Vestcor Inc Has $949,000 Holdings in Snap-On Incorporated $SNA

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

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its position in shares of Snap-On by 1.3% during the second quarter. Vanguard Group Inc. now owns 6,495,475 shares of the company’s stock worth $2,021,262,000 after purchasing an additional 80,422 shares during the period. State Street Corp grew its position in shares of Snap-On by 0.6% in the 2nd quarter. State Street Corp now owns 2,207,840 shares of the company’s stock valued at $687,036,000 after purchasing an additional 12,184 shares during the period. Charles Schwab Investment Management Inc. increased its stake in Snap-On by 1.9% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 1,958,005 shares of the company’s stock worth $609,292,000 after purchasing an additional 36,421 shares in the last quarter. First Trust Advisors LP increased its stake in Snap-On by 1.3% during the 3rd quarter. First Trust Advisors LP now owns 1,916,571 shares of the company’s stock worth $664,149,000 after purchasing an additional 23,863 shares in the last quarter. Finally, Nordea Investment Management AB raised its holdings in Snap-On by 3.0% during the 3rd quarter. Nordea Investment Management AB now owns 1,258,712 shares of the company’s stock worth $433,601,000 after buying an additional 36,964 shares during the period. 84.88% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, CFO Aldo John Pagliari sold 7,043 shares of Snap-On stock in a transaction dated Thursday, February 19th. The shares were 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 of the company’s stock, valued at $44,769,765.15. This trade represents a 5.67% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Nicholas T. Pinchuk sold 23,229 shares of the business’s stock in a transaction dated Monday, February 23rd. The stock was sold at an average price of $383.36, for a total transaction of $8,905,069.44. Following the transaction, the chief executive officer owned 846,562 shares in the company, valued at $324,538,008.32. This represents a 2.67% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 39,650 shares of company stock valued at $15,210,959 in the last ninety days. Corporate insiders own 3.90% of the company’s stock.

Snap-On Stock Up 0.2%

Snap-On stock traded up $0.77 during mid-day trading on Friday, reaching $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 quick ratio of 3.68 and a current ratio of 4.79. Snap-On Incorporated has a 12 month low of $289.81 and a 12 month high of $390.13. The business’s 50 day simple moving average is $372.52 and its 200 day simple moving average is $350.90. The company has a market capitalization of $18.95 billion, a price-to-earnings ratio of 19.02, a price-to-earnings-growth ratio of 2.55 and a beta of 0.78.

Snap-On (NYSE:SNA) last issued its quarterly earnings results on Thursday, February 5th. The company reported $4.94 EPS for the quarter, topping the consensus estimate 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 analysts’ expectations of $1.24 billion. During the same period in the previous year, the firm posted $4.82 EPS. The company’s revenue for the quarter was up 2.8% on a year-over-year basis. As a group, research analysts anticipate that Snap-On Incorporated will post 19.79 earnings per share for the current year.

Snap-On Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 10th. Investors of record on Tuesday, February 24th were paid a $2.44 dividend. The ex-dividend date of this dividend was Tuesday, February 24th. This represents a $9.76 annualized dividend and a dividend yield of 2.7%. Snap-On’s dividend payout ratio (DPR) is currently 50.86%.

Wall Street Analysts Forecast Growth

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

Snap-On 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.