Lecap Asset Management Ltd. Has $1.41 Million Position in Snap-on Incorporated (NYSE:SNA)

Lecap Asset Management Ltd. increased its holdings in shares of Snap-on Incorporated (NYSE:SNA) by 117.2% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 4,875 shares of the company’s stock after acquiring an additional 2,631 shares during the period. Lecap Asset Management Ltd.’s holdings in Snap-on were worth $1,412,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Opal Wealth Advisors LLC acquired a new stake in shares of Snap-on during the 2nd quarter valued at about $30,000. Innealta Capital LLC acquired a new position in Snap-on in the second quarter valued at about $32,000. Massmutual Trust Co. FSB ADV boosted its position in Snap-on by 53.0% in the third quarter. Massmutual Trust Co. FSB ADV now owns 127 shares of the company’s stock valued at $37,000 after buying an additional 44 shares in the last quarter. Quarry LP boosted its position in Snap-on by 244.7% in the second quarter. Quarry LP now owns 162 shares of the company’s stock valued at $42,000 after buying an additional 115 shares in the last quarter. Finally, Versant Capital Management Inc boosted its position in Snap-on by 529.0% in the second quarter. Versant Capital Management Inc now owns 195 shares of the company’s stock valued at $51,000 after buying an additional 164 shares in the last quarter. 84.88% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, VP Richard Thomas Miller sold 1,750 shares of the business’s stock in a transaction that occurred on Friday, October 18th. The shares were sold at an average price of $330.00, for a total transaction of $577,500.00. Following the completion of the sale, the vice president now directly owns 3,218 shares of the company’s stock, valued at $1,061,940. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. In related news, VP Richard Thomas Miller sold 1,750 shares of the business’s stock in a transaction that occurred on Friday, October 18th. The shares were sold at an average price of $330.00, for a total transaction of $577,500.00. Following the completion of the sale, the vice president now directly owns 3,218 shares of the company’s stock, valued at $1,061,940. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO Nicholas T. Pinchuk sold 24,145 shares of the company’s stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $268.95, for a total transaction 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. Insiders sold a total of 37,598 shares of company stock valued at $10,461,986 over the last ninety days. Insiders own 4.10% of the company’s stock.

Snap-on Price Performance

Shares of SNA stock opened at $325.25 on Thursday. The company has a current ratio of 4.18, a quick ratio of 3.05 and a debt-to-equity ratio of 0.22. The firm has a market capitalization of $17.15 billion, a price-to-earnings ratio of 17.06, a PEG ratio of 2.26 and a beta of 0.98. The firm’s 50 day moving average is $287.40 and its 200-day moving average is $277.35. Snap-on Incorporated has a 1 year low of $249.84 and a 1 year high of $330.51.

Snap-on announced 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 reacquire up to 3.5% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s board believes its shares are undervalued.

Snap-on Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Monday, August 19th were paid a dividend of $1.86 per share. This represents a $7.44 dividend on an annualized basis and a dividend yield of 2.29%. The ex-dividend date was Monday, August 19th. Snap-on’s dividend payout ratio (DPR) is 39.03%.

Analysts Set New Price Targets

A number of research firms have commented on SNA. Robert W. Baird boosted their price target on shares of Snap-on from $290.00 to $347.00 and gave the company a “neutral” rating in a research report on Friday, October 18th. Barrington Research boosted their price target on shares of Snap-on from $325.00 to $350.00 and gave the company an “outperform” rating in a research report on Thursday, October 17th. Roth Mkm boosted their price target on shares of Snap-on from $324.00 to $365.00 and gave the company a “buy” rating in a research report on Tuesday. Tigress Financial reiterated a “buy” rating and set a $336.00 target price on shares of Snap-on in a research report on Thursday, July 25th. Finally, Bank of America upped their target price on shares of Snap-on from $255.00 to $280.00 and gave the stock an “underperform” rating in a research report on Friday, October 18th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $335.60.

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.