Snap-on Incorporated (NYSE:SNA) Shares Purchased by HighTower Advisors LLC

HighTower Advisors LLC increased its position in shares of Snap-on Incorporated (NYSE:SNA - Free Report) by 3.8% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 48,220 shares of the company's stock after buying an additional 1,779 shares during the period. HighTower Advisors LLC owned 0.09% of Snap-on worth $13,967,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of SNA. Opal Wealth Advisors LLC bought a new position in shares of Snap-on in the second quarter worth about $30,000. Reston Wealth Management LLC bought a new position in shares of Snap-on in the 3rd quarter worth $30,000. Innealta Capital LLC bought a new position in Snap-on during the 2nd quarter valued at $32,000. Massmutual Trust Co. FSB ADV lifted its stake in 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 in the last quarter. Finally, Brooklyn Investment Group bought a new stake in shares of Snap-on during the 3rd quarter worth $39,000. 84.88% of the stock is currently owned by institutional investors and hedge funds.

Snap-on Stock Performance

SNA stock traded down $3.59 during trading on Friday, reaching $357.77. The stock had a trading volume of 432,972 shares, compared to its average volume of 348,316. Snap-on Incorporated has a 52 week low of $252.98 and a 52 week high of $373.89. The stock's 50 day moving average is $334.08 and its two-hundred day moving average is $294.41. The company has a current ratio of 4.18, a quick ratio of 3.14 and a debt-to-equity ratio of 0.22. The firm has a market cap of $18.79 billion, a PE ratio of 18.41, a PEG ratio of 2.40 and a beta of 0.98.

Snap-on (NYSE:SNA - Get Free Report) last released its earnings results 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. Snap-on had a return on equity of 19.44% and a net margin of 22.13%. The firm had revenue of $1.15 billion during the quarter, compared to analysts' expectations of $1.16 billion. As a group, equities analysts anticipate that Snap-on Incorporated will post 19.05 earnings per share for the current year.

Snap-on Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Thursday, November 21st will be paid a $2.14 dividend. This represents a $8.56 annualized dividend and a dividend yield of 2.39%. This is a positive change from Snap-on's previous quarterly dividend of $1.86. The ex-dividend date is Thursday, November 21st. Snap-on's dividend payout ratio (DPR) is presently 44.06%.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on SNA shares. Tigress Financial lifted their price objective on Snap-on from $336.00 to $385.00 and gave the stock a "buy" rating in a report on Friday, October 25th. Barrington Research lifted their price target on Snap-on from $325.00 to $350.00 and gave the company an "outperform" rating in a research report on Thursday, October 17th. Robert W. Baird boosted 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. Roth Mkm boosted their target price on Snap-on from $324.00 to $365.00 and gave the stock a "buy" rating in a research report on Tuesday, October 22nd. Finally, Bank of America boosted their price objective on Snap-on from $255.00 to $280.00 and gave the company an "underperform" rating in a research report on Friday, October 18th. 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 MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $345.40.

Insider Activity

In other news, SVP Thomas J. Ward sold 12,737 shares of Snap-on stock in a transaction on Monday, October 28th. The stock was sold at an average price of $333.21, for a total value of $4,244,095.77. Following the transaction, the senior vice president now directly owns 55,401 shares in the company, valued at approximately $18,460,167.21. This trade represents a 18.69 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, VP Iain Boyd sold 6,044 shares of the business's stock in a transaction on 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 approximately $3,137,302.07. This trade represents a 36.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 24,031 shares of company stock valued at $7,898,701 in the last ninety days. Insiders own 4.10% of the company's stock.

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.