New York State Common Retirement Fund Lowers Stake in Snap-on Incorporated (NYSE:SNA)

New York State Common Retirement Fund cut its holdings in shares of Snap-on Incorporated (NYSE:SNA) by 11.9% during the fourth quarter, HoldingsChannel.com reports. The firm owned 141,236 shares of the company’s stock after selling 18,987 shares during the period. New York State Common Retirement Fund’s holdings in Snap-on were worth $40,795,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. BKM Wealth Management LLC acquired a new position in shares of Snap-on during the fourth quarter worth $33,000. Exchange Traded Concepts LLC acquired a new position in shares of Snap-on during the fourth quarter worth $43,000. Peoples Bank KS acquired a new position in shares of Snap-on during the third quarter worth $40,000. Fortitude Family Office LLC acquired a new position in shares of Snap-on during the fourth quarter worth $49,000. Finally, Bruce G. Allen Investments LLC acquired a new position in shares of Snap-on during the fourth quarter worth $53,000. 84.88% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on SNA shares. Barrington Research reaffirmed an “outperform” rating and set a $325.00 price target on shares of Snap-on in a research report on Monday, April 15th. Roth Mkm reissued a “buy” rating and issued a $324.00 target price on shares of Snap-on in a research report on Thursday, April 18th. Robert W. Baird cut their target price on Snap-on from $295.00 to $282.00 and set a “neutral” rating on the stock in a research report on Friday, April 19th. Finally, Tigress Financial reissued a “buy” rating and issued a $336.00 target price on shares of Snap-on in a research report on Friday, February 16th. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $316.75.

Snap-on Price Performance

Shares of SNA opened at $273.59 on Thursday. The business’s 50-day moving average is $283.98 and its two-hundred day moving average is $278.76. The company has a market capitalization of $14.42 billion, a P/E ratio of 14.35, a P/E/G ratio of 1.87 and a beta of 0.99. The company has a debt-to-equity ratio of 0.23, a quick ratio of 2.83 and a current ratio of 3.82. Snap-on Incorporated has a fifty-two week low of $247.68 and a fifty-two week high of $298.49.

Snap-on (NYSE:SNA) last announced its quarterly earnings results on Thursday, April 18th. The company reported $4.75 earnings per share for the quarter, topping the consensus estimate of $4.66 by $0.09. The company had revenue of $1.18 billion for the quarter, compared to the consensus estimate of $1.20 billion. Snap-on had a return on equity of 20.46% and a net margin of 21.69%. The firm’s revenue for the quarter was down .1% compared to the same quarter last year. During the same period last year, the firm earned $4.60 EPS. Research analysts predict that Snap-on Incorporated will post 19.04 earnings per share for the current year.

Snap-on Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 11th. Stockholders of record on Monday, February 26th were paid a dividend of $1.86 per share. This represents a $7.44 annualized dividend and a dividend yield of 2.72%. The ex-dividend date of this dividend was Friday, February 23rd. Snap-on’s payout ratio is currently 39.03%.

Insider Transactions at Snap-on

In related news, VP Richard Thomas Miller sold 704 shares of the firm’s stock in a transaction dated Thursday, March 28th. The shares were sold at an average price of $298.16, for a total value of $209,904.64. Following the transaction, the vice president now directly owns 3,213 shares of the company’s stock, valued at approximately $957,988.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, CFO Aldo John Pagliari sold 7,522 shares of the firm’s stock in a transaction dated Tuesday, February 27th. The shares were sold at an average price of $271.94, for a total value of $2,045,532.68. Following the transaction, the chief financial officer now directly owns 95,661 shares of the company’s stock, valued at approximately $26,014,052.34. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, VP Richard Thomas Miller sold 704 shares of the stock in a transaction dated Thursday, March 28th. The shares were sold at an average price of $298.16, for a total transaction of $209,904.64. Following the completion of the sale, the vice president now owns 3,213 shares of the company’s stock, valued at approximately $957,988.08. The disclosure for this sale can be found here. Insiders have sold a total of 47,368 shares of company stock valued at $13,399,449 in the last ninety days. 4.10% of the stock is currently owned by corporate insiders.

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.