Railway Pension Investments Ltd Decreases Position in Snap-On Incorporated $SNA

Railway Pension Investments Ltd reduced its stake in shares of Snap-On Incorporated (NYSE:SNA) by 14.1% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 65,100 shares of the company’s stock after selling 10,700 shares during the period. Railway Pension Investments Ltd’s holdings in Snap-On were worth $20,258,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. LPL Financial LLC boosted its stake in shares of Snap-On by 2.4% in the first quarter. LPL Financial LLC now owns 75,537 shares of the company’s stock valued at $25,457,000 after purchasing an additional 1,773 shares during the period. Mackenzie Financial Corp increased its holdings in shares of Snap-On by 66.9% in the 1st quarter. Mackenzie Financial Corp now owns 10,211 shares of the company’s stock valued at $3,441,000 after acquiring an additional 4,092 shares during the last quarter. Federated Hermes Inc. lifted its stake in Snap-On by 63.7% during the first quarter. Federated Hermes Inc. now owns 28,628 shares of the company’s stock worth $9,648,000 after purchasing an additional 11,136 shares during the last quarter. Vestcor Inc lifted its stake in Snap-On by 169.6% during the first quarter. Vestcor Inc now owns 4,052 shares of the company’s stock worth $1,366,000 after purchasing an additional 2,549 shares during the last quarter. Finally, Bayforest Capital Ltd acquired a new position in Snap-On in the first quarter worth $136,000. Hedge funds and other institutional investors own 84.88% of the company’s stock.

Snap-On Stock Down 0.1%

Shares of SNA stock opened at $340.19 on Friday. Snap-On Incorporated has a 1 year low of $289.81 and a 1 year high of $371.98. The company has a debt-to-equity ratio of 0.20, a quick ratio of 3.37 and a current ratio of 4.40. The business’s fifty day moving average is $339.23 and its 200-day moving average is $328.46. The stock has a market cap of $17.69 billion, a PE ratio of 17.84, a price-to-earnings-growth ratio of 2.33 and a beta of 0.81.

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

Snap-On Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 10th. Shareholders of record on Friday, November 21st will be given a $2.44 dividend. This represents a $9.76 annualized dividend and a yield of 2.9%. This is a positive change from Snap-On’s previous quarterly dividend of $2.14. The ex-dividend date is Friday, November 21st. Snap-On’s dividend payout ratio (DPR) is presently 51.18%.

Analyst Upgrades and Downgrades

SNA has been the topic of a number of recent research reports. Barrington Research restated an “outperform” rating and issued a $350.00 price target on shares of Snap-On in a research report on Wednesday, October 15th. Wall Street Zen raised Snap-On from a “hold” rating to a “buy” rating in a report on Saturday, October 18th. Tigress Financial raised their price target on Snap-On from $395.00 to $405.00 and gave the stock a “buy” rating in a report on Tuesday, October 21st. Roth Capital restated a “buy” rating and set a $385.00 price objective on shares of Snap-On in a research note on Friday, October 17th. Finally, Robert W. Baird increased 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. Five equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $365.00.

Insider Activity

In related news, SVP Jesus Arregui sold 3,831 shares of Snap-On stock in a transaction on Tuesday, November 25th. The stock was sold at an average price of $337.28, for a total value of $1,292,119.68. Following the transaction, the senior vice president directly owned 2,642 shares in the company, valued at $891,093.76. The trade was a 59.18% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 3.90% of the company’s stock.

Snap-On 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.