Glenmede Trust Co. NA Sells 1,769 Shares of Snap-on Incorporated (NYSE:SNA)

Glenmede Trust Co. NA decreased its holdings in shares of Snap-on Incorporated (NYSE:SNA) by 1.5% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 117,469 shares of the company’s stock after selling 1,769 shares during the period. Glenmede Trust Co. NA owned approximately 0.22% of Snap-on worth $34,032,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the business. Townsquare Capital LLC grew its stake in shares of Snap-on by 3.2% in the 3rd quarter. Townsquare Capital LLC now owns 26,085 shares of the company’s stock worth $7,557,000 after acquiring an additional 811 shares in the last quarter. Transamerica Financial Advisors Inc. purchased a new position in Snap-on during the third quarter worth about $92,000. BNP Paribas Financial Markets grew its position in Snap-on by 111.4% in the 3rd quarter. BNP Paribas Financial Markets now owns 107,724 shares of the company’s stock worth $31,209,000 after purchasing an additional 56,776 shares in the last quarter. Brooklyn Investment Group bought a new stake in Snap-on in the 3rd quarter worth about $39,000. Finally, Quantbot Technologies LP increased its stake in Snap-on by 121.6% in the 3rd quarter. Quantbot Technologies LP now owns 10,798 shares of the company’s stock valued at $3,128,000 after buying an additional 5,926 shares during the last quarter. 84.88% of the stock is currently owned by institutional investors and hedge funds.

Snap-on Trading Down 0.6 %

Shares of SNA opened at $369.23 on Thursday. The firm has a market cap of $19.39 billion, a P/E ratio of 19.00, a price-to-earnings-growth ratio of 2.45 and a beta of 0.96. Snap-on Incorporated has a fifty-two week low of $252.98 and a fifty-two week high of $373.89. The company has a debt-to-equity ratio of 0.22, a quick ratio of 3.14 and a current ratio of 4.18. The business has a 50-day moving average of $321.25 and a 200 day moving average of $289.52.

Snap-on (NYSE:SNA) last announced its quarterly earnings results on Thursday, October 17th. The company reported $4.70 EPS for the quarter, beating analysts’ consensus estimates of $4.58 by $0.12. The company had revenue of $1.15 billion for the quarter, compared to analysts’ expectations of $1.16 billion. Snap-on had a net margin of 22.13% and a return on equity of 19.44%. As a group, research analysts forecast that Snap-on Incorporated will post 19.05 EPS for the current year.

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

Snap-on Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Thursday, November 21st will be given a $2.14 dividend. The ex-dividend date is Thursday, November 21st. This is a boost from Snap-on’s previous quarterly dividend of $1.86. This represents a $8.56 annualized dividend and a dividend yield of 2.32%. Snap-on’s payout ratio is 44.06%.

Insider Buying and Selling

In other Snap-on news, VP Richard Thomas Miller sold 1,750 shares of the stock in a transaction that occurred on Friday, October 18th. The shares were sold at an average price of $330.00, for a total value of $577,500.00. Following the sale, the vice president now directly owns 3,218 shares in the company, valued at $1,061,940. This represents a 35.23 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Thomas J. Ward sold 12,737 shares of the business’s stock in a transaction on Monday, October 28th. The shares were sold at an average price of $333.21, for a total transaction of $4,244,095.77. Following the transaction, the senior vice president now owns 55,401 shares of the company’s stock, valued at $18,460,167.21. This trade represents a 18.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 20,531 shares of company stock valued at $6,628,691. Corporate insiders own 4.10% of the company’s stock.

Analysts Set New Price Targets

SNA has been the topic of a number of research analyst reports. Tigress Financial boosted their target price on Snap-on from $336.00 to $385.00 and gave the stock a “buy” rating in a research note on Friday, October 25th. Roth Mkm boosted their price objective on 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 upped their price objective on Snap-on from $325.00 to $350.00 and gave the company an “outperform” rating in a research note on Thursday, October 17th. Robert W. Baird lifted their target price on Snap-on from $290.00 to $347.00 and gave the stock a “neutral” rating in a research note on Friday, October 18th. 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 report on Friday, October 18th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, Snap-on has an average rating of “Hold” and a consensus price target of $345.40.

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.