Cozad Asset Management Inc. Has $2.33 Million Stake in Snap-on Incorporated (NYSE:SNA)

Cozad Asset Management Inc. trimmed its holdings in shares of Snap-on Incorporated (NYSE:SNA) by 14.3% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 8,026 shares of the company’s stock after selling 1,334 shares during the quarter. Cozad Asset Management Inc.’s holdings in Snap-on were worth $2,325,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in the business. Manning & Napier Advisors LLC acquired a new position in Snap-on during the 2nd quarter worth approximately $4,571,000. SG Americas Securities LLC raised its holdings in shares of Snap-on by 32.7% in the 2nd quarter. SG Americas Securities LLC now owns 13,140 shares of the company’s stock worth $3,435,000 after acquiring an additional 3,238 shares during the last quarter. Strategic Financial Concepts LLC bought a new position in shares of Snap-on in the second quarter valued at approximately $3,653,000. LSV Asset Management lifted its stake in Snap-on by 0.5% during the 1st quarter. LSV Asset Management now owns 674,341 shares of the company’s stock valued at $199,753,000 after acquiring an additional 3,535 shares in the last quarter. Finally, Empirical Finance LLC lifted its position in shares of Snap-on by 105.5% during the second quarter. Empirical Finance LLC now owns 3,994 shares of the company’s stock valued at $1,044,000 after purchasing an additional 2,050 shares in the last quarter. 84.88% of the stock is owned by institutional investors.

Insider Transactions at Snap-on

In related news, VP June C. Lemerand sold 1,186 shares of Snap-on stock in a transaction on Monday, August 26th. The shares were sold at an average price of $283.97, for a total value of $336,788.42. Following the transaction, the vice president now directly owns 2,283 shares of the company’s stock, valued at $648,303.51. 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 is available through this link. In related news, VP June C. Lemerand sold 1,186 shares of the business’s stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $283.97, for a total transaction of $336,788.42. Following the transaction, the vice president now owns 2,283 shares in the company, valued at $648,303.51. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Nicholas T. Pinchuk sold 24,145 shares of the firm’s stock in a transaction on Monday, August 12th. The stock was 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 of the company’s stock, valued at $204,138,160.05. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 50,335 shares of company stock worth $14,706,082. Company insiders own 4.10% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently commented on SNA shares. Roth Mkm lifted 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. Robert W. Baird raised their price objective on shares of Snap-on from $290.00 to $347.00 and gave the stock a “neutral” rating in a report on Friday, October 18th. Barrington Research raised their target price on Snap-on from $325.00 to $350.00 and gave the stock an “outperform” rating in a research note on Thursday, October 17th. Bank of America boosted their price target on shares of Snap-on from $255.00 to $280.00 and gave the company an “underperform” rating in a research report on Friday, October 18th. Finally, Tigress Financial boosted their price objective on Snap-on from $336.00 to $385.00 and gave the stock a “buy” rating in a report on Friday, October 25th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $345.40.

Snap-on Price Performance

Shares of Snap-on stock opened at $354.24 on Thursday. The company has a debt-to-equity ratio of 0.22, a quick ratio of 3.14 and a current ratio of 4.18. The stock has a market capitalization of $18.60 billion, a price-to-earnings ratio of 18.23, a price-to-earnings-growth ratio of 2.19 and a beta of 0.96. The company has a fifty day moving average of $298.21 and a 200-day moving average of $280.76. Snap-on Incorporated has a 52-week low of $252.98 and a 52-week high of $355.56.

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

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.