Itau Unibanco Holding S.A. Has $478,000 Stock Holdings in Snap-on Incorporated (NYSE:SNA)

Itau Unibanco Holding S.A. boosted its position in Snap-on Incorporated (NYSE:SNA) by 60.4% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 1,651 shares of the company’s stock after purchasing an additional 622 shares during the period. Itau Unibanco Holding S.A.’s holdings in Snap-on were worth $478,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. Aurora Investment Counsel boosted its holdings in shares of Snap-on by 0.9% during the 3rd quarter. Aurora Investment Counsel now owns 3,549 shares of the company’s stock worth $1,028,000 after buying an additional 30 shares during the period. Lake Street Advisors Group LLC boosted its holdings in shares of Snap-on by 3.1% during the third quarter. Lake Street Advisors Group LLC now owns 1,074 shares of the company’s stock worth $311,000 after acquiring an additional 32 shares during the period. Metis Global Partners LLC grew its position in shares of Snap-on by 1.9% in the third quarter. Metis Global Partners LLC now owns 1,691 shares of the company’s stock valued at $490,000 after purchasing an additional 32 shares during the last quarter. Tradition Wealth Management LLC increased its stake in shares of Snap-on by 3.1% during the third quarter. Tradition Wealth Management LLC now owns 1,154 shares of the company’s stock worth $334,000 after purchasing an additional 35 shares during the period. Finally, Verdence Capital Advisors LLC boosted its stake in Snap-on by 2.5% in the 3rd quarter. Verdence Capital Advisors LLC now owns 1,526 shares of the company’s stock valued at $442,000 after purchasing an additional 37 shares during the period. Institutional investors and hedge funds own 84.88% of the company’s stock.

Insider Buying and Selling at Snap-on

In other news, VP Richard Thomas Miller sold 1,750 shares of the stock in a transaction dated Friday, October 18th. The stock was sold at an average price of $330.00, for a total value of $577,500.00. Following the completion of the sale, the vice president now owns 3,218 shares of the company’s stock, valued at approximately $1,061,940. This represents a 35.23 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Thomas J. Ward sold 12,737 shares of the company’s stock in a transaction that occurred on Monday, October 28th. The shares were 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 in the company, valued at $18,460,167.21. The trade was a 18.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 20,531 shares of company stock worth $6,628,691 over the last 90 days. Insiders own 4.10% of the company’s stock.

Snap-on Price Performance

SNA stock opened at $365.10 on Wednesday. The company’s 50-day moving average price is $329.67 and its two-hundred day moving average price is $292.65. The firm has a market cap of $19.17 billion, a P/E ratio of 18.79, a P/E/G ratio of 2.43 and a beta of 0.98. The company has a quick ratio of 3.14, a current ratio of 4.18 and a debt-to-equity ratio of 0.22. Snap-on Incorporated has a 12 month low of $252.98 and a 12 month high of $373.89.

Snap-on (NYSE:SNA) last announced its quarterly earnings data on Thursday, October 17th. The company reported $4.70 EPS for the quarter, beating the consensus estimate of $4.58 by $0.12. The business had revenue of $1.15 billion during the quarter, compared to the consensus estimate of $1.16 billion. Snap-on had a net margin of 22.13% and a return on equity of 19.44%. On average, analysts anticipate that Snap-on Incorporated will post 19.05 earnings per share for the current fiscal year.

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

Snap-on Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Thursday, November 21st will be paid a $2.14 dividend. The ex-dividend date is Thursday, November 21st. This is a positive change from Snap-on’s previous quarterly dividend of $1.86. This represents a $8.56 annualized dividend and a yield of 2.34%. Snap-on’s dividend payout ratio (DPR) is 44.06%.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the company. Roth Mkm increased their price objective on Snap-on from $324.00 to $365.00 and gave the stock a “buy” rating in a research report on Tuesday, October 22nd. Barrington Research lifted their price objective 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. Robert W. Baird increased their target price 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. Bank of America lifted their price target on shares of Snap-on from $255.00 to $280.00 and gave the company an “underperform” rating in a research report on Friday, October 18th. Finally, Tigress Financial increased 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. One research analyst has rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, Snap-on presently has a consensus rating of “Hold” and a consensus 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.