Stifel Financial Corp Buys 3,275 Shares of Snap-on Incorporated (NYSE:SNA)

Stifel Financial Corp boosted its position in shares of Snap-on Incorporated (NYSE:SNA - Free Report) by 0.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 402,672 shares of the company's stock after acquiring an additional 3,275 shares during the period. Stifel Financial Corp owned 0.77% of Snap-on worth $116,665,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of SNA. Opal Wealth Advisors LLC purchased a new position in Snap-on during the second quarter valued at approximately $30,000. Reston Wealth Management LLC purchased a new position in Snap-on during the third quarter valued at approximately $30,000. Innealta Capital LLC purchased a new position in Snap-on in the 2nd quarter worth approximately $32,000. Massmutual Trust Co. FSB ADV grew its stake in Snap-on by 53.0% in the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 127 shares of the company's stock worth $37,000 after buying an additional 44 shares in the last quarter. Finally, Brooklyn Investment Group purchased a new position in Snap-on in the 3rd quarter worth approximately $39,000. Hedge funds and other institutional investors own 84.88% of the company's stock.

Snap-on Trading Down 1.0 %

Shares of SNA traded down $3.68 during mid-day trading on Friday, reaching $357.69. The company's stock had a trading volume of 432,971 shares, compared to its average volume of 312,555. The stock has a market cap of $18.78 billion, a PE ratio of 18.41, a P/E/G ratio of 2.41 and a beta of 0.98. The company has a current ratio of 4.18, a quick ratio of 3.14 and a debt-to-equity ratio of 0.22. Snap-on Incorporated has a 52 week low of $252.98 and a 52 week high of $373.89. The company's fifty day moving average price is $334.08 and its two-hundred day moving average price is $294.16.

Snap-on (NYSE:SNA - Get Free Report) last announced 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. The firm had revenue of $1.15 billion during the quarter, compared to analyst estimates of $1.16 billion. Snap-on had a net margin of 22.13% and a return on equity of 19.44%. On average, analysts predict that Snap-on Incorporated will post 19.05 earnings per share for the current fiscal year.

Snap-on declared that its Board of Directors has approved a stock buyback program on Thursday, August 8th that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the company to purchase up to 3.5% of its stock through open market purchases. Stock repurchase programs are often a sign that the company's management believes its shares are undervalued.

Snap-on Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Thursday, November 21st will be issued a dividend of $2.14 per share. This is a positive change from Snap-on's previous quarterly dividend of $1.86. This represents a $8.56 dividend on an annualized basis and a yield of 2.39%. The ex-dividend date is Thursday, November 21st. Snap-on's dividend payout ratio is currently 44.06%.

Insider Activity at Snap-on

In related news, SVP Thomas J. Ward sold 12,737 shares of the company's stock in a transaction on Monday, October 28th. The shares were sold at an average price of $333.21, for a total transaction of $4,244,095.77. Following the completion of the sale, the senior vice president now directly owns 55,401 shares in the company, valued at $18,460,167.21. This represents a 18.69 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, VP June C. Lemerand sold 3,500 shares of the company's stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $362.86, for a total transaction of $1,270,010.00. Following the sale, the vice president now owns 2,289 shares of the company's stock, valued at $830,586.54. This represents a 60.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 24,031 shares of company stock worth $7,898,701 in the last three months. 4.10% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of research firms have commented on SNA. Barrington Research boosted their price target on shares of Snap-on from $325.00 to $350.00 and gave the stock an "outperform" rating in a research note on Thursday, October 17th. Bank of America boosted their price target on shares of Snap-on from $255.00 to $280.00 and gave the stock an "underperform" rating in a research note on Friday, October 18th. Tigress Financial boosted their price target 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. Roth Mkm boosted their price target on shares of Snap-on from $324.00 to $365.00 and gave the stock a "buy" rating in a research note on Tuesday, October 22nd. Finally, Robert W. Baird boosted their price target on shares of Snap-on from $290.00 to $347.00 and gave the stock a "neutral" rating in a research note on Friday, October 18th. One analyst has rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average 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.