Radnor Capital Management LLC Buys New Holdings in Snap-on Incorporated (NYSE:SNA)

Radnor Capital Management LLC purchased a new position in Snap-on Incorporated (NYSE:SNA) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 1,650 shares of the company’s stock, valued at approximately $478,000.

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

Analyst Ratings Changes

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

Insider Transactions at Snap-on

In related news, CEO Nicholas T. Pinchuk sold 24,145 shares of the business’s stock in a transaction dated 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 transaction, the chief executive officer now owns 759,019 shares in the company, valued at $204,138,160.05. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, CEO Nicholas T. Pinchuk sold 24,145 shares of Snap-on stock in a transaction on 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 $204,138,160.05. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP June C. Lemerand sold 1,186 shares of the company’s stock in a transaction on 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 of the company’s stock, valued at approximately $648,303.51. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 50,335 shares of company stock worth $14,706,082. Company insiders own 4.10% of the company’s stock.

Snap-on Stock Down 0.3 %

Shares of NYSE:SNA opened at $353.15 on Friday. 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 stock has a market cap of $18.54 billion, a P/E ratio of 18.18, a P/E/G ratio of 2.19 and a beta of 0.96. Snap-on Incorporated has a 1-year low of $252.98 and a 1-year high of $355.56. The firm has a fifty day moving average price of $299.65 and a 200 day moving average price of $281.27.

Snap-on declared that its board has initiated a stock buyback program on Thursday, August 8th that allows the company to buyback $500.00 million in outstanding shares. This buyback authorization allows the company to reacquire up to 3.5% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s management believes its stock is 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.