Greenleaf Trust Sells 131 Shares of Snap-on Incorporated (NYSE:SNA)

Greenleaf Trust decreased its holdings in Snap-on Incorporated (NYSE:SNA) by 11.8% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 983 shares of the company’s stock after selling 131 shares during the period. Greenleaf Trust’s holdings in Snap-on were worth $285,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the business. Earnest Partners LLC grew its stake in Snap-on by 1.4% in the 2nd quarter. Earnest Partners LLC now owns 942,743 shares of the company’s stock valued at $246,424,000 after buying an additional 13,033 shares in the last quarter. Nordea Investment Management AB grew its position in shares of Snap-on by 3.2% in the first quarter. Nordea Investment Management AB now owns 891,994 shares of the company’s stock valued at $265,217,000 after purchasing an additional 27,429 shares in the last quarter. Pacer Advisors Inc. raised its stake in shares of Snap-on by 51.2% during the 2nd quarter. Pacer Advisors Inc. now owns 829,471 shares of the company’s stock valued at $216,815,000 after purchasing an additional 280,997 shares during the period. Dimensional Fund Advisors LP lifted its holdings in Snap-on by 8.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 817,536 shares of the company’s stock worth $213,686,000 after purchasing an additional 65,485 shares in the last quarter. Finally, Envestnet Asset Management Inc. boosted its stake in Snap-on by 0.4% in the 2nd quarter. Envestnet Asset Management Inc. now owns 732,571 shares of the company’s stock worth $191,487,000 after purchasing an additional 2,616 shares during the period. 84.88% of the stock is currently owned by hedge funds and other institutional investors.

Snap-on Price Performance

Shares of Snap-on stock opened at $326.58 on Friday. The stock has a market capitalization of $17.15 billion, a price-to-earnings ratio of 16.81, a price-to-earnings-growth ratio of 2.14 and a beta of 0.98. The company has a fifty day moving average of $289.40 and a 200-day moving average of $277.80. Snap-on Incorporated has a 52-week low of $250.30 and a 52-week high of $330.51. The company has a debt-to-equity ratio of 0.22, a quick ratio of 3.14 and a current ratio of 4.18.

Snap-on Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Monday, August 19th were paid a dividend of $1.86 per share. The ex-dividend date was Monday, August 19th. This represents a $7.44 dividend on an annualized basis and a dividend yield of 2.28%. Snap-on’s dividend payout ratio (DPR) is currently 38.29%.

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

Wall Street Analysts Forecast Growth

SNA has been the subject of a number of analyst reports. Tigress Financial boosted their price objective on shares of Snap-on from $336.00 to $385.00 and gave the company a “buy” rating in a research note on Friday. Roth Mkm upped their price target on shares of Snap-on from $324.00 to $365.00 and gave the stock a “buy” rating in a report on Tuesday, October 22nd. Barrington Research lifted their price objective on Snap-on from $325.00 to $350.00 and gave the company an “outperform” rating in a research note on Thursday, October 17th. Bank of America boosted 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. Finally, Robert W. Baird raised their price target on Snap-on from $290.00 to $347.00 and gave the company a “neutral” rating in a report on Friday, October 18th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $345.40.

Insider Transactions at Snap-on

In related news, VP June C. Lemerand sold 1,186 shares of the stock in a transaction dated Monday, August 26th. The stock was 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 directly owns 2,283 shares in the company, valued at $648,303.51. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other news, CEO Nicholas T. Pinchuk sold 24,145 shares of the firm’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 transaction, the chief executive officer now owns 759,019 shares in the company, valued at approximately $204,138,160.05. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP June C. Lemerand sold 1,186 shares of the company’s stock in a transaction on Monday, August 26th. The shares were sold at an average price of $283.97, for a total transaction of $336,788.42. Following the sale, the vice president now owns 2,283 shares of the company’s stock, valued at $648,303.51. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 37,598 shares of company stock worth $10,461,986. Company insiders own 4.10% of the company’s stock.

About Snap-on

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.