Sheaff Brock Investment Advisors LLC Has $939,000 Stock Position in Snap-on Incorporated (NYSE:SNA)

Sheaff Brock Investment Advisors LLC lowered its holdings in shares of Snap-on Incorporated (NYSE:SNA) by 35.9% in the 3rd quarter, HoldingsChannel reports. The firm owned 3,240 shares of the company’s stock after selling 1,818 shares during the period. Sheaff Brock Investment Advisors LLC’s holdings in Snap-on were worth $939,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in SNA. Mawer Investment Management Ltd. boosted its holdings in Snap-on by 234.7% in the second quarter. Mawer Investment Management Ltd. now owns 632,226 shares of the company’s stock worth $165,258,000 after acquiring an additional 443,333 shares in the last quarter. Pacer Advisors Inc. boosted its holdings in Snap-on by 51.2% in the second quarter. Pacer Advisors Inc. now owns 829,471 shares of the company’s stock worth $216,815,000 after acquiring an additional 280,997 shares in the last quarter. Millennium Management LLC boosted its holdings in Snap-on by 1,786.4% in the second quarter. Millennium Management LLC now owns 161,175 shares of the company’s stock worth $42,130,000 after acquiring an additional 152,631 shares in the last quarter. International Assets Investment Management LLC boosted its holdings in Snap-on by 34,381.0% in the third quarter. International Assets Investment Management LLC now owns 130,338 shares of the company’s stock worth $37,760,000 after acquiring an additional 129,960 shares in the last quarter. Finally, Glassman Wealth Services bought a new position in Snap-on in the second quarter worth approximately $26,608,000. Institutional investors and hedge funds own 84.88% of the company’s stock.

Wall Street Analyst Weigh In

SNA has been the topic of several recent research reports. Robert W. Baird increased their price target on Snap-on from $290.00 to $347.00 and gave the stock a “neutral” rating in a report on Friday, October 18th. Roth Mkm increased their price target on Snap-on from $324.00 to $365.00 and gave the stock a “buy” rating in a report on Tuesday, October 22nd. Bank of America raised their target price on Snap-on from $255.00 to $280.00 and gave the company an “underperform” rating in a report on Friday, October 18th. Tigress Financial raised their target price on Snap-on from $336.00 to $385.00 and gave the company a “buy” rating in a report on Friday, October 25th. Finally, Barrington Research raised their target price on Snap-on from $325.00 to $350.00 and gave the company an “outperform” rating in a report on Thursday, October 17th. One investment 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, the company has a consensus rating of “Hold” and a consensus target price of $345.40.

Insider Activity at Snap-on

In other Snap-on news, CFO Aldo John Pagliari sold 4,473 shares of the firm’s stock in a transaction on Thursday, August 22nd. The stock was sold at an average price of $278.74, for a total value of $1,246,804.02. Following the completion of the sale, the chief financial officer now directly owns 99,244 shares of the company’s stock, valued at $27,663,272.56. This trade represents a 4.31 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, SVP Thomas J. Ward sold 12,737 shares of the firm’s 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 completion of the sale, the senior vice president now directly owns 55,401 shares of the company’s stock, valued at $18,460,167.21. This represents a 18.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 26,190 shares of company stock valued at $8,212,284. 4.10% of the stock is owned by insiders.

Snap-on Stock Down 0.2 %

SNA stock opened at $357.06 on Friday. The company has a quick ratio of 3.14, a current ratio of 4.18 and a debt-to-equity ratio of 0.22. The firm has a market capitalization of $18.75 billion, a PE ratio of 18.38, a P/E/G ratio of 2.39 and a beta of 0.96. The stock’s 50 day moving average is $309.42 and its 200-day moving average is $284.95. Snap-on Incorporated has a twelve month low of $252.98 and a twelve month high of $365.35.

Snap-on (NYSE:SNA) last issued its quarterly earnings results on Thursday, October 17th. The company reported $4.70 EPS for the quarter, beating analysts’ consensus estimates of $4.58 by $0.12. The company had revenue of $1.15 billion during the quarter, compared to the consensus estimate of $1.16 billion. Snap-on had a return on equity of 19.44% and a net margin of 22.13%. Sell-side analysts expect that Snap-on Incorporated will post 19.05 EPS for the current fiscal year.

Snap-on Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Thursday, November 21st will be given a dividend of $2.14 per share. This represents a $8.56 dividend on an annualized basis and a dividend yield of 2.40%. This is an increase 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 38.29%.

Snap-on announced that its board has initiated a share buyback program on Thursday, August 8th that permits the company to repurchase $500.00 million in shares. This repurchase authorization permits the company to purchase up to 3.5% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s board of directors 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.