National Pension Service Purchases 4,710 Shares of Snap-on Incorporated (NYSE:SNA)

National Pension Service lifted its position in Snap-on Incorporated (NYSE:SNA) by 4.3% in the third quarter, Holdings Channel.com reports. The institutional investor owned 113,516 shares of the company’s stock after buying an additional 4,710 shares during the period. National Pension Service’s holdings in Snap-on were worth $32,887,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Norden Group LLC raised its position in shares of Snap-on by 10.3% during the first quarter. Norden Group LLC now owns 1,922 shares of the company’s stock worth $569,000 after purchasing an additional 180 shares during the period. Mutual of America Capital Management LLC raised its holdings in Snap-on by 0.8% during the 1st quarter. Mutual of America Capital Management LLC now owns 10,376 shares of the company’s stock worth $3,074,000 after buying an additional 79 shares during the period. Empirical Finance LLC lifted its stake in Snap-on by 3.5% in the first quarter. Empirical Finance LLC now owns 1,944 shares of the company’s stock valued at $576,000 after buying an additional 65 shares in the last quarter. Envestnet Portfolio Solutions Inc. boosted its holdings in shares of Snap-on by 4.5% in the first quarter. Envestnet Portfolio Solutions Inc. now owns 63,986 shares of the company’s stock valued at $18,954,000 after buying an additional 2,784 shares during the period. Finally, AIA Group Ltd increased its position in shares of Snap-on by 12.9% during the first quarter. AIA Group Ltd now owns 2,556 shares of the company’s stock worth $757,000 after acquiring an additional 293 shares in the last quarter. Institutional investors and hedge funds own 84.88% of the company’s stock.

Insider Activity

In related news, CEO Nicholas T. Pinchuk sold 24,145 shares of the business’s stock in a transaction 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 transaction, the chief executive officer now directly owns 759,019 shares in the company, valued at approximately $204,138,160.05. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CFO Aldo John Pagliari sold 4,473 shares of Snap-on stock in a transaction dated Thursday, August 22nd. The stock was sold at an average price of $278.74, for a total transaction of $1,246,804.02. Following the completion of the transaction, the chief financial officer now owns 99,244 shares in the company, valued at approximately $27,663,272.56. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 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 value of $6,493,797.75. Following the completion of the sale, the chief executive officer now owns 759,019 shares in the company, valued at $204,138,160.05. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 50,335 shares of company stock valued at $14,706,082. 4.10% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several research firms recently commented on SNA. Robert W. Baird boosted their price objective 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. Roth Mkm boosted their price target on Snap-on from $324.00 to $365.00 and gave the company a “buy” rating in a report on Tuesday, October 22nd. Barrington Research increased their price objective on Snap-on from $325.00 to $350.00 and gave the stock an “outperform” rating in a report on Thursday, October 17th. Tigress Financial upped their price target on Snap-on from $336.00 to $385.00 and gave the stock a “buy” rating in a research report on Friday, October 25th. Finally, Bank of America lifted their price objective on shares of Snap-on from $255.00 to $280.00 and gave the company an “underperform” rating in a 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 assigned a buy rating to the company. According to data from MarketBeat, Snap-on presently has an average rating of “Hold” and a consensus target price of $345.40.

Snap-on Stock Performance

Shares of NYSE SNA opened at $353.15 on Friday. The company has a debt-to-equity ratio of 0.22, a quick ratio of 3.14 and a current ratio of 4.18. The stock has a 50 day moving average price of $299.65 and a 200 day moving average price of $281.27. The stock has a market capitalization of $18.54 billion, a PE ratio of 18.18, a price-to-earnings-growth ratio of 2.19 and a beta of 0.96. Snap-on Incorporated has a 52 week low of $252.98 and a 52 week high of $355.56.

Snap-on announced that its board has authorized a share repurchase plan on Thursday, August 8th that allows the company to repurchase $500.00 million in outstanding shares. This repurchase authorization allows the company to buy up to 3.5% of its stock through open market purchases. Stock repurchase plans are often an indication 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.