Raymond James & Associates Buys 16,485 Shares of Snap-on Incorporated (NYSE:SNA)

Raymond James & Associates grew its stake in shares of Snap-on Incorporated (NYSE:SNA - Free Report) by 4.7% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 367,464 shares of the company's stock after acquiring an additional 16,485 shares during the quarter. Raymond James & Associates owned about 0.70% of Snap-on worth $106,458,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Opal Wealth Advisors LLC purchased a new position in shares of Snap-on in the second quarter worth $30,000. Innealta Capital LLC purchased a new position in Snap-on in the 2nd quarter worth about $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 during the period. Quarry LP boosted its holdings in shares of Snap-on by 244.7% during the 2nd quarter. Quarry LP now owns 162 shares of the company's stock valued at $42,000 after acquiring an additional 115 shares during the last quarter. Finally, Fidelis Capital Partners LLC bought a new stake in shares of Snap-on in the first quarter worth approximately $56,000. Hedge funds and other institutional investors own 84.88% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the stock. Robert W. Baird raised their target price on shares of Snap-on from $290.00 to $347.00 and gave the stock a "neutral" rating in a report on Friday. Barrington Research lifted their price objective on Snap-on from $325.00 to $350.00 and gave the stock an "outperform" rating in a report on Thursday. Bank of America raised their target price on Snap-on from $255.00 to $280.00 and gave the stock an "underperform" rating in a research report on Friday. Roth Mkm reaffirmed a "buy" rating and set a $324.00 price target on shares of Snap-on in a research report on Tuesday, July 16th. Finally, Tigress Financial restated a "buy" rating and set a $336.00 target price on shares of Snap-on in a research report on Thursday, July 25th. One analyst has rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the company's stock. According to MarketBeat.com, Snap-on presently has a consensus rating of "Hold" and an average price target of $327.40.

Insider Buying and Selling

In other Snap-on news, VP Iain Boyd sold 6,044 shares of the company's stock in a transaction that occurred 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 completion of the transaction, the vice president now directly owns 10,493 shares in the company, valued at $3,137,302.07. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other 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 sale, the vice president now directly owns 10,493 shares of the company's stock, valued at approximately $3,137,302.07. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Aldo John Pagliari sold 4,473 shares of the stock in a transaction that occurred on Thursday, August 22nd. The shares were sold at an average price of $278.74, for a total value of $1,246,804.02. Following the transaction, the chief financial officer now directly 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. Over the last 90 days, insiders sold 35,848 shares of company stock worth $9,884,486. 4.10% of the stock is owned by corporate insiders.

Snap-on Stock Performance

Shares of NYSE SNA traded down $0.14 during trading on Monday, hitting $325.95. The company had a trading volume of 345,815 shares, compared to its average volume of 302,307. Snap-on Incorporated has a 12 month low of $249.84 and a 12 month high of $330.51. The company has a debt-to-equity ratio of 0.22, a quick ratio of 3.05 and a current ratio of 4.18. The firm has a market capitalization of $17.17 billion, a P/E ratio of 16.66, a price-to-earnings-growth ratio of 2.26 and a beta of 0.98. The stock has a 50 day simple moving average of $284.18 and a 200 day simple moving average of $276.57.

Snap-on (NYSE:SNA - Get Free Report) last issued its earnings results on Thursday, July 18th. The company reported $5.07 earnings per share for the quarter, topping the consensus estimate of $4.94 by $0.13. Snap-on had a net margin of 22.13% and a return on equity of 19.44%. The company had revenue of $1.18 billion during the quarter, compared to the consensus estimate of $1.20 billion. During the same quarter in the prior year, the firm posted $4.89 EPS. Snap-on's quarterly revenue was down 1.0% compared to the same quarter last year. As a group, analysts anticipate that Snap-on Incorporated will post 18.95 earnings per share for the current year.

Snap-on Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Monday, August 19th were paid a $1.86 dividend. This represents a $7.44 dividend on an annualized basis and a dividend yield of 2.28%. The ex-dividend date of this dividend was Monday, August 19th. Snap-on's dividend payout ratio (DPR) is 38.29%.

Snap-on announced that its board has authorized a share repurchase program on Thursday, August 8th that allows the company to repurchase $500.00 million in outstanding shares. This repurchase authorization allows the company to repurchase up to 3.5% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company's leadership believes its stock is undervalued.

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.