Retirement Systems of Alabama Has $3.34 Million Stake in Snap-on Incorporated (NYSE:SNA)

Retirement Systems of Alabama lessened its stake in shares of Snap-on Incorporated (NYSE:SNA) by 0.9% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 11,526 shares of the company’s stock after selling 104 shares during the period. Retirement Systems of Alabama’s holdings in Snap-on were worth $3,339,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Franklin Resources Inc. raised its holdings in shares of Snap-on by 15.9% during the third quarter. Franklin Resources Inc. now owns 87,026 shares of the company’s stock valued at $25,812,000 after purchasing an additional 11,970 shares during the period. Synovus Financial Corp raised its stake in Snap-on by 4.5% during the 3rd quarter. Synovus Financial Corp now owns 4,179 shares of the company’s stock worth $1,210,000 after buying an additional 180 shares during the period. Wilmington Savings Fund Society FSB boosted its holdings in Snap-on by 37.0% in the third quarter. Wilmington Savings Fund Society FSB now owns 5,097 shares of the company’s stock worth $1,477,000 after acquiring an additional 1,377 shares in the last quarter. World Investment Advisors LLC acquired a new stake in Snap-on in the third quarter valued at approximately $19,291,000. Finally, Sanctuary Advisors LLC increased its holdings in shares of Snap-on by 3.6% during the third quarter. Sanctuary Advisors LLC now owns 45,783 shares of the company’s stock valued at $13,264,000 after acquiring an additional 1,605 shares in the last quarter. 84.88% of the stock is owned by institutional investors.

Snap-on Stock Performance

Shares of SNA stock opened at $337.67 on Friday. Snap-on Incorporated has a one year low of $252.98 and a one year high of $373.89. The company has a market cap of $17.73 billion, a P/E ratio of 17.38, a P/E/G ratio of 2.35 and a beta of 0.98. The firm has a 50-day moving average of $344.32 and a 200-day moving average of $298.84. The company has a debt-to-equity ratio of 0.22, a current ratio of 4.18 and a quick ratio of 3.14.

Snap-on (NYSE:SNA) last posted its quarterly earnings data on Thursday, October 17th. The company reported $4.70 EPS for the quarter, beating the consensus estimate of $4.58 by $0.12. Snap-on had a net margin of 22.13% and a return on equity of 19.44%. The firm had revenue of $1.15 billion during the quarter, compared to analyst estimates of $1.16 billion. Equities research analysts forecast that Snap-on Incorporated will post 19.05 EPS for the current fiscal 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 issued a dividend of $2.14 per share. This is a positive change from Snap-on’s previous quarterly dividend of $1.86. This represents a $8.56 dividend on an annualized basis and a yield of 2.54%. The ex-dividend date of this dividend was Thursday, November 21st. Snap-on’s dividend payout ratio (DPR) is 44.06%.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on SNA. Roth Mkm lifted their price target on shares of 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 lifted their price objective on shares of Snap-on from $336.00 to $385.00 and gave the company a “buy” rating in a report on Friday, October 25th. Barrington Research upped their target price on shares of Snap-on from $325.00 to $350.00 and gave the stock an “outperform” rating in a report on Thursday, October 17th. Robert W. Baird lifted their price target on Snap-on from $290.00 to $347.00 and gave the company a “neutral” rating in a research note on Friday, October 18th. Finally, Bank of America increased 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. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $345.40.

Insiders Place Their Bets

In related news, CEO Nicholas T. Pinchuk sold 21,783 shares of Snap-on stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $354.83, for a total value of $7,729,261.89. Following the sale, 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 position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Richard Thomas Miller sold 1,750 shares of the stock in a transaction on Friday, October 18th. The shares were sold at an average price of $330.00, for a total value of $577,500.00. Following the transaction, the vice president now directly owns 3,218 shares of the company’s stock, valued at approximately $1,061,940. This trade represents a 35.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 52,723 shares of company stock valued at $18,029,670. Insiders own 4.10% of the company’s stock.

About Snap-on

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.