Snap-On Incorporated $SNA Shares Sold by Greenleaf Trust

Greenleaf Trust lessened its stake in Snap-On Incorporated (NYSE:SNA) by 6.2% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 942 shares of the company’s stock after selling 62 shares during the quarter. Greenleaf Trust’s holdings in Snap-On were worth $293,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Alpine Bank Wealth Management purchased a new position in Snap-On in the first quarter worth approximately $25,000. Golden State Wealth Management LLC grew its position in Snap-On by 421.1% in the first quarter. Golden State Wealth Management LLC now owns 99 shares of the company’s stock worth $33,000 after acquiring an additional 80 shares during the period. Cullen Frost Bankers Inc. grew its position in Snap-On by 248.3% in the first quarter. Cullen Frost Bankers Inc. now owns 101 shares of the company’s stock worth $34,000 after acquiring an additional 72 shares during the period. Ransom Advisory Ltd purchased a new position in Snap-On in the first quarter worth approximately $34,000. Finally, Thurston Springer Miller Herd & Titak Inc. grew its position in Snap-On by 52.8% in the second quarter. Thurston Springer Miller Herd & Titak Inc. now owns 110 shares of the company’s stock worth $34,000 after acquiring an additional 38 shares during the period. Institutional investors and hedge funds own 84.88% of the company’s stock.

Snap-On Stock Down 0.5%

SNA opened at $347.39 on Friday. The business’s 50-day simple moving average is $329.92 and its 200-day simple moving average is $323.64. The company has a debt-to-equity ratio of 0.21, a quick ratio of 3.42 and a current ratio of 4.48. Snap-On Incorporated has a one year low of $284.38 and a one year high of $373.89. The stock has a market capitalization of $18.12 billion, a P/E ratio of 18.53, a price-to-earnings-growth ratio of 2.42 and a beta of 0.78.

Snap-On (NYSE:SNA) last posted its earnings results on Thursday, July 17th. The company reported $4.72 EPS for the quarter, topping analysts’ consensus estimates of $4.61 by $0.11. Snap-On had a return on equity of 18.02% and a net margin of 20.98%.The business had revenue of $1.18 billion for the quarter, compared to analysts’ expectations of $1.16 billion. During the same quarter in the previous year, the firm earned $5.07 earnings per share. The business’s revenue was up .0% compared to the same quarter last year. Analysts anticipate that Snap-On Incorporated will post 19.79 EPS for the current year.

Snap-On Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 10th. Investors of record on Tuesday, August 19th were issued a dividend of $2.14 per share. The ex-dividend date of this dividend was Tuesday, August 19th. This represents a $8.56 dividend on an annualized basis and a dividend yield of 2.5%. Snap-On’s dividend payout ratio (DPR) is currently 45.65%.

Insider Transactions at Snap-On

In related news, CEO Nicholas T. Pinchuk sold 23,042 shares of the firm’s stock in a transaction dated Monday, August 11th. The stock was sold at an average price of $320.88, for a total transaction of $7,393,716.96. Following the transaction, the chief executive officer owned 815,219 shares of the company’s stock, valued at $261,587,472.72. This trade represents a 2.75% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CFO Aldo John Pagliari sold 4,731 shares of the firm’s stock in a transaction dated Thursday, August 14th. The stock was sold at an average price of $327.38, for a total value of $1,548,834.78. Following the transaction, the chief financial officer directly owned 111,667 shares in the company, valued at approximately $36,557,542.46. This represents a 4.06% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 27,898 shares of company stock worth $8,983,203. Corporate insiders own 3.90% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently weighed in on SNA shares. Robert W. Baird increased their price objective on Snap-On from $329.00 to $347.00 and gave the stock a “neutral” rating in a research report on Friday, July 18th. Bank of America raised their price target on Snap-On from $265.00 to $285.00 and gave the stock an “underperform” rating in a research report on Friday, July 18th. Tigress Financial raised their price target on Snap-On from $390.00 to $395.00 and gave the stock a “buy” rating in a research report on Friday, August 29th. Weiss Ratings restated a “buy (b)” rating on shares of Snap-On in a research report on Saturday, September 27th. Finally, Barrington Research reiterated an “outperform” rating and issued a $350.00 target price on shares of Snap-On in a report on Tuesday, September 23rd. Five investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $357.00.

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.