiring an additional 44 shares during the period. Finally, Brooklyn Investment Group acquired a new stake in shares of Snap-on during the 3rd quarter valued at approximately $39,000. Institutional investors and hedge funds own 84.88% of the company's stock.

Insiders Place Their Bets

In other Snap-on news, SVP Thomas J. Ward sold 12,737 shares of Snap-on stock in a transaction that occurred on Monday, October 28th. The shares were sold at an average price of $333.21, for a total value of $4,244,095.77. Following the completion of the sale, the senior vice president now directly owns 55,401 shares of the company's stock, valued at approximately $18,460,167.21. The trade was a 18.69 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Iain Boyd sold 6,044 shares of Snap-on stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $298.99, for a total transaction of $1,807,095.56. Following the completion of the sale, the vice president now directly owns 10,493 shares of the company's stock, valued at $3,137,302.07. The trade was a 36.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 20,531 shares of company stock valued at $6,628,691. Company insiders own 4.10% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. Bank of America lifted their price target 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. Barrington Research lifted their price target on shares of Snap-on from $325.00 to $350.00 and gave the company an "outperform" rating in a research report on Thursday, October 17th. Roth Mkm lifted their price target on shares of Snap-on from $324.00 to $365.00 and gave the company a "buy" rating in a research report on Tuesday, October 22nd. Robert W. Baird lifted their price target on shares of Snap-on from $290.00 to $347.00 and gave the company a "neutral" rating in a research report on Friday, October 18th. Finally, Tigress Financial raised their price objective 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. One research analyst has rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $345.40.

Snap-on Price Performance

Shares of SNA traded up $0.46 during mid-day trading on Friday, reaching $369.69. 181,224 shares of the company's stock were exchanged, compared to its average volume of 312,268. 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 company has a 50-day simple moving average of $326.41 and a two-hundred day simple moving average of $291.25. Snap-on Incorporated has a 52-week low of $252.98 and a 52-week high of $373.89. The company has a market cap of $19.41 billion, a price-to-earnings ratio of 19.03, a PEG ratio of 2.44 and a beta of 0.96.

Snap-on (NYSE:SNA - Get Free Report) last issued its quarterly earnings data on Thursday, October 17th. The company reported $4.70 earnings per share 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 during the quarter, compared to analysts' expectations of $1.16 billion. On average, 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 initiated a stock buyback plan on Thursday, August 8th that authorizes the company to buyback $500.00 million in shares. This buyback authorization authorizes the company to purchase up to 3.5% of its shares through open market purchases. Shares buyback plans are often a sign that the company's leadership believes its shares are undervalued.

Snap-on Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Thursday, November 21st will be paid a $2.14 dividend. This is a boost from Snap-on's previous quarterly dividend of $1.86. This represents a $8.56 annualized dividend and a yield of 2.32%. The ex-dividend date of this dividend is Thursday, November 21st. Snap-on's payout ratio is presently 44.06%.

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.