1,730 Shares in Snap-on Incorporated (NYSE:SNA) Acquired by Hancock Whitney Corp

Hancock Whitney Corp purchased a new stake in Snap-on Incorporated (NYSE:SNA) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 1,730 shares of the company’s stock, valued at approximately $501,000.

Several other institutional investors also recently modified their holdings of the stock. Opal Wealth Advisors LLC acquired a new stake in shares of Snap-on during the second quarter worth $30,000. Reston Wealth Management LLC purchased a new position in Snap-on in the 3rd quarter worth about $30,000. Innealta Capital LLC acquired a new stake in Snap-on during the 2nd quarter worth about $32,000. Massmutual Trust Co. FSB ADV boosted its holdings in shares of Snap-on by 53.0% in the third quarter. Massmutual Trust Co. FSB ADV now owns 127 shares of the company’s stock worth $37,000 after buying an additional 44 shares during the period. Finally, Quarry LP increased its position in shares of Snap-on by 244.7% in the second quarter. Quarry LP now owns 162 shares of the company’s stock worth $42,000 after acquiring an additional 115 shares in the last quarter. Institutional investors own 84.88% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently commented on the stock. Roth Mkm upped 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, October 22nd. Tigress Financial lifted their price target on Snap-on from $336.00 to $385.00 and gave the company a “buy” rating in a report on Friday, October 25th. Bank of America upped their price target on Snap-on from $255.00 to $280.00 and gave the company an “underperform” rating in a research report on Friday, October 18th. Robert W. Baird lifted their target price on Snap-on from $290.00 to $347.00 and gave the company a “neutral” rating in a research note on Friday, October 18th. Finally, Barrington Research increased their price target on shares of Snap-on from $325.00 to $350.00 and gave the stock an “outperform” rating in a research report on Thursday, October 17th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $345.40.

Insider Activity at Snap-on

In related news, VP Iain Boyd sold 6,044 shares of the firm’s stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $298.99, for a total value of $1,807,095.56. Following the transaction, the vice president now directly owns 10,493 shares of the company’s stock, valued at approximately $3,137,302.07. This trade represents a 36.55 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, 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 value of $4,244,095.77. Following the completion of the sale, the senior vice president now owns 55,401 shares of the company’s stock, valued at approximately $18,460,167.21. This trade represents a 18.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 20,531 shares of company stock valued at $6,628,691. Insiders own 4.10% of the company’s stock.

Snap-on Stock Performance

Shares of NYSE SNA opened at $371.61 on Wednesday. Snap-on Incorporated has a one year low of $252.98 and a one year high of $372.94. The business’s 50-day moving average price is $319.42 and its two-hundred day moving average price is $288.88. 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 capitalization of $19.51 billion, a P/E ratio of 19.13, a price-to-earnings-growth 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, topping analysts’ consensus estimates of $4.58 by $0.12. The firm had revenue of $1.15 billion for the quarter, compared to the consensus estimate of $1.16 billion. Snap-on had a return on equity of 19.44% and a net margin of 22.13%. Analysts anticipate that Snap-on Incorporated will post 19.05 earnings per share for the current fiscal year.

Snap-on Increases Dividend

The firm also recently declared 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. The ex-dividend date is Thursday, November 21st. This represents a $8.56 dividend on an annualized basis and a dividend yield of 2.30%. This is an increase from Snap-on’s previous quarterly dividend of $1.86. Snap-on’s dividend payout ratio (DPR) is currently 44.06%.

Snap-on announced that its Board of Directors has authorized a share buyback program 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 stock through open market purchases. Stock repurchase programs are usually a sign that the company’s management 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.