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

Canandaigua National Bank & Trust Co. trimmed its position in shares of Snap-on Incorporated (NYSE:SNA) by 3.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. 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 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in SNA. Asset Management One Co. Ltd. boosted its holdings in shares of Snap-on by 0.3% in the third quarter. Asset Management One Co. Ltd. now owns 19,896 shares of the company’s stock valued at $5,764,000 after buying an additional 67 shares during the period. Sanctuary Advisors LLC grew its stake in shares of Snap-on by 3.6% during the 3rd quarter. Sanctuary Advisors LLC now owns 45,783 shares of the company’s stock worth $13,264,000 after acquiring an additional 1,605 shares in the last quarter. World Investment Advisors LLC acquired a new stake in shares of Snap-on in the third quarter valued at approximately $19,291,000. Integrated Wealth Concepts LLC boosted its holdings in Snap-on by 220.7% during the third quarter. Integrated Wealth Concepts LLC now owns 2,716 shares of the company’s stock worth $787,000 after purchasing an additional 1,869 shares during the last quarter. Finally, Strategic Financial Concepts LLC bought a new stake in Snap-on during the 2nd quarter worth about $3,653,000. Institutional investors and hedge funds own 84.88% of the company’s stock.

Analyst Ratings Changes

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

Snap-on Stock Performance

Snap-on stock traded down $1.84 during trading hours on Monday, hitting $334.23. The company had a trading volume of 365,204 shares, compared to its average volume of 315,368. The firm has a 50-day moving average of $351.29 and a 200 day moving average of $305.29. The company has a debt-to-equity ratio of 0.22, a current ratio of 4.18 and a quick ratio of 3.14. The firm has a market cap of $17.55 billion, a PE ratio of 17.20, a PEG ratio of 2.35 and a beta of 1.00. Snap-on Incorporated has a one year low of $252.98 and a one year high of $373.89.

Snap-on (NYSE:SNA) last announced its earnings results on Thursday, October 17th. The company reported $4.70 earnings per share for the quarter, topping analysts’ consensus estimates of $4.58 by $0.12. The company 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%. On average, sell-side analysts expect that Snap-on Incorporated will post 19.05 earnings per share for the current year.

Snap-on Increases Dividend

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

Insider Buying and Selling

In other Snap-on news, VP June C. Lemerand sold 3,500 shares of the firm’s stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $362.86, for a total transaction of $1,270,010.00. Following the transaction, the vice president now owns 2,289 shares in the company, valued at $830,586.54. This trade represents a 60.46 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Aldo John Pagliari sold 6,909 shares of the company’s stock in a transaction on Wednesday, December 18th. The shares were sold at an average price of $347.62, for a total value 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. The trade was a 6.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 52,723 shares of company stock valued at $18,029,670. 4.10% of the stock is owned by company insiders.

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.