Retirement Systems of Alabama Decreases Holdings in Snap-on Incorporated (NYSE:SNA)

Retirement Systems of Alabama reduced its position in Snap-on Incorporated (NYSE:SNA) by 1.4% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 11,369 shares of the company’s stock after selling 157 shares during the period. Retirement Systems of Alabama’s holdings in Snap-on were worth $3,860,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of the company. UMB Bank n.a. increased its stake in shares of Snap-on by 70.5% in the fourth quarter. UMB Bank n.a. now owns 75 shares of the company’s stock worth $25,000 after purchasing an additional 31 shares in the last quarter. Reston Wealth Management LLC bought a new position in Snap-on in the 3rd quarter valued at $30,000. Brooklyn Investment Group purchased a new stake in shares of Snap-on in the third quarter valued at approximately $39,000. nVerses Capital LLC bought a new position in Snap-on during the 3rd quarter worth about $58,000. Finally, Private Trust Co. NA increased its position in Snap-on by 38.2% during 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 period. Institutional investors own 84.88% of the company’s stock.

Analyst Upgrades and Downgrades

SNA has been the topic of a number of recent research reports. Robert W. Baird increased their price objective 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 lifted their price target on Snap-on from $336.00 to $385.00 and gave the company a “buy” rating in a report on Friday, October 25th. Bank of America upped their price objective on Snap-on from $255.00 to $280.00 and gave the stock an “underperform” rating in a research note on Friday, October 18th. Barrington Research reiterated an “outperform” rating and issued a $350.00 target price on shares of Snap-on in a report on Monday. Finally, Roth Mkm raised their price target on shares of Snap-on from $324.00 to $365.00 and gave the company a “buy” rating in a report on Tuesday, October 22nd. One analyst has rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, Snap-on has a consensus rating of “Hold” and an average price target of $345.40.

Insider Activity

In other Snap-on news, VP June C. Lemerand sold 3,500 shares of the business’s stock in a transaction dated 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 sale, the vice president now owns 2,289 shares in the company, valued at approximately $830,586.54. The trade was a 60.46 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Nicholas T. Pinchuk sold 21,783 shares of the firm’s stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $354.83, for a total value of $7,729,261.89. Following the completion of the transaction, the chief executive officer now owns 769,738 shares of the company’s stock, valued at approximately $273,126,134.54. The trade was a 2.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 32,192 shares of company stock valued at $11,400,978 over the last ninety days. 4.10% of the stock is currently owned by insiders.

Snap-on Trading Up 0.6 %

Snap-on stock opened at $340.38 on Tuesday. Snap-on Incorporated has a one year low of $252.98 and a one year high of $373.89. The stock has a market cap of $17.87 billion, a PE ratio of 17.46, a price-to-earnings-growth ratio of 2.13 and a beta of 0.99. The company has a debt-to-equity ratio of 0.22, a quick ratio of 3.14 and a current ratio of 4.15. The stock has a 50-day moving average of $347.29 and a two-hundred day moving average of $320.10.

Snap-on (NYSE:SNA) last released its earnings results on Thursday, February 6th. The company reported $4.82 EPS for the quarter, topping analysts’ consensus estimates of $4.78 by $0.04. Snap-on had a net margin of 21.71% and a return on equity of 19.20%. During the same period in the previous year, the firm posted $4.75 earnings per share. On average, research analysts anticipate that Snap-on Incorporated will post 20.07 EPS for the current fiscal year.

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.