Park National Corp OH Has $239,000 Holdings in Snap-on Incorporated (NYSE:SNA)

Park National Corp OH lessened its position in shares of Snap-on Incorporated (NYSE:SNA) by 15.4% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 825 shares of the company’s stock after selling 150 shares during the period. Park National Corp OH’s holdings in Snap-on were worth $239,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of SNA. Bridgefront Capital LLC bought a new position in shares of Snap-on in the 4th quarter worth about $1,119,000. Rockland Trust Co. acquired a new position in Snap-on in the first quarter valued at approximately $889,000. Goldman Sachs Group Inc. boosted its holdings in shares of Snap-on by 11.8% during the 4th quarter. Goldman Sachs Group Inc. now owns 271,436 shares of the company’s stock worth $78,401,000 after buying an additional 28,566 shares in the last quarter. Manning & Napier Advisors LLC acquired a new stake in shares of Snap-on during the 2nd quarter worth approximately $4,571,000. Finally, SG Americas Securities LLC increased its stake in shares of Snap-on by 32.7% in the 2nd quarter. SG Americas Securities LLC now owns 13,140 shares of the company’s stock valued at $3,435,000 after acquiring an additional 3,238 shares in the last quarter. Institutional investors and hedge funds own 84.88% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on SNA. Roth Mkm reissued a “buy” rating and set a $324.00 target price on shares of Snap-on in a research note on Tuesday, July 16th. Robert W. Baird cut their price objective on shares of Snap-on from $282.00 to $275.00 and set a “neutral” rating on the stock in a research report on Friday, July 12th. Tigress Financial restated a “buy” rating and issued a $336.00 target price on shares of Snap-on in a research note on Thursday, July 25th. Finally, Barrington Research reiterated an “outperform” rating and issued a $325.00 price target on shares of Snap-on in a report on Friday, September 20th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $315.00.

Snap-on Stock Down 0.8 %

Snap-on stock opened at $288.71 on Friday. The firm has a market capitalization of $15.21 billion, a price-to-earnings ratio of 15.15, a price-to-earnings-growth ratio of 2.00 and a beta of 0.98. The firm’s fifty day moving average price is $279.49 and its two-hundred day moving average price is $276.37. Snap-on Incorporated has a 1-year low of $249.84 and a 1-year high of $298.49. The company has a current ratio of 4.06, a quick ratio of 3.05 and a debt-to-equity ratio of 0.22.

Snap-on (NYSE:SNA) last announced its quarterly earnings results on Thursday, July 18th. The company reported $5.07 earnings per share for the quarter, beating the consensus estimate of $4.94 by $0.13. The business had revenue of $1.18 billion for the quarter, compared to analysts’ expectations of $1.20 billion. Snap-on had a net margin of 21.90% and a return on equity of 19.90%. The firm’s revenue for the quarter was down 1.0% compared to the same quarter last year. During the same quarter last year, the firm earned $4.89 EPS. On average, equities research analysts predict that Snap-on Incorporated will post 18.95 earnings per share for the current fiscal year.

Snap-on Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Monday, August 19th were issued a dividend of $1.86 per share. The ex-dividend date was Monday, August 19th. This represents a $7.44 annualized dividend and a yield of 2.58%. Snap-on’s dividend payout ratio (DPR) is currently 39.03%.

Snap-on declared that its board has authorized a stock buyback program 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 shares through open market purchases. Shares repurchase programs are typically an indication that the company’s management believes its shares are undervalued.

Insider Activity at Snap-on

In other news, CEO Nicholas T. Pinchuk sold 24,145 shares of the company’s 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 completion of the sale, the chief executive officer now owns 759,019 shares in the company, valued at approximately $204,138,160.05. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, CEO Nicholas T. Pinchuk sold 24,145 shares of the business’s stock in a transaction dated 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 $204,138,160.05. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP June C. Lemerand sold 1,186 shares of the stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $283.97, for a total transaction of $336,788.42. Following the completion of the sale, the vice president now owns 2,283 shares of the company’s stock, valued at approximately $648,303.51. The disclosure for this sale can be found here. In the last three months, insiders sold 29,804 shares of company stock valued at $8,077,390. 4.10% of the stock is owned by insiders.

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.