Glenmede Trust Co. NA Sells 1,769 Shares of Snap-on Incorporated (NYSE:SNA)

Glenmede Trust Co. NA decreased its position in shares of Snap-on Incorporated (NYSE:SNA - Free Report) by 1.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 117,469 shares of the company's stock after selling 1,769 shares during the quarter. Glenmede Trust Co. NA owned about 0.22% of Snap-on worth $34,032,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the company. Manning & Napier Advisors LLC acquired a new position in shares of Snap-on in the 2nd quarter valued at $4,571,000. Asset Management One Co. Ltd. increased its holdings in shares of Snap-on by 0.3% in the third quarter. Asset Management One Co. Ltd. now owns 19,896 shares of the company's stock worth $5,764,000 after acquiring an additional 67 shares in the last quarter. SG Americas Securities LLC raised its position in shares of Snap-on by 32.7% during the second quarter. SG Americas Securities LLC now owns 13,140 shares of the company's stock worth $3,435,000 after purchasing an additional 3,238 shares during the period. Strategic Financial Concepts LLC bought a new position in shares of Snap-on during the 2nd quarter valued at about $3,653,000. Finally, Victory Capital Management Inc. grew its position in shares of Snap-on by 21.5% in the 3rd quarter. Victory Capital Management Inc. now owns 158,777 shares of the company's stock valued at $45,999,000 after purchasing an additional 28,049 shares during the period. Institutional investors and hedge funds own 84.88% of the company's stock.

Insider Transactions at Snap-on

In other Snap-on news, SVP Thomas J. Ward sold 12,737 shares of the business's stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $333.21, for a total transaction of $4,244,095.77. Following the transaction, the senior vice president now owns 55,401 shares of the company's stock, valued at $18,460,167.21. The trade was a 18.69 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Richard Thomas Miller sold 1,750 shares of the firm's stock in a transaction that occurred on Friday, October 18th. The shares were sold at an average price of $330.00, for a total value of $577,500.00. Following the completion of the sale, the vice president now directly owns 3,218 shares of the company's stock, valued at approximately $1,061,940. The trade was a 35.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 20,531 shares of company stock worth $6,628,691 in the last 90 days. Corporate insiders own 4.10% of the company's stock.

Analysts Set New Price Targets

SNA has been the topic of several research analyst reports. Robert W. Baird raised their target price on shares of Snap-on from $290.00 to $347.00 and gave the stock a "neutral" rating in a report on Friday, October 18th. Roth Mkm raised their price objective 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 upped their target price on shares of Snap-on from $325.00 to $350.00 and gave the stock an "outperform" rating in a research note on Thursday, October 17th. Tigress Financial lifted their price target on Snap-on from $336.00 to $385.00 and gave the company a "buy" rating in a research note on Friday, October 25th. Finally, Bank of America boosted their price target on Snap-on from $255.00 to $280.00 and gave the company an "underperform" rating in a report on Friday, October 18th. One analyst has rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, Snap-on has a consensus rating of "Hold" and an average target price of $345.40.

Snap-on Stock Down 0.6 %

Snap-on stock traded down $2.12 during mid-day trading on Thursday, reaching $369.23. The company's stock had a trading volume of 272,951 shares, compared to its average volume of 312,838. 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 Incorporated has a 12 month low of $252.98 and a 12 month high of $373.89. The business's 50 day simple moving average is $323.02 and its 200 day simple moving average is $290.07. The company has a market capitalization of $19.39 billion, a price-to-earnings ratio of 19.00, a price-to-earnings-growth ratio of 2.45 and a beta of 0.96.

Snap-on (NYSE:SNA - Get Free Report) last announced its quarterly earnings data on Thursday, October 17th. The company reported $4.70 earnings per share for the quarter, beating the consensus estimate of $4.58 by $0.12. Snap-on had a return on equity of 19.44% and a net margin of 22.13%. The company had revenue of $1.15 billion during the quarter, compared to analysts' expectations of $1.16 billion. As a group, research analysts anticipate that Snap-on Incorporated will post 19.05 earnings per share for the current year.

Snap-on announced that its Board of Directors has initiated a stock repurchase plan on Thursday, August 8th that allows the company to buyback $500.00 million in shares. This buyback authorization allows the company to buy up to 3.5% of its shares through open market purchases. Shares buyback plans are generally a sign that the company's board of directors believes its stock is undervalued.

Snap-on Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Thursday, November 21st will be given a dividend of $2.14 per share. This is a positive change from Snap-on's previous quarterly dividend of $1.86. The ex-dividend date of this dividend is Thursday, November 21st. This represents a $8.56 annualized dividend and a dividend yield of 2.32%. Snap-on's payout ratio is 44.06%.

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.