Snap-On Incorporated $SNA Shares Purchased by Illinois Municipal Retirement Fund

Illinois Municipal Retirement Fund boosted its stake in Snap-On Incorporated (NYSE:SNA) by 4.1% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 51,730 shares of the company’s stock after purchasing an additional 2,025 shares during the period. Illinois Municipal Retirement Fund’s holdings in Snap-On were worth $18,796,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in SNA. Western Wealth Management LLC acquired a new stake in Snap-On during the 1st quarter worth approximately $29,000. Independence Bank of Kentucky acquired a new position in shares of Snap-On in the third quarter valued at approximately $29,000. Gen Wealth Partners Inc acquired a new position in shares of Snap-On in the third quarter valued at approximately $30,000. Entrust Financial LLC increased its holdings in shares of Snap-On by 41.2% in the third quarter. Entrust Financial LLC now owns 96 shares of the company’s stock valued at $35,000 after purchasing an additional 28 shares during the period. Finally, Keating Financial Advisory Services Inc. purchased a new stake in shares of Snap-On during the second quarter worth approximately $45,000. 84.88% of the stock is owned by hedge funds and other institutional investors.

Snap-On Price Performance

Shares of NYSE:SNA opened at $373.30 on Wednesday. Snap-On Incorporated has a 52 week low of $320.80 and a 52 week high of $423.02. The company has a 50-day moving average price of $368.13 and a 200 day moving average price of $380.27. The company has a market cap of $19.25 billion, a P/E ratio of 19.41, a PEG ratio of 2.66 and a beta of 0.75. The company has a quick ratio of 2.71, a current ratio of 3.55 and a debt-to-equity ratio of 0.14.

Snap-On (NYSE:SNA) last released its earnings results on Thursday, October 22nd. The company reported $4.64 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.93 by ($0.29). The business had revenue of $1.18 billion for the quarter, compared to analyst estimates of $1.24 billion. Snap-On had a return on equity of 16.77% and a net margin of 20.82%. The business’s revenue for the quarter was down .6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $4.71 EPS. Research analysts predict that Snap-On Incorporated will post 19.24 earnings per share for the current year.

Snap-On Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 10th. Stockholders of record on Friday, November 20th will be issued a $2.75 dividend. The ex-dividend date of this dividend is Friday, November 20th. This represents a $11.00 annualized dividend and a dividend yield of 2.9%. This is an increase from Snap-On’s previous quarterly dividend of $2.44. Snap-On’s payout ratio is 50.75%.

Insider Activity at Snap-On

In related news, CEO Nicholas Pinchuk sold 22,889 shares of Snap-On stock in a transaction that occurred on Tuesday, August 18th. The stock was sold at an average price of $399.69, for a total value of $9,148,504.41. Following the sale, the chief executive officer directly owned 867,779 shares in the company, valued at $346,842,588.51. The trade was a 2.57% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Marty V. Ozolins sold 800 shares of the company’s stock in a transaction on Wednesday, August 26th. The stock was sold at an average price of $400.00, for a total value of $320,000.00. Following the transaction, the vice president directly owned 1,526 shares in the company, valued at $610,400. This represents a 34.39% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 29,220 shares of company stock worth $11,704,411 over the last three months. 3.80% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several equities research analysts recently weighed in on SNA shares. Tigress Financial increased their price target on Snap-On from $445.00 to $485.00 and gave the stock a “buy” rating in a report on Friday, July 31st. Barclays lowered their price objective on shares of Snap-On from $435.00 to $405.00 and set an “overweight” rating on the stock in a research report on Monday, October 26th. Weiss Ratings cut shares of Snap-On from a “buy (b)” rating to a “buy (b-)” rating in a research note on Friday, October 30th. Roth Capital restated a “buy” rating and set a $461.00 price objective (up from $409.00) on shares of Snap-On in a research report on Friday, July 24th. Finally, Robert W. Baird set a $385.00 target price on shares of Snap-On in a research note on Friday, October 23rd. Four analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, Snap-On has an average rating of “Moderate Buy” and a consensus price target of $434.00.

Snap-On Profile

Snap-on Incorporated develops, manufactures and markets tools, equipment, diagnostics and information systems for professional users. Its offerings include hand and power tools, tool storage, vehicle diagnostic equipment, shop equipment, repair information and software, and related products and services. The company serves customers in vehicle repair and other industries, including aviation, aerospace, agriculture, construction and manufacturing. Its products and services reach customers in the United States and international markets.