Nisa Investment Advisors LLC Decreases Position in Snap-On Incorporated $SNA

Nisa Investment Advisors LLC reduced its position in shares of Snap-On Incorporated (NYSE:SNA) by 40.3% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 7,315 shares of the company’s stock after selling 4,948 shares during the period. Nisa Investment Advisors LLC’s holdings in Snap-On were worth $2,276,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of SNA. Kingstone Capital Partners Texas LLC purchased a new stake in shares of Snap-On during the 2nd quarter worth $434,938,000. Auto Owners Insurance Co lifted its position in shares of Snap-On by 35,967.2% during the 1st quarter. Auto Owners Insurance Co now owns 1,073,000 shares of the company’s stock worth $361,612,000 after purchasing an additional 1,070,025 shares during the last quarter. Ameriprise Financial Inc. lifted its position in shares of Snap-On by 54.3% during the 1st quarter. Ameriprise Financial Inc. now owns 681,857 shares of the company’s stock worth $229,793,000 after purchasing an additional 239,908 shares during the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in shares of Snap-On during the 2nd quarter worth $56,595,000. Finally, Nuveen LLC purchased a new stake in shares of Snap-On during the 1st quarter worth $45,711,000. 84.88% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

SNA has been the topic of several recent analyst reports. Bank of America increased their price target on shares of Snap-On from $265.00 to $285.00 and gave the company an “underperform” rating in a research note on Friday, July 18th. Tigress Financial increased their price target on shares of Snap-On from $395.00 to $405.00 and gave the company a “buy” rating in a research note on Tuesday, October 21st. Roth Capital reissued a “buy” rating and issued a $385.00 price target on shares of Snap-On in a research report on Friday, October 17th. Wall Street Zen raised shares of Snap-On from a “hold” rating to a “buy” rating in a research report on Saturday, October 18th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Snap-On in a research report on Wednesday, October 8th. Five analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $365.00.

Insider Transactions at Snap-On

In other news, CFO Aldo John Pagliari sold 125 shares of the company’s stock in a transaction dated Friday, August 15th. The shares were sold at an average price of $325.21, for a total value 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 approximately $36,332,786.41. This represents a 0.11% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Nicholas T. Pinchuk sold 23,042 shares of the company’s stock in a transaction dated Monday, August 11th. The shares were sold at an average price of $320.88, for a total transaction of $7,393,716.96. Following the completion of the sale, the chief executive officer directly owned 815,219 shares of the company’s stock, valued at $261,587,472.72. The trade was a 2.75% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 27,898 shares of company stock valued at $8,983,203 over the last ninety days. Corporate insiders own 3.90% of the company’s stock.

Snap-On Price Performance

Shares of NYSE:SNA opened at $338.63 on Friday. The company has a 50-day simple moving average of $336.00 and a 200-day simple moving average of $325.06. Snap-On Incorporated has a one year low of $289.81 and a one year high of $373.89. The company has a debt-to-equity ratio of 0.20, a quick ratio of 3.37 and a current ratio of 4.40. The stock has a market capitalization of $17.61 billion, a price-to-earnings ratio of 17.76, a PEG ratio of 2.33 and a beta of 0.78.

Snap-On (NYSE:SNA) last announced its earnings results on Thursday, October 16th. The company reported $4.71 EPS for the quarter, beating analysts’ consensus estimates of $4.59 by $0.12. Snap-On had a net margin of 21.08% and a return on equity of 17.71%. The business had revenue of $1.19 billion during the quarter, compared to analysts’ expectations of $1.16 billion. During the same period in the prior year, the company earned $4.70 earnings per share. The business’s revenue was up 3.8% compared to the same quarter last year. On average, analysts predict that Snap-On Incorporated will post 19.79 EPS for the current year.

Snap-On Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 10th. Stockholders of record on Tuesday, August 19th were issued a $2.14 dividend. This represents a $8.56 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date of this dividend was Tuesday, August 19th. Snap-On’s dividend payout ratio is presently 44.89%.

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.