Vestmark Advisory Solutions Inc. Trims Stock Position in Snap-On Incorporated $SNA

Vestmark Advisory Solutions Inc. cut its stake in shares of Snap-On Incorporated (NYSE:SNA) by 33.4% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,306 shares of the company’s stock after selling 654 shares during the quarter. Vestmark Advisory Solutions Inc.’s holdings in Snap-On were worth $406,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Kingstone Capital Partners Texas LLC purchased a new position in Snap-On in the second quarter worth $434,938,000. Auto Owners Insurance Co lifted its holdings in shares of Snap-On by 35,967.2% in the first quarter. Auto Owners Insurance Co now owns 1,073,000 shares of the company’s stock valued at $361,612,000 after purchasing an additional 1,070,025 shares in the last quarter. Ameriprise Financial Inc. lifted its stake in Snap-On by 54.3% in the 1st quarter. Ameriprise Financial Inc. now owns 681,857 shares of the company’s stock valued at $229,793,000 after buying an additional 239,908 shares in the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in shares of Snap-On during the 2nd quarter worth $56,595,000. Finally, Nuveen LLC purchased a new stake in Snap-On during the first quarter valued at about $45,711,000. Hedge funds and other institutional investors own 84.88% of the company’s stock.

Snap-On Stock Down 0.1%

SNA stock opened at $341.45 on Thursday. The company has a debt-to-equity ratio of 0.20, a current ratio of 4.40 and a quick ratio of 3.37. The firm has a market cap of $17.76 billion, a PE ratio of 17.91, a P/E/G ratio of 2.33 and a beta of 0.81. Snap-On Incorporated has a 12 month low of $289.81 and a 12 month high of $373.89. The firm has a 50 day simple moving average of $338.46 and a 200 day simple moving average of $326.87.

Snap-On (NYSE:SNA) last issued its 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 business had revenue of $1.19 billion for the quarter, compared to analysts’ expectations of $1.16 billion. During the same period in the previous year, the firm posted $4.70 EPS. The company’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 earnings per share for the current fiscal year.

Snap-On Increases Dividend

The company also recently announced 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%. The ex-dividend date of this dividend is Friday, November 21st. This is an increase from Snap-On’s previous quarterly dividend of $2.14. Snap-On’s payout ratio is currently 51.18%.

Insider Activity at Snap-On

In other Snap-On news, CFO Aldo John Pagliari sold 125 shares of the business’s stock in a transaction dated Friday, August 15th. The stock was sold at an average price of $325.21, for a total value of $40,651.25. Following the completion of the sale, the chief financial officer 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 3.90% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports 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 report on Friday, October 17th. Barrington Research restated an “outperform” rating and set a $350.00 target price on shares of Snap-On in a research note on Wednesday, October 15th. Wall Street Zen upgraded shares of Snap-On from a “hold” rating to a “buy” rating in a research note on Saturday, October 18th. Weiss Ratings reissued a “buy (b)” rating on shares of Snap-On in a report on Wednesday, October 8th. Finally, Tigress Financial increased their price target on shares of Snap-On from $395.00 to $405.00 and gave the stock a “buy” rating in a research report on Tuesday, October 21st. Five 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. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $365.00.

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.