Blue Trust Inc. Has $1.04 Million Holdings in Snap-on Incorporated (NYSE:SNA)

Blue Trust Inc. boosted its holdings in shares of Snap-on Incorporated (NYSE:SNA) by 22.1% during the third quarter, Holdings Channel.com reports. The institutional investor owned 3,596 shares of the company’s stock after acquiring an additional 650 shares during the quarter. Blue Trust Inc.’s holdings in Snap-on were worth $1,042,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of SNA. Opal Wealth Advisors LLC acquired a new position in Snap-on during the second quarter worth approximately $30,000. Innealta Capital LLC acquired a new position in Snap-on during the second quarter worth approximately $32,000. Massmutual Trust Co. FSB ADV increased its position in Snap-on by 53.0% during the third quarter. Massmutual Trust Co. FSB ADV now owns 127 shares of the company’s stock worth $37,000 after buying an additional 44 shares during the last quarter. Quarry LP increased its position in Snap-on by 244.7% during the second quarter. Quarry LP now owns 162 shares of the company’s stock worth $42,000 after buying an additional 115 shares during the last quarter. Finally, Versant Capital Management Inc boosted its holdings in shares of Snap-on by 529.0% during the second quarter. Versant Capital Management Inc now owns 195 shares of the company’s stock worth $51,000 after acquiring an additional 164 shares during the period. Institutional investors and hedge funds own 84.88% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently issued reports on SNA. 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. Tigress Financial restated a “buy” rating and set a $336.00 price objective on shares of Snap-on in a report on Thursday, July 25th. Bank of America boosted their price objective on Snap-on from $255.00 to $280.00 and gave the stock an “underperform” rating in a report on Friday. Barrington Research boosted their price objective on Snap-on from $325.00 to $350.00 and gave the stock an “outperform” rating in a report on Thursday. Finally, Roth Mkm restated a “buy” rating and set a $324.00 price objective on shares of Snap-on in a report on Tuesday, July 16th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $327.40.

Insiders Place Their Bets

In other Snap-on news, VP Iain Boyd sold 6,044 shares of the company’s stock in a transaction on Tuesday, October 15th. The stock was 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 in the company, valued at $3,137,302.07. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, VP Iain Boyd sold 6,044 shares of the company’s 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 transaction, the vice president now directly owns 10,493 shares in the company, valued at approximately $3,137,302.07. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Nicholas T. Pinchuk sold 24,145 shares of the company’s stock in a transaction on Monday, August 12th. The stock was sold at an average price of $268.95, for a total transaction of $6,493,797.75. Following the transaction, the chief executive officer now owns 759,019 shares of the company’s stock, valued at $204,138,160.05. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 35,848 shares of company stock worth $9,884,486 over the last three months. Insiders own 4.10% of the company’s stock.

Snap-on Trading Down 0.5 %

Shares of SNA stock opened at $326.09 on Monday. The company has a current ratio of 4.06, a quick ratio of 3.05 and a debt-to-equity ratio of 0.22. The stock has a market cap of $17.19 billion, a P/E ratio of 17.11, a price-to-earnings-growth ratio of 2.06 and a beta of 0.98. The stock has a 50 day simple moving average of $284.18 and a 200 day simple moving average of $276.57. Snap-on Incorporated has a 1 year low of $249.84 and a 1 year high of $330.51.

Snap-on (NYSE:SNA) last issued its quarterly earnings results on Thursday, July 18th. The company reported $5.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.94 by $0.13. Snap-on had a return on equity of 19.90% and a net margin of 21.90%. The business had revenue of $1.18 billion during the quarter, compared to analysts’ expectations of $1.20 billion. During the same period in the previous year, the company posted $4.89 earnings per share. The firm’s revenue for the quarter was down 1.0% compared to the same quarter last year. On average, research analysts predict that Snap-on Incorporated will post 18.95 earnings per share for the current fiscal year.

Snap-on Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Monday, August 19th were paid a dividend of $1.86 per share. This represents a $7.44 annualized dividend and a yield of 2.28%. The ex-dividend date was Monday, August 19th. Snap-on’s payout ratio is presently 39.03%.

Snap-on announced that its board has authorized a share buyback plan on Thursday, August 8th that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the company to repurchase up to 3.5% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s leadership believes its stock is undervalued.

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.