VeraBank N.A. Makes New Investment in Snap-on Incorporated (NYSE:SNA)

VeraBank N.A. bought a new stake in Snap-on Incorporated (NYSE:SNA) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 652 shares of the company’s stock, valued at approximately $221,000.

Several other hedge funds also recently modified their holdings of the stock. Benjamin Edwards Inc. lifted its stake in Snap-on by 2,691.2% during the 3rd quarter. Benjamin Edwards Inc. now owns 158,092 shares of the company’s stock valued at $45,810,000 after acquiring an additional 152,428 shares in the last quarter. International Assets Investment Management LLC raised its holdings in shares of Snap-on by 34,381.0% in the third quarter. International Assets Investment Management LLC now owns 130,338 shares of the company’s stock valued at $37,760,000 after purchasing an additional 129,960 shares during the last quarter. Nordea Investment Management AB lifted its position in shares of Snap-on by 12.8% during the fourth quarter. Nordea Investment Management AB now owns 1,128,317 shares of the company’s stock valued at $384,813,000 after purchasing an additional 127,859 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec boosted its holdings in Snap-on by 45.4% during the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 257,450 shares of the company’s stock worth $74,586,000 after purchasing an additional 80,421 shares during the last quarter. Finally, Pacer Advisors Inc. grew its position in Snap-on by 9.4% in the 3rd quarter. Pacer Advisors Inc. now owns 907,655 shares of the company’s stock worth $262,957,000 after purchasing an additional 78,184 shares in 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, CFO Aldo John Pagliari sold 6,909 shares of the stock in a transaction dated Wednesday, December 18th. The stock was sold at an average price of $347.62, for a total transaction of $2,401,706.58. Following the sale, the chief financial officer now owns 100,668 shares of the company’s stock, valued at approximately $34,994,210.16. This represents a 6.42 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Jesus Arregui sold 6,451 shares of the firm’s stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $337.81, for a total value of $2,179,212.31. Following the completion of the transaction, the senior vice president now owns 257 shares of the company’s stock, valued at approximately $86,817.17. This represents a 96.17 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 38,643 shares of company stock worth $13,580,191. 4.10% of the stock is owned by corporate insiders.

Snap-on Price Performance

Shares of NYSE SNA opened at $339.12 on Friday. The company has a current ratio of 4.15, a quick ratio of 3.14 and a debt-to-equity ratio of 0.22. The stock has a fifty day simple moving average of $345.36 and a two-hundred day simple moving average of $321.38. Snap-on Incorporated has a 1-year low of $252.98 and a 1-year high of $373.89. The firm has a market cap of $17.81 billion, a price-to-earnings ratio of 17.39, a price-to-earnings-growth ratio of 2.13 and a beta of 0.99.

Snap-on (NYSE:SNA) last posted its quarterly earnings results on Thursday, February 6th. The company reported $4.82 earnings per share for the quarter, topping the consensus estimate of $4.78 by $0.04. Snap-on had a return on equity of 19.20% and a net margin of 21.71%. During the same quarter in the prior year, the business posted $4.75 earnings per share. Analysts anticipate that Snap-on Incorporated will post 20.07 earnings per share for the current year.

Snap-on Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Stockholders of record on Monday, February 24th will be given a $2.14 dividend. This represents a $8.56 annualized dividend and a dividend yield of 2.52%. The ex-dividend date is Monday, February 24th. Snap-on’s dividend payout ratio (DPR) is currently 43.90%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on SNA shares. Barrington Research restated an “outperform” rating and issued a $350.00 target price on shares of Snap-on in a research note on Monday, February 10th. Tigress Financial boosted their price objective on Snap-on from $336.00 to $385.00 and gave the stock a “buy” rating in a research report on Friday, October 25th. Finally, Roth Mkm raised their target price on Snap-on from $324.00 to $365.00 and gave the company a “buy” rating in a research report on Tuesday, October 22nd. One analyst has rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $345.40.

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.