Louisiana State Employees Retirement System Purchases New Position in Snap-On Incorporated $SNA

Louisiana State Employees Retirement System purchased a new stake in Snap-On Incorporated (NYSE:SNA) during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 2,600 shares of the company’s stock, valued at approximately $944,000.

Other hedge funds have also recently bought and sold shares of the company. Kennebec Savings Bank grew its holdings in shares of Snap-On by 3.6% in the 4th quarter. Kennebec Savings Bank now owns 783 shares of the company’s stock worth $270,000 after purchasing an additional 27 shares during the last quarter. Annis Gardner Whiting Capital Advisors LLC lifted its holdings in Snap-On by 36.4% during the 4th quarter. Annis Gardner Whiting Capital Advisors LLC now owns 105 shares of the company’s stock valued at $36,000 after purchasing an additional 28 shares during the last quarter. Verition Fund Management LLC lifted its holdings in Snap-On by 1.5% during the 4th quarter. Verition Fund Management LLC now owns 1,844 shares of the company’s stock valued at $635,000 after purchasing an additional 28 shares during the last quarter. CWM LLC boosted its position in Snap-On by 0.6% in the fourth quarter. CWM LLC now owns 5,517 shares of the company’s stock valued at $1,901,000 after buying an additional 31 shares in the last quarter. Finally, Ritholtz Wealth Management grew its stake in Snap-On by 2.5% during the fourth quarter. Ritholtz Wealth Management now owns 1,401 shares of the company’s stock worth $483,000 after buying an additional 34 shares during the last quarter. 84.88% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on SNA shares. Roth Mkm reaffirmed a “buy” rating and set a $431.00 price objective on shares of Snap-On in a report on Friday, April 24th. Robert W. Baird increased their price target on Snap-On from $380.00 to $395.00 and gave the stock a “neutral” rating in a research report on Friday, April 24th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Snap-On in a report on Monday, April 20th. Finally, Barclays initiated coverage on Snap-On in a research report on Thursday, May 28th. They issued an “overweight” rating and a $420.00 price objective for the company. Five equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $387.67.

Snap-On Trading Down 0.0%

SNA opened at $412.09 on Monday. Snap-On Incorporated has a 1-year low of $310.23 and a 1-year high of $412.33. The stock has a market capitalization of $21.35 billion, a PE ratio of 21.27, a PEG ratio of 2.90 and a beta of 0.73. The company has a current ratio of 3.53, a quick ratio of 2.74 and a debt-to-equity ratio of 0.15. The firm has a 50-day moving average price of $380.65 and a two-hundred day moving average price of $372.67.

Snap-On (NYSE:SNA) last announced its earnings results on Thursday, April 23rd. The company reported $4.69 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.75 by ($0.06). Snap-On had a return on equity of 17.13% and a net margin of 21.28%.The company had revenue of $1.21 billion for the quarter, compared to analyst estimates of $1.19 billion. During the same quarter in the previous year, the company posted $4.51 earnings per share. Snap-On’s revenue for the quarter was up 5.8% on a year-over-year basis. As a group, equities analysts anticipate that Snap-On Incorporated will post 19.7 earnings per share for the current fiscal year.

Snap-On Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 10th. Shareholders of record on Wednesday, May 20th were issued a dividend of $2.44 per share. The ex-dividend date of this dividend was Wednesday, May 20th. This represents a $9.76 annualized dividend and a yield of 2.4%. Snap-On’s dividend payout ratio is currently 50.39%.

Snap-On declared that its Board of Directors has initiated a stock repurchase plan on Thursday, April 30th that allows the company to repurchase $500.00 million in outstanding shares. This repurchase authorization allows the company to buy up to 2.5% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s management believes its shares are undervalued.

Insider Transactions at Snap-On

In other news, CFO Aldo John Pagliari sold 5,713 shares of Snap-On stock in a transaction on Thursday, May 14th. The stock was sold at an average price of $367.19, for a total value of $2,097,756.47. Following the completion of the sale, the chief financial officer directly owned 119,488 shares of the company’s stock, valued at approximately $43,874,798.72. This trade represents a 4.56% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Jesus Arregui sold 4,251 shares of Snap-On stock in a transaction on Wednesday, June 10th. The shares were sold at an average price of $383.92, for a total value of $1,632,043.92. Following the completion of the sale, the senior vice president directly owned 4,439 shares of the company’s stock, valued at $1,704,220.88. This trade represents a 48.92% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 37,117 shares of company stock valued at $14,003,922 over the last 90 days. 3.80% of the stock is currently owned by corporate insiders.

About Snap-On

Snap‑On Incorporated (NYSE: SNA) is a designer, manufacturer and marketer of tools, diagnostic equipment, repair information and shop equipment for professional users. The company’s product range includes hand and power tools, tool storage and cabinets, diagnostic scan tools and software, shop equipment such as lifts and tire changers, and specialized specialty tools for automotive, aviation, marine and industrial applications. Snap‑On also offers information and workflow solutions that combine diagnostic data, repair procedures and parts information to support professional technicians.

Founded in 1920 and headquartered in Kenosha, Wisconsin, Snap‑On has established a long history in the professional tools market.