Illinois Municipal Retirement Fund Trims Stock Holdings in Snap-On Incorporated (NYSE:SNA)

Illinois Municipal Retirement Fund lessened its holdings in shares of Snap-On Incorporated (NYSE:SNA - Free Report) by 8.5% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 35,670 shares of the company's stock after selling 3,331 shares during the period. Illinois Municipal Retirement Fund owned about 0.07% of Snap-On worth $12,021,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the business. New York Life Investment Management LLC boosted its position in shares of Snap-On by 0.4% during the fourth quarter. New York Life Investment Management LLC now owns 7,106 shares of the company's stock valued at $2,412,000 after buying an additional 31 shares during the period. TrinityPoint Wealth LLC boosted its position in shares of Snap-On by 0.8% during the fourth quarter. TrinityPoint Wealth LLC now owns 4,164 shares of the company's stock valued at $1,414,000 after buying an additional 33 shares during the period. Inspire Advisors LLC boosted its position in shares of Snap-On by 1.0% during the fourth quarter. Inspire Advisors LLC now owns 3,382 shares of the company's stock valued at $1,148,000 after buying an additional 34 shares during the period. Richwood Investment Advisors LLC boosted its position in shares of Snap-On by 1.2% during the fourth quarter. Richwood Investment Advisors LLC now owns 3,053 shares of the company's stock valued at $1,036,000 after buying an additional 35 shares during the period. Finally, Centric Wealth Management boosted its position in shares of Snap-On by 0.4% during the fourth quarter. Centric Wealth Management now owns 8,440 shares of the company's stock valued at $2,865,000 after buying an additional 36 shares during the period. Hedge funds and other institutional investors own 84.88% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. Tigress Financial boosted their price target on Snap-On from $385.00 to $390.00 and gave the company a "buy" rating in a report on Tuesday, March 4th. Longbow Research upgraded Snap-On from a "neutral" rating to a "buy" rating and set a $400.00 price target for the company in a report on Monday, March 31st. Robert W. Baird lowered their price target on Snap-On from $349.00 to $320.00 and set a "neutral" rating for the company in a report on Monday, April 21st. Wall Street Zen upgraded Snap-On from a "hold" rating to a "buy" rating in a report on Friday, May 16th. Finally, Barrington Research reiterated an "outperform" rating and issued a $350.00 price target on shares of Snap-On in a report on Monday, May 19th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and five have assigned a buy rating to the company's stock. According to MarketBeat, Snap-On currently has an average rating of "Moderate Buy" and an average price target of $350.83.

Snap-On Stock Up 0.4%

Snap-On stock traded up $1.22 during mid-day trading on Friday, reaching $310.77. 412,947 shares of the company were exchanged, compared to its average volume of 368,865. The business has a fifty day moving average of $315.94 and a 200 day moving average of $330.34. The company has a debt-to-equity ratio of 0.21, a quick ratio of 3.18 and a current ratio of 4.14. The firm has a market cap of $16.25 billion, a P/E ratio of 16.27, a PEG ratio of 2.22 and a beta of 0.78. Snap-On Incorporated has a 12-month low of $252.98 and a 12-month high of $373.90.

Snap-On (NYSE:SNA - Get Free Report) last posted its earnings results on Thursday, April 17th. The company reported $4.51 earnings per share for the quarter, missing analysts' consensus estimates of $4.81 by ($0.30). The company had revenue of $1.14 billion for the quarter, compared to analysts' expectations of $1.20 billion. Snap-On had a return on equity of 18.60% and a net margin of 21.42%. During the same quarter in the prior year, the company earned $4.91 EPS. Research analysts anticipate that Snap-On Incorporated will post 19.79 earnings per share for the current fiscal year.

Snap-On Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Tuesday, May 20th were issued a dividend of $2.14 per share. The ex-dividend date of this dividend was Tuesday, May 20th. This represents a $8.56 dividend on an annualized basis and a yield of 2.75%. Snap-On's dividend payout ratio is currently 44.82%.

Insiders Place Their Bets

In other news, Director Karen L. Daniel sold 1,090 shares of the stock in a transaction on Thursday, June 5th. The stock was sold at an average price of $319.92, for a total transaction of $348,712.80. Following the completion of the sale, the director now owns 8,030 shares in the company, valued at approximately $2,568,957.60. This represents a 11.95% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Aldo John Pagliari sold 5,553 shares of the stock in a transaction on Thursday, May 15th. The shares were sold at an average price of $326.84, for a total value of $1,814,942.52. Following the sale, the chief financial officer now owns 109,560 shares of the company's stock, valued at approximately $35,808,590.40. This represents a 4.82% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 29,815 shares of company stock worth $9,482,532 over the last 90 days. Company insiders own 3.90% of the company's stock.

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.