Busey Bank Has $395,000 Position in Snap-on Incorporated (NYSE:SNA)

Busey Bank lowered its position in shares of Snap-on Incorporated (NYSE:SNA) by 18.8% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,365 shares of the company’s stock after selling 316 shares during the quarter. Busey Bank’s holdings in Snap-on were worth $395,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the company. Renasant Bank grew its holdings in Snap-on by 2.3% during the first quarter. Renasant Bank now owns 1,592 shares of the company’s stock valued at $472,000 after purchasing an additional 36 shares during the period. TFB Advisors LLC boosted its holdings in shares of Snap-on by 3.2% in the second quarter. TFB Advisors LLC now owns 1,226 shares of the company’s stock valued at $320,000 after buying an additional 38 shares during the period. Financial Advocates Investment Management boosted its holdings in shares of Snap-on by 1.2% in the second quarter. Financial Advocates Investment Management now owns 3,360 shares of the company’s stock valued at $878,000 after buying an additional 39 shares during the period. Ritholtz Wealth Management boosted its holdings in shares of Snap-on by 4.0% in the second quarter. Ritholtz Wealth Management now owns 1,013 shares of the company’s stock valued at $265,000 after buying an additional 39 shares during the period. Finally, Mount Yale Investment Advisors LLC boosted its holdings in shares of Snap-on by 2.1% in the second quarter. Mount Yale Investment Advisors LLC now owns 1,920 shares of the company’s stock valued at $502,000 after buying an additional 39 shares during the period. Institutional investors and hedge funds own 84.88% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. Bank of America upped their price target on shares of Snap-on from $255.00 to $280.00 and gave the company an “underperform” rating in a report on Friday, October 18th. Robert W. Baird boosted their price objective on shares of 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 boosted their price objective on shares of Snap-on from $324.00 to $365.00 and gave the stock a “buy” rating in a research report on Tuesday. Tigress Financial boosted their price objective on shares of Snap-on from $336.00 to $385.00 and gave the stock a “buy” rating in a research report on Friday. Finally, Barrington Research boosted 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. One investment 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 data from MarketBeat, Snap-on currently has a consensus rating of “Hold” and an average target price of $345.40.

Snap-on Stock Performance

NYSE SNA opened at $326.62 on Friday. The company has a current ratio of 4.18, a quick ratio of 3.14 and a debt-to-equity ratio of 0.22. The firm’s fifty day moving average price is $289.40 and its two-hundred day moving average price is $277.91. Snap-on Incorporated has a 1 year low of $250.30 and a 1 year high of $330.51. The firm has a market capitalization of $17.15 billion, a P/E ratio of 16.81, a price-to-earnings-growth ratio of 2.14 and a beta of 0.98.

Snap-on Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Monday, August 19th were given a dividend of $1.86 per share. This represents a $7.44 annualized dividend and a yield of 2.28%. The ex-dividend date of this dividend was Monday, August 19th. Snap-on’s dividend payout ratio (DPR) is currently 38.29%.

Snap-on announced that its Board of Directors has initiated a share repurchase program on Thursday, August 8th that permits the company to buyback $500.00 million in outstanding shares. This buyback authorization permits the company to purchase up to 3.5% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s leadership believes its stock is undervalued.

Insiders Place Their Bets

In other news, VP Richard Thomas Miller sold 1,750 shares of the stock in a transaction dated Friday, October 18th. The shares were sold at an average price of $330.00, for a total value of $577,500.00. Following the transaction, the vice president now directly owns 3,218 shares of the company’s stock, valued at $1,061,940. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, CEO Nicholas T. Pinchuk sold 24,145 shares of the company’s stock in a transaction dated 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 transaction, the chief executive officer now directly owns 759,019 shares in the company, valued at approximately $204,138,160.05. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Richard Thomas Miller sold 1,750 shares of the stock in a transaction dated Friday, October 18th. The stock was sold at an average price of $330.00, for a total transaction of $577,500.00. Following the sale, the vice president now owns 3,218 shares in the company, valued at $1,061,940. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 37,598 shares of company stock valued at $10,461,986. 4.10% of the stock is currently owned by corporate insiders.

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.