State Board of Administration of Florida Retirement System Decreases Holdings in Snap-on Incorporated (NYSE:SNA)

State Board of Administration of Florida Retirement System lowered its stake in shares of Snap-on Incorporated (NYSE:SNA) by 9.0% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 55,944 shares of the company’s stock after selling 5,545 shares during the period. State Board of Administration of Florida Retirement System owned about 0.11% of Snap-on worth $16,572,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of SNA. Checchi Capital Advisers LLC increased its stake in Snap-on by 2.0% during the 4th quarter. Checchi Capital Advisers LLC now owns 1,830 shares of the company’s stock worth $529,000 after buying an additional 36 shares in the last quarter. Phillips Wealth Planners LLC boosted its stake in shares of Snap-on by 3.8% in the first quarter. Phillips Wealth Planners LLC now owns 1,012 shares of the company’s stock worth $286,000 after acquiring an additional 37 shares during the last quarter. Venturi Wealth Management LLC increased its position in shares of Snap-on by 17.2% during the fourth quarter. Venturi Wealth Management LLC now owns 272 shares of the company’s stock worth $79,000 after purchasing an additional 40 shares in the last quarter. Czech National Bank raised its stake in Snap-on by 0.4% in the 1st quarter. Czech National Bank now owns 9,286 shares of the company’s stock valued at $2,751,000 after purchasing an additional 41 shares during the last quarter. Finally, Leavell Investment Management Inc. lifted its holdings in Snap-on by 2.9% in the 1st quarter. Leavell Investment Management Inc. now owns 1,585 shares of the company’s stock valued at $470,000 after purchasing an additional 45 shares in the last quarter. Institutional investors and hedge funds own 84.88% of the company’s stock.

Insider Buying and Selling

In other Snap-on news, CEO Nicholas T. Pinchuk sold 24,220 shares of Snap-on stock in a transaction on Tuesday, June 4th. The stock was sold at an average price of $266.80, for a total value of $6,461,896.00. Following the sale, the chief executive officer now owns 750,663 shares in the company, valued at $200,276,888.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Snap-on news, CEO Nicholas T. Pinchuk sold 24,220 shares of the stock in a transaction dated 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 of the company’s stock, valued at $200,276,888.40. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Aldo John Pagliari sold 5,978 shares of the business’s stock in a transaction that occurred on Tuesday, May 21st. The shares were sold at an average price of $276.86, for a total transaction of $1,655,069.08. Following the completion of the sale, the chief financial officer now directly owns 97,699 shares in the company, valued at $27,048,945.14. The disclosure for this sale can be found here. Over the last three months, insiders sold 38,632 shares of company stock worth $10,353,409. Company insiders own 4.10% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. Barrington Research reaffirmed an “outperform” rating and set a $325.00 target price on shares of Snap-on in a report on Tuesday. Robert W. Baird dropped their price objective on shares of Snap-on from $282.00 to $275.00 and set a “neutral” rating for the company in a research note on Friday, July 12th. Finally, Roth Mkm reissued a “buy” rating and issued a $324.00 target price on shares of Snap-on in a research note on Tuesday. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $315.00.

Snap-on Trading Down 0.3 %

Shares of NYSE SNA traded down $0.69 during trading on Friday, hitting $269.85. 75,000 shares of the company were exchanged, compared to its average volume of 302,119. The company has a fifty day moving average price of $268.28 and a 200-day moving average price of $277.65. The company has a debt-to-equity ratio of 0.23, a quick ratio of 2.83 and a current ratio of 3.82. The firm has a market capitalization of $14.23 billion, a PE ratio of 14.19, a P/E/G ratio of 1.91 and a beta of 0.98. Snap-on Incorporated has a 12-month low of $249.84 and a 12-month high of $298.49.

Snap-on (NYSE:SNA) last issued its earnings results on Thursday, July 18th. The company reported $5.07 EPS for the quarter, topping analysts’ consensus estimates of $4.94 by $0.13. The company had revenue of $1.18 billion for the quarter, compared to the consensus estimate of $1.20 billion. Snap-on had a net margin of 21.69% and a return on equity of 20.46%. Snap-on’s quarterly revenue was down 1.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $4.89 earnings per share. As a group, equities research analysts expect that Snap-on Incorporated will post 19.01 EPS for the current year.

Snap-on Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 10th. Investors of record on Monday, May 20th were issued a $1.86 dividend. This represents a $7.44 dividend on an annualized basis and a yield of 2.76%. The ex-dividend date was Friday, May 17th. Snap-on’s dividend payout ratio is presently 39.03%.

Snap-on Company 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.