Snap-On Incorporated $SNA Stock Holdings Lowered by VIRGINIA RETIREMENT SYSTEMS ET Al

VIRGINIA RETIREMENT SYSTEMS ET Al reduced its position in Snap-On Incorporated (NYSE:SNA) by 4.8% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 194,732 shares of the company’s stock after selling 9,840 shares during the quarter. VIRGINIA RETIREMENT SYSTEMS ET Al’s holdings in Snap-On were worth $70,756,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Choreo LLC lifted its stake in Snap-On by 4.6% during the third quarter. Choreo LLC now owns 8,395 shares of the company’s stock worth $3,051,000 after purchasing an additional 369 shares during the last quarter. Interchange Capital Partners LLC boosted its holdings in shares of Snap-On by 6.6% in the 3rd quarter. Interchange Capital Partners LLC now owns 952 shares of the company’s stock valued at $346,000 after purchasing an additional 59 shares in the last quarter. Childress Capital Advisors LLC increased its stake in shares of Snap-On by 3.1% in the 3rd quarter. Childress Capital Advisors LLC now owns 1,217 shares of the company’s stock valued at $442,000 after purchasing an additional 37 shares during the last quarter. Shakespeare Wealth Management LLC bought a new position in shares of Snap-On in the 3rd quarter valued at $282,000. Finally, North Dakota State Investment Board increased its stake in shares of Snap-On by 1.8% in 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 during the last quarter. 84.88% of the stock is currently owned by institutional investors and hedge funds.

Snap-On Stock Down 0.8%

Shares of SNA opened at $355.87 on Friday. The company has a market capitalization of $18.36 billion, a PE ratio of 18.51, a PEG 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 stock’s 50-day moving average price is $371.66 and its two-hundred day moving average price is $380.16. The company has a current ratio of 3.55, a quick ratio of 2.71 and a debt-to-equity ratio of 0.14.

Snap-On (NYSE:SNA) last posted its quarterly earnings data on Thursday, October 22nd. The company reported $4.64 EPS for the quarter, missing analysts’ consensus estimates of $4.93 by ($0.29). The firm had revenue of $1.18 billion during 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% compared to the same quarter last year. During the same period in the prior year, the company posted $4.71 earnings per share. On average, analysts anticipate that Snap-On Incorporated will post 19.24 EPS for the current year.

Snap-On Dividend Announcement

The company 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. This represents a $9.76 dividend on an annualized basis and a yield of 2.7%. The ex-dividend date of this dividend was Wednesday, August 19th. Snap-On’s payout ratio is presently 50.75%.

Analyst Ratings Changes

SNA has been the subject of several recent analyst reports. Roth Capital restated a “buy” rating and set a $461.00 price objective (up from $409.00) on shares of Snap-On in a research report on Friday, July 24th. Robert W. Baird set a $385.00 target price on Snap-On in a research report on Friday, October 23rd. Weiss Ratings reissued a “buy (b)” rating on shares of Snap-On in a research note on Thursday, October 15th. Tigress Financial increased their target price on shares of Snap-On from $445.00 to $485.00 and gave the stock a “buy” rating in a report on Friday, July 31st. Finally, Barclays dropped their target price on shares of Snap-On from $435.00 to $405.00 and set an “overweight” rating for the company in a report on Monday. Four investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, Snap-On currently has an average rating of “Moderate Buy” and a consensus target price of $434.00.

Insider Activity at Snap-On

In other news, CFO Aldo Pagliari sold 5,531 shares of the business’s stock in a transaction dated Thursday, August 13th. The shares were sold at an average price of $404.25, for a total transaction of $2,235,906.75. Following the completion of the sale, the chief financial officer directly owned 120,644 shares of the company’s stock, valued at $48,770,337. The trade was a 4.38% decrease in their ownership of the stock. The transaction 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, VP Marty V. Ozolins sold 800 shares of the business’s stock in a transaction that occurred on Wednesday, August 26th. The stock was sold at an average price of $400.00, for a total value of $320,000.00. Following the sale, the vice president directly owned 1,526 shares of the company’s stock, valued at $610,400. This represents a 34.39% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 29,220 shares of company stock valued at $11,704,411 in the last three months. Corporate insiders own 3.80% of the company’s stock.

Snap-On Company Profile

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.