Illinois Municipal Retirement Fund Boosts Stock Position in Snap-On Incorporated $SNA

Illinois Municipal Retirement Fund increased its stake in shares of Snap-On Incorporated (NYSE:SNA) by 20.4% in the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 47,229 shares of the company’s stock after buying an additional 8,017 shares during the period. Illinois Municipal Retirement Fund’s holdings in Snap-On were worth $16,366,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in SNA. Vanguard Group Inc. boosted its position in Snap-On by 1.3% during the second quarter. Vanguard Group Inc. now owns 6,495,475 shares of the company’s stock worth $2,021,262,000 after purchasing an additional 80,422 shares during the period. State Street Corp increased its stake in Snap-On by 0.6% in the 2nd quarter. State Street Corp now owns 2,207,840 shares of the company’s stock worth $687,036,000 after acquiring an additional 12,184 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Snap-On by 1.9% in the second quarter. Charles Schwab Investment Management Inc. now owns 1,958,005 shares of the company’s stock worth $609,292,000 after purchasing an additional 36,421 shares during the last quarter. First Trust Advisors LP raised its stake in Snap-On by 40.7% in the second quarter. First Trust Advisors LP now owns 1,892,708 shares of the company’s stock valued at $588,973,000 after purchasing an additional 547,527 shares in the last quarter. Finally, Nordea Investment Management AB lifted its holdings in shares of Snap-On by 3.0% during the 3rd quarter. Nordea Investment Management AB now owns 1,258,712 shares of the company’s stock worth $433,601,000 after acquiring an additional 36,964 shares during the last quarter. Institutional investors own 84.88% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on SNA shares. Barrington Research reaffirmed an “outperform” rating and set a $350.00 price objective on shares of Snap-On in a research note on Wednesday, October 15th. Wall Street Zen lowered shares of Snap-On from a “buy” rating to a “hold” rating in a report on Saturday, February 7th. Roth Mkm reiterated a “buy” rating and issued a $409.00 price target (up from $385.00) on shares of Snap-On in a research note on Tuesday. Tigress Financial boosted their target price on Snap-On from $395.00 to $405.00 and gave the stock a “buy” rating in a report on Tuesday, October 21st. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Snap-On in a research report on Wednesday, January 21st. Five investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $370.67.

Insider Buying and Selling at Snap-On

In related news, CFO Aldo John Pagliari sold 6,779 shares of the company’s stock in a transaction on Thursday, December 11th. The shares were sold at an average price of $352.20, for a total transaction of $2,387,563.80. Following the sale, the chief financial officer owned 111,888 shares of the company’s stock, valued at $39,406,953.60. This represents a 5.71% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Jesus Arregui sold 3,831 shares of Snap-On stock in a transaction on Tuesday, November 25th. The stock was sold at an average price of $337.28, for a total transaction of $1,292,119.68. Following the completion of the transaction, the senior vice president directly owned 2,642 shares of the company’s stock, valued at $891,093.76. The trade was a 59.18% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 48,036 shares of company stock worth $16,792,028 over the last three months. 3.90% of the stock is owned by company insiders.

Snap-On Stock Up 1.5%

SNA opened at $383.26 on Thursday. The company has a debt-to-equity ratio of 0.20, a quick ratio of 3.68 and a current ratio of 4.79. Snap-On Incorporated has a fifty-two week low of $289.81 and a fifty-two week high of $388.96. The firm’s fifty day moving average is $359.02 and its 200 day moving average is $342.68. The stock has a market cap of $19.93 billion, a price-to-earnings ratio of 19.97, a price-to-earnings-growth ratio of 2.59 and a beta of 0.81.

Snap-On (NYSE:SNA) last issued its earnings results on Thursday, February 5th. The company reported $4.94 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.86 by $0.08. The company had revenue of $1.23 billion for the quarter, compared to the consensus estimate of $1.24 billion. Snap-On had a return on equity of 17.34% and a net margin of 21.44%.The firm’s quarterly revenue was up 2.8% on a year-over-year basis. During the same quarter last year, the company earned $4.82 EPS. On average, sell-side analysts forecast that Snap-On Incorporated will post 19.79 earnings per share for the current fiscal year.

Snap-On Company Profile

Snap‑On Incorporated (NYSE: SNA) is a designer, manufacturer and marketer of tools, diagnostic equipment, repair information and shop equipment for professional users. The company’s product range includes hand and power tools, tool storage and cabinets, diagnostic scan tools and software, shop equipment such as lifts and tire changers, and specialized specialty tools for automotive, aviation, marine and industrial applications. Snap‑On also offers information and workflow solutions that combine diagnostic data, repair procedures and parts information to support professional technicians.

Founded in 1920 and headquartered in Kenosha, Wisconsin, Snap‑On has established a long history in the professional tools market.