Crossmark Global Holdings Inc. Sells 2,427 Shares of Snap-on Incorporated (NYSE:SNA)

Crossmark Global Holdings Inc. cut its stake in shares of Snap-on Incorporated (NYSE:SNA) by 5.8% in the fourth quarter, Holdings Channel reports. The firm owned 39,236 shares of the company’s stock after selling 2,427 shares during the quarter. Crossmark Global Holdings Inc.’s holdings in Snap-on were worth $13,320,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Aurora Investment Counsel lifted its position in Snap-on by 0.9% in the 3rd quarter. Aurora Investment Counsel now owns 3,549 shares of the company’s stock valued at $1,028,000 after acquiring an additional 30 shares in the last quarter. UMB Bank n.a. increased its stake in Snap-on by 70.5% in the 4th quarter. UMB Bank n.a. now owns 75 shares of the company’s stock valued at $25,000 after buying an additional 31 shares during the last quarter. Lake Street Advisors Group LLC boosted its stake in shares of Snap-on by 3.1% during the 3rd quarter. Lake Street Advisors Group LLC now owns 1,074 shares of the company’s stock worth $311,000 after buying an additional 32 shares during the last quarter. Metis Global Partners LLC increased its holdings in Snap-on by 1.9% during the third quarter. Metis Global Partners LLC now owns 1,691 shares of the company’s stock worth $490,000 after buying an additional 32 shares during the last quarter. Finally, Tradition Wealth Management LLC grew its holdings in Snap-on by 3.1% during the third quarter. Tradition Wealth Management LLC now owns 1,154 shares of the company’s stock worth $334,000 after purchasing an additional 35 shares during the period. 84.88% of the stock is currently owned by institutional investors and hedge funds.

Snap-on Stock Up 0.7 %

Snap-on stock opened at $348.17 on Tuesday. The company has a quick ratio of 3.14, a current ratio of 4.18 and a debt-to-equity ratio of 0.22. The company has a market capitalization of $18.28 billion, a PE ratio of 17.92, a PEG ratio of 2.19 and a beta of 1.00. The firm’s fifty day moving average is $351.05 and its 200 day moving average is $311.39. Snap-on Incorporated has a 12-month low of $252.98 and a 12-month high of $373.89.

Snap-on Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 10th. Investors of record on Thursday, November 21st were given a $2.14 dividend. This represents a $8.56 dividend on an annualized basis and a yield of 2.46%. This is a positive change from Snap-on’s previous quarterly dividend of $1.86. The ex-dividend date of this dividend was Thursday, November 21st. Snap-on’s payout ratio is presently 44.06%.

Insiders Place Their Bets

In other news, VP June C. Lemerand sold 3,500 shares of the firm’s stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $362.86, for a total transaction of $1,270,010.00. Following the completion of the sale, the vice president now directly owns 2,289 shares of the company’s stock, valued at $830,586.54. This trade represents a 60.46 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Thomas J. Ward sold 12,737 shares of the business’s stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $333.21, for a total transaction of $4,244,095.77. Following the completion of the transaction, the senior vice president now directly owns 55,401 shares in the company, valued at $18,460,167.21. This trade represents a 18.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 44,929 shares of company stock worth $15,645,074. Corporate insiders own 4.10% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have commented on SNA. 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. Robert W. Baird raised their price target on Snap-on from $290.00 to $347.00 and gave the stock a “neutral” rating in a research report on Friday, October 18th. Roth Mkm raised their target price on shares of Snap-on from $324.00 to $365.00 and gave the company a “buy” rating in a report on Tuesday, October 22nd. Tigress Financial increased their price target 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, Bank of America raised their target price on Snap-on from $255.00 to $280.00 and gave the company an “underperform” rating in a report on Friday, October 18th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $345.40.

About Snap-on

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.