Snap-on Incorporated (NYSE:SNA) Shares Sold by Boston Trust Walden Corp

Boston Trust Walden Corp reduced its position in Snap-on Incorporated (NYSE:SNA) by 0.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 204,252 shares of the company’s stock after selling 1,574 shares during the period. Boston Trust Walden Corp owned approximately 0.39% of Snap-on worth $59,174,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of the company. Lake Street Advisors Group LLC lifted its position in Snap-on by 3.1% during the third quarter. Lake Street Advisors Group LLC now owns 1,074 shares of the company’s stock valued at $311,000 after buying an additional 32 shares in the last quarter. Renasant Bank boosted its position in Snap-on by 2.3% during the 1st quarter. Renasant Bank now owns 1,592 shares of the company’s stock worth $472,000 after purchasing an additional 36 shares during the period. TFB Advisors LLC increased its holdings in Snap-on by 3.2% in the 2nd quarter. TFB Advisors LLC now owns 1,226 shares of the company’s stock valued at $320,000 after purchasing an additional 38 shares in the last quarter. Financial Advocates Investment Management raised its position in Snap-on by 1.2% in the second quarter. Financial Advocates Investment Management now owns 3,360 shares of the company’s stock valued at $878,000 after purchasing an additional 39 shares during the period. Finally, Ritholtz Wealth Management lifted its stake in shares of Snap-on by 4.0% during the second quarter. Ritholtz Wealth Management now owns 1,013 shares of the company’s stock worth $265,000 after purchasing an additional 39 shares in the last quarter. Hedge funds and other institutional investors own 84.88% of the company’s stock.

Snap-on Stock Up 0.3 %

SNA stock traded up $0.93 during midday trading on Friday, hitting $326.58. 222,112 shares of the company’s stock were exchanged, compared to its average volume of 304,530. 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 current ratio of 4.18, a quick ratio of 3.14 and a debt-to-equity ratio of 0.22. The firm has a 50 day moving average price of $289.40 and a 200-day moving average price of $277.91. Snap-on Incorporated has a 12-month low of $250.30 and a 12-month high of $330.51.

Snap-on declared that its Board of Directors has initiated a share 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 usually a sign that the company’s leadership believes its stock is undervalued.

Snap-on Announces Dividend

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

Insiders Place Their Bets

In other news, CEO Nicholas T. Pinchuk sold 24,145 shares of the company’s stock in a transaction dated 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 sale, the chief executive officer now owns 759,019 shares in the company, valued at approximately $204,138,160.05. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Snap-on news, CFO Aldo John Pagliari sold 4,473 shares of the business’s stock in a transaction on Thursday, August 22nd. The shares were sold at an average price of $278.74, for a total transaction of $1,246,804.02. Following the completion of the sale, the chief financial officer now owns 99,244 shares in the company, valued at $27,663,272.56. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Nicholas T. Pinchuk sold 24,145 shares of the firm’s stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $268.95, for a total transaction of $6,493,797.75. Following the completion of the transaction, the chief executive officer now owns 759,019 shares in the company, valued at approximately $204,138,160.05. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 37,598 shares of company stock valued at $10,461,986 in the last ninety days. Corporate insiders own 4.10% of the company’s stock.

Wall Street Analysts Forecast Growth

SNA has been the subject of a number of recent research reports. Roth Mkm increased their target price on Snap-on from $324.00 to $365.00 and gave the company a “buy” rating in a research note on Tuesday. Barrington Research increased their price objective on shares of 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 lifted their price objective on shares of Snap-on from $290.00 to $347.00 and gave the company a “neutral” rating in a research note on Friday, October 18th. Bank of America upped their target price on shares of Snap-on from $255.00 to $280.00 and gave the company an “underperform” rating in a research note on Friday, October 18th. Finally, Tigress Financial lifted their price target on shares of Snap-on from $336.00 to $385.00 and gave the stock a “buy” rating in a research note on Friday. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $345.40.

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.