Voya Investment Management LLC Sells 25,459 Shares of Snap-On Incorporated $SNA

Voya Investment Management LLC cut its position in shares of Snap-On Incorporated (NYSE:SNA) by 56.8% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 19,336 shares of the company’s stock after selling 25,459 shares during the quarter. Voya Investment Management LLC’s holdings in Snap-On were worth $6,701,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Tobam bought a new position in shares of Snap-On during the 2nd quarter worth approximately $29,000. Vermillion & White Wealth Management Group LLC lifted its holdings in Snap-On by 97.9% during the second quarter. Vermillion & White Wealth Management Group LLC now owns 95 shares of the company’s stock worth $30,000 after acquiring an additional 47 shares during the period. Ameritas Advisory Services LLC bought a new stake in Snap-On during the second quarter worth $30,000. Thurston Springer Miller Herd & Titak Inc. boosted its position in Snap-On by 52.8% in the second quarter. Thurston Springer Miller Herd & Titak Inc. now owns 110 shares of the company’s stock worth $34,000 after purchasing an additional 38 shares during the last quarter. Finally, Ransom Advisory Ltd bought a new position in Snap-On in the 1st quarter valued at $34,000. Hedge funds and other institutional investors own 84.88% of the company’s stock.

Snap-On Price Performance

SNA opened at $352.91 on Thursday. The firm has a 50-day moving average price of $342.12 and a 200-day moving average price of $331.53. Snap-On Incorporated has a twelve month low of $289.81 and a twelve month high of $365.78. The company has a quick ratio of 3.37, a current ratio of 4.40 and a debt-to-equity ratio of 0.20. The company has a market capitalization of $18.36 billion, a price-to-earnings ratio of 18.51, a PEG ratio of 2.66 and a beta of 0.78.

Snap-On (NYSE:SNA) last released its quarterly earnings data on Thursday, October 16th. The company reported $4.71 EPS for the quarter, topping the consensus estimate of $4.59 by $0.12. Snap-On had a net margin of 21.08% and a return on equity of 17.71%. The company had revenue of $1.19 billion during the quarter, compared to the consensus estimate of $1.16 billion. During the same period last year, the firm earned $4.70 EPS. Snap-On’s revenue for the quarter was up 3.8% on a year-over-year basis. Equities analysts expect that Snap-On Incorporated will post 19.79 EPS for the current year.

Snap-On Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, December 10th. Shareholders of record on Friday, November 21st were paid a $2.44 dividend. The ex-dividend date was Friday, November 21st. This represents a $9.76 annualized dividend and a yield of 2.8%. This is an increase from Snap-On’s previous quarterly dividend of $2.14. Snap-On’s dividend payout ratio is 51.18%.

Wall Street Analysts Forecast Growth

SNA has been the topic of a number of research analyst reports. Robert W. Baird boosted their price target on shares of Snap-On from $355.00 to $365.00 and gave the stock a “neutral” rating in a 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. Tigress Financial increased their target price on shares of Snap-On from $395.00 to $405.00 and gave the company a “buy” rating in a research report on Tuesday, October 21st. Barrington Research restated an “outperform” rating and set a $350.00 price target on shares of Snap-On in a research note on Wednesday, October 15th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Snap-On in a research note on Wednesday, October 8th. Five equities research 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 currently has an average rating of “Moderate Buy” and an average price target of $365.00.

Insider Buying and Selling

In related news, CFO Aldo John Pagliari sold 6,779 shares of the business’s stock in a transaction that occurred on Thursday, December 11th. The shares were sold at an average price of $352.20, for a total transaction of $2,387,563.80. Following the completion of the transaction, the chief financial officer owned 111,888 shares of the company’s stock, valued at approximately $39,406,953.60. The trade was a 5.71% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Nicholas T. Pinchuk sold 22,607 shares of the stock in a transaction that occurred on Tuesday, December 2nd. The stock was sold at an average price of $339.15, for a total transaction of $7,667,164.05. Following the completion of the sale, the chief executive officer owned 826,364 shares in the company, valued at $280,261,350.60. This represents a 2.66% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 40,036 shares of company stock worth $13,710,988 over the last quarter. 3.90% of the stock is owned by corporate insiders.

Snap-On Profile

Snap‑On Incorporated (NYSE: SNA) is a designer, manufacturer and marketer of tools, diagnostic equipment, repair information and shop equipment for professional users. The company’s product range includes hand and power tools, tool storage and cabinets, diagnostic scan tools and software, shop equipment such as lifts and tire changers, and specialized specialty tools for automotive, aviation, marine and industrial applications. Snap‑On also offers information and workflow solutions that combine diagnostic data, repair procedures and parts information to support professional technicians.

Founded in 1920 and headquartered in Kenosha, Wisconsin, Snap‑On has established a long history in the professional tools market.