Allworth Financial LP Sells 106 Shares of Snap-on Incorporated (NYSE:SNA)

Allworth Financial LP reduced its position in shares of Snap-on Incorporated (NYSE:SNA) by 19.2% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 445 shares of the company’s stock after selling 106 shares during the quarter. Allworth Financial LP’s holdings in Snap-on were worth $129,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Earnest Partners LLC increased its stake in shares of 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 acquiring an additional 13,033 shares during the last quarter. Nordea Investment Management AB increased its stake in shares of Snap-on by 3.2% in the 1st quarter. Nordea Investment Management AB now owns 891,994 shares of the company’s stock valued at $265,217,000 after acquiring an additional 27,429 shares during the last quarter. Pacer Advisors Inc. grew its position in shares of Snap-on by 51.2% in 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 grew its position in shares of Snap-on by 8.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 817,536 shares of the company’s stock valued at $213,686,000 after purchasing an additional 65,485 shares during the period. Finally, Envestnet Asset Management Inc. grew its position in shares of Snap-on by 0.4% in the 2nd quarter. Envestnet Asset Management Inc. now owns 732,571 shares of the company’s stock valued at $191,487,000 after purchasing an additional 2,616 shares during the period. 84.88% of the stock is owned by institutional investors.

Insider Activity

In other news, CEO Nicholas T. Pinchuk sold 24,145 shares of the stock in a transaction that occurred on Monday, August 12th. The stock was 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 of the company’s stock, valued at approximately $204,138,160.05. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, CEO Nicholas T. Pinchuk sold 24,145 shares of the stock in a transaction that occurred on Monday, August 12th. The stock was 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 of the company’s stock, valued at approximately $204,138,160.05. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Aldo John Pagliari sold 4,473 shares of the stock in a transaction that occurred on Thursday, August 22nd. The shares were sold at an average price of $278.74, for a total value of $1,246,804.02. Following the completion of the sale, the chief financial officer now directly owns 99,244 shares of the company’s stock, valued at approximately $27,663,272.56. The trade was 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.

Snap-on Trading Down 0.9 %

NYSE:SNA opened at $330.18 on Friday. Snap-on Incorporated has a twelve month low of $252.98 and a twelve month high of $337.72. The company has a quick ratio of 3.14, a current ratio of 4.18 and a debt-to-equity ratio of 0.22. The business has a 50 day moving average price of $292.75 and a two-hundred day moving average price of $278.68. The company has a market cap of $17.34 billion, a P/E ratio of 16.99, a price-to-earnings-growth ratio of 2.16 and a beta of 0.98.

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 Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Monday, August 19th were given a dividend of $1.86 per share. This represents a $7.44 dividend on an annualized basis and a yield of 2.25%. The ex-dividend date was Monday, August 19th. Snap-on’s dividend payout ratio (DPR) is currently 38.29%.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. Tigress Financial boosted their price objective on Snap-on from $336.00 to $385.00 and gave the company a “buy” rating in a research report on Friday, October 25th. Bank of America boosted their price objective on Snap-on from $255.00 to $280.00 and gave the company an “underperform” rating in a research report on Friday, October 18th. Barrington Research boosted their price objective on Snap-on from $325.00 to $350.00 and gave the company an “outperform” rating in a research report on Thursday, October 17th. Robert W. Baird boosted their price objective on Snap-on from $290.00 to $347.00 and gave the company a “neutral” rating in a research report on Friday, October 18th. Finally, Roth Mkm boosted their price objective on Snap-on from $324.00 to $365.00 and gave the company a “buy” rating in a research report on Tuesday, October 22nd. 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 company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price 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.