Snap-on Incorporated (NYSE:SNA) Shares Sold by Harbour Investment Management LLC

Harbour Investment Management LLC decreased its holdings in shares of Snap-on Incorporated (NYSE:SNA) by 0.5% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,928 shares of the company’s stock after selling 50 shares during the quarter. Snap-on comprises approximately 1.4% of Harbour Investment Management LLC’s holdings, making the stock its 21st biggest holding. Harbour Investment Management LLC’s holdings in Snap-on were worth $3,166,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Earnest Partners LLC lifted its stake in shares of Snap-on by 1.4% during the second quarter. Earnest Partners LLC now owns 942,743 shares of the company’s stock worth $246,424,000 after purchasing an additional 13,033 shares in the last quarter. Pacer Advisors Inc. raised its holdings in shares of Snap-on by 51.2% during the 2nd quarter. Pacer Advisors Inc. now owns 829,471 shares of the company’s stock valued at $216,815,000 after buying an additional 280,997 shares during the period. Dimensional Fund Advisors LP raised its holdings in shares of Snap-on by 8.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 817,536 shares of the company’s stock valued at $213,686,000 after buying an additional 65,485 shares during the period. Envestnet Asset Management Inc. boosted its holdings in Snap-on by 0.4% in the 2nd quarter. Envestnet Asset Management Inc. now owns 732,571 shares of the company’s stock worth $191,487,000 after acquiring an additional 2,616 shares during the period. Finally, LSV Asset Management boosted its holdings in Snap-on by 0.5% in the 1st quarter. LSV Asset Management now owns 674,341 shares of the company’s stock worth $199,753,000 after acquiring an additional 3,535 shares during the period. 84.88% of the stock is owned by hedge funds and other institutional investors.

Snap-on Stock Up 0.0 %

NYSE:SNA traded up $0.16 during mid-day trading on Friday, reaching $330.29. The stock had a trading volume of 253,884 shares, compared to its average volume of 467,034. 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 company has a market capitalization of $17.34 billion, a price-to-earnings ratio of 17.00, a price-to-earnings-growth ratio of 2.18 and a beta of 0.96. Snap-on Incorporated has a 1-year low of $252.98 and a 1-year high of $337.72. The stock’s 50 day simple moving average is $294.73 and its two-hundred day simple moving average is $279.33.

Snap-on Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Monday, August 19th were given a $1.86 dividend. The ex-dividend date was Monday, August 19th. This represents a $7.44 annualized dividend and a dividend yield of 2.25%. Snap-on’s payout ratio is 38.29%.

Snap-on announced that its board has authorized a share repurchase program on Thursday, August 8th that permits the company to repurchase $500.00 million in shares. This repurchase authorization permits the company to purchase up to 3.5% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board of directors believes its stock is undervalued.

Analysts Set New Price Targets

A number of research analysts have recently commented on SNA shares. Tigress Financial boosted their target price on shares of Snap-on from $336.00 to $385.00 and gave the stock a “buy” rating in a research report on Friday, October 25th. Barrington Research upped their price objective on shares of Snap-on from $325.00 to $350.00 and gave the company an “outperform” rating in a research report on Thursday, October 17th. Roth Mkm raised their target price on Snap-on from $324.00 to $365.00 and gave the company a “buy” rating in a research note on Tuesday, October 22nd. Robert W. Baird increased their price target on Snap-on from $290.00 to $347.00 and gave the company a “neutral” rating in a report on Friday, October 18th. Finally, Bank of America lifted their price objective on 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 assigned a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, Snap-on presently has a consensus rating of “Hold” and a consensus target price of $345.40.

Insider Activity

In related news, CFO Aldo John Pagliari sold 4,473 shares of the firm’s stock in a transaction 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 transaction, the chief financial officer now directly owns 99,244 shares in the company, valued at $27,663,272.56. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Snap-on news, CFO Aldo John Pagliari sold 4,473 shares of the stock in a transaction on Thursday, August 22nd. The stock was sold at an average price of $278.74, for a total value 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 $27,663,272.56. This trade 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 available at this link. Also, CEO Nicholas T. Pinchuk sold 24,145 shares of Snap-on stock in a transaction dated 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 completion of the sale, the chief executive officer now owns 759,019 shares in the company, valued at approximately $204,138,160.05. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 50,335 shares of company stock worth $14,706,082. 4.10% of the stock is currently 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.