Vestcor Inc Sells 1,581 Shares of Snap-On Incorporated $SNA

Vestcor Inc reduced its holdings in shares of Snap-On Incorporated (NYSE:SNA) by 36.6% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 2,739 shares of the company’s stock after selling 1,581 shares during the quarter. Vestcor Inc’s holdings in Snap-On were worth $949,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in SNA. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of Snap-On by 15.5% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 8,850 shares of the company’s stock valued at $2,983,000 after purchasing an additional 1,185 shares during the last quarter. Woodline Partners LP lifted its stake in shares of Snap-On by 40.4% during the 1st quarter. Woodline Partners LP now owns 4,426 shares of the company’s stock worth $1,492,000 after buying an additional 1,273 shares during the last quarter. Savant Capital LLC boosted its holdings in shares of Snap-On by 23.6% during the 2nd quarter. Savant Capital LLC now owns 2,372 shares of the company’s stock worth $738,000 after buying an additional 453 shares during the period. Penserra Capital Management LLC grew its stake in Snap-On by 13.5% in the 2nd quarter. Penserra Capital Management LLC now owns 278 shares of the company’s stock valued at $86,000 after buying an additional 33 shares during the last quarter. Finally, ProShare Advisors LLC grew its stake in Snap-On by 6.4% in the 2nd quarter. ProShare Advisors LLC now owns 12,015 shares of the company’s stock valued at $3,739,000 after buying an additional 718 shares during the last quarter. 84.88% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, VP June C. Lemerand sold 1,378 shares of the stock in a transaction on Wednesday, February 25th. The stock was sold at an average price of $387.57, for a total transaction of $534,071.46. Following the sale, the vice president directly owned 2,913 shares of the company’s stock, valued at approximately $1,128,991.41. This represents a 32.11% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Aldo John Pagliari sold 7,043 shares of the firm’s stock in a transaction on Thursday, February 19th. The stock was sold at an average price of $382.05, for a total value of $2,690,778.15. Following the completion of the transaction, the chief financial officer owned 117,183 shares in the company, valued at $44,769,765.15. The trade was a 5.67% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 39,650 shares of company stock worth $15,210,959 in the last quarter. Insiders own 3.90% of the company’s stock.

Snap-On Stock Performance

Snap-On stock traded up $0.77 during midday trading on Friday, hitting $364.98. The company’s stock had a trading volume of 62,050 shares, compared to its average volume of 348,584. The company has a debt-to-equity ratio of 0.20, a current ratio of 4.79 and a quick ratio of 3.68. The company has a market cap of $18.95 billion, a price-to-earnings ratio of 19.02, a PEG ratio of 2.55 and a beta of 0.78. Snap-On Incorporated has a 1-year low of $289.81 and a 1-year high of $390.13. The company has a 50-day moving average price of $372.52 and a two-hundred day moving average price of $350.90.

Snap-On (NYSE:SNA) last announced its earnings results on Thursday, February 5th. The company reported $4.94 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.86 by $0.08. Snap-On had a net margin of 21.44% and a return on equity of 17.34%. The firm had revenue of $1.23 billion for the quarter, compared to analyst estimates of $1.24 billion. During the same quarter in the prior year, the business posted $4.82 EPS. The business’s revenue was up 2.8% compared to the same quarter last year. As a group, sell-side analysts predict that Snap-On Incorporated will post 19.79 earnings per share for the current year.

Snap-On Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 10th. Investors of record on Tuesday, February 24th were given a dividend of $2.44 per share. The ex-dividend date of this dividend was Tuesday, February 24th. This represents a $9.76 dividend on an annualized basis and a yield of 2.7%. Snap-On’s dividend payout ratio is currently 50.86%.

Analysts Set New Price Targets

Several brokerages have issued reports on SNA. Wall Street Zen downgraded shares of Snap-On from a “buy” rating to a “hold” rating in a research report on Saturday, February 7th. Tigress Financial upped their target price on Snap-On from $405.00 to $445.00 and gave the company a “buy” rating in a research report on Friday, February 27th. Robert W. Baird set a $375.00 target price on Snap-On in a research note on Friday, February 6th. Roth Mkm reissued a “buy” rating and set a $409.00 price target (up from $385.00) on shares of Snap-On in a report on Tuesday, February 10th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Snap-On in a research note on Wednesday, January 21st. Five equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Snap-On presently has an average rating of “Moderate Buy” and an average price target of $377.33.

Snap-On Company Profile

Snap‑On Incorporated (NYSE: SNA) is a designer, manufacturer and marketer of tools, diagnostic equipment, repair information and shop equipment for professional users. The company’s product range includes hand and power tools, tool storage and cabinets, diagnostic scan tools and software, shop equipment such as lifts and tire changers, and specialized specialty tools for automotive, aviation, marine and industrial applications. Snap‑On also offers information and workflow solutions that combine diagnostic data, repair procedures and parts information to support professional technicians.

Founded in 1920 and headquartered in Kenosha, Wisconsin, Snap‑On has established a long history in the professional tools market.