Gryphon Financial Partners LLC Sells 72 Shares of Snap-on Incorporated (NYSE:SNA)

Gryphon Financial Partners LLC trimmed its position in shares of Snap-on Incorporated (NYSE:SNA) by 4.1% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,688 shares of the company’s stock after selling 72 shares during the quarter. Gryphon Financial Partners LLC’s holdings in Snap-on were worth $441,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of SNA. Confluence Investment Management LLC bought a new position in shares of Snap-on during the 1st quarter valued at $173,451,000. Norges Bank bought a new position in shares of Snap-on during the 4th quarter valued at $145,665,000. Mawer Investment Management Ltd. lifted its holdings in shares of Snap-on by 234.7% during the 2nd quarter. Mawer Investment Management Ltd. now owns 632,226 shares of the company’s stock valued at $165,258,000 after buying an additional 443,333 shares during the period. Glassman Wealth Services bought a new position in shares of Snap-on during the 2nd quarter valued at $26,608,000. Finally, Earnest Partners LLC lifted its holdings in shares of Snap-on by 9.9% during the 1st quarter. Earnest Partners LLC now owns 929,710 shares of the company’s stock valued at $275,399,000 after buying an additional 83,686 shares during the period. 84.88% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, CFO Aldo John Pagliari sold 4,473 shares of the firm’s stock in a transaction dated Thursday, August 22nd. The stock was 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 owns 99,244 shares in the company, valued at $27,663,272.56. The sale was disclosed in a document filed with the SEC, 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 dated Thursday, August 22nd. The stock was sold at an average price of $278.74, for a total value of $1,246,804.02. Following the sale, the chief financial officer now directly owns 99,244 shares in the company, valued at $27,663,272.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP June C. Lemerand sold 1,186 shares of the firm’s stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $283.97, for a total value of $336,788.42. Following the transaction, the vice president now owns 2,283 shares of the company’s stock, valued at approximately $648,303.51. The disclosure for this sale can be found here. In the last quarter, insiders sold 29,804 shares of company stock worth $8,077,390. Corporate insiders own 4.10% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the company. Barrington Research restated an “outperform” rating and issued a $325.00 price objective on shares of Snap-on in a research note on Tuesday, July 16th. Robert W. Baird reduced their price objective on Snap-on from $282.00 to $275.00 and set a “neutral” rating for the company in a research note on Friday, July 12th. Roth Mkm restated a “buy” rating and issued a $324.00 price objective on shares of Snap-on in a research note on Tuesday, July 16th. Finally, Tigress Financial restated a “buy” rating and issued a $336.00 price objective on shares of Snap-on in a research note on Thursday, July 25th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $315.00.

Snap-on Trading Down 0.5 %

Shares of SNA stock opened at $275.74 on Wednesday. Snap-on Incorporated has a 52-week low of $249.84 and a 52-week high of $298.49. The company has a debt-to-equity ratio of 0.22, a quick ratio of 3.05 and a current ratio of 4.06. The firm has a market capitalization of $14.53 billion, a PE ratio of 14.47, a PEG ratio of 1.88 and a beta of 0.98. The stock has a fifty day simple moving average of $273.94 and a two-hundred day simple moving average of $276.43.

Snap-on (NYSE:SNA) last issued its quarterly earnings results on Thursday, July 18th. The company reported $5.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.94 by $0.13. Snap-on had a return on equity of 19.90% and a net margin of 21.90%. The business had revenue of $1.18 billion during the quarter, compared to analyst estimates of $1.20 billion. During the same quarter in the prior year, the business posted $4.89 EPS. Snap-on’s revenue for the quarter was down 1.0% compared to the same quarter last year. On average, analysts predict that Snap-on Incorporated will post 18.95 EPS for the current fiscal year.

Snap-on declared that its board has approved a stock buyback plan on Thursday, August 8th that allows the company to buyback $500.00 million in shares. This buyback authorization allows the company to reacquire up to 3.5% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s leadership believes its shares are undervalued.

Snap-on Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Monday, August 19th were paid a $1.86 dividend. The ex-dividend date of this dividend was Monday, August 19th. This represents a $7.44 dividend on an annualized basis and a yield of 2.70%. Snap-on’s payout ratio is presently 39.03%.

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.