CWA Asset Management Group LLC Invests $1.18 Million in Snap-on Incorporated (NYSE:SNA)

CWA Asset Management Group LLC acquired a new stake in Snap-on Incorporated (NYSE:SNA - Free Report) in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund acquired 4,054 shares of the company's stock, valued at approximately $1,175,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Opal Wealth Advisors LLC purchased a new stake in shares of Snap-on in the second quarter worth $30,000. Reston Wealth Management LLC purchased a new stake in shares of Snap-on in the third quarter worth $30,000. Innealta Capital LLC purchased a new stake in shares of Snap-on in the second quarter worth $32,000. Massmutual Trust Co. FSB ADV grew its stake in shares of Snap-on by 53.0% in the third quarter. Massmutual Trust Co. FSB ADV now owns 127 shares of the company's stock worth $37,000 after acquiring an additional 44 shares during the last quarter. Finally, Quarry LP grew its stake in shares of Snap-on by 244.7% in the second quarter. Quarry LP now owns 162 shares of the company's stock worth $42,000 after acquiring an additional 115 shares during the last quarter. 84.88% of the stock is owned by hedge funds and other institutional investors.

Snap-on Price Performance

Shares of Snap-on stock traded up $2.93 during mid-day trading on Monday, reaching $362.20. 204,397 shares of the stock traded hands, compared to its average volume of 307,069. The business has a 50-day moving average of $301.16 and a 200 day moving average of $282.03. Snap-on Incorporated has a fifty-two week low of $252.98 and a fifty-two week high of $363.20. The stock has a market capitalization of $19.02 billion, a PE ratio of 18.49, a PEG ratio of 2.38 and a beta of 0.96. The company has a quick ratio of 3.14, a current ratio of 4.18 and a debt-to-equity ratio of 0.22.

Snap-on (NYSE:SNA - Get Free Report) last released its quarterly earnings results on Thursday, October 17th. The company reported $4.70 EPS for the quarter, topping the consensus estimate of $4.58 by $0.12. The business had revenue of $1.15 billion during the quarter, compared to analyst estimates of $1.16 billion. Snap-on had a return on equity of 19.44% and a net margin of 22.13%. On average, analysts predict that Snap-on Incorporated will post 19.05 EPS for the current year.

Snap-on Increases Dividend

The company also recently announced 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. The ex-dividend date is Thursday, November 21st. This represents a $8.56 dividend on an annualized basis and a dividend yield of 2.36%. This is a boost from Snap-on's previous quarterly dividend of $1.86. Snap-on's payout ratio is 38.29%.

Snap-on declared that its board has authorized a share repurchase plan 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 shares through open market purchases. Shares repurchase plans are often an indication that the company's board of directors believes its stock is undervalued.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on SNA. Barrington Research upped 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. Bank of America increased their target price on Snap-on from $255.00 to $280.00 and gave the company an "underperform" rating in a report on Friday, October 18th. Roth Mkm increased their target price on Snap-on from $324.00 to $365.00 and gave the company a "buy" rating in a report on Tuesday, October 22nd. Robert W. Baird increased their target price on Snap-on from $290.00 to $347.00 and gave the stock a "neutral" rating in a research report on Friday, October 18th. Finally, Tigress Financial increased their target price on Snap-on from $336.00 to $385.00 and gave the stock a "buy" rating in a research report on Friday, October 25th. One 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, the company currently has a consensus rating of "Hold" and an average price target of $345.40.

Insider Activity at Snap-on

In related news, CFO Aldo John Pagliari sold 4,473 shares of the company's stock in a transaction that occurred on 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 sale, the chief financial officer now owns 99,244 shares of the company's stock, valued at approximately $27,663,272.56. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, VP June C. Lemerand sold 1,186 shares of the company's stock in a transaction on Monday, August 26th. The stock was sold at an average price of $283.97, for a total transaction of $336,788.42. Following the completion of the sale, the vice president now directly owns 2,283 shares in the company, valued at $648,303.51. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CFO Aldo John Pagliari sold 4,473 shares of the company's stock in a transaction on 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 sale, the chief financial officer now owns 99,244 shares of the company's stock, valued at approximately $27,663,272.56. The trade was a 0.00 % 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 worth $8,212,284 in the last quarter. Company insiders own 4.10% of the company's stock.

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.