Greenleaf Trust Grows Stock Holdings in Snap-on Incorporated (NYSE:SNA)

Greenleaf Trust grew its holdings in Snap-on Incorporated (NYSE:SNA) by 3.1% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,013 shares of the company’s stock after buying an additional 30 shares during the period. Greenleaf Trust’s holdings in Snap-on were worth $344,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently made changes to their positions in the business. Asset Management One Co. Ltd. increased its stake in Snap-on by 0.3% during 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 during the last quarter. Sanctuary Advisors LLC boosted its holdings in shares of Snap-on by 3.6% in the 3rd quarter. Sanctuary Advisors LLC now owns 45,783 shares of the company’s stock worth $13,264,000 after purchasing an additional 1,605 shares during the period. World Investment Advisors LLC bought a new position in shares of Snap-on during the 3rd quarter valued at approximately $19,291,000. Avanza Fonder AB purchased a new stake in Snap-on during the 4th quarter valued at $1,936,000. Finally, Integrated Wealth Concepts LLC lifted its position in Snap-on by 220.7% in the third quarter. Integrated Wealth Concepts LLC now owns 2,716 shares of the company’s stock worth $787,000 after buying an additional 1,869 shares during the last quarter. 84.88% of the stock is currently owned by hedge funds and other institutional investors.

Snap-on Stock Performance

Shares of NYSE:SNA opened at $357.61 on Thursday. The firm’s 50 day simple moving average is $349.05 and its 200-day simple moving average is $318.38. 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 one year low of $252.98 and a one year high of $373.89. The firm has a market cap of $18.78 billion, a PE ratio of 18.41, a price-to-earnings-growth ratio of 2.23 and a beta of 0.99.

Snap-on Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Thursday, November 21st were issued a dividend of $2.14 per share. This is an increase from Snap-on’s previous quarterly dividend of $1.86. This represents a $8.56 annualized dividend and a yield of 2.39%. The ex-dividend date was Thursday, November 21st. Snap-on’s dividend payout ratio (DPR) is presently 44.06%.

Insider Buying and Selling at Snap-on

In related news, VP June C. Lemerand sold 3,500 shares of Snap-on stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $362.86, for a total value of $1,270,010.00. Following the completion of the sale, the vice president now directly owns 2,289 shares in the company, valued at $830,586.54. The trade was a 60.46 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO Aldo John Pagliari sold 6,909 shares of the stock in a transaction dated Wednesday, December 18th. The stock was sold at an average price of $347.62, for a total transaction of $2,401,706.58. Following the transaction, the chief financial officer now owns 100,668 shares in the company, valued at approximately $34,994,210.16. The trade was a 6.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 32,192 shares of company stock valued at $11,400,978 in the last ninety days. Corporate insiders own 4.10% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on SNA shares. Robert W. Baird increased their target price on shares of Snap-on from $290.00 to $347.00 and gave the company a “neutral” rating in a research note on Friday, October 18th. Roth Mkm increased their price objective on shares of Snap-on from $324.00 to $365.00 and gave the stock a “buy” rating in a research report on Tuesday, October 22nd. Barrington Research restated an “outperform” rating and set a $360.00 target price on shares of Snap-on in a research report on Monday. Bank of America increased their price target on Snap-on from $255.00 to $280.00 and gave the stock an “underperform” rating in a report on Friday, October 18th. Finally, Tigress Financial boosted their price objective on Snap-on from $336.00 to $385.00 and gave the company a “buy” rating in a report on Friday, October 25th. One 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. Based on data from MarketBeat, Snap-on presently has an average rating of “Hold” and an average target price of $347.40.

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.