Snap-On Incorporated $SNA Shares Sold by Railway Pension Investments Ltd

Railway Pension Investments Ltd lowered its holdings in Snap-On Incorporated (NYSE:SNA) by 14.1% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 65,100 shares of the company’s stock after selling 10,700 shares during the quarter. Railway Pension Investments Ltd owned 0.12% of Snap-On worth $20,258,000 as of its most recent filing with the SEC.

A number of other large investors have also made changes to their positions in SNA. Tobam acquired a new position in Snap-On during the second quarter worth about $29,000. Ameritas Advisory Services LLC purchased a new stake in shares of Snap-On during the 2nd quarter worth approximately $30,000. Vermillion & White Wealth Management Group LLC grew its holdings in shares of Snap-On by 97.9% in the 2nd quarter. Vermillion & White Wealth Management Group LLC now owns 95 shares of the company’s stock worth $30,000 after acquiring an additional 47 shares during the period. Ransom Advisory Ltd acquired a new stake in shares of Snap-On in the 1st quarter worth approximately $34,000. Finally, Thurston Springer Miller Herd & Titak Inc. increased its stake in Snap-On by 52.8% in the 2nd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 110 shares of the company’s stock valued at $34,000 after purchasing an additional 38 shares in the last quarter. Hedge funds and other institutional investors own 84.88% of the company’s stock.

Snap-On Price Performance

Shares of NYSE:SNA opened at $340.19 on Friday. The company has a market cap of $17.69 billion, a P/E ratio of 17.84, a P/E/G ratio of 2.33 and a beta of 0.81. The business has a fifty day simple moving average of $339.23 and a 200-day simple moving average of $328.46. Snap-On Incorporated has a 52 week low of $289.81 and a 52 week high of $371.98. The company has a quick ratio of 3.37, a current ratio of 4.40 and a debt-to-equity ratio of 0.20.

Snap-On (NYSE:SNA) last issued its quarterly earnings results on Thursday, October 16th. The company reported $4.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.59 by $0.12. Snap-On had a return on equity of 17.71% and a net margin of 21.08%.The firm had revenue of $1.19 billion for the quarter, compared to analyst estimates of $1.16 billion. During the same period last year, the company earned $4.70 EPS. The firm’s quarterly revenue was up 3.8% on a year-over-year basis. Equities research analysts forecast that Snap-On Incorporated will post 19.79 EPS for the current year.

Snap-On Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 10th. Investors of record on Friday, November 21st will be issued a $2.44 dividend. The ex-dividend date is Friday, November 21st. This is a positive change from Snap-On’s previous quarterly dividend of $2.14. This represents a $9.76 dividend on an annualized basis and a yield of 2.9%. Snap-On’s payout ratio is presently 51.18%.

Analyst Ratings Changes

A number of analysts have commented on SNA shares. Robert W. Baird boosted their target price on Snap-On from $355.00 to $365.00 and gave the stock a “neutral” rating in a research report on Friday, October 17th. Barrington Research reissued an “outperform” rating and issued a $350.00 price objective on shares of Snap-On in a research note on Wednesday, October 15th. Weiss Ratings restated a “buy (b)” rating on shares of Snap-On in a research report on Wednesday, October 8th. Tigress Financial raised their price objective on shares of Snap-On from $395.00 to $405.00 and gave the stock a “buy” rating in a research note on Tuesday, October 21st. Finally, Wall Street Zen raised Snap-On from a “hold” rating to a “buy” rating in a research report on Saturday, October 18th. Five equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Snap-On has an average rating of “Moderate Buy” and an average price target of $365.00.

Insider Buying and Selling

In related news, SVP Jesus Arregui sold 3,831 shares of the company’s stock in a transaction that occurred on Tuesday, November 25th. The shares were sold at an average price of $337.28, for a total transaction of $1,292,119.68. Following the completion of the transaction, the senior vice president owned 2,642 shares of the company’s stock, valued at approximately $891,093.76. This represents a 59.18% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 3.90% of the company’s stock.

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.