Leeward Investments LLC MA Sells 28,998 Shares of Snap-on Incorporated (NYSE:SNA)

Leeward Investments LLC MA lessened its position in Snap-on Incorporated (NYSE:SNA - Free Report) by 58.3% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 20,707 shares of the company's stock after selling 28,998 shares during the quarter. Leeward Investments LLC MA's holdings in Snap-on were worth $5,999,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in SNA. Norden Group LLC lifted its position in shares of Snap-on by 10.3% during the first quarter. Norden Group LLC now owns 1,922 shares of the company's stock worth $569,000 after purchasing an additional 180 shares during the last quarter. Mutual of America Capital Management LLC boosted its position in Snap-on by 0.8% in the 1st quarter. Mutual of America Capital Management LLC now owns 10,376 shares of the company's stock valued at $3,074,000 after buying an additional 79 shares during the period. Empirical Finance LLC grew its stake in Snap-on by 3.5% in the 1st quarter. Empirical Finance LLC now owns 1,944 shares of the company's stock worth $576,000 after acquiring an additional 65 shares in the last quarter. Envestnet Portfolio Solutions Inc. increased its position in shares of Snap-on by 4.5% during the first quarter. Envestnet Portfolio Solutions Inc. now owns 63,986 shares of the company's stock worth $18,954,000 after acquiring an additional 2,784 shares during the period. Finally, AIA Group Ltd increased its position in shares of Snap-on by 12.9% during the first quarter. AIA Group Ltd now owns 2,556 shares of the company's stock worth $757,000 after acquiring an additional 293 shares during the period. 84.88% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts have commented on SNA shares. Bank of America raised their price objective on Snap-on from $255.00 to $280.00 and gave the stock an "underperform" rating in a report on Friday, October 18th. Barrington Research lifted their price target on shares of Snap-on from $325.00 to $350.00 and gave the stock an "outperform" rating in a report on Thursday, October 17th. Tigress Financial increased their price objective on shares of Snap-on from $336.00 to $385.00 and gave the company a "buy" rating in a research report on Friday, October 25th. Robert W. Baird boosted their price target on Snap-on from $290.00 to $347.00 and gave the company a "neutral" rating in a research note on Friday, October 18th. Finally, Roth Mkm upped their price target on shares of Snap-on from $324.00 to $365.00 and gave the company a "buy" rating in a report on Tuesday, October 22nd. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the company's stock. Based on data from MarketBeat.com, Snap-on currently has an average rating of "Hold" and an average price target of $345.40.

Snap-on Stock Up 1.7 %

SNA traded up $6.14 during trading hours on Friday, hitting $359.27. 128,515 shares of the company's stock were exchanged, compared to its average volume of 306,490. The firm has a market cap of $18.87 billion, a P/E ratio of 18.42, a price-to-earnings-growth ratio of 2.34 and a beta of 0.96. The company has a current ratio of 4.18, a quick ratio of 3.14 and a debt-to-equity ratio of 0.22. Snap-on Incorporated has a 12-month low of $252.98 and a 12-month high of $360.41. The firm has a 50 day moving average of $299.65 and a 200 day moving average of $281.27.

Snap-on Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Thursday, November 21st will be issued a dividend of $2.14 per share. This represents a $8.56 dividend on an annualized basis and a dividend yield of 2.38%. 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 declared 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 buy up to 3.5% of its shares through open market purchases. Shares buyback programs are generally an indication that the company's board of directors believes its shares are undervalued.

Insider Activity

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 transaction of $6,493,797.75. Following the completion of the transaction, the chief executive officer now directly owns 759,019 shares of the company's stock, valued at $204,138,160.05. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Snap-on news, VP June C. Lemerand sold 1,186 shares of the firm's stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $283.97, for a total value of $336,788.42. Following the sale, the vice president now owns 2,283 shares in the company, valued at approximately $648,303.51. 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 can be accessed through this link. Also, 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 transaction of $6,493,797.75. Following the completion of the sale, the chief executive officer now directly owns 759,019 shares of the company's stock, valued at $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 have sold a total of 50,335 shares of company stock valued at $14,706,082 over the last quarter. Corporate 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.