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

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

A number of other hedge funds have also recently made changes to their positions in the stock. Opal Wealth Advisors LLC acquired a new stake in shares of Snap-on during the second quarter worth about $30,000. Innealta Capital LLC acquired a new stake in Snap-on during the 2nd quarter worth approximately $32,000. Massmutual Trust Co. FSB ADV boosted its position in Snap-on by 53.0% in the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 127 shares of the company’s stock valued at $37,000 after buying an additional 44 shares during the period. Quarry LP increased its position in shares of Snap-on by 244.7% during the second quarter. Quarry LP now owns 162 shares of the company’s stock worth $42,000 after acquiring an additional 115 shares during the period. Finally, Versant Capital Management Inc raised its stake in shares of Snap-on by 529.0% in the second quarter. Versant Capital Management Inc now owns 195 shares of the company’s stock valued at $51,000 after acquiring an additional 164 shares in the last quarter. Hedge funds and other institutional investors own 84.88% of the company’s stock.

Insiders Place Their Bets

In related news, CEO Nicholas T. Pinchuk sold 24,145 shares of the company’s stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $268.95, for a total value of $6,493,797.75. Following the completion of the sale, the chief executive officer now directly owns 759,019 shares of the company’s stock, valued at $204,138,160.05. This 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 the SEC website. In other Snap-on news, CFO Aldo John Pagliari sold 4,473 shares of Snap-on stock in a transaction on Thursday, August 22nd. The shares were sold at an average price of $278.74, for a total value of $1,246,804.02. Following the transaction, the chief financial officer now directly owns 99,244 shares in the company, valued at approximately $27,663,272.56. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Nicholas T. Pinchuk sold 24,145 shares of the company’s 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 directly owns 759,019 shares of the company’s stock, valued at $204,138,160.05. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 37,598 shares of company stock valued at $10,461,986. 4.10% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on SNA shares. Bank of America boosted their target price on Snap-on from $255.00 to $280.00 and gave the stock an “underperform” rating in a research note on Friday, October 18th. Tigress Financial lifted their price target on shares of Snap-on from $336.00 to $385.00 and gave the stock a “buy” rating in a research note on Friday. Robert W. Baird increased their price objective 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. Barrington Research lifted their price objective on shares of Snap-on from $325.00 to $350.00 and gave the stock an “outperform” rating in a research report on Thursday, October 17th. Finally, Roth Mkm increased their target price on Snap-on from $324.00 to $365.00 and gave the company a “buy” rating in a report on Tuesday. 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. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $345.40.

Snap-on Stock Up 0.3 %

Shares of NYSE:SNA opened at $326.62 on Friday. The firm has a 50 day simple moving average of $289.40 and a 200-day simple moving average of $277.91. Snap-on Incorporated has a twelve month low of $250.30 and a twelve month high of $330.51. The company has a current ratio of 4.18, a quick ratio of 3.14 and a debt-to-equity ratio of 0.22. The company has a market capitalization of $17.15 billion, a PE ratio of 16.81, a P/E/G ratio of 2.14 and a beta of 0.98.

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

Snap-on Announces Dividend

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

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.