Rockland Trust Co. Sells 210 Shares of Snap-on Incorporated (NYSE:SNA)

Rockland Trust Co. cut its stake in shares of Snap-on Incorporated (NYSE:SNA) by 6.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,186 shares of the company’s stock after selling 210 shares during the quarter. Rockland Trust Co.’s holdings in Snap-on were worth $1,082,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the company. Reston Wealth Management LLC bought a new stake in Snap-on during the 3rd quarter valued at $30,000. Massmutual Trust Co. FSB ADV lifted its position in shares of Snap-on by 53.0% during the third quarter. Massmutual Trust Co. FSB ADV now owns 127 shares of the company’s stock valued at $37,000 after purchasing an additional 44 shares in the last quarter. Brooklyn Investment Group bought a new stake in Snap-on in the 3rd quarter worth about $39,000. Quarry LP increased its stake in Snap-on by 244.7% in the 2nd quarter. Quarry LP now owns 162 shares of the company’s stock valued at $42,000 after buying an additional 115 shares during the last quarter. Finally, nVerses Capital LLC purchased a new position in shares of Snap-on in the 3rd quarter worth approximately $58,000. 84.88% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, CFO Aldo John Pagliari sold 6,909 shares of the company’s stock in a transaction that occurred on Wednesday, December 18th. The shares were 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 transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, VP Richard Thomas Miller sold 1,750 shares of the firm’s stock in a transaction on Friday, October 18th. The shares were sold at an average price of $330.00, for a total transaction of $577,500.00. Following the completion of the transaction, the vice president now directly owns 3,218 shares of the company’s stock, valued at approximately $1,061,940. The trade was a 35.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 46,679 shares of company stock worth $16,222,574 over the last ninety days. Company insiders own 4.10% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on SNA shares. Tigress Financial lifted their target price on Snap-on from $336.00 to $385.00 and gave the stock a “buy” rating in a research note on Friday, October 25th. Barrington Research lifted their price objective on shares of Snap-on from $325.00 to $350.00 and gave the stock an “outperform” rating in a research report on Thursday, October 17th. Bank of America increased their target price on shares of Snap-on from $255.00 to $280.00 and gave the company an “underperform” rating in a research report on Friday, October 18th. Robert W. Baird lifted their price target on shares of Snap-on from $290.00 to $347.00 and gave the stock a “neutral” rating in a report on Friday, October 18th. Finally, Roth Mkm increased their price objective on Snap-on from $324.00 to $365.00 and gave the company a “buy” rating in a report on Tuesday, October 22nd. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $345.40.

Snap-on Stock Performance

Shares of SNA stock opened at $339.73 on Wednesday. The firm’s 50 day moving average is $351.87 and its 200 day moving average is $308.86. The stock has a market capitalization of $17.84 billion, a P/E ratio of 17.48, a PEG ratio of 2.35 and a beta of 1.00. Snap-on Incorporated has a 12 month low of $252.98 and a 12 month high of $373.89. The company has a current ratio of 4.18, a quick ratio of 3.14 and a debt-to-equity ratio of 0.22.

Snap-on (NYSE:SNA) last posted its earnings results on Thursday, October 17th. The company reported $4.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.58 by $0.12. Snap-on had a return on equity of 19.44% and a net margin of 22.13%. The firm had revenue of $1.15 billion for the quarter, compared to the consensus estimate of $1.16 billion. On average, sell-side analysts anticipate that Snap-on Incorporated will post 19.05 earnings per share for the current year.

Snap-on Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Thursday, November 21st were issued a dividend of $2.14 per share. This represents a $8.56 dividend on an annualized basis and a yield of 2.52%. The ex-dividend date was Thursday, November 21st. This is a positive change from Snap-on’s previous quarterly dividend of $1.86. Snap-on’s payout ratio is presently 44.06%.

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.