Heartland Bank & Trust Co Has $529,000 Position in Snap-on Incorporated (NYSE:SNA)

Heartland Bank & Trust Co trimmed its holdings in Snap-on Incorporated (NYSE:SNA) by 3.3% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,827 shares of the company’s stock after selling 62 shares during the quarter. Heartland Bank & Trust Co’s holdings in Snap-on were worth $529,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently made changes to their positions in SNA. Mawer Investment Management Ltd. increased its position in Snap-on by 234.7% in the second quarter. Mawer Investment Management Ltd. now owns 632,226 shares of the company’s stock worth $165,258,000 after buying an additional 443,333 shares during the last quarter. Pacer Advisors Inc. lifted its stake in Snap-on by 51.2% during the second quarter. Pacer Advisors Inc. now owns 829,471 shares of the company’s stock worth $216,815,000 after purchasing an additional 280,997 shares during the last quarter. Millennium Management LLC lifted its stake in Snap-on by 1,786.4% during the second quarter. Millennium Management LLC now owns 161,175 shares of the company’s stock worth $42,130,000 after purchasing an additional 152,631 shares during the last quarter. Glassman Wealth Services bought a new stake in Snap-on during the second quarter worth about $26,608,000. Finally, Earnest Partners LLC lifted its stake in Snap-on by 9.9% during the first quarter. Earnest Partners LLC now owns 929,710 shares of the company’s stock worth $275,399,000 after purchasing an additional 83,686 shares during the last quarter. 84.88% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Snap-on

In other Snap-on news, CEO Nicholas T. Pinchuk sold 24,145 shares of the firm’s stock in a transaction that occurred on Monday, August 12th. The shares were 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 in the company, valued at $204,138,160.05. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CFO Aldo John Pagliari sold 4,473 shares of the business’s stock in a transaction on Thursday, August 22nd. The shares were sold at an average price of $278.74, for a total transaction of $1,246,804.02. Following the completion of the transaction, the chief financial officer now directly owns 99,244 shares in the company, valued at $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 is available at this hyperlink. Also, CEO Nicholas T. Pinchuk sold 24,145 shares of Snap-on stock in a transaction on 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 transaction, 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 position. The disclosure for this sale can be found here. Insiders have sold a total of 37,598 shares of company stock valued at $10,461,986 over the last ninety days. 4.10% of the stock is owned by company insiders.

Snap-on Stock Up 0.6 %

Shares of NYSE:SNA opened at $325.25 on Thursday. The company has a current ratio of 4.18, a quick ratio of 3.05 and a debt-to-equity ratio of 0.22. Snap-on Incorporated has a 12 month low of $249.84 and a 12 month high of $330.51. The company has a market cap of $17.15 billion, a price-to-earnings ratio of 17.06, a PEG ratio of 2.26 and a beta of 0.98. The company has a 50-day moving average price of $287.40 and a 200 day moving average price of $277.35.

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

Snap-on Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Monday, August 19th were given a dividend of $1.86 per share. This represents a $7.44 dividend on an annualized basis and a dividend yield of 2.29%. The ex-dividend date was Monday, August 19th. Snap-on’s dividend payout ratio (DPR) is presently 39.03%.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on SNA shares. Robert W. Baird lifted their price objective on Snap-on from $290.00 to $347.00 and gave the stock a “neutral” rating in a report on Friday, October 18th. Tigress Financial reaffirmed a “buy” rating and set a $336.00 price objective on shares of Snap-on in a research report on Thursday, July 25th. Roth Mkm boosted their price target on Snap-on from $324.00 to $365.00 and gave the stock a “buy” rating in a research report on Tuesday. Bank of America upped their price objective on Snap-on from $255.00 to $280.00 and gave the company an “underperform” rating in a research report on Friday, October 18th. Finally, 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 report on Thursday, October 17th. One analyst has rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, Snap-on currently has an average rating of “Hold” and an average target price of $335.60.

Snap-on Company 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.