Waterway Wealth Management LLC Takes $201,000 Position in Snap-on Incorporated (NYSE:SNA)

Waterway Wealth Management LLC purchased a new stake in shares of Snap-on Incorporated (NYSE:SNA) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 695 shares of the company’s stock, valued at approximately $201,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Mawer Investment Management Ltd. boosted its position in shares of Snap-on by 234.7% during the second quarter. Mawer Investment Management Ltd. now owns 632,226 shares of the company’s stock valued at $165,258,000 after buying an additional 443,333 shares during the period. Pacer Advisors Inc. increased its stake in Snap-on by 51.2% during the 2nd quarter. Pacer Advisors Inc. now owns 829,471 shares of the company’s stock valued at $216,815,000 after purchasing an additional 280,997 shares in the last quarter. Millennium Management LLC boosted its position in Snap-on by 1,786.4% in the second quarter. Millennium Management LLC now owns 161,175 shares of the company’s stock valued at $42,130,000 after buying an additional 152,631 shares during the last quarter. Glassman Wealth Services acquired a new position in shares of Snap-on in the 2nd quarter valued at about $26,608,000. Finally, Earnest Partners LLC boosted its holdings in Snap-on by 9.9% during the first quarter. Earnest Partners LLC now owns 929,710 shares of the company’s stock worth $275,399,000 after buying an additional 83,686 shares in the last quarter. 84.88% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Snap-on

In other news, CEO Nicholas T. Pinchuk sold 24,145 shares of the business’s stock in a transaction on Monday, August 12th. The shares were sold at an average price of $268.95, for a total value of $6,493,797.75. Following the completion of the sale, the chief executive officer now directly owns 759,019 shares in the company, valued at approximately $204,138,160.05. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Snap-on news, VP Richard Thomas Miller sold 1,750 shares of the 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 owns 3,218 shares of the company’s stock, valued at approximately $1,061,940. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Nicholas T. Pinchuk sold 24,145 shares of the business’s stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $268.95, for a total value of $6,493,797.75. Following the completion of the sale, the chief executive officer now owns 759,019 shares in the company, valued at approximately $204,138,160.05. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 37,598 shares of company stock valued at $10,461,986 in the last quarter. Company insiders own 4.10% of the company’s stock.

Snap-on Price Performance

Shares of SNA opened at $325.99 on Tuesday. Snap-on Incorporated has a one year low of $249.84 and a one year high of $330.51. The firm has a market capitalization of $17.17 billion, a price-to-earnings ratio of 16.78, a price-to-earnings-growth ratio of 2.26 and a beta of 0.98. The stock’s fifty day moving average is $285.34 and its 200-day moving average is $276.79. The company has a debt-to-equity ratio of 0.22, a quick ratio of 3.05 and a current ratio of 4.18.

Snap-on announced that its board has authorized a stock repurchase program on Thursday, August 8th that allows the company to buyback $500.00 million in shares. This buyback authorization allows the company to repurchase up to 3.5% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board of directors believes its shares are undervalued.

Snap-on Dividend Announcement

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

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on SNA shares. Bank of America increased their target price on shares of Snap-on from $255.00 to $280.00 and gave the company an “underperform” rating in a research report on Friday. Roth Mkm reaffirmed a “buy” rating and issued a $324.00 price target on shares of Snap-on in a research report on Tuesday, July 16th. Tigress Financial restated a “buy” rating and issued a $336.00 target price on shares of Snap-on in a report on Thursday, July 25th. Robert W. Baird upped their price objective on Snap-on from $290.00 to $347.00 and gave the company a “neutral” rating in a research note on Friday. Finally, Barrington Research upped their price objective on Snap-on from $325.00 to $350.00 and gave the stock an “outperform” rating in a report on Thursday, October 17th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $327.40.

Snap-on 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.