TIAA Trust National Association Has $1.12 Million Stock Position in Snap-on Incorporated (NYSE:SNA)

TIAA Trust National Association decreased its position in Snap-on Incorporated (NYSE:SNA) by 5.2% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 4,265 shares of the company’s stock after selling 232 shares during the period. TIAA Trust National Association’s holdings in Snap-on were worth $1,115,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the company. Scarborough Advisors LLC bought a new stake in shares of Snap-on in the 4th quarter valued at approximately $30,000. Opal Wealth Advisors LLC bought a new stake in shares of Snap-on in the 2nd quarter valued at approximately $30,000. Innealta Capital LLC bought a new stake in shares of Snap-on in the 2nd quarter valued at approximately $32,000. Fidelis Capital Partners LLC bought a new stake in shares of Snap-on in the 1st quarter valued at approximately $56,000. Finally, Versant Capital Management Inc grew its stake in shares of Snap-on by 529.0% in the 2nd quarter. Versant Capital Management Inc now owns 195 shares of the company’s stock valued at $51,000 after purchasing an additional 164 shares during the period. Institutional investors and hedge funds own 84.88% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on SNA. Roth Mkm restated a “buy” rating and set a $324.00 price target on shares of Snap-on in a research report on Tuesday, July 16th. Robert W. Baird decreased their price target on Snap-on from $282.00 to $275.00 and set a “neutral” rating on the stock in a research report on Friday, July 12th. Tigress Financial restated a “buy” rating and set a $336.00 price target on shares of Snap-on in a research report on Thursday, July 25th. Finally, Barrington Research restated an “outperform” rating and set a $325.00 price target on shares of Snap-on in a research report on Tuesday, July 16th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $315.00.

Snap-on Stock Down 2.5 %

Shares of SNA opened at $272.09 on Friday. The firm has a market capitalization of $14.33 billion, a price-to-earnings ratio of 14.28, a PEG ratio of 1.97 and a beta of 0.98. The company has a debt-to-equity ratio of 0.22, a quick ratio of 3.05 and a current ratio of 4.06. The business’s fifty day moving average price is $272.97 and its two-hundred day moving average price is $276.23. Snap-on Incorporated has a 52 week low of $249.84 and a 52 week high of $298.49.

Snap-on (NYSE:SNA) last announced its quarterly earnings data on Thursday, July 18th. The company reported $5.07 EPS for the quarter, beating analysts’ consensus estimates of $4.94 by $0.13. The firm had revenue of $1.18 billion for the quarter, compared to analyst estimates of $1.20 billion. Snap-on had a return on equity of 19.90% and a net margin of 21.90%. The business’s quarterly revenue was down 1.0% compared to the same quarter last year. During the same period last year, the company earned $4.89 EPS. On average, analysts predict that Snap-on Incorporated will post 18.95 earnings per share for the current year.

Snap-on Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Monday, August 19th will be paid a $1.86 dividend. This represents a $7.44 dividend on an annualized basis and a dividend yield of 2.73%. The ex-dividend date is Monday, August 19th. Snap-on’s dividend payout ratio (DPR) is currently 39.03%.

Snap-on declared that its Board of Directors has authorized a stock buyback plan on Thursday, August 8th that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the company to buy up to 3.5% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board of directors believes its shares are undervalued.

Insider Activity

In related news, VP June C. Lemerand sold 1,186 shares of the firm’s stock in a transaction on Monday, August 26th. The stock was sold at an average price of $283.97, for a total transaction of $336,788.42. Following the sale, the vice president now owns 2,283 shares of the company’s stock, valued at approximately $648,303.51. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Snap-on news, VP June C. Lemerand sold 1,186 shares of the stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $283.97, for a total transaction of $336,788.42. Following the completion of the transaction, the vice president now owns 2,283 shares in the company, valued at approximately $648,303.51. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Nicholas T. Pinchuk sold 24,145 shares of the stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $268.95, for a total value of $6,493,797.75. Following the transaction, the chief executive officer now owns 759,019 shares of the company’s stock, valued at approximately $204,138,160.05. The disclosure for this sale can be found here. Insiders have sold a total of 29,804 shares of company stock valued at $8,077,390 in the last 90 days. 4.10% of the stock is owned by company insiders.

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.