Toronto Dominion Bank Sells 8,603 Shares of Snap-on Incorporated (NYSE:SNA)

Toronto Dominion Bank cut its position in Snap-on Incorporated (NYSE:SNA) by 32.8% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 17,665 shares of the company’s stock after selling 8,603 shares during the period. Toronto Dominion Bank’s holdings in Snap-on were worth $5,118,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Coldstream Capital Management Inc. boosted its position in shares of Snap-on by 2.5% in the third quarter. Coldstream Capital Management Inc. now owns 1,831 shares of the company’s stock valued at $536,000 after acquiring an additional 44 shares during the period. Geode Capital Management LLC raised its stake in Snap-on by 4.5% in the 3rd quarter. Geode Capital Management LLC now owns 1,613,459 shares of the company’s stock worth $466,199,000 after purchasing an additional 69,590 shares in the last quarter. Disciplined Growth Investors Inc. MN boosted its holdings in Snap-on by 4.4% in the 3rd quarter. Disciplined Growth Investors Inc. MN now owns 381,119 shares of the company’s stock valued at $110,414,000 after purchasing an additional 16,079 shares during the period. Resources Management Corp CT ADV grew its position in shares of Snap-on by 9.1% during the 3rd quarter. Resources Management Corp CT ADV now owns 6,988 shares of the company’s stock worth $2,024,000 after purchasing an additional 585 shares in the last quarter. Finally, Barclays PLC increased its holdings in shares of Snap-on by 1.8% during the third quarter. Barclays PLC now owns 100,262 shares of the company’s stock worth $29,044,000 after purchasing an additional 1,803 shares during the period. 84.88% of the stock is owned by institutional investors and hedge funds.

Snap-on Trading Down 0.1 %

Shares of SNA opened at $355.11 on Friday. 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 52-week low of $252.98 and a 52-week high of $373.89. The firm has a market cap of $18.65 billion, a price-to-earnings ratio of 18.28, a PEG ratio of 2.35 and a beta of 0.98. The business’s fifty day moving average is $340.72 and its 200-day moving average is $297.21.

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

Snap-on Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Investors of record on Thursday, November 21st were given a dividend of $2.14 per share. This represents a $8.56 dividend on an annualized basis and a yield of 2.41%. This is a boost from Snap-on’s previous quarterly dividend of $1.86. The ex-dividend date was Thursday, November 21st. Snap-on’s dividend payout ratio is currently 44.06%.

Insider Activity at Snap-on

In other Snap-on news, CEO Nicholas T. Pinchuk sold 21,783 shares of the company’s stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $354.83, for a total value of $7,729,261.89. Following the completion of the transaction, the chief executive officer now owns 769,738 shares of the company’s stock, valued at $273,126,134.54. This represents a 2.75 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Iain Boyd sold 6,044 shares of Snap-on stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $298.99, for a total value of $1,807,095.56. Following the sale, the vice president now directly owns 10,493 shares in the company, valued at $3,137,302.07. The trade was a 36.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 45,814 shares of company stock valued at $15,627,963 in the last quarter. Insiders own 4.10% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on SNA. Roth Mkm boosted their price target on Snap-on from $324.00 to $365.00 and gave the company a “buy” rating in a research note on Tuesday, October 22nd. Barrington Research increased their target price on Snap-on from $325.00 to $350.00 and gave the stock an “outperform” rating in a report on Thursday, October 17th. Bank of America raised their price target on Snap-on from $255.00 to $280.00 and gave the stock an “underperform” rating in a research report on Friday, October 18th. Tigress Financial upped their price objective 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. Finally, Robert W. Baird raised their target price on shares of Snap-on from $290.00 to $347.00 and gave the company a “neutral” 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 issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average 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.