Sheaff Brock Investment Advisors LLC Cuts Stock Holdings in Snap-on Incorporated (NYSE:SNA)

Sheaff Brock Investment Advisors LLC cut its holdings in shares of Snap-on Incorporated (NYSE:SNA - Free Report) by 35.9% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 3,240 shares of the company's stock after selling 1,818 shares during the quarter. Sheaff Brock Investment Advisors LLC's holdings in Snap-on were worth $939,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of SNA. Opal Wealth Advisors LLC acquired a new position in Snap-on during the second quarter worth $30,000. Reston Wealth Management LLC acquired a new position in Snap-on during the 3rd quarter worth about $30,000. Innealta Capital LLC purchased a new position in Snap-on during the 2nd quarter valued at about $32,000. Massmutual Trust Co. FSB ADV grew its position in Snap-on by 53.0% in 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, Quarry LP grew its position in Snap-on by 244.7% in the 2nd quarter. Quarry LP now owns 162 shares of the company's stock valued at $42,000 after acquiring an additional 115 shares in the last quarter. 84.88% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Snap-on news, SVP Thomas J. Ward sold 12,737 shares of Snap-on stock in a transaction 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 transaction, the senior vice president now directly owns 55,401 shares in the company, valued at approximately $18,460,167.21. The trade was a 18.69 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Richard Thomas Miller sold 1,750 shares of the firm's stock in a transaction dated Friday, October 18th. The stock was sold at an average price of $330.00, for a total value of $577,500.00. Following the transaction, the vice president now directly owns 3,218 shares in the company, valued at approximately $1,061,940. This represents a 35.23 % decrease in their position. 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. 4.10% of the stock is owned by insiders.

Snap-on Stock Down 0.2 %

Shares of NYSE SNA traded down $0.73 during midday trading on Friday, hitting $357.06. 342,493 shares of the company's stock were exchanged, compared to its average volume of 309,093. The firm's fifty day simple moving average is $309.42 and its 200-day simple moving average is $285.07. The company has a debt-to-equity ratio of 0.22, a current ratio of 4.18 and a quick ratio of 3.14. The company has a market cap of $18.75 billion, a PE ratio of 18.38, a P/E/G ratio of 2.39 and a beta of 0.96. Snap-on Incorporated has a twelve month low of $252.98 and a twelve month high of $365.35.

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 the consensus estimate 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 the consensus estimate of $1.16 billion. Research 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 authorized a stock buyback program on Thursday, August 8th that authorizes the company to buyback $500.00 million in shares. This buyback authorization authorizes the company to repurchase up to 3.5% of its shares through open market purchases. Shares buyback programs are typically an indication that the company's board of directors 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. Investors of record on Thursday, November 21st will be given a $2.14 dividend. The ex-dividend date is Thursday, November 21st. This is a boost from Snap-on's previous quarterly dividend of $1.86. This represents a $8.56 dividend on an annualized basis and a dividend yield of 2.40%. Snap-on's dividend payout ratio is 44.06%.

Analyst Ratings Changes

Several research analysts have recently commented on SNA shares. Robert W. Baird raised their price objective on shares of Snap-on from $290.00 to $347.00 and gave the company a "neutral" rating in a research note on Friday, October 18th. Tigress Financial increased their price objective on Snap-on from $336.00 to $385.00 and gave the company a "buy" rating in a research note on Friday, October 25th. Bank of America boosted their target price on Snap-on from $255.00 to $280.00 and gave the stock an "underperform" rating in a research note on Friday, October 18th. Roth Mkm boosted their price objective 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, Barrington Research raised their target price on shares of Snap-on from $325.00 to $350.00 and gave the company an "outperform" rating in a report on Thursday, October 17th. One research 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.com, the stock presently has an average rating of "Hold" and a consensus 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.