Toronto Dominion Bank Sells 8,603 Shares of Snap-on Incorporated (NYSE:SNA)

Toronto Dominion Bank lowered its position in shares of Snap-on Incorporated (NYSE:SNA - Free Report) by 32.8% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 17,665 shares of the company's stock after selling 8,603 shares during the quarter. Toronto Dominion Bank's holdings in Snap-on were worth $5,118,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Assenagon Asset Management S.A. grew its stake in shares of Snap-on by 248.8% in the 2nd quarter. Assenagon Asset Management S.A. now owns 48,697 shares of the company's stock worth $12,729,000 after purchasing an additional 34,737 shares during the last quarter. Brookstone Capital Management bought a new position in shares of Snap-on in the second quarter valued at $246,000. Hennion & Walsh Asset Management Inc. lifted its position in shares of Snap-on by 84.6% during the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 2,630 shares of the company's stock valued at $687,000 after acquiring an additional 1,205 shares during the last quarter. Apollon Wealth Management LLC boosted its stake in shares of Snap-on by 8.0% during the 2nd quarter. Apollon Wealth Management LLC now owns 7,375 shares of the company's stock worth $1,928,000 after acquiring an additional 544 shares in the last quarter. Finally, First Citizens Bank & Trust Co. grew its holdings in shares of Snap-on by 0.7% in the 2nd quarter. First Citizens Bank & Trust Co. now owns 34,458 shares of the company's stock worth $9,007,000 after acquiring an additional 235 shares during the last quarter. 84.88% of the stock is owned by institutional investors and hedge funds.

Snap-on Stock Down 0.1 %

Shares of SNA traded down $0.53 during trading hours on Friday, reaching $355.11. The company's stock had a trading volume of 263,855 shares, compared to its average volume of 348,941. The company has a 50 day moving average of $340.72 and a two-hundred day moving average of $297.44. 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 firm has a market cap of $18.65 billion, a price-to-earnings ratio of 18.28, a P/E/G ratio of 2.35 and a beta of 0.98. Snap-on Incorporated has a 1-year low of $252.98 and a 1-year high of $373.89.

Snap-on (NYSE:SNA - Get Free Report) last released 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 net margin of 22.13% and a return on equity of 19.44%. The firm had revenue of $1.15 billion for the quarter, compared to analyst estimates of $1.16 billion. As a group, research analysts predict that Snap-on Incorporated will post 19.05 EPS for the current fiscal year.

Snap-on Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Thursday, November 21st were paid a $2.14 dividend. The ex-dividend date was Thursday, November 21st. This is an increase from Snap-on's previous quarterly dividend of $1.86. This represents a $8.56 dividend on an annualized basis and a dividend yield of 2.41%. Snap-on's dividend payout ratio is 44.06%.

Insider Buying and Selling

In other news, VP Richard Thomas Miller sold 1,750 shares of the firm's stock in a transaction on Friday, October 18th. The shares were sold at an average price of $330.00, for a total transaction of $577,500.00. Following the transaction, the vice president now owns 3,218 shares in the company, valued at approximately $1,061,940. This trade represents a 35.23 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Iain Boyd sold 6,044 shares of Snap-on stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $298.99, for a total transaction of $1,807,095.56. Following the completion of the sale, the vice president now directly owns 10,493 shares of the company's stock, valued at approximately $3,137,302.07. The trade was a 36.55 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 45,814 shares of company stock worth $15,627,963. Corporate insiders own 4.10% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the company. Tigress Financial upped their target price on Snap-on from $336.00 to $385.00 and gave the company a "buy" rating in a report on Friday, October 25th. Robert W. Baird boosted their price objective on 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 target price 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 boosted their price target on shares of Snap-on from $325.00 to $350.00 and gave the company an "outperform" rating in a report on Thursday, October 17th. Finally, Bank of America raised 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. One research analyst has rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average 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.