Snap-On Incorporated $SNA Shares Newly Purchased by StoneX Group Inc.

StoneX Group Inc. purchased a new position in Snap-On Incorporated (NYSE:SNA) during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 1,455 shares of the company’s stock, valued at approximately $555,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. BlackRock Inc. acquired a new stake in Snap-On during the 2nd quarter valued at approximately $1,715,363,000. State Street Corp raised its position in shares of Snap-On by 2.9% in the 2nd quarter. State Street Corp now owns 2,356,671 shares of the company’s stock valued at $948,324,000 after purchasing an additional 66,754 shares in the last quarter. First Trust Advisors LP raised its position in shares of Snap-On by 3.3% in the 1st quarter. First Trust Advisors LP now owns 2,033,129 shares of the company’s stock valued at $738,473,000 after purchasing an additional 65,521 shares in the last quarter. Bank of America Corp DE boosted its stake in shares of Snap-On by 0.4% during the 1st quarter. Bank of America Corp DE now owns 999,497 shares of the company’s stock valued at $363,037,000 after buying an additional 3,770 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in shares of Snap-On by 2.0% during the 1st quarter. Dimensional Fund Advisors LP now owns 880,951 shares of the company’s stock valued at $319,955,000 after buying an additional 17,337 shares during the last quarter. Hedge funds and other institutional investors own 84.88% of the company’s stock.

Insider Activity at Snap-On

In other news, CEO Nicholas Pinchuk sold 22,889 shares of the stock in a transaction that occurred on Tuesday, August 18th. The stock was sold at an average price of $399.69, for a total transaction of $9,148,504.41. Following the sale, the chief executive officer directly owned 867,779 shares in the company, valued at approximately $346,842,588.51. This represents a 2.57% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Marty V. Ozolins sold 800 shares of the stock in a transaction that occurred on Wednesday, August 26th. The stock was sold at an average price of $400.00, for a total value of $320,000.00. Following the sale, the vice president owned 1,526 shares in the company, valued at $610,400. The trade was a 34.39% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 3.80% of the stock is currently owned by corporate insiders.

Snap-On Trading Up 0.4%

Snap-On stock opened at $374.74 on Thursday. Snap-On Incorporated has a 1 year low of $320.80 and a 1 year high of $423.02. The firm’s 50-day moving average is $368.00 and its 200-day moving average is $380.30. The company has a debt-to-equity ratio of 0.14, a quick ratio of 2.71 and a current ratio of 3.55. The company has a market cap of $19.33 billion, a P/E ratio of 19.49, a PEG ratio of 2.66 and a beta of 0.75.

Snap-On (NYSE:SNA) last announced its quarterly earnings data on Thursday, October 22nd. The company reported $4.64 earnings per share for the quarter, missing analysts’ consensus estimates of $4.93 by ($0.29). Snap-On had a net margin of 20.82% and a return on equity of 16.77%. The business had revenue of $1.18 billion for the quarter, compared to the consensus estimate of $1.24 billion. During the same period in the prior year, the company earned $4.71 EPS. Snap-On’s quarterly revenue was down .6% on a year-over-year basis. On average, equities analysts expect that Snap-On Incorporated will post 19.24 earnings per share for the current year.

Snap-On Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 10th. Stockholders of record on Friday, November 20th will be issued a dividend of $2.75 per share. This represents a $11.00 annualized dividend and a dividend yield of 2.9%. This is a boost from Snap-On’s previous quarterly dividend of $2.44. The ex-dividend date of this dividend is Friday, November 20th. Snap-On’s dividend payout ratio is currently 50.75%.

Analysts Set New Price Targets

A number of research firms have recently weighed in on SNA. Robert W. Baird set a $385.00 price target on shares of Snap-On in a research report on Friday, October 23rd. Tigress Financial upped their price target on shares of Snap-On from $445.00 to $485.00 and gave the company a “buy” rating in a report on Friday, July 31st. Barclays reduced their price objective on shares of Snap-On from $435.00 to $405.00 and set an “overweight” rating on the stock in a research note on Monday, October 26th. Weiss Ratings lowered shares of Snap-On from a “buy (b)” rating to a “buy (b-)” rating in a report on Friday, October 30th. Finally, Roth Capital reissued a “buy” rating and set a $461.00 price objective (up from $409.00) on shares of Snap-On in a report on Friday, July 24th. Four analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, Snap-On currently has a consensus rating of “Moderate Buy” and a consensus price target of $434.00.

About Snap-On

Snap-on Incorporated develops, manufactures and markets tools, equipment, diagnostics and information systems for professional users. Its offerings include hand and power tools, tool storage, vehicle diagnostic equipment, shop equipment, repair information and software, and related products and services. The company serves customers in vehicle repair and other industries, including aviation, aerospace, agriculture, construction and manufacturing. Its products and services reach customers in the United States and international markets.