4,801 Shares in Snap-On Incorporated $SNA Acquired by Kentucky Retirement Systems

Kentucky Retirement Systems acquired a new position in shares of Snap-On Incorporated (NYSE:SNA) during the 1st quarter, HoldingsChannel.com reports. The institutional investor acquired 4,801 shares of the company’s stock, valued at approximately $1,744,000.

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

Analyst Ratings Changes

A number of equities analysts have recently weighed in on SNA shares. Barclays assumed coverage on Snap-On in a report on Thursday, May 28th. They issued an “overweight” rating and a $420.00 target price on the stock. Robert W. Baird set a $415.00 price objective on shares of Snap-On in a research report on Friday, July 24th. Roth Capital reiterated a “buy” rating and issued a $461.00 price objective (up from $409.00) on shares of Snap-On in a research note on Friday, July 24th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Snap-On in a research report on Friday, July 17th. Five equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $418.20.

Snap-On Stock Performance

Shares of NYSE SNA opened at $409.66 on Friday. The business’s 50-day moving average price is $393.64 and its two-hundred day moving average price is $380.10. The company has a debt-to-equity ratio of 0.15, a current ratio of 3.43 and a quick ratio of 2.64. Snap-On Incorporated has a one year low of $312.78 and a one year high of $420.91. The company has a market capitalization of $21.19 billion, a P/E ratio of 20.89, a price-to-earnings-growth ratio of 2.92 and a beta of 0.73.

Snap-On (NYSE:SNA) last posted its quarterly earnings results on Thursday, July 23rd. The company reported $4.96 earnings per share for the quarter, topping analysts’ consensus estimates of $4.95 by $0.01. The company had revenue of $1.24 billion during the quarter, compared to the consensus estimate of $1.22 billion. Snap-On had a return on equity of 17.07% and a net margin of 21.25%.The business’s quarterly revenue was up 4.7% on a year-over-year basis. During the same period last year, the business earned $4.72 EPS. Analysts anticipate that Snap-On Incorporated will post 19.7 earnings per share for the current fiscal year.

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

Insiders Place Their Bets

In other Snap-On news, SVP Jesus Arregui sold 4,251 shares of Snap-On stock in a transaction that occurred 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 in the company, valued at $1,704,220.88. The trade was a 48.92% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Aldo John Pagliari sold 1,330 shares of Snap-On stock in a transaction that occurred on Thursday, June 4th. The shares were sold at an average price of $379.27, for a total transaction of $504,429.10. Following the completion of the sale, the chief financial officer owned 118,158 shares of the company’s stock, valued at $44,813,784.66. This trade represents a 1.11% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 46,617 shares of company stock worth $17,987,869 in the last quarter. Corporate insiders own 3.80% of the company’s stock.

Snap-On Profile

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.