Caprock Group LLC Sells 186 Shares of Snap-on Incorporated (NYSE:SNA)

Caprock Group LLC trimmed its holdings in Snap-on Incorporated (NYSE:SNA) by 16.0% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 980 shares of the company’s stock after selling 186 shares during the quarter. Caprock Group LLC’s holdings in Snap-on were worth $284,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also added to or reduced their stakes in the business. Manning & Napier Advisors LLC bought a new stake in Snap-on in the 2nd quarter valued at about $4,571,000. Asset Management One Co. Ltd. raised its holdings in Snap-on by 0.3% during the third quarter. Asset Management One Co. Ltd. now owns 19,896 shares of the company’s stock worth $5,764,000 after buying an additional 67 shares during the last quarter. SG Americas Securities LLC grew its holdings in shares of Snap-on by 32.7% during the second quarter. SG Americas Securities LLC now owns 13,140 shares of the company’s stock valued at $3,435,000 after buying an additional 3,238 shares during the last quarter. Strategic Financial Concepts LLC acquired a new stake in shares of Snap-on in the 2nd quarter worth about $3,653,000. Finally, Victory Capital Management Inc. boosted its stake in Snap-on by 21.5% during the 3rd quarter. Victory Capital Management Inc. now owns 158,777 shares of the company’s stock valued at $45,999,000 after purchasing an additional 28,049 shares during the last quarter. Institutional investors and hedge funds own 84.88% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the company. Bank of America lifted their target price on Snap-on from $255.00 to $280.00 and gave the company an “underperform” rating in a research report on Friday, October 18th. Roth Mkm lifted their target price on shares of Snap-on from $324.00 to $365.00 and gave the stock a “buy” rating in a research report on Tuesday, October 22nd. Barrington Research upped 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. Tigress Financial lifted their price target on Snap-on from $336.00 to $385.00 and gave the stock a “buy” rating in a report on Friday, October 25th. Finally, Robert W. Baird raised their target price on Snap-on from $290.00 to $347.00 and gave the company a “neutral” rating in a research report on Friday, October 18th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $345.40.

Snap-on Price Performance

Shares of NYSE SNA opened at $365.97 on Monday. The firm has a market cap of $19.22 billion, a price-to-earnings ratio of 18.84, a price-to-earnings-growth ratio of 2.39 and a beta of 0.96. The stock has a fifty day simple moving average of $317.63 and a two-hundred day simple moving average of $288.24. 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 1-year low of $252.98 and a 1-year high of $367.12.

Snap-on (NYSE:SNA) last posted its quarterly earnings results on Thursday, October 17th. The company reported $4.70 earnings per share for the quarter, topping the consensus estimate of $4.58 by $0.12. Snap-on had a return on equity of 19.44% and a net margin of 22.13%. The company had revenue of $1.15 billion during the quarter, compared to the consensus estimate of $1.16 billion. Analysts anticipate that Snap-on Incorporated will post 19.05 earnings per share for the current 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 paid a dividend of $2.14 per share. This is a boost from Snap-on’s previous quarterly dividend of $1.86. This represents a $8.56 dividend on an annualized basis and a dividend yield of 2.34%. The ex-dividend date of this dividend is Thursday, November 21st. Snap-on’s dividend payout ratio is presently 44.06%.

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

Insider Buying and Selling

In other Snap-on news, 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 value of $577,500.00. Following the completion of the transaction, the vice president now owns 3,218 shares in the company, valued at $1,061,940. This trade represents a 35.23 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Iain Boyd sold 6,044 shares of the company’s stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $298.99, for a total value of $1,807,095.56. Following the sale, the vice president now owns 10,493 shares in the company, valued at approximately $3,137,302.07. This represents a 36.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 20,531 shares of company stock valued at $6,628,691. Company insiders own 4.10% of the company’s stock.

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.