Greenleaf Trust Boosts Stake in Snap-on Incorporated (NYSE:SNA)

Greenleaf Trust raised its position in Snap-on Incorporated (NYSE:SNA) by 8.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,120 shares of the company’s stock after buying an additional 89 shares during the period. Greenleaf Trust’s holdings in Snap-on were worth $324,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. AIA Group Ltd bought a new position in shares of Snap-on during the fourth quarter worth about $654,000. CapWealth Advisors LLC lifted its position in shares of Snap-on by 2.8% during the fourth quarter. CapWealth Advisors LLC now owns 44,513 shares of the company’s stock worth $12,857,000 after purchasing an additional 1,201 shares during the last quarter. Federated Hermes Inc. lifted its position in shares of Snap-on by 5.1% during the fourth quarter. Federated Hermes Inc. now owns 17,512 shares of the company’s stock worth $5,058,000 after purchasing an additional 849 shares during the last quarter. Daiwa Securities Group Inc. lifted its position in shares of Snap-on by 5.9% during the fourth quarter. Daiwa Securities Group Inc. now owns 4,737 shares of the company’s stock worth $1,368,000 after purchasing an additional 265 shares during the last quarter. Finally, Flputnam Investment Management Co. lifted its position in shares of Snap-on by 18.9% during the fourth quarter. Flputnam Investment Management Co. now owns 11,064 shares of the company’s stock worth $3,196,000 after purchasing an additional 1,755 shares during the last quarter. 84.88% of the stock is owned by hedge funds and other institutional investors.

Snap-on Price Performance

Shares of NYSE:SNA opened at $271.30 on Wednesday. The firm’s 50 day moving average is $283.80 and its two-hundred day moving average is $278.68. Snap-on Incorporated has a 52 week low of $247.68 and a 52 week high of $298.49. The firm has a market capitalization of $14.30 billion, a P/E ratio of 14.23, a PEG ratio of 1.85 and a beta of 0.99. The company has a current ratio of 3.82, a quick ratio of 2.83 and a debt-to-equity ratio of 0.23.

Snap-on (NYSE:SNA) last announced its quarterly earnings results on Thursday, April 18th. The company reported $4.75 EPS for the quarter, beating the consensus estimate of $4.66 by $0.09. Snap-on had a net margin of 21.69% and a return on equity of 20.46%. The company had revenue of $1.18 billion for the quarter, compared to analyst estimates of $1.20 billion. During the same quarter last year, the business earned $4.60 earnings per share. Snap-on’s revenue was down .1% compared to the same quarter last year. Analysts anticipate that Snap-on Incorporated will post 19.06 earnings per share for the current year.

Snap-on Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 11th. Investors of record on Monday, February 26th were paid a dividend of $1.86 per share. The ex-dividend date of this dividend was Friday, February 23rd. This represents a $7.44 dividend on an annualized basis and a dividend yield of 2.74%. Snap-on’s dividend payout ratio is presently 39.03%.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on SNA shares. Robert W. Baird reduced their price target on shares of Snap-on from $295.00 to $282.00 and set a “neutral” rating on the stock in a research report on Friday, April 19th. Roth Mkm reaffirmed a “buy” rating and set a $324.00 price target on shares of Snap-on in a research report on Thursday, April 18th. Barrington Research reissued an “outperform” rating and issued a $325.00 target price on shares of Snap-on in a report on Monday, April 15th. Finally, Tigress Financial reissued a “buy” rating and issued a $336.00 target price on shares of Snap-on in a report on Friday, February 16th. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $316.75.

Insider Activity at Snap-on

In related news, VP Richard Thomas Miller sold 704 shares of the firm’s stock in a transaction that occurred on Thursday, March 28th. The shares were sold at an average price of $298.16, for a total transaction of $209,904.64. Following the transaction, the vice president now owns 3,213 shares in the company, valued at $957,988.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, VP Richard Thomas Miller sold 704 shares of the firm’s stock in a transaction that occurred on Thursday, March 28th. The shares were sold at an average price of $298.16, for a total transaction of $209,904.64. Following the transaction, the vice president now owns 3,213 shares in the company, valued at $957,988.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Nicholas T. Pinchuk sold 23,514 shares of Snap-on stock in a transaction that occurred on Tuesday, March 19th. The stock was sold at an average price of $287.48, for a total transaction of $6,759,804.72. Following the completion of the transaction, the chief executive officer now owns 742,383 shares in the company, valued at approximately $213,420,264.84. The disclosure for this sale can be found here. Insiders have sold 47,368 shares of company stock worth $13,399,449 over the last quarter. 4.10% of the stock is currently owned by company insiders.

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.