Rockland Trust Co. Boosts Stock Position in Snap-on Incorporated (NYSE:SNA)

Rockland Trust Co. raised its stake in Snap-on Incorporated (NYSE:SNA) by 3.1% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,286 shares of the company’s stock after purchasing an additional 100 shares during the period. Rockland Trust Co.’s holdings in Snap-on were worth $1,107,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also modified their holdings of SNA. Kestra Private Wealth Services LLC grew its stake in shares of Snap-on by 11.2% during the fourth quarter. Kestra Private Wealth Services LLC now owns 3,349 shares of the company’s stock worth $1,137,000 after acquiring an additional 336 shares during the last quarter. Savant Capital LLC boosted its position in Snap-on by 13.4% in the fourth quarter. Savant Capital LLC now owns 1,748 shares of the company’s stock valued at $593,000 after buying an additional 206 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its position in Snap-on by 89.4% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 17,951 shares of the company’s stock valued at $6,016,000 after buying an additional 8,471 shares during the last quarter. Asset Management One Co. Ltd. boosted its position in Snap-on by 7.0% in the fourth quarter. Asset Management One Co. Ltd. now owns 21,296 shares of the company’s stock valued at $7,316,000 after buying an additional 1,400 shares during the last quarter. Finally, Vontobel Holding Ltd. boosted its position in Snap-on by 443.9% in the fourth quarter. Vontobel Holding Ltd. now owns 10,704 shares of the company’s stock valued at $3,634,000 after buying an additional 8,736 shares during the last quarter. Hedge funds and other institutional investors own 84.88% of the company’s stock.

Insider Activity at Snap-on

In related news, Director Karen L. Daniel sold 1,090 shares of the stock in a transaction on Thursday, June 5th. The stock was sold at an average price of $319.92, for a total value of $348,712.80. Following the completion of the transaction, the director now directly owns 8,030 shares of the company’s stock, valued at approximately $2,568,957.60. This represents a 11.95% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Nicholas T. Pinchuk sold 23,172 shares of the stock in a transaction on Monday, June 2nd. The shares were sold at an average price of $315.85, for a total value of $7,318,876.20. Following the completion of the transaction, the chief executive officer now directly owns 804,510 shares of the company’s stock, valued at approximately $254,104,483.50. This represents a 2.80% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 52,515 shares of company stock valued at $17,094,296. 3.90% of the stock is owned by insiders.

Snap-on Trading Down 2.9%

Shares of SNA stock opened at $309.86 on Friday. The company has a debt-to-equity ratio of 0.22, a current ratio of 4.15 and a quick ratio of 3.17. The company has a market cap of $16.20 billion, a price-to-earnings ratio of 15.89, a PEG ratio of 2.21 and a beta of 0.78. The stock has a 50 day simple moving average of $319.15 and a 200-day simple moving average of $334.30. Snap-on Incorporated has a 1-year low of $252.98 and a 1-year high of $373.90.

Snap-on (NYSE:SNA) last announced its earnings results on Thursday, April 17th. The company reported $4.51 earnings per share for the quarter, missing the consensus estimate of $4.81 by ($0.30). The business had revenue of $1.14 billion for the quarter, compared to analyst estimates of $1.20 billion. Snap-on had a return on equity of 19.20% and a net margin of 21.71%. During the same period in the previous year, the company earned $4.91 earnings per share. On average, equities research analysts expect that Snap-on Incorporated will post 19.79 EPS for the current fiscal year.

Snap-on Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Tuesday, May 20th were paid a $2.14 dividend. This represents a $8.56 annualized dividend and a yield of 2.76%. The ex-dividend date was Tuesday, May 20th. Snap-on’s dividend payout ratio is currently 44.82%.

Analysts Set New Price Targets

A number of equities research analysts recently commented on SNA shares. Tigress Financial upped their target price on Snap-on from $385.00 to $390.00 and gave the company a “buy” rating in a research report on Tuesday, March 4th. Barrington Research restated an “outperform” rating and issued a $350.00 price objective on shares of Snap-on in a research report on Monday, May 19th. Robert W. Baird lowered their price objective on Snap-on from $349.00 to $320.00 and set a “neutral” rating on the stock in a research report on Monday, April 21st. Longbow Research upgraded Snap-on from a “neutral” rating to a “buy” rating and set a $400.00 price objective on the stock in a research report on Monday, March 31st. Finally, Wall Street Zen upgraded Snap-on from a “hold” rating to a “buy” rating in a research report on Friday, May 16th. One research analyst has rated the stock with a sell rating, one has given a hold rating and five have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $350.83.

Snap-on 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.