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

Louisiana State Employees Retirement System bought a new stake in shares of Snap-on Incorporated (NYSE:SNA) in the 4th quarter, Holdings Channel.com reports. The firm bought 3,200 shares of the company’s stock, valued at approximately $924,000.

Several other large investors also recently added to or reduced their stakes in the business. Avantax Planning Partners Inc. grew its position in Snap-on by 3.5% during the third quarter. Avantax Planning Partners Inc. now owns 1,131 shares of the company’s stock valued at $288,000 after buying an additional 38 shares during the period. Phoenix Wealth Advisors boosted its position in shares of Snap-on by 3.1% in the third quarter. Phoenix Wealth Advisors now owns 1,309 shares of the company’s stock worth $334,000 after purchasing an additional 39 shares during the period. Venturi Wealth Management LLC boosted its position in shares of Snap-on by 17.2% in the fourth quarter. Venturi Wealth Management LLC now owns 272 shares of the company’s stock worth $79,000 after purchasing an additional 40 shares during the period. Contravisory Investment Management Inc. boosted its position in shares of Snap-on by 2.5% in the fourth quarter. Contravisory Investment Management Inc. now owns 1,973 shares of the company’s stock worth $570,000 after purchasing an additional 48 shares during the period. Finally, Ballentine Partners LLC boosted its position in shares of Snap-on by 5.3% in the fourth quarter. Ballentine Partners LLC now owns 948 shares of the company’s stock worth $274,000 after purchasing an additional 48 shares during the period. 84.88% of the stock is currently owned by institutional investors.

Snap-on Price Performance

SNA stock opened at $270.16 on Friday. Snap-on Incorporated has a one year low of $247.68 and a one year high of $298.49. The company’s fifty day moving average price is $284.19 and its 200-day moving average price is $278.72. The company has a debt-to-equity ratio of 0.23, a quick ratio of 2.83 and a current ratio of 3.82. The company has a market capitalization of $14.24 billion, a PE ratio of 14.17, a price-to-earnings-growth ratio of 1.87 and a beta of 0.99.

Snap-on (NYSE:SNA) last released its earnings results on Thursday, April 18th. The company reported $4.75 EPS for the quarter, topping the consensus estimate of $4.66 by $0.09. The firm 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 company’s quarterly revenue was down .1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $4.60 earnings per share. On average, equities analysts anticipate that Snap-on Incorporated will post 19.04 EPS for the current fiscal year.

Snap-on Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 10th. Investors of record on Monday, May 20th will be paid a dividend of $1.86 per share. This represents a $7.44 dividend on an annualized basis and a yield of 2.75%. Snap-on’s payout ratio is 39.03%.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on SNA shares. Tigress Financial reiterated a “buy” rating and issued a $336.00 price target on shares of Snap-on in a research report on Friday, February 16th. Roth Mkm reiterated a “buy” rating and issued a $324.00 price target on shares of Snap-on in a research report on Thursday, April 18th. Robert W. Baird lowered their target price on shares of Snap-on from $295.00 to $282.00 and set a “neutral” rating on the stock in a report on Friday, April 19th. Finally, Barrington Research reissued an “outperform” rating and issued a $325.00 target price on shares of Snap-on in a report on Monday, April 15th. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $316.75.

Insider Activity at Snap-on

In related news, VP Richard Thomas Miller sold 704 shares of the company’s stock in a transaction on Thursday, March 28th. The shares were sold at an average price of $298.16, for a total transaction of $209,904.64. Following the sale, the vice president now owns 3,213 shares of the company’s stock, valued at $957,988.08. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Snap-on news, VP Richard Thomas Miller sold 704 shares of the business’s stock in a transaction on Thursday, March 28th. The shares were sold at an average price of $298.16, for a total transaction of $209,904.64. Following the transaction, the vice president now owns 3,213 shares in the company, valued at $957,988.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Nicholas T. Pinchuk sold 23,514 shares of the business’s stock in a transaction on Tuesday, March 19th. The shares were sold at an average price of $287.48, for a total transaction of $6,759,804.72. Following the transaction, the chief executive officer now owns 742,383 shares in the company, valued at approximately $213,420,264.84. The disclosure for this sale can be found here. Insiders have sold a total of 47,368 shares of company stock valued at $13,399,449 over the last 90 days. 4.10% of the stock is owned by corporate insiders.

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.