VIRGINIA RETIREMENT SYSTEMS ET Al Makes New Investment in Snap-On Incorporated $SNA

VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in shares of Snap-On Incorporated (NYSE:SNA) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 181,872 shares of the company’s stock, valued at approximately $56,595,000. VIRGINIA RETIREMENT SYSTEMS ET Al owned 0.35% of Snap-On at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of SNA. Kingstone Capital Partners Texas LLC bought a new stake in Snap-On during the second quarter valued at about $434,938,000. Auto Owners Insurance Co grew its stake in shares of Snap-On by 35,967.2% during the 1st quarter. Auto Owners Insurance Co now owns 1,073,000 shares of the company’s stock valued at $361,612,000 after acquiring an additional 1,070,025 shares during the period. Ameriprise Financial Inc. increased its holdings in Snap-On by 54.3% in the 1st quarter. Ameriprise Financial Inc. now owns 681,857 shares of the company’s stock worth $229,793,000 after acquiring an additional 239,908 shares in the last quarter. Nuveen LLC bought a new stake in Snap-On during the 1st quarter worth approximately $45,711,000. Finally, Charles Schwab Investment Management Inc. lifted its holdings in Snap-On by 6.4% during the first quarter. Charles Schwab Investment Management Inc. now owns 1,921,584 shares of the company’s stock valued at $647,593,000 after purchasing an additional 115,306 shares in the last quarter. 84.88% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

SNA has been the subject of a number of analyst reports. Barrington Research reissued an “outperform” rating and issued a $350.00 price objective on shares of Snap-On in a research note on Wednesday. Tigress Financial increased their price target on Snap-On from $390.00 to $395.00 and gave the stock a “buy” rating in a research note on Friday, August 29th. Roth Capital reaffirmed a “buy” rating and issued a $385.00 price objective on shares of Snap-On in a research note on Friday. Bank of America upped their price target on Snap-On from $265.00 to $285.00 and gave the stock an “underperform” rating in a research note on Friday, July 18th. Finally, Robert W. Baird lifted their price objective on shares of Snap-On from $355.00 to $365.00 and gave the company a “neutral” rating in a research report on Friday. Six analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $363.57.

Insiders Place Their Bets

In other Snap-On news, CFO Aldo John Pagliari sold 125 shares of Snap-On stock in a transaction on Friday, August 15th. The shares were sold at an average price of $325.21, for a total transaction of $40,651.25. Following the completion of the transaction, the chief financial officer directly owned 111,721 shares of the company’s stock, valued at $36,332,786.41. The trade was a 0.11% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Nicholas T. Pinchuk sold 23,042 shares of the business’s stock in a transaction on Monday, August 11th. The shares were sold at an average price of $320.88, for a total transaction of $7,393,716.96. Following the transaction, the chief executive officer owned 815,219 shares in the company, valued at $261,587,472.72. This trade represents a 2.75% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 27,898 shares of company stock valued at $8,983,203. 3.90% of the stock is owned by corporate insiders.

Snap-On Price Performance

SNA stock opened at $339.61 on Friday. Snap-On Incorporated has a 52 week low of $289.81 and a 52 week high of $373.89. The firm has a market capitalization of $17.71 billion, a P/E ratio of 17.81, a price-to-earnings-growth ratio of 2.36 and a beta of 0.78. The company has a fifty day simple moving average of $332.77 and a two-hundred day simple moving average of $323.71. The company has a quick ratio of 3.42, a current ratio of 4.40 and a debt-to-equity ratio of 0.20.

Snap-On (NYSE:SNA) last announced its earnings results on Thursday, October 16th. The company reported $4.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.59 by $0.12. The firm had revenue of $1.19 billion for the quarter, compared to analysts’ expectations of $1.16 billion. Snap-On had a net margin of 21.08% and a return on equity of 17.71%. The business’s revenue was up 3.8% compared to the same quarter last year. During the same period in the prior year, the company earned $4.70 EPS. Analysts anticipate that Snap-On Incorporated will post 19.79 earnings per share for the current fiscal year.

Snap-On Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 10th. Investors of record on Tuesday, August 19th were issued a dividend of $2.14 per share. This represents a $8.56 annualized dividend and a yield of 2.5%. The ex-dividend date was Tuesday, August 19th. Snap-On’s dividend payout ratio is presently 44.89%.

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.