Crossmark Global Holdings Inc. Sells 1,656 Shares of Snap-On Incorporated $SNA

Crossmark Global Holdings Inc. cut its holdings in Snap-On Incorporated (NYSE:SNA) by 4.3% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 36,556 shares of the company’s stock after selling 1,656 shares during the quarter. Crossmark Global Holdings Inc. owned about 0.07% of Snap-On worth $12,668,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in SNA. Tobam bought a new position in shares of Snap-On in the 2nd quarter worth $29,000. Vermillion & White Wealth Management Group LLC lifted its stake in Snap-On by 97.9% in the second quarter. Vermillion & White Wealth Management Group LLC now owns 95 shares of the company’s stock valued at $30,000 after buying an additional 47 shares during the period. SJS Investment Consulting Inc. lifted its stake in Snap-On by 1,880.0% in the third quarter. SJS Investment Consulting Inc. now owns 99 shares of the company’s stock valued at $34,000 after buying an additional 94 shares during the period. Quent Capital LLC bought a new position in Snap-On during the third quarter worth about $36,000. Finally, CoreFirst Bank & Trust acquired a new position in shares of Snap-On during the 2nd quarter worth about $37,000. Institutional investors own 84.88% of the company’s stock.

Snap-On Stock Down 0.4%

Shares of SNA stock opened at $382.15 on Friday. Snap-On Incorporated has a 12-month low of $289.81 and a 12-month high of $390.13. The company has a quick ratio of 3.68, a current ratio of 4.79 and a debt-to-equity ratio of 0.20. The firm has a fifty day moving average of $370.41 and a 200-day moving average of $349.33. The company has a market capitalization of $19.84 billion, a price-to-earnings ratio of 19.91, a P/E/G ratio of 2.65 and a beta of 0.78.

Snap-On (NYSE:SNA) last announced its earnings results on Thursday, February 5th. The company reported $4.94 earnings per share for the quarter, topping analysts’ consensus estimates of $4.86 by $0.08. Snap-On had a net margin of 21.44% and a return on equity of 17.34%. The firm had revenue of $1.23 billion during the quarter, compared to analyst estimates of $1.24 billion. During the same period in the prior year, the business earned $4.82 EPS. The company’s revenue for the quarter was up 2.8% compared to the same quarter last year. As a group, equities research analysts predict that Snap-On Incorporated will post 19.79 earnings per share for the current fiscal year.

Snap-On Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 10th. Investors of record on Tuesday, February 24th will be given a $2.44 dividend. This represents a $9.76 dividend on an annualized basis and a yield of 2.6%. The ex-dividend date of this dividend is Tuesday, February 24th. Snap-On’s dividend payout ratio (DPR) is currently 50.86%.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on SNA shares. Tigress Financial increased their price target on shares of Snap-On from $405.00 to $445.00 and gave the company a “buy” rating in a research report on Friday, February 27th. Roth Mkm reiterated a “buy” rating and issued a $409.00 target price (up from $385.00) on shares of Snap-On in a report on Tuesday, February 10th. Robert W. Baird set a $375.00 price target on shares of Snap-On in a report on Friday, February 6th. Wall Street Zen cut shares of Snap-On from a “buy” rating to a “hold” rating in a research report on Saturday, February 7th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Snap-On in a report on Wednesday, January 21st. Five equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $377.33.

Insider Transactions at Snap-On

In related news, CFO Aldo John Pagliari sold 7,043 shares of the stock in a transaction on Thursday, February 19th. The shares were sold at an average price of $382.05, for a total transaction of $2,690,778.15. Following the completion of the transaction, the chief financial officer owned 117,183 shares in the company, valued at approximately $44,769,765.15. This represents a 5.67% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Timothy L. Chambers sold 8,000 shares of the firm’s stock in a transaction on Wednesday, February 4th. The shares were sold at an average price of $385.13, for a total transaction of $3,081,040.00. Following the completion of the transaction, the senior vice president directly owned 19,480 shares of the company’s stock, valued at approximately $7,502,332.40. This trade represents a 29.11% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 46,429 shares of company stock worth $17,598,523. 3.90% of the stock is currently owned by insiders.

About Snap-On

Snap‑On Incorporated (NYSE: SNA) is a designer, manufacturer and marketer of tools, diagnostic equipment, repair information and shop equipment for professional users. The company’s product range includes hand and power tools, tool storage and cabinets, diagnostic scan tools and software, shop equipment such as lifts and tire changers, and specialized specialty tools for automotive, aviation, marine and industrial applications. Snap‑On also offers information and workflow solutions that combine diagnostic data, repair procedures and parts information to support professional technicians.

Founded in 1920 and headquartered in Kenosha, Wisconsin, Snap‑On has established a long history in the professional tools market.