Canandaigua National Bank & Trust Co. Sells 200 Shares of Snap-on Incorporated (NYSE:SNA)

Canandaigua National Bank & Trust Co. lessened its holdings in Snap-on Incorporated (NYSE:SNA) by 3.0% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 6,530 shares of the company’s stock after selling 200 shares during the quarter. Canandaigua National Bank & Trust Co.’s holdings in Snap-on were worth $2,217,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Reston Wealth Management LLC bought a new position in Snap-on in the third quarter valued at about $30,000. Massmutual Trust Co. FSB ADV increased its position in Snap-on by 53.0% during the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 127 shares of the company’s stock worth $37,000 after purchasing an additional 44 shares in the last quarter. Brooklyn Investment Group bought a new position in Snap-on in the 3rd quarter valued at approximately $39,000. Quarry LP grew its stake in shares of Snap-on by 244.7% during the second quarter. Quarry LP now owns 162 shares of the company’s stock worth $42,000 after buying an additional 115 shares during the last quarter. Finally, nVerses Capital LLC bought a new position in shares of Snap-on in the 3rd quarter valued at $58,000. Institutional investors and hedge funds own 84.88% of the company’s stock.

Insiders Place Their Bets

In other news, SVP Thomas J. Ward sold 12,737 shares of the firm’s stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $333.21, for a total value of $4,244,095.77. Following the completion of the sale, the senior vice president now directly owns 55,401 shares in the company, valued at $18,460,167.21. This trade represents a 18.69 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, VP June C. Lemerand sold 3,500 shares of the company’s stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $362.86, for a total value of $1,270,010.00. Following the transaction, the vice president now directly owns 2,289 shares in the company, valued at approximately $830,586.54. This trade represents a 60.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 52,723 shares of company stock worth $18,029,670. 4.10% of the stock is currently owned by company insiders.

Snap-on Trading Down 0.5 %

Shares of SNA stock traded down $1.84 during mid-day trading on Monday, hitting $334.23. The company’s stock had a trading volume of 365,204 shares, compared to its average volume of 315,368. Snap-on Incorporated has a 52 week low of $252.98 and a 52 week high of $373.89. The company has a debt-to-equity ratio of 0.22, a quick ratio of 3.14 and a current ratio of 4.18. The company’s fifty day simple moving average is $351.29 and its 200-day simple moving average is $305.29. The company has a market cap of $17.55 billion, a PE ratio of 17.20, a P/E/G ratio of 2.35 and a beta of 1.00.

Snap-on (NYSE:SNA) last issued its quarterly earnings results on Thursday, October 17th. The company reported $4.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.58 by $0.12. The firm had revenue of $1.15 billion for the quarter, compared to analyst estimates of $1.16 billion. Snap-on had a return on equity of 19.44% and a net margin of 22.13%. As a group, equities research analysts expect that Snap-on Incorporated will post 19.05 earnings per share for the current fiscal year.

Snap-on Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 10th. Investors of record on Thursday, November 21st were paid a dividend of $2.14 per share. The ex-dividend date of this dividend was Thursday, November 21st. This is a positive change from Snap-on’s previous quarterly dividend of $1.86. This represents a $8.56 annualized dividend and a yield of 2.56%. Snap-on’s dividend payout ratio is currently 44.06%.

Analysts Set New Price Targets

A number of brokerages have recently commented on SNA. Barrington Research boosted their price target on Snap-on from $325.00 to $350.00 and gave the stock an “outperform” rating in a report on Thursday, October 17th. Robert W. Baird raised their price target on shares of Snap-on from $290.00 to $347.00 and gave the company a “neutral” rating in a research note on Friday, October 18th. Tigress Financial boosted their price objective on shares of Snap-on from $336.00 to $385.00 and gave the stock a “buy” rating in a research note on Friday, October 25th. Roth Mkm raised their target price on Snap-on from $324.00 to $365.00 and gave the stock a “buy” rating in a research report on Tuesday, October 22nd. Finally, Bank of America upped their price target on Snap-on from $255.00 to $280.00 and gave the company an “underperform” rating in a research report on Friday, October 18th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average 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.