Snap-on Incorporated (NYSE:SNA) Shares Sold by Teachers Retirement System of The State of Kentucky

Teachers Retirement System of The State of Kentucky lessened its holdings in Snap-on Incorporated (NYSE:SNA) by 8.9% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 3,937 shares of the company’s stock after selling 384 shares during the period. Teachers Retirement System of The State of Kentucky’s holdings in Snap-on were worth $1,141,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Asset Management One Co. Ltd. boosted its holdings in Snap-on by 0.3% in the 3rd quarter. Asset Management One Co. Ltd. now owns 19,896 shares of the company’s stock worth $5,764,000 after acquiring an additional 67 shares during the period. Strategic Financial Concepts LLC purchased a new position in shares of Snap-on in the second quarter valued at $3,653,000. Integrated Wealth Concepts LLC grew its holdings in Snap-on by 220.7% during the 3rd quarter. Integrated Wealth Concepts LLC now owns 2,716 shares of the company’s stock valued at $787,000 after purchasing an additional 1,869 shares in the last quarter. Victory Capital Management Inc. increased its stake in Snap-on by 21.5% during the 3rd quarter. Victory Capital Management Inc. now owns 158,777 shares of the company’s stock worth $45,999,000 after buying an additional 28,049 shares during the period. Finally, Empirical Finance LLC lifted its holdings in Snap-on by 105.5% in the 2nd quarter. Empirical Finance LLC now owns 3,994 shares of the company’s stock worth $1,044,000 after buying an additional 2,050 shares in the last quarter. 84.88% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Snap-on news, VP Iain Boyd sold 6,044 shares of the business’s stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $298.99, for a total transaction of $1,807,095.56. Following the completion of the transaction, the vice president now directly owns 10,493 shares of the company’s stock, valued at $3,137,302.07. The trade was a 36.55 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP June C. Lemerand sold 3,500 shares of the firm’s stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $362.86, for a total transaction of $1,270,010.00. Following the completion of the sale, the vice president now owns 2,289 shares in the company, valued at $830,586.54. The trade was a 60.46 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 45,814 shares of company stock valued at $15,627,963. 4.10% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on SNA shares. Bank of America lifted their target price on Snap-on from $255.00 to $280.00 and gave the stock an “underperform” rating in a research report on Friday, October 18th. Roth Mkm upped their target price on Snap-on from $324.00 to $365.00 and gave the company a “buy” rating in a research report on Tuesday, October 22nd. Tigress Financial raised their price target on shares of Snap-on from $336.00 to $385.00 and gave the stock a “buy” rating in a research report on Friday, October 25th. Barrington Research lifted their price target on shares of Snap-on from $325.00 to $350.00 and gave the stock an “outperform” rating in a research note on Thursday, October 17th. Finally, 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. One research analyst has rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, Snap-on currently has a consensus rating of “Hold” and a consensus price target of $345.40.

Snap-on Stock Performance

SNA stock opened at $338.27 on Thursday. The stock’s 50 day simple moving average is $343.31 and its 200 day simple moving average is $298.56. Snap-on Incorporated has a 12-month low of $252.98 and a 12-month high of $373.89. The firm has a market cap of $17.76 billion, a P/E ratio of 17.41, a P/E/G ratio of 2.35 and a beta of 0.98. The company has a current ratio of 4.18, a quick ratio of 3.14 and a debt-to-equity ratio of 0.22.

Snap-on (NYSE:SNA) last issued 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. Snap-on had a net margin of 22.13% and a return on equity of 19.44%. The company had revenue of $1.15 billion for the quarter, compared to analysts’ expectations of $1.16 billion. As a group, equities research analysts predict that Snap-on Incorporated will post 19.05 EPS for the current year.

Snap-on Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Thursday, November 21st were issued a $2.14 dividend. The ex-dividend date of this dividend was Thursday, November 21st. This represents a $8.56 dividend on an annualized basis and a yield of 2.53%. This is a boost from Snap-on’s previous quarterly dividend of $1.86. Snap-on’s dividend payout ratio (DPR) is currently 44.06%.

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.