Amalgamated Bank reduced its position in shares of Snap-on Incorporated (NYSE:SNA - Free Report) by 20.7% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 10,969 shares of the company's stock after selling 2,869 shares during the quarter. Amalgamated Bank's holdings in Snap-on were worth $3,178,000 as of its most recent filing with the Securities and Exchange Commission.
Other large investors also recently added to or reduced their stakes in the company. Lake Street Advisors Group LLC raised its stake in shares of Snap-on by 3.1% during the third quarter. Lake Street Advisors Group LLC now owns 1,074 shares of the company's stock worth $311,000 after buying an additional 32 shares during the last quarter. Renasant Bank raised its position in shares of Snap-on by 2.3% during the 1st quarter. Renasant Bank now owns 1,592 shares of the company's stock valued at $472,000 after acquiring an additional 36 shares during the last quarter. TFB Advisors LLC lifted its stake in shares of 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 during the period. Financial Advocates Investment Management boosted its position in shares of Snap-on by 1.2% in the 2nd quarter. Financial Advocates Investment Management now owns 3,360 shares of the company's stock worth $878,000 after purchasing an additional 39 shares during the last quarter. Finally, Ritholtz Wealth Management grew 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 during the period. 84.88% of the stock is currently owned by institutional investors and hedge funds.
Snap-on Stock Up 1.7 %
SNA traded up $6.14 during trading on Friday, reaching $359.27. The company had a trading volume of 356,872 shares, compared to its average volume of 488,737. The business's fifty day moving average price is $301.16 and its 200 day moving average price is $282.03. The company has a debt-to-equity ratio of 0.22, a current ratio of 4.18 and a quick ratio of 3.14. Snap-on Incorporated has a 12 month low of $252.98 and a 12 month high of $360.41. The company has a market cap of $18.87 billion, a P/E ratio of 18.49, a PEG ratio of 2.38 and a beta of 0.96.
Snap-on (NYSE:SNA - Get Free Report) last released its earnings results on Thursday, October 17th. The company reported $4.70 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $4.58 by $0.12. Snap-on had a return on equity of 19.44% and a net margin of 22.13%. The firm had revenue of $1.15 billion during the quarter, compared to analysts' expectations of $1.16 billion. Equities analysts anticipate that Snap-on Incorporated will post 19.05 EPS for the current year.
Snap-on Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Thursday, November 21st will be given a $2.14 dividend. This represents a $8.56 dividend on an annualized basis and a yield of 2.38%. The ex-dividend date is Thursday, November 21st. This is a positive change from Snap-on's previous quarterly dividend of $1.86. Snap-on's dividend payout ratio (DPR) is currently 38.29%.
Snap-on announced that its board has initiated a stock buyback program on Thursday, August 8th that permits the company to buyback $500.00 million in outstanding shares. This buyback authorization permits the company to repurchase up to 3.5% of its shares through open market purchases. Shares buyback programs are usually a sign that the company's management believes its stock is undervalued.
Analyst Ratings Changes
SNA has been the topic of several analyst reports. Barrington Research increased their target price 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 lifted their price objective on shares of Snap-on from $255.00 to $280.00 and gave the stock an "underperform" rating in a research note on Friday, October 18th. Tigress Financial upped their target price on shares of Snap-on from $336.00 to $385.00 and gave the company a "buy" rating in a research note on Friday, October 25th. Robert W. Baird lifted their price target on shares of Snap-on from $290.00 to $347.00 and gave the stock a "neutral" rating in a research report on Friday, October 18th. Finally, Roth Mkm upped their price objective on shares of Snap-on from $324.00 to $365.00 and gave the company a "buy" rating in a research report on Tuesday, October 22nd. One 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's stock. According to data from MarketBeat.com, Snap-on currently has a consensus rating of "Hold" and an average target price of $345.40.
Get Our Latest Stock Report on Snap-on
Insider Buying and Selling at Snap-on
In other news, SVP Thomas J. Ward sold 12,737 shares of the firm's stock in a transaction that occurred on Monday, October 28th. The shares were sold at an average price of $333.21, for a total transaction of $4,244,095.77. Following the completion of the transaction, the senior vice president now directly owns 55,401 shares of the company's stock, valued at $18,460,167.21. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, SVP Thomas J. Ward sold 12,737 shares of the firm's stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $333.21, for a total value of $4,244,095.77. Following the completion of the transaction, the senior vice president now owns 55,401 shares in the company, valued at $18,460,167.21. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Nicholas T. Pinchuk sold 24,145 shares of the company's stock in a transaction dated 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 sale, the chief executive officer now owns 759,019 shares in the company, valued at $204,138,160.05. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 50,335 shares of company stock worth $14,706,082. Corporate insiders own 4.10% of the company's stock.
Snap-on Company Profile
(
Free Report)
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.
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