Strs Ohio Sells 549 Shares of Snap-on Incorporated (NYSE:SNA)

Strs Ohio lowered its stake in Snap-on Incorporated (NYSE:SNA) by 5.6% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,282 shares of the company’s stock after selling 549 shares during the quarter. Strs Ohio’s holdings in Snap-on were worth $2,681,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of SNA. Clear Street Markets LLC increased its stake in Snap-on by 96.3% during the 1st quarter. Clear Street Markets LLC now owns 106 shares of the company’s stock valued at $26,000 after purchasing an additional 52 shares in the last quarter. BKM Wealth Management LLC bought a new stake in Snap-on during the 4th quarter valued at $33,000. Parkside Financial Bank & Trust increased its stake in Snap-on by 57.3% during the 1st quarter. Parkside Financial Bank & Trust now owns 129 shares of the company’s stock valued at $27,000 after purchasing an additional 47 shares in the last quarter. Exchange Traded Concepts LLC bought a new stake in Snap-on during the 4th quarter valued at $43,000. Finally, Quarry LP increased its stake in Snap-on by 384.4% during the 2nd quarter. Quarry LP now owns 155 shares of the company’s stock valued at $45,000 after purchasing an additional 123 shares in the last quarter. Institutional investors own 84.88% of the company’s stock.

Insider Activity at Snap-on

In related news, VP Richard Thomas Miller sold 704 shares of the business’s stock in a transaction dated Thursday, March 28th. The stock was sold at an average price of $298.16, for a total value of $209,904.64. Following the sale, the vice president now directly owns 3,213 shares in the company, valued at approximately $957,988.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, VP Richard Thomas Miller sold 704 shares of the company’s stock in a transaction dated Thursday, March 28th. The stock was sold at an average price of $298.16, for a total transaction of $209,904.64. Following the sale, the vice president now directly owns 3,213 shares in the company, valued at $957,988.08. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Nicholas T. Pinchuk sold 23,514 shares of the company’s stock in a transaction dated Tuesday, March 19th. The shares were sold at an average price of $287.48, for a total value of $6,759,804.72. Following the sale, the chief executive officer now owns 742,383 shares in the company, valued at $213,420,264.84. The disclosure for this sale can be found here. In the last three months, insiders have sold 47,368 shares of company stock worth $13,399,449. Company insiders own 4.10% of the company’s stock.

Wall Street Analysts Forecast Growth

SNA has been the subject of a number of recent research reports. Roth Mkm restated a “buy” rating and set a $324.00 price target on shares of Snap-on in a research note on Thursday. Tigress Financial restated a “buy” rating and set a $336.00 price target on shares of Snap-on in a research note on Friday, February 16th. Barrington Research restated an “outperform” rating and set a $325.00 price target on shares of Snap-on in a research note on Monday, April 15th. Finally, Robert W. Baird cut their price objective on shares of Snap-on from $295.00 to $282.00 and set a “neutral” rating on the stock in a report on Friday. One analyst has rated the stock with a sell rating, three have issued a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $301.40.

Snap-on Price Performance

SNA opened at $268.80 on Friday. The company has a debt-to-equity ratio of 0.23, a current ratio of 3.82 and a quick ratio of 2.81. The company has a market capitalization of $14.20 billion, a price-to-earnings ratio of 14.10, a P/E/G ratio of 1.87 and a beta of 0.99. The firm’s fifty day moving average price is $283.78 and its two-hundred day moving average price is $278.27. Snap-on Incorporated has a 1 year low of $245.73 and a 1 year high of $298.49.

Snap-on (NYSE:SNA) last issued its quarterly earnings results on Thursday, April 18th. The company reported $4.75 earnings per share for the quarter, topping analysts’ consensus estimates of $4.66 by $0.09. The company had revenue of $1.18 billion for the quarter, compared to the consensus estimate of $1.20 billion. Snap-on had a net margin of 21.69% and a return on equity of 20.46%. The firm’s quarterly revenue was down .1% on a year-over-year basis. During the same period in the previous year, the firm earned $4.60 EPS. As a group, analysts anticipate that Snap-on Incorporated will post 19.22 earnings per share for the current fiscal year.

Snap-on Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 11th. Investors of record on Monday, February 26th were paid a $1.86 dividend. This represents a $7.44 dividend on an annualized basis and a yield of 2.77%. The ex-dividend date of this dividend was Friday, February 23rd. Snap-on’s dividend payout ratio is currently 39.03%.

Snap-on 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.