Louisiana State Employees Retirement System Reduces Stock Position in Snap-on Incorporated (NYSE:SNA)

Louisiana State Employees Retirement System lessened its holdings in Snap-on Incorporated (NYSE:SNA) by 6.7% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,800 shares of the company’s stock after selling 200 shares during the quarter. Louisiana State Employees Retirement System’s holdings in Snap-on were worth $951,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the business. Wingate Wealth Advisors Inc. purchased a new position in shares of Snap-on during the fourth quarter worth about $86,000. Savant Capital LLC grew its holdings in shares of Snap-on by 13.4% during the fourth quarter. Savant Capital LLC now owns 1,748 shares of the company’s stock worth $593,000 after purchasing an additional 206 shares during the last quarter. Kestra Private Wealth Services LLC grew its holdings in shares of Snap-on by 11.2% during the fourth quarter. Kestra Private Wealth Services LLC now owns 3,349 shares of the company’s stock worth $1,137,000 after purchasing an additional 336 shares during the last quarter. Northeast Investment Management purchased a new position in shares of Snap-on during the fourth quarter worth about $212,000. Finally, WCM Investment Management LLC grew its holdings in shares of Snap-on by 4.5% during the fourth quarter. WCM Investment Management LLC now owns 727 shares of the company’s stock worth $247,000 after purchasing an additional 31 shares during the last quarter. Hedge funds and other institutional investors own 84.88% of the company’s stock.

Insider Activity at Snap-on

In related news, VP June C. Lemerand sold 3,500 shares of the firm’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 completion of the sale, the vice president now owns 2,289 shares in the company, valued at $830,586.54. This trade represents a 60.46 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Nicholas T. Pinchuk sold 21,783 shares of the 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 transaction, the chief executive officer now directly owns 769,738 shares of the company’s stock, valued at approximately $273,126,134.54. This trade represents a 2.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 38,643 shares of company stock worth $13,580,191 over the last 90 days. Company insiders own 4.10% of the company’s stock.

Snap-on Price Performance

Shares of SNA opened at $339.12 on Tuesday. Snap-on Incorporated has a fifty-two week low of $252.98 and a fifty-two week high of $373.89. The company has a market capitalization 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. The firm has a 50-day simple moving average of $345.04 and a 200-day simple moving average of $322.05. The company has a debt-to-equity ratio of 0.22, a quick ratio of 3.14 and a current ratio of 4.15.

Snap-on (NYSE:SNA) last announced its earnings results on Thursday, February 6th. The company reported $4.82 earnings per share for the quarter, topping the consensus estimate 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 prior year, the business earned $4.75 earnings per share. On average, equities research analysts anticipate that Snap-on Incorporated will post 20.07 earnings per share for the current year.

Snap-on Dividend Announcement

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

Analysts Set New Price Targets

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

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.