Kentucky Retirement Systems Cuts Holdings in Snap-on Incorporated (NYSE:SNA)

Kentucky Retirement Systems cut its holdings in shares of Snap-on Incorporated (NYSE:SNA) by 1.4% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 3,620 shares of the company’s stock after selling 50 shares during the period. Kentucky Retirement Systems’ holdings in Snap-on were worth $1,229,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. UMB Bank n.a. raised its position in shares of Snap-on by 70.5% during the 4th quarter. UMB Bank n.a. now owns 75 shares of the company’s stock worth $25,000 after purchasing an additional 31 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. purchased a new position in shares of Snap-on in the fourth quarter valued at approximately $28,000. Reston Wealth Management LLC acquired a new stake in shares of Snap-on in the third quarter worth approximately $30,000. Brooklyn Investment Group purchased a new stake in shares of Snap-on during the third quarter worth approximately $39,000. Finally, Private Trust Co. NA raised its stake in Snap-on by 38.2% in the 3rd quarter. Private Trust Co. NA now owns 217 shares of the company’s stock valued at $63,000 after purchasing an additional 60 shares during the last quarter. Hedge funds and other institutional investors own 84.88% of the company’s stock.

Insider Buying and Selling

In related news, SVP Jesus Arregui sold 6,451 shares of the company’s stock in a transaction on Monday, February 10th. The shares were sold at an average price of $337.81, for a total value of $2,179,212.31. Following the completion of the sale, the senior vice president now owns 257 shares in the company, valued at $86,817.17. This represents a 96.17 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Aldo John Pagliari sold 6,860 shares of the stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $339.05, for a total value of $2,325,883.00. Following the sale, the chief financial officer now directly owns 107,096 shares of the company’s stock, valued at $36,310,898.80. The trade was a 6.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 45,503 shares of company stock worth $15,906,074. Corporate insiders own 4.10% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Barrington Research reaffirmed an “outperform” rating and set a $350.00 target price on shares of Snap-on in a report on Monday, February 10th. One equities research 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. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $345.40.

Snap-on Stock Down 0.8 %

Shares of NYSE:SNA opened at $335.87 on Monday. Snap-on Incorporated has a 52-week low of $252.98 and a 52-week high of $373.89. The stock has a market cap of $17.60 billion, a P/E ratio of 17.22, a PEG ratio of 2.21 and a beta of 0.99. The business has a fifty day moving average of $343.79 and a two-hundred day moving average of $323.95. The company has a quick ratio of 3.17, a current ratio of 4.15 and a debt-to-equity ratio of 0.22.

Snap-on (NYSE:SNA) last issued its quarterly earnings data on Thursday, February 6th. The company reported $4.82 earnings per share for the quarter, topping the consensus estimate of $4.78 by $0.04. Snap-on had a return on equity of 19.20% and a net margin of 21.71%. During the same period last year, the business earned $4.75 earnings per share. On average, research analysts expect that Snap-on Incorporated will post 19.79 earnings per share for the current year.

Snap-on Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Monday, February 24th will be paid a $2.14 dividend. The ex-dividend date of this dividend is Monday, February 24th. This represents a $8.56 dividend on an annualized basis and a yield of 2.55%. Snap-on’s dividend payout ratio is currently 43.90%.

Snap-on Company 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.