Snap-on Incorporated (NYSE:SNA) Shares Sold by New Mexico Educational Retirement Board

New Mexico Educational Retirement Board cut its holdings in Snap-on Incorporated (NYSE:SNA) by 3.9% in the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 2,496 shares of the company’s stock after selling 100 shares during the period. New Mexico Educational Retirement Board’s holdings in Snap-on were worth $847,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of SNA. UMB Bank n.a. raised its holdings in Snap-on by 70.5% in the 4th quarter. UMB Bank n.a. now owns 75 shares of the company’s stock valued at $25,000 after acquiring an additional 31 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. acquired a new position in Snap-on in the 4th quarter valued at $28,000. Reston Wealth Management LLC acquired a new position in Snap-on in the 3rd quarter valued at $30,000. Brooklyn Investment Group acquired a new position in Snap-on in the 3rd quarter valued at $39,000. Finally, nVerses Capital LLC acquired a new position in Snap-on in the 3rd quarter valued at $58,000. 84.88% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the stock. Roth Mkm boosted their price objective on shares of Snap-on from $324.00 to $365.00 and gave the company a “buy” rating in a research note on Tuesday, October 22nd. Barrington Research reissued an “outperform” rating and set a $350.00 price objective on shares of Snap-on in a research note on Monday, February 10th. Finally, Tigress Financial boosted their price objective on shares of Snap-on from $336.00 to $385.00 and gave the company a “buy” rating in a research note on Friday, October 25th. One analyst has rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $345.40.

Snap-on Stock Down 0.2 %

Shares of Snap-on stock opened at $339.12 on Tuesday. The company has a fifty day moving average price of $345.04 and a 200 day moving average price of $322.05. The company has a current ratio of 4.15, a quick ratio of 3.14 and a debt-to-equity ratio of 0.22. Snap-on Incorporated has a twelve month low of $252.98 and a twelve month high of $373.89. The stock has a market cap of $17.81 billion, a price-to-earnings ratio of 17.39, a price-to-earnings-growth ratio of 2.13 and a beta of 0.99.

Snap-on (NYSE:SNA) last announced its quarterly earnings results on Thursday, February 6th. The company reported $4.82 earnings per share for the quarter, topping analysts’ consensus estimates of $4.78 by $0.04. Snap-on had a net margin of 21.71% and a return on equity of 19.20%. During the same quarter in the previous year, the business posted $4.75 earnings per share. Equities research analysts forecast that Snap-on Incorporated will post 20.07 earnings per share for the current fiscal year.

Snap-on Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Monday, February 24th will be issued a $2.14 dividend. The ex-dividend date of this dividend is Monday, February 24th. This represents a $8.56 dividend on an annualized basis and a yield of 2.52%. Snap-on’s dividend payout ratio is currently 43.90%.

Insiders Place Their Bets

In other news, VP June C. Lemerand sold 3,500 shares of the company’s stock in a transaction dated 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 sale, the vice president now owns 2,289 shares in the company, valued at approximately $830,586.54. This represents a 60.46 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Nicholas T. Pinchuk sold 21,783 shares of the company’s stock in a transaction dated 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 completion of the sale, the chief executive officer now owns 769,738 shares in the company, valued at approximately $273,126,134.54. This trade represents a 2.75 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 38,643 shares of company stock worth $13,580,191 in the last quarter. 4.10% of the stock is 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.