Transamerica Financial Advisors Inc. Takes Position in Snap-on Incorporated (NYSE:SNA)

Transamerica Financial Advisors Inc. purchased a new stake in shares of Snap-on Incorporated (NYSE:SNA) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 315 shares of the company’s stock, valued at approximately $92,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Aurora Investment Counsel raised its holdings in shares of Snap-on by 0.9% during the 3rd quarter. Aurora Investment Counsel now owns 3,549 shares of the company’s stock valued at $1,028,000 after purchasing an additional 30 shares in the last quarter. Lake Street Advisors Group LLC raised its holdings in shares of Snap-on by 3.1% during the 3rd quarter. Lake Street Advisors Group LLC now owns 1,074 shares of the company’s stock valued at $311,000 after purchasing an additional 32 shares in the last quarter. Metis Global Partners LLC raised its holdings in shares of Snap-on by 1.9% during the 3rd quarter. Metis Global Partners LLC now owns 1,691 shares of the company’s stock valued at $490,000 after purchasing an additional 32 shares in the last quarter. Verdence Capital Advisors LLC raised its holdings in shares of Snap-on by 2.5% during the 3rd quarter. Verdence Capital Advisors LLC now owns 1,526 shares of the company’s stock valued at $442,000 after purchasing an additional 37 shares in the last quarter. Finally, TFB Advisors LLC grew its stake in Snap-on by 3.2% in the 2nd quarter. TFB Advisors LLC now owns 1,226 shares of the company’s stock valued at $320,000 after buying an additional 38 shares during the last quarter. Institutional investors own 84.88% of the company’s stock.

Insider Transactions at Snap-on

In other news, SVP Thomas J. Ward sold 12,737 shares of the firm’s stock in a transaction dated 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 transaction, the senior vice president now directly owns 55,401 shares of the company’s stock, valued at approximately $18,460,167.21. This trade represents a 18.69 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 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 transaction of $577,500.00. Following the transaction, the vice president now directly owns 3,218 shares of the company’s stock, valued at $1,061,940. The trade was a 35.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 20,531 shares of company stock valued at $6,628,691. Company insiders own 4.10% of the company’s stock.

Analyst Ratings Changes

SNA has been the topic of a number of research analyst reports. Bank of America raised their target price on shares of Snap-on from $255.00 to $280.00 and gave the company an “underperform” rating in a research note on Friday, October 18th. Robert W. Baird raised their target price 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. Roth Mkm raised their target price on shares of Snap-on from $324.00 to $365.00 and gave the company a “buy” rating in a research note on Tuesday, October 22nd. Tigress Financial raised their target price on shares of Snap-on from $336.00 to $385.00 and gave the company a “buy” rating in a research note on Friday, October 25th. 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 research note on Thursday, October 17th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $345.40.

Snap-on Stock Performance

NYSE SNA opened at $369.23 on Thursday. 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 firm has a market capitalization of $19.39 billion, a price-to-earnings ratio of 19.00, a P/E/G ratio of 2.45 and a beta of 0.96. The company’s fifty day moving average is $321.25 and its two-hundred day moving average is $289.52. Snap-on Incorporated has a 52-week low of $252.98 and a 52-week high of $373.89.

Snap-on (NYSE:SNA) last posted its quarterly 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. The company had revenue of $1.15 billion for 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%. Equities research analysts forecast that Snap-on Incorporated will post 19.05 EPS for the current year.

Snap-on declared that its Board of Directors has initiated a stock repurchase plan on Thursday, August 8th that permits the company to buyback $500.00 million in shares. This buyback authorization permits the company to purchase up to 3.5% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s leadership believes its stock is undervalued.

Snap-on Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Thursday, November 21st will be given a $2.14 dividend. This represents a $8.56 annualized dividend and a yield of 2.32%. This is a positive change from Snap-on’s previous quarterly dividend of $1.86. The ex-dividend date of this dividend is Thursday, November 21st. Snap-on’s dividend payout ratio (DPR) is currently 44.06%.

Snap-on Company 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.