Teachers Retirement System of The State of Kentucky Sells 228 Shares of Snap-on Incorporated (NYSE:SNA)

Teachers Retirement System of The State of Kentucky reduced its stake in Snap-on Incorporated (NYSE:SNA) by 4.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,554 shares of the company’s stock after selling 228 shares during the period. Teachers Retirement System of The State of Kentucky’s holdings in Snap-on were worth $1,315,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. BKM Wealth Management LLC bought a new position in shares of Snap-on in the 4th quarter worth approximately $33,000. Exchange Traded Concepts LLC bought a new stake in shares of Snap-on during the fourth quarter valued at approximately $43,000. Itau Unibanco Holding S.A. purchased a new stake in Snap-on in the third quarter worth $49,000. Orion Capital Management LLC bought a new position in Snap-on in the third quarter worth $49,000. Finally, Fortitude Family Office LLC purchased a new position in Snap-on during the fourth quarter valued at $49,000. 84.88% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

SNA has been the subject of several research reports. Roth Mkm reiterated a “buy” rating and issued a $324.00 price target on shares of Snap-on in a research note on Thursday, April 18th. Barrington Research reaffirmed an “outperform” rating and set a $325.00 target price on shares of Snap-on in a research note on Wednesday, May 22nd. Finally, Robert W. Baird lowered their target price on shares of Snap-on from $295.00 to $282.00 and set a “neutral” rating for the company in a report on Friday, April 19th. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, Snap-on has an average rating of “Moderate Buy” and an average target price of $316.75.

Insider Activity

In related news, VP Richard Thomas Miller sold 704 shares of Snap-on stock in a transaction dated Thursday, March 28th. The stock was sold at an average price of $298.16, for a total value of $209,904.64. Following the completion of the sale, the vice president now directly owns 3,213 shares in the company, valued at approximately $957,988.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, CEO Nicholas T. Pinchuk sold 24,220 shares of the firm’s 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 transaction, the chief executive officer now directly owns 750,663 shares in the company, valued at approximately $200,276,888.40. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, VP Richard Thomas Miller sold 704 shares of the company’s stock in a transaction on Thursday, March 28th. The shares were sold at an average price of $298.16, for a total value of $209,904.64. Following the sale, the vice president now owns 3,213 shares of the company’s stock, valued at approximately $957,988.08. The disclosure for this sale can be found here. Insiders have sold a total of 39,336 shares of company stock valued at $10,563,314 over the last ninety days. 4.10% of the stock is currently owned by corporate insiders.

Snap-on Stock Performance

Shares of Snap-on stock opened at $266.75 on Monday. Snap-on Incorporated has a 1 year low of $249.84 and a 1 year high of $298.49. The firm’s 50-day moving average is $272.01 and its 200 day moving average is $280.55. The stock has a market cap of $14.06 billion, a price-to-earnings ratio of 14.00, a PEG ratio of 1.86 and a beta of 0.99. The company has a debt-to-equity ratio of 0.23, a current ratio of 3.82 and a quick ratio of 2.83.

Snap-on (NYSE:SNA) last posted its quarterly earnings results on Thursday, April 18th. The company reported $4.75 EPS for the quarter, beating analysts’ consensus estimates of $4.66 by $0.09. The firm had revenue of $1.18 billion for the quarter, compared to analysts’ expectations of $1.20 billion. Snap-on had a net margin of 21.69% and a return on equity of 20.46%. The business’s revenue for the quarter was down .1% on a year-over-year basis. During the same quarter in the prior year, the company posted $4.60 earnings per share. Sell-side analysts anticipate that Snap-on Incorporated will post 19.01 EPS for the current fiscal year.

Snap-on Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 10th. Stockholders of record on Monday, May 20th were paid a $1.86 dividend. This represents a $7.44 annualized dividend and a dividend yield of 2.79%. The ex-dividend date of this dividend was Friday, May 17th. Snap-on’s dividend payout ratio is currently 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.