Tradition Wealth Management LLC Has $334,000 Holdings in Snap-on Incorporated (NYSE:SNA)

Tradition Wealth Management LLC boosted its stake in Snap-on Incorporated (NYSE:SNA) by 3.1% in the third quarter, HoldingsChannel.com reports. The firm owned 1,154 shares of the company’s stock after buying an additional 35 shares during the period. Tradition Wealth Management LLC’s holdings in Snap-on were worth $334,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of SNA. Opal Wealth Advisors LLC bought a new stake in shares of Snap-on in the 2nd quarter valued at about $30,000. Reston Wealth Management LLC acquired a new position in shares of Snap-on in the third quarter worth approximately $30,000. Innealta Capital LLC bought a new stake in Snap-on in the second quarter valued at approximately $32,000. Massmutual Trust Co. FSB ADV increased its position in Snap-on by 53.0% during the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 127 shares of the company’s stock valued at $37,000 after purchasing an additional 44 shares during the period. Finally, Brooklyn Investment Group bought a new position in Snap-on during the 3rd quarter worth approximately $39,000. 84.88% of the stock is owned by institutional investors.

Snap-on Stock Performance

Shares of SNA opened at $369.69 on Monday. The stock has a 50-day moving average of $326.41 and a 200-day moving average of $291.33. Snap-on Incorporated has a one year low of $252.98 and a one year high of $373.89. The company has a debt-to-equity ratio of 0.22, a current ratio of 4.18 and a quick ratio of 3.14. The company has a market cap of $19.41 billion, a PE ratio of 19.03, a P/E/G ratio of 2.45 and a beta of 0.96.

Snap-on (NYSE:SNA) last released its quarterly earnings data on Thursday, October 17th. The company reported $4.70 EPS for the quarter, beating 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 firm had revenue of $1.15 billion during the quarter, compared to the consensus estimate of $1.16 billion. On average, equities research analysts predict that Snap-on Incorporated will post 19.05 EPS for the current fiscal year.

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

Snap-on Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Thursday, November 21st will be issued 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 2.32%. The ex-dividend date is Thursday, November 21st. Snap-on’s dividend payout ratio (DPR) is currently 44.06%.

Insider Buying and Selling

In other Snap-on news, SVP Thomas J. Ward sold 12,737 shares of the business’s stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $333.21, for a total transaction 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 approximately $18,460,167.21. The trade was a 18.69 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP Iain Boyd sold 6,044 shares of the firm’s stock in a transaction that occurred on 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 completion of the transaction, the vice president now owns 10,493 shares in the company, valued at $3,137,302.07. This represents a 36.55 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 20,531 shares of company stock worth $6,628,691 in the last quarter. Insiders own 4.10% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on SNA. Tigress Financial increased their price objective on shares of Snap-on from $336.00 to $385.00 and gave the stock a “buy” rating in a research report on Friday, October 25th. Barrington Research lifted their price objective on Snap-on from $325.00 to $350.00 and gave the stock an “outperform” rating in a research report on Thursday, October 17th. Bank of America boosted their price objective on Snap-on from $255.00 to $280.00 and gave the company an “underperform” rating in a research note on Friday, October 18th. Roth Mkm raised their target price on Snap-on from $324.00 to $365.00 and gave the stock a “buy” rating in a research note on Tuesday, October 22nd. Finally, Robert W. Baird boosted their price target on Snap-on from $290.00 to $347.00 and gave the company a “neutral” rating in a research note on Friday, October 18th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $345.40.

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.