Kentucky Retirement Systems Sells 50 Shares of Snap-on Incorporated (NYSE:SNA)

Kentucky Retirement Systems lowered its stake in Snap-on Incorporated (NYSE:SNA) by 1.4% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,620 shares of the company’s stock after selling 50 shares during the quarter. Kentucky Retirement Systems’ holdings in Snap-on were worth $1,229,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. UMB Bank n.a. raised its holdings in shares of Snap-on by 70.5% during 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. bought a new stake in shares of Snap-on in the 4th quarter worth about $28,000. Reston Wealth Management LLC purchased a new stake in shares of Snap-on during the 3rd quarter valued at about $30,000. Brooklyn Investment Group bought a new position in shares of Snap-on in the 3rd quarter valued at about $39,000. Finally, Asset Planning Inc purchased a new position in Snap-on in the fourth quarter worth about $68,000. Institutional investors own 84.88% of the company’s stock.

Snap-on Stock Performance

Shares of Snap-on stock opened at $335.87 on Monday. The company has a market capitalization of $17.60 billion, a PE ratio of 17.22, a price-to-earnings-growth ratio of 2.21 and a beta of 0.99. The company has a quick ratio of 3.17, a current ratio of 4.15 and a debt-to-equity ratio of 0.22. Snap-on Incorporated has a 52 week low of $252.98 and a 52 week high of $373.89. The stock’s fifty day moving average is $343.79 and its two-hundred day moving average is $323.95.

Snap-on (NYSE:SNA) last announced its quarterly earnings data on Thursday, February 6th. The company reported $4.82 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.78 by $0.04. Snap-on had a return on equity of 19.20% and a net margin of 21.71%. During the same period in the previous year, the company earned $4.75 EPS. As a group, analysts expect that Snap-on Incorporated will post 19.79 earnings per share for the current year.

Snap-on Dividend Announcement

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 issued a $2.14 dividend. The ex-dividend date is Monday, February 24th. This represents a $8.56 annualized dividend and a dividend yield of 2.55%. Snap-on’s dividend payout ratio is currently 43.90%.

Insider Buying and Selling

In related news, VP June C. Lemerand sold 3,500 shares of Snap-on stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $362.86, for a total value of $1,270,010.00. Following the completion of the sale, the vice president now directly owns 2,289 shares in the company, valued at $830,586.54. This trade represents a 60.46 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Nicholas T. Pinchuk sold 21,783 shares of the company’s stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $354.83, for a total transaction of $7,729,261.89. Following the transaction, the chief executive officer now owns 769,738 shares in the company, valued at $273,126,134.54. The trade was a 2.75 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 45,503 shares of company stock valued at $15,906,074 over the last 90 days. Corporate insiders own 4.10% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Barrington Research reiterated an “outperform” rating and issued a $350.00 target price on shares of Snap-on in a report on Monday, February 10th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $345.40.

About Snap-on

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.