Kentucky Retirement Systems Insurance Trust Fund Acquires 499 Shares of Snap-on Incorporated (NYSE:SNA)

Kentucky Retirement Systems Insurance Trust Fund grew its holdings in Snap-on Incorporated (NYSE:SNA) by 32.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,059 shares of the company’s stock after acquiring an additional 499 shares during the period. Kentucky Retirement Systems Insurance Trust Fund’s holdings in Snap-on were worth $699,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. UMB Bank n.a. increased its stake in shares of Snap-on by 70.5% in the 4th quarter. UMB Bank n.a. now owns 75 shares of the company’s stock worth $25,000 after purchasing an additional 31 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in Snap-on in the fourth quarter worth about $28,000. Reston Wealth Management LLC bought a new position in shares of Snap-on in the third quarter worth about $30,000. Brooklyn Investment Group purchased a new position in shares of Snap-on during the 3rd quarter valued at about $39,000. Finally, Private Trust Co. NA grew its stake in shares of Snap-on by 38.2% during the 3rd quarter. Private Trust Co. NA now owns 217 shares of the company’s stock valued at $63,000 after acquiring an additional 60 shares during the period. Hedge funds and other institutional investors own 84.88% of the company’s stock.

Snap-on Trading Down 0.3 %

Snap-on stock opened at $341.91 on Thursday. Snap-on Incorporated has a 1 year low of $252.98 and a 1 year high of $373.89. The firm’s 50 day moving average price is $344.52 and its 200-day moving average price is $322.65. The company has a debt-to-equity ratio of 0.22, a current ratio of 4.15 and a quick ratio of 3.17. The stock has a market cap of $17.91 billion, a P/E ratio of 17.53, a PEG ratio of 2.21 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 (EPS) for the quarter, beating 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 period in the prior year, the company posted $4.75 EPS. On average, equities analysts predict that Snap-on Incorporated will post 19.79 earnings per share for the current fiscal year.

Snap-on Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Monday, February 24th will be paid a dividend of $2.14 per share. This represents a $8.56 dividend on an annualized basis and a yield of 2.50%. The ex-dividend date is Monday, February 24th. Snap-on’s payout ratio is presently 43.90%.

Analysts Set New Price Targets

Several equities analysts have weighed in on SNA shares. Tigress Financial lifted their price target on shares of Snap-on from $336.00 to $385.00 and gave the company a “buy” rating in a report on Friday, October 25th. Barrington Research restated an “outperform” rating and set a $350.00 target price on shares of Snap-on in a research note on Monday, February 10th. One research analyst has rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $345.40.

Insider Buying and Selling at Snap-on

In related news, CEO Nicholas T. Pinchuk sold 21,783 shares of the company’s stock in a transaction 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 sale, the chief executive officer now owns 769,738 shares of the company’s stock, valued at $273,126,134.54. This represents a 2.75 % 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 6,451 shares of Snap-on stock in a transaction on Monday, February 10th. The stock was sold at an average price of $337.81, for a total transaction of $2,179,212.31. Following the completion of the transaction, the senior vice president now directly owns 257 shares of the company’s stock, valued at $86,817.17. The trade was a 96.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders 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 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.