Snap-On Incorporated $SNA Stock: VIRGINIA RETIREMENT SYSTEMS ET Al Cuts Stake

VIRGINIA RETIREMENT SYSTEMS ET Al lessened its position in Snap-On Incorporated (NYSE:SNA) by 4.8% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 194,732 shares of the company’s stock after selling 9,840 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al owned about 0.38% of Snap-On worth $70,756,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. North Dakota State Investment Board increased its holdings in Snap-On by 1.8% during the 3rd quarter. North Dakota State Investment Board now owns 1,552 shares of the company’s stock valued at $564,000 after purchasing an additional 28 shares in the last quarter. Childress Capital Advisors LLC boosted its stake in Snap-On by 3.1% in the third quarter. Childress Capital Advisors LLC now owns 1,217 shares of the company’s stock worth $442,000 after purchasing an additional 37 shares in the last quarter. CX Institutional boosted its stake in Snap-On by 10.6% in the second quarter. CX Institutional now owns 447 shares of the company’s stock worth $180,000 after purchasing an additional 43 shares in the last quarter. IFM Investors Pty Ltd grew its holdings in shares of Snap-On by 0.4% during the first quarter. IFM Investors Pty Ltd now owns 11,301 shares of the company’s stock worth $4,105,000 after purchasing an additional 45 shares during the last quarter. Finally, Ascentis Independent Advisors grew its holdings in shares of Snap-On by 2.5% during the first quarter. Ascentis Independent Advisors now owns 1,859 shares of the company’s stock worth $675,000 after purchasing an additional 46 shares during the last quarter. Institutional investors own 84.88% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. Robert W. Baird set a $385.00 price target on shares of Snap-On in a report on Friday, October 23rd. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Snap-On in a report on Thursday, October 15th. Roth Capital reiterated a “buy” rating and issued a $461.00 price objective (up from $409.00) on shares of Snap-On in a research report on Friday, July 24th. Tigress Financial lifted their target price on Snap-On from $445.00 to $485.00 and gave the company a “buy” rating in a research note on Friday, July 31st. Finally, Barclays dropped their target price on Snap-On from $435.00 to $405.00 and set an “overweight” rating for the company in a research report on Monday. Four research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, Snap-On has an average rating of “Moderate Buy” and an average target price of $434.00.

Snap-On Price Performance

SNA opened at $355.87 on Friday. The stock has a market cap of $18.36 billion, a P/E ratio of 18.51, a P/E/G ratio of 2.56 and a beta of 0.71. Snap-On Incorporated has a 12 month low of $320.80 and a 12 month high of $423.02. The company has a quick ratio of 2.71, a current ratio of 3.55 and a debt-to-equity ratio of 0.14. The company has a fifty day simple moving average of $371.66 and a 200 day simple moving average of $380.16.

Snap-On (NYSE:SNA) last released its quarterly earnings data on Thursday, October 22nd. The company reported $4.64 earnings per share for the quarter, missing the consensus estimate of $4.93 by ($0.29). The business had revenue of $1.18 billion for the quarter, compared to the consensus estimate of $1.24 billion. Snap-On had a net margin of 20.82% and a return on equity of 16.77%. The company’s revenue for the quarter was down .6% on a year-over-year basis. During the same quarter last year, the firm earned $4.71 EPS. On average, research analysts expect that Snap-On Incorporated will post 19.24 EPS for the current year.

Snap-On Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 10th. Investors of record on Wednesday, August 19th were given a $2.44 dividend. The ex-dividend date of this dividend was Wednesday, August 19th. This represents a $9.76 dividend on an annualized basis and a yield of 2.7%. Snap-On’s dividend payout ratio (DPR) is 50.75%.

Insider Activity at Snap-On

In other news, VP Marty V. Ozolins sold 800 shares of Snap-On stock in a transaction dated Wednesday, August 26th. The shares were sold at an average price of $400.00, for a total value of $320,000.00. Following the completion of the transaction, the vice president owned 1,526 shares of the company’s stock, valued at $610,400. This trade represents a 34.39% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Nicholas T. Pinchuk sold 22,889 shares of the business’s stock in a transaction that occurred on Tuesday, August 18th. The stock was sold at an average price of $399.69, for a total value of $9,148,504.41. Following the transaction, the chief executive officer directly owned 867,779 shares in the company, valued at approximately $346,842,588.51. This trade represents a 2.57% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 29,220 shares of company stock valued at $11,704,411. Corporate insiders own 3.80% of the company’s stock.

About Snap-On

Snap-on Incorporated is a manufacturer and distributor of professional tools, equipment, diagnostics, and related services. Its offerings include hand and power tools, tool storage, vehicle repair equipment, diagnostic systems, and repair information and management software. The company serves professional users who work in automotive repair, heavy-duty transportation, aviation, agriculture, construction, industrial production, government, and other technical fields.

Snap-on markets products under the Snap-on brand and other brands, including Blue-Point, Bahco, and Williams.