Canandaigua National Bank & Trust Co. Sells 209 Shares of Snap-on Incorporated (NYSE:SNA)

Canandaigua National Bank & Trust Co. decreased its position in Snap-on Incorporated (NYSE:SNA) by 3.0% during the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 6,730 shares of the company’s stock after selling 209 shares during the quarter. Canandaigua National Bank & Trust Co.’s holdings in Snap-on were worth $1,950,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Scarborough Advisors LLC bought a new position in shares of Snap-on in the 4th quarter worth approximately $30,000. Opal Wealth Advisors LLC bought a new position in Snap-on in the second quarter worth approximately $30,000. Innealta Capital LLC purchased a new position in shares of Snap-on during the 2nd quarter worth $32,000. Massmutual Trust Co. FSB ADV grew its position in shares of Snap-on by 53.0% during the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 127 shares of the company’s stock valued at $37,000 after acquiring an additional 44 shares during the period. Finally, Quarry LP increased its stake in shares of Snap-on by 244.7% in the 2nd quarter. Quarry LP now owns 162 shares of the company’s stock worth $42,000 after purchasing an additional 115 shares in the last quarter. 84.88% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, CFO Aldo John Pagliari sold 4,473 shares of Snap-on stock in a transaction dated Thursday, August 22nd. The stock was sold at an average price of $278.74, for a total value of $1,246,804.02. Following the sale, the chief financial officer now directly owns 99,244 shares of the company’s stock, valued at $27,663,272.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Snap-on news, CFO Aldo John Pagliari sold 4,473 shares of the firm’s stock in a transaction that occurred on Thursday, August 22nd. The stock was sold at an average price of $278.74, for a total transaction of $1,246,804.02. Following the completion of the transaction, the chief financial officer now owns 99,244 shares in the company, valued at approximately $27,663,272.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Nicholas T. Pinchuk sold 24,145 shares of Snap-on stock in a transaction that occurred on 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 completion of the sale, the chief executive officer now directly owns 759,019 shares in the company, 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 worth $8,077,390 in the last 90 days. 4.10% of the stock is currently owned by corporate insiders.

Snap-on Stock Performance

NYSE SNA opened at $288.71 on Friday. The company has a quick ratio of 3.05, a current ratio of 4.06 and a debt-to-equity ratio of 0.22. Snap-on Incorporated has a twelve month low of $249.84 and a twelve month high of $298.49. The business has a 50-day moving average price of $279.49 and a 200-day moving average price of $276.37. The firm has a market cap of $15.21 billion, a price-to-earnings ratio of 15.15, a price-to-earnings-growth ratio of 2.00 and a beta of 0.98.

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

Snap-on declared that its Board of Directors has approved a share repurchase program on Thursday, August 8th that allows the company to repurchase $500.00 million in shares. This repurchase authorization allows the company to repurchase up to 3.5% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s leadership believes its stock is undervalued.

Snap-on Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Monday, August 19th were issued a $1.86 dividend. The ex-dividend date was Monday, August 19th. This represents a $7.44 dividend on an annualized basis and a yield of 2.58%. Snap-on’s dividend payout ratio is currently 39.03%.

Analyst Ratings Changes

Several equities analysts recently weighed in on the company. Tigress Financial reiterated a “buy” rating and set a $336.00 target price on shares of Snap-on in a research report on Thursday, July 25th. Roth Mkm reaffirmed a “buy” rating and set a $324.00 price objective on shares of Snap-on in a research report on Tuesday, July 16th. Robert W. Baird reduced their target price on shares of Snap-on from $282.00 to $275.00 and set a “neutral” rating for the company in a report on Friday, July 12th. Finally, Barrington Research reaffirmed an “outperform” rating and set a $325.00 price target on shares of Snap-on in a report on Friday, September 20th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $315.00.

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.