Concurrent Investment Advisors LLC Lowers Stock Position in Snap-on Incorporated (NYSE:SNA)

Concurrent Investment Advisors LLC trimmed its holdings in shares of Snap-on Incorporated (NYSE:SNA) by 0.2% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 15,263 shares of the company’s stock after selling 34 shares during the period. Concurrent Investment Advisors LLC’s holdings in Snap-on were worth $4,422,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Foster & Motley Inc. lifted its holdings in Snap-on by 7.3% in the third quarter. Foster & Motley Inc. now owns 20,786 shares of the company’s stock valued at $6,022,000 after acquiring an additional 1,421 shares during the period. Radnor Capital Management LLC acquired a new position in shares of Snap-on during the 3rd quarter worth $478,000. Crestwood Advisors Group LLC increased its holdings in shares of Snap-on by 1.0% in the 3rd quarter. Crestwood Advisors Group LLC now owns 3,759 shares of the company’s stock valued at $1,089,000 after purchasing an additional 38 shares in the last quarter. Asset Management One Co. Ltd. lifted its stake in shares of Snap-on by 0.3% in the third quarter. Asset Management One Co. Ltd. now owns 19,896 shares of the company’s stock valued at $5,764,000 after purchasing an additional 67 shares during the period. Finally, National Pension Service boosted its holdings in Snap-on by 4.3% during the third quarter. National Pension Service now owns 113,516 shares of the company’s stock worth $32,887,000 after buying an additional 4,710 shares in the last quarter. 84.88% of the stock is owned by institutional investors and hedge funds.

Snap-on Stock Performance

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

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

Insider Activity at Snap-on

In other Snap-on news, CEO Nicholas T. Pinchuk sold 24,145 shares of the company’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 transaction, the chief executive officer now directly owns 759,019 shares in the company, valued at approximately $204,138,160.05. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Snap-on news, CEO Nicholas T. Pinchuk sold 24,145 shares of the stock in a transaction on Monday, August 12th. The stock was sold at an average price of $268.95, for a total transaction of $6,493,797.75. Following the transaction, the chief executive officer now owns 759,019 shares of the company’s stock, valued at $204,138,160.05. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, SVP Thomas J. Ward sold 12,737 shares of the firm’s stock in a transaction on Monday, October 28th. The stock was sold at an average price of $333.21, for a total value of $4,244,095.77. Following the sale, the senior vice president now owns 55,401 shares in the company, valued at $18,460,167.21. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 50,335 shares of company stock valued at $14,706,082 over the last quarter. Insiders own 4.10% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on SNA shares. Roth Mkm increased their target price on shares of Snap-on from $324.00 to $365.00 and gave the company a “buy” rating in a report on Tuesday, October 22nd. Bank of America lifted their price objective on Snap-on from $255.00 to $280.00 and gave the stock an “underperform” rating in a report on Friday, October 18th. Barrington Research boosted their target price on Snap-on from $325.00 to $350.00 and gave the stock an “outperform” rating in a research report on Thursday, October 17th. Tigress Financial raised their price target on Snap-on from $336.00 to $385.00 and gave the company a “buy” rating in a research report on Friday, October 25th. Finally, Robert W. Baird boosted their price objective on shares of Snap-on from $290.00 to $347.00 and gave the stock a “neutral” rating in a research report on Friday, October 18th. One equities research 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. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $345.40.

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.