Snap-on Incorporated (NYSE:SNA) Shares Sold by Kentucky Retirement Systems Insurance Trust Fund

Kentucky Retirement Systems Insurance Trust Fund decreased its stake in Snap-on Incorporated (NYSE:SNA) by 7.3% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,742 shares of the company’s stock after selling 138 shares during the quarter. Kentucky Retirement Systems Insurance Trust Fund’s holdings in Snap-on were worth $516,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Confluence Investment Management LLC purchased a new position in shares of Snap-on in the first quarter worth about $173,451,000. Norges Bank purchased a new position in shares of Snap-on in the fourth quarter worth about $145,665,000. Mawer Investment Management Ltd. purchased a new position in shares of Snap-on in the first quarter worth about $55,954,000. Benjamin F. Edwards & Company Inc. raised its stake in Snap-on by 1,416.5% during the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 147,657 shares of the company’s stock worth $42,649,000 after purchasing an additional 137,920 shares during the period. Finally, International Assets Investment Management LLC raised its stake in Snap-on by 31,080.3% during the fourth quarter. International Assets Investment Management LLC now owns 74,521 shares of the company’s stock worth $21,525,000 after purchasing an additional 74,282 shares during the period. Institutional investors and hedge funds own 84.88% of the company’s stock.

Snap-on Stock Up 2.6 %

Shares of SNA stock traded up $7.19 during trading on Friday, reaching $280.66. The company’s stock had a trading volume of 258,932 shares, compared to its average volume of 348,910. The company has a debt-to-equity ratio of 0.22, a current ratio of 4.06 and a quick ratio of 3.05. The company has a market capitalization of $14.79 billion, a price-to-earnings ratio of 14.73, a P/E/G ratio of 1.94 and a beta of 0.98. The stock’s 50-day moving average price is $267.66 and its 200 day moving average price is $277.16. Snap-on Incorporated has a 1-year low of $249.84 and a 1-year high of $298.49.

Snap-on (NYSE:SNA) last announced its quarterly earnings data on Thursday, July 18th. The company reported $5.07 earnings per share for the quarter, beating analysts’ consensus estimates of $4.94 by $0.13. The firm had revenue of $1.18 billion during the quarter, compared to analysts’ expectations of $1.20 billion. Snap-on had a net margin of 21.90% and a return on equity of 19.90%. The business’s quarterly revenue was down 1.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $4.89 earnings per share. On average, research analysts anticipate that Snap-on Incorporated will post 18.97 EPS for the current year.

Insider Activity at Snap-on

In other Snap-on news, CEO Nicholas T. Pinchuk sold 24,220 shares of the business’s stock in a transaction that occurred on Tuesday, June 4th. The shares were sold at an average price of $266.80, for a total transaction of $6,461,896.00. Following the completion of the transaction, the chief executive officer now owns 750,663 shares in the company, valued at approximately $200,276,888.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other Snap-on news, CEO Nicholas T. Pinchuk sold 24,220 shares of the business’s stock in a transaction that occurred on Tuesday, June 4th. The shares were sold at an average price of $266.80, for a total transaction of $6,461,896.00. Following the completion of the transaction, the chief executive officer now owns 750,663 shares in the company, valued at approximately $200,276,888.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Jesus Arregui sold 8,434 shares of the business’s stock in a transaction that occurred on Wednesday, May 29th. The stock was sold at an average price of $265.17, for a total transaction of $2,236,443.78. Following the transaction, the senior vice president now owns 252 shares of the company’s stock, valued at approximately $66,822.84. The disclosure for this sale can be found here. Over the last quarter, insiders sold 38,632 shares of company stock worth $10,353,409. Corporate insiders own 4.10% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have commented on SNA. Tigress Financial reaffirmed a “buy” rating and set a $336.00 target price on shares of Snap-on in a research note on Thursday. Roth Mkm reaffirmed a “buy” rating and set a $324.00 target price on shares of Snap-on in a research note on Tuesday, July 16th. Robert W. Baird reduced their target price on shares of Snap-on from $282.00 to $275.00 and set a “neutral” rating on the stock in a research note on Friday, July 12th. Finally, Barrington Research reaffirmed an “outperform” rating and set a $325.00 target price on shares of Snap-on in a research note on Tuesday, July 16th. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $315.00.

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.