Snap-On Incorporated (NYSE:SNA) Shares Sold by TIAA Trust National Association

TIAA Trust National Association lessened its holdings in shares of Snap-On Incorporated (NYSE:SNA) by 55.8% in the first quarter, according to its most recent filing with the SEC. The firm owned 2,097 shares of the company’s stock after selling 2,648 shares during the quarter. TIAA Trust National Association’s holdings in Snap-On were worth $707,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Choreo LLC boosted its position in Snap-On by 78.3% during the 1st quarter. Choreo LLC now owns 7,218 shares of the company’s stock worth $2,432,000 after acquiring an additional 3,170 shares during the period. Ethic Inc. raised its stake in shares of Snap-On by 18.6% in the 4th quarter. Ethic Inc. now owns 9,212 shares of the company’s stock worth $3,127,000 after buying an additional 1,445 shares in the last quarter. DAVENPORT & Co LLC bought a new stake in shares of Snap-On in the 1st quarter worth $218,000. OneDigital Investment Advisors LLC raised its stake in shares of Snap-On by 26.4% in the 1st quarter. OneDigital Investment Advisors LLC now owns 867 shares of the company’s stock worth $292,000 after buying an additional 181 shares in the last quarter. Finally, Vontobel Holding Ltd. raised its stake in shares of Snap-On by 27.4% in the 1st quarter. Vontobel Holding Ltd. now owns 13,636 shares of the company’s stock worth $4,595,000 after buying an additional 2,932 shares in the last quarter. Institutional investors and hedge funds own 84.88% of the company’s stock.

Insider Buying and Selling

In related news, CFO Aldo John Pagliari sold 5,553 shares of the stock in a transaction dated Thursday, May 15th. The stock was sold at an average price of $326.84, for a total value of $1,814,942.52. Following the completion of the sale, the chief financial officer directly owned 109,560 shares of the company’s stock, valued at approximately $35,808,590.40. This represents a 4.82% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Nicholas T. Pinchuk sold 23,172 shares of the stock in a transaction dated Monday, June 2nd. The stock was sold at an average price of $315.85, for a total value of $7,318,876.20. Following the completion of the sale, the chief executive officer directly owned 804,510 shares of the company’s stock, valued at approximately $254,104,483.50. This represents a 2.80% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 29,815 shares of company stock valued at $9,482,532. Corporate insiders own 3.90% of the company’s stock.

Snap-On Stock Up 0.3%

Shares of Snap-On stock opened at $318.72 on Tuesday. The stock has a 50-day moving average price of $318.94 and a 200 day moving average price of $326.66. The company has a market cap of $16.62 billion, a P/E ratio of 17.00, a P/E/G ratio of 2.21 and a beta of 0.76. The company has a current ratio of 4.48, a quick ratio of 3.42 and a debt-to-equity ratio of 0.21. Snap-On Incorporated has a 1 year low of $266.56 and a 1 year high of $373.89.

Snap-On (NYSE:SNA) last announced its quarterly earnings data on Thursday, July 17th. The company reported $4.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.61 by $0.11. The firm had revenue of $1.18 billion during the quarter, compared to the consensus estimate of $1.16 billion. Snap-On had a return on equity of 18.02% and a net margin of 20.98%. The business’s revenue for the quarter was up .0% on a year-over-year basis. During the same period in the prior year, the business earned $5.07 EPS. As a group, analysts expect that Snap-On Incorporated will post 19.79 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have recently commented on SNA shares. Barrington Research reissued an “outperform” rating and issued a $350.00 price objective on shares of Snap-On in a research note on Tuesday, July 15th. Wall Street Zen raised Snap-On from a “hold” rating to a “buy” rating in a research note on Friday, May 16th. Robert W. Baird boosted their price objective on Snap-On from $329.00 to $347.00 and gave the stock a “neutral” rating in a research note on Friday, July 18th. Finally, Bank of America boosted their price objective on Snap-On from $265.00 to $285.00 and gave the stock an “underperform” rating in a research note on Friday, July 18th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $356.17.

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.