Crossmark Global Holdings Inc. Has $12.07 Million Stock Position in Snap-on Incorporated (NYSE:SNA)

Crossmark Global Holdings Inc. reduced its holdings in Snap-on Incorporated (NYSE:SNA) by 2.5% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 41,663 shares of the company’s stock after selling 1,064 shares during the period. Crossmark Global Holdings Inc.’s holdings in Snap-on were worth $12,070,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Earnest Partners LLC grew its position in Snap-on by 1.4% during the second quarter. Earnest Partners LLC now owns 942,743 shares of the company’s stock worth $246,424,000 after buying an additional 13,033 shares in the last quarter. Pacer Advisors Inc. grew its holdings in shares of Snap-on by 51.2% during the 2nd 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 in the last quarter. Dimensional Fund Advisors LP increased its position in shares of Snap-on by 8.7% during the second quarter. Dimensional Fund Advisors LP now owns 817,536 shares of the company’s stock valued at $213,686,000 after purchasing an additional 65,485 shares during the period. Envestnet Asset Management Inc. raised its stake in shares of Snap-on by 0.4% in the second quarter. Envestnet Asset Management Inc. now owns 732,571 shares of the company’s stock valued at $191,487,000 after purchasing an additional 2,616 shares in the last quarter. Finally, Mawer Investment Management Ltd. lifted 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 purchasing an additional 443,333 shares during the period. 84.88% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the stock. Roth Mkm boosted their price target 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. Robert W. Baird upped their target price on shares of 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 raised their price target on shares of Snap-on from $325.00 to $350.00 and gave the stock an “outperform” rating in a research note on Thursday, October 17th. 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 note on Friday, October 18th. Finally, Tigress Financial raised their target price on Snap-on from $336.00 to $385.00 and gave the stock a “buy” rating in a research report on Friday, October 25th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, Snap-on has an average rating of “Hold” and a consensus price target of $345.40.

Insider Buying and Selling

In related 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 owns 759,019 shares of the company’s stock, 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 document filed with the SEC, which is available at the SEC website. In related news, CEO Nicholas T. Pinchuk sold 24,145 shares of the firm’s stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $268.95, for a total value of $6,493,797.75. Following the transaction, the chief executive officer now 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, 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 of the company’s stock, valued at $27,663,272.56. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 50,335 shares of company stock worth $14,706,082 in the last 90 days. Corporate insiders own 4.10% of the company’s stock.

Snap-on Price Performance

Snap-on stock traded up $6.14 during trading hours on Friday, hitting $359.27. 356,872 shares of the stock were exchanged, compared to its average volume of 488,737. The stock has a market capitalization of $18.87 billion, a P/E ratio of 18.49, a P/E/G ratio of 2.38 and a beta of 0.96. The business’s 50-day moving average is $301.16 and its two-hundred day moving average is $281.97. The company has a debt-to-equity ratio of 0.22, a quick ratio of 3.14 and a current ratio of 4.18. Snap-on Incorporated has a 12 month low of $252.98 and a 12 month high of $360.41.

Snap-on (NYSE:SNA) last released its quarterly earnings results on Thursday, October 17th. The company reported $4.70 EPS for the quarter, topping analysts’ consensus estimates of $4.58 by $0.12. The business had revenue of $1.15 billion for the quarter, compared to analyst estimates of $1.16 billion. Snap-on had a return on equity of 19.44% and a net margin of 22.13%. Equities research analysts expect that Snap-on Incorporated will post 19.05 EPS for the current fiscal year.

Snap-on Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Thursday, November 21st will be issued a $2.14 dividend. This represents a $8.56 dividend on an annualized basis and a dividend yield of 2.38%. This is a boost from Snap-on’s previous quarterly dividend of $1.86. The ex-dividend date is Thursday, November 21st. Snap-on’s payout ratio is currently 38.29%.

Snap-on announced that its board has approved a share repurchase program 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 shares through open market purchases. Shares buyback programs are often a sign that the company’s board believes its shares are undervalued.

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.