Snap-on Incorporated (NYSE:SNA) Shares Sold by Sigma Investment Counselors Inc.

Sigma Investment Counselors Inc. lessened its position in Snap-on Incorporated (NYSE:SNA) by 1.4% in the 3rd quarter, Holdings Channel reports. The fund owned 17,861 shares of the company’s stock after selling 258 shares during the period. Sigma Investment Counselors Inc.’s holdings in Snap-on were worth $5,174,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in SNA. Lake Street Advisors Group LLC raised its holdings in Snap-on by 3.1% during the third quarter. Lake Street Advisors Group LLC now owns 1,074 shares of the company’s stock worth $311,000 after purchasing an additional 32 shares in the last quarter. Dumont & Blake Investment Advisors LLC acquired a new position in Snap-on during the 3rd quarter worth approximately $209,000. Ballentine Partners LLC lifted its holdings in shares of Snap-on by 13.9% in the 3rd quarter. Ballentine Partners LLC now owns 1,130 shares of the company’s stock valued at $327,000 after buying an additional 138 shares during the period. Impact Partnership Wealth LLC acquired a new stake in shares of Snap-on in the 3rd quarter valued at approximately $551,000. Finally, Hennion & Walsh Asset Management Inc. grew its holdings in Snap-on by 10.5% during the third quarter. Hennion & Walsh Asset Management Inc. now owns 2,906 shares of the company’s stock worth $842,000 after acquiring an additional 276 shares during the period. Hedge funds and other institutional investors own 84.88% of the company’s stock.

Analyst Ratings Changes

A number of research firms have commented on SNA. Barrington Research raised their target price on Snap-on from $325.00 to $350.00 and gave the company an “outperform” rating in a report on Thursday, October 17th. Roth Mkm boosted their price objective on shares of Snap-on from $324.00 to $365.00 and gave the stock a “buy” rating in a report on Tuesday. Robert W. Baird lifted their price target on shares of Snap-on from $290.00 to $347.00 and gave the company a “neutral” rating in a research report on Friday, October 18th. Bank of America upped 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 lifted their price objective on Snap-on from $336.00 to $385.00 and gave the stock a “buy” rating in a report on Friday. One research analyst has rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $345.40.

Snap-on Trading Up 0.3 %

Shares of SNA opened at $326.62 on Friday. Snap-on Incorporated has a 1-year low of $250.30 and a 1-year high of $330.51. The company has a debt-to-equity ratio of 0.22, a current ratio of 4.18 and a quick ratio of 3.14. The firm has a 50 day simple moving average of $289.40 and a 200-day simple moving average of $277.91. The stock has a market cap of $17.15 billion, a price-to-earnings ratio of 16.81, a price-to-earnings-growth ratio of 2.14 and a beta of 0.98.

Snap-on Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Monday, August 19th were given a dividend of $1.86 per share. This represents a $7.44 dividend on an annualized basis and a yield of 2.28%. The ex-dividend date of this dividend was Monday, August 19th. Snap-on’s dividend payout ratio is presently 38.29%.

Snap-on declared that its Board of Directors has authorized a stock repurchase plan on Thursday, August 8th that permits the company to repurchase $500.00 million in shares. This repurchase authorization permits the company to repurchase up to 3.5% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s management believes its shares are undervalued.

Insider Activity at Snap-on

In related 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 sale, the chief executive officer now owns 759,019 shares in the company, valued at approximately $204,138,160.05. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Snap-on news, CEO Nicholas T. Pinchuk sold 24,145 shares of Snap-on stock in a transaction on Monday, August 12th. The shares were sold at an average price of $268.95, for a total value of $6,493,797.75. Following the transaction, the chief executive officer now owns 759,019 shares in the company, 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 Securities & Exchange Commission, which is available through this link. Also, CFO Aldo John Pagliari sold 4,473 shares of the stock in a transaction that occurred on Thursday, August 22nd. The stock was sold at an average price of $278.74, for a total transaction of $1,246,804.02. Following the sale, the chief financial officer now directly owns 99,244 shares of the company’s stock, valued at approximately $27,663,272.56. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 37,598 shares of company stock valued at $10,461,986. 4.10% of the stock is owned by insiders.

Snap-on 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.