VIRGINIA RETIREMENT SYSTEMS ET Al Takes Position in Snap-On Incorporated $SNA

VIRGINIA RETIREMENT SYSTEMS ET Al bought a new stake in shares of Snap-On Incorporated (NYSE:SNA) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 204,572 shares of the company’s stock, valued at approximately $82,320,000.

Several other institutional investors have also bought and sold shares of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in Snap-On by 15.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 8,850 shares of the company’s stock worth $2,983,000 after acquiring an additional 1,185 shares during the last quarter. Woodline Partners LP raised its holdings in shares of Snap-On by 40.4% in the first quarter. Woodline Partners LP now owns 4,426 shares of the company’s stock valued at $1,492,000 after purchasing an additional 1,273 shares during the last quarter. EverSource Wealth Advisors LLC raised its holdings in shares of Snap-On by 100.9% in the second quarter. EverSource Wealth Advisors LLC now owns 464 shares of the company’s stock valued at $144,000 after purchasing an additional 233 shares during the last quarter. Gamco Investors INC. ET AL lifted its position in shares of Snap-On by 32.9% during the second quarter. Gamco Investors INC. ET AL now owns 1,752 shares of the company’s stock valued at $545,000 after purchasing an additional 434 shares in the last quarter. Finally, Natixis lifted its position in shares of Snap-On by 136.8% during the second quarter. Natixis now owns 3,048 shares of the company’s stock valued at $948,000 after purchasing an additional 1,761 shares in the last quarter. Institutional investors own 84.88% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have issued reports on SNA shares. Barclays initiated coverage on shares of Snap-On in a research report on Thursday, May 28th. They issued an “overweight” rating and a $420.00 price objective for the company. Tigress Financial boosted their target price on Snap-On from $445.00 to $485.00 and gave the stock a “buy” rating in a research note on Friday, July 31st. Robert W. Baird set a $415.00 target price on Snap-On in a report on Friday, July 24th. Roth Capital reaffirmed a “buy” rating and issued a $461.00 target price (up from $409.00) on shares of Snap-On in a report on Friday, July 24th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Snap-On in a report on Friday, July 17th. Five analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, Snap-On has a consensus rating of “Moderate Buy” and a consensus price target of $426.20.

Insider Buying and Selling

In other Snap-On news, CEO Nicholas T. Pinchuk sold 22,889 shares of the business’s stock in a transaction 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 sale, the chief executive officer directly owned 867,779 shares in the company, valued at $346,842,588.51. The trade was a 2.57% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Richard Miller sold 2,000 shares of the company’s stock in a transaction on Wednesday, July 1st. The shares were sold at an average price of $405.92, for a total value of $811,840.00. Following the transaction, the vice president directly owned 4,529 shares in the company, valued at $1,838,411.68. This represents a 30.63% decrease in their position. 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 have sold a total of 45,398 shares of company stock worth $18,298,580 in the last three months. Insiders own 3.80% of the company’s stock.

Snap-On Price Performance

SNA opened at $382.90 on Monday. Snap-On Incorporated has a fifty-two week low of $320.80 and a fifty-two week high of $423.02. The firm has a 50-day moving average of $403.10 and a 200 day moving average of $385.46. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.64 and a current ratio of 3.43. The firm has a market cap of $19.81 billion, a P/E ratio of 19.53, a PEG ratio of 2.69 and a beta of 0.72.

Snap-On (NYSE:SNA) last announced its quarterly earnings data on Thursday, July 23rd. The company reported $4.96 EPS for the quarter, topping the consensus estimate of $4.95 by $0.01. The business had revenue of $1.24 billion for the quarter, compared to analyst estimates of $1.22 billion. Snap-On had a net margin of 21.25% and a return on equity of 17.07%. The company’s revenue for the quarter was up 4.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $4.72 earnings per share. On average, research analysts expect that Snap-On Incorporated will post 19.7 EPS for the current year.

Snap-On Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 10th. Investors of record on Wednesday, August 19th will be issued a $2.44 dividend. This represents a $9.76 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date of this dividend is Wednesday, August 19th. Snap-On’s payout ratio is 49.77%.

About Snap-On

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.