Toronto Dominion Bank lowered its holdings in shares of Snap-on Incorporated (NYSE:SNA - Free Report) by 32.8% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 17,665 shares of the company's stock after selling 8,603 shares during the quarter. Toronto Dominion Bank's holdings in Snap-on were worth $5,118,000 at the end of the most recent quarter.
Several other institutional investors have also modified their holdings of SNA. Reston Wealth Management LLC acquired a new stake in Snap-on during the 3rd quarter worth approximately $30,000. Innealta Capital LLC bought a new stake in shares of Snap-on during the second quarter worth $32,000. Massmutual Trust Co. FSB ADV raised its holdings in shares of Snap-on by 53.0% during the third quarter. Massmutual Trust Co. FSB ADV now owns 127 shares of the company's stock worth $37,000 after acquiring an additional 44 shares during the period. Brooklyn Investment Group bought a new stake in Snap-on in the 3rd quarter valued at $39,000. Finally, Quarry LP boosted its stake in Snap-on by 244.7% in the 2nd quarter. Quarry LP now owns 162 shares of the company's stock worth $42,000 after purchasing an additional 115 shares during the period. Institutional investors own 84.88% of the company's stock.
SNA stock opened at $355.11 on Friday. The company has a market cap of $18.65 billion, a price-to-earnings ratio of 18.28, a P/E/G ratio of 2.35 and a beta of 0.98. Snap-on Incorporated has a twelve month low of $252.98 and a twelve month high of $373.89. The business has a 50 day moving average price of $340.72 and a two-hundred day moving average price of $297.21. The company has a quick ratio of 3.14, a current ratio of 4.18 and a debt-to-equity ratio of 0.22.
Snap-on (NYSE:SNA - Get Free Report) last released its earnings results on Thursday, October 17th. The company reported $4.70 earnings per share for the quarter, beating the consensus estimate of $4.58 by $0.12. Snap-on had a net margin of 22.13% and a return on equity of 19.44%. The business had revenue of $1.15 billion during the quarter, compared to analysts' expectations of $1.16 billion. Analysts anticipate that Snap-on Incorporated will post 19.05 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Thursday, November 21st were issued a $2.14 dividend. This represents a $8.56 dividend on an annualized basis and a dividend yield of 2.41%. This is a boost from Snap-on's previous quarterly dividend of $1.86. The ex-dividend date of this dividend was Thursday, November 21st. Snap-on's dividend payout ratio is presently 44.06%.
Several analysts have issued reports on the company. Robert W. Baird lifted their price target on Snap-on from $290.00 to $347.00 and gave the company a "neutral" rating in a research note on Friday, October 18th. Barrington Research boosted their target price on Snap-on from $325.00 to $350.00 and gave the company an "outperform" rating in a research note on Thursday, October 17th. Tigress Financial raised 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, October 25th. Bank of America lifted their price objective on shares of Snap-on from $255.00 to $280.00 and gave the company an "underperform" rating in a report on Friday, October 18th. Finally, Roth Mkm increased their target price on shares of Snap-on from $324.00 to $365.00 and gave the stock a "buy" rating in a report on Tuesday, October 22nd. One analyst has rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $345.40.
Get Our Latest Stock Analysis on Snap-on
In related news, VP Richard Thomas Miller sold 1,750 shares of the business's stock in a transaction that occurred on Friday, October 18th. The stock was sold at an average price of $330.00, for a total transaction of $577,500.00. Following the transaction, the vice president now directly owns 3,218 shares of the company's stock, valued at approximately $1,061,940. The trade was a 35.23 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Iain Boyd sold 6,044 shares of the firm's stock in a transaction on 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 of the company's stock, valued at $3,137,302.07. This represents a 36.55 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 45,814 shares of company stock worth $15,627,963. Insiders own 4.10% of the company's stock.
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.
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