Kentucky Retirement Systems Insurance Trust Fund Acquires 499 Shares of Snap-on Incorporated (NYSE:SNA)

Kentucky Retirement Systems Insurance Trust Fund lifted its holdings in shares of Snap-on Incorporated (NYSE:SNA) by 32.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,059 shares of the company’s stock after acquiring an additional 499 shares during the quarter. Kentucky Retirement Systems Insurance Trust Fund’s holdings in Snap-on were worth $699,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also added to or reduced their stakes in SNA. UMB Bank n.a. raised its position in shares of Snap-on by 70.5% in the 4th quarter. UMB Bank n.a. now owns 75 shares of the company’s stock worth $25,000 after acquiring an additional 31 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in Snap-on in the fourth quarter worth $28,000. Reston Wealth Management LLC bought a new position in Snap-on in the third quarter worth $30,000. Brooklyn Investment Group purchased a new position in Snap-on during the third quarter valued at $39,000. Finally, Private Trust Co. NA boosted its holdings in shares of 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 buying an additional 60 shares in the last quarter. Institutional investors own 84.88% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on SNA. Tigress Financial lifted their price target on shares of Snap-on from $336.00 to $385.00 and gave the company a “buy” rating in a research report on Friday, October 25th. Barrington Research reaffirmed an “outperform” rating and set a $350.00 target price on shares of Snap-on in a research note on Monday, February 10th. 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 company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $345.40.

Insider Activity

In other Snap-on news, VP June C. Lemerand sold 3,500 shares of the company’s stock in a transaction dated 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 transaction, the vice president now owns 2,289 shares in the company, valued at approximately $830,586.54. This represents a 60.46 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Nicholas T. Pinchuk sold 21,783 shares of Snap-on stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $354.83, for a total transaction of $7,729,261.89. Following the completion of the sale, the chief executive officer now owns 769,738 shares of the company’s stock, valued at $273,126,134.54. This represents a 2.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 38,643 shares of company stock valued at $13,580,191 over the last ninety days. 4.10% of the stock is currently owned by corporate insiders.

Snap-on Stock Performance

Shares of SNA stock opened at $341.91 on Thursday. The company has a market capitalization of $17.91 billion, a price-to-earnings ratio of 17.53, a price-to-earnings-growth ratio of 2.21 and a beta of 0.99. The company has a debt-to-equity ratio of 0.22, a quick ratio of 3.17 and a current ratio of 4.15. Snap-on Incorporated has a one year low of $252.98 and a one year high of $373.89. The company’s 50-day moving average is $344.52 and its 200 day moving average is $322.65.

Snap-on (NYSE:SNA) last posted its quarterly earnings results on Thursday, February 6th. The company reported $4.82 EPS for the quarter, beating 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 quarter in the previous year, the business earned $4.75 EPS. Sell-side analysts expect that Snap-on Incorporated will post 19.79 EPS for the current fiscal year.

Snap-on Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Stockholders of record on Monday, February 24th will be paid a $2.14 dividend. This represents a $8.56 annualized dividend and a dividend yield of 2.50%. The ex-dividend date of this dividend is Monday, February 24th. Snap-on’s dividend payout ratio is currently 43.90%.

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.