Snap-On Incorporated $SNA Shares Acquired by Vest Financial LLC

Key Points

• Vest Financial LLC increased its stake in Snap-On Incorporated by 5.2% during the second quarter, now owning 137,380 shares valued at approximately $42.75 million.
• In recent insider trading, Snap-On's CFO sold 125 shares and CEO sold over 23,000 shares of the company's stock, which indicates a decrease in their respective ownership percentages.
• Multiple analysts have raised their target prices for Snap-On, with Tigress Financial setting a new target of $395.00 and others varying between $285.00 and $395.00, while the stock currently has a consensus rating of "Moderate Buy."

Vest Financial LLC lifted its stake in shares of Snap-On Incorporated (NYSE:SNA - Free Report) by 5.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 137,380 shares of the company's stock after purchasing an additional 6,729 shares during the quarter. Vest Financial LLC owned about 0.26% of Snap-On worth $42,750,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Alpine Bank Wealth Management acquired a new stake in shares of Snap-On during the 1st quarter worth approximately $25,000. Ameritas Advisory Services LLC acquired a new stake in Snap-On in the 2nd quarter valued at approximately $30,000. Golden State Wealth Management LLC increased its position in Snap-On by 421.1% in the 1st quarter. Golden State Wealth Management LLC now owns 99 shares of the company's stock valued at $33,000 after acquiring an additional 80 shares during the period. Ransom Advisory Ltd acquired a new stake in Snap-On in the 1st quarter valued at approximately $34,000. Finally, Cullen Frost Bankers Inc. increased its position in Snap-On by 248.3% in the 1st quarter. Cullen Frost Bankers Inc. now owns 101 shares of the company's stock valued at $34,000 after acquiring an additional 72 shares during the period. 84.88% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Snap-On

In other news, CFO Aldo John Pagliari sold 125 shares of the company's stock in a transaction on Friday, August 15th. The stock was sold at an average price of $325.21, for a total transaction of $40,651.25. Following the completion of the sale, the chief financial officer directly owned 111,721 shares of the company's stock, valued at $36,332,786.41. This represents a 0.11% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Nicholas T. Pinchuk sold 23,042 shares of the company's stock in a transaction on Monday, August 11th. The shares were sold at an average price of $320.88, for a total value of $7,393,716.96. Following the sale, the chief executive officer directly owned 815,219 shares of the company's stock, valued at approximately $261,587,472.72. This represents a 2.75% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 27,898 shares of company stock valued at $8,983,203. 3.90% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several analysts recently commented on the company. Tigress Financial raised their target price on Snap-On from $390.00 to $395.00 and gave the company a "buy" rating in a research report on Friday, August 29th. Robert W. Baird raised their target price on Snap-On from $329.00 to $347.00 and gave the company a "neutral" rating in a research report on Friday, July 18th. Bank of America raised their target price on Snap-On from $265.00 to $285.00 and gave the company an "underperform" rating in a research report on Friday, July 18th. Weiss Ratings restated a "buy (b)" rating on shares of Snap-On in a research report on Wednesday, October 8th. Finally, Barrington Research restated an "outperform" rating and issued a $350.00 target price on shares of Snap-On in a research report on Tuesday, September 23rd. Five investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $357.00.

Snap-On Stock Down 1.4%

Shares of SNA stock opened at $327.21 on Monday. Snap-On Incorporated has a 1 year low of $287.44 and a 1 year high of $373.89. The stock has a market cap of $17.07 billion, a PE ratio of 17.45, a price-to-earnings-growth ratio of 2.27 and a beta of 0.78. The business's fifty day moving average is $331.20 and its 200-day moving average is $323.62. The company has a debt-to-equity ratio of 0.21, a quick ratio of 3.42 and a current ratio of 4.48.

Snap-On (NYSE:SNA - Get Free Report) last released its quarterly earnings data on Thursday, July 17th. The company reported $4.72 earnings per share for the quarter, topping the consensus estimate of $4.61 by $0.11. The business had revenue of $1.18 billion during the quarter, compared to analyst estimates of $1.16 billion. Snap-On had a return on equity of 18.02% and a net margin of 20.98%.The company's revenue was up .0% compared to the same quarter last year. During the same period last year, the company posted $5.07 EPS. Equities analysts expect that Snap-On Incorporated will post 19.79 earnings per share for the current fiscal year.

Snap-On Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 10th. Stockholders of record on Tuesday, August 19th were issued a dividend of $2.14 per share. This represents a $8.56 annualized dividend and a dividend yield of 2.6%. The ex-dividend date of this dividend was Tuesday, August 19th. Snap-On's dividend payout ratio is currently 45.65%.

About Snap-On

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.

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