Snap-On Incorporated (NYSE:SNA) Shares Sold by New York State Common Retirement Fund

New York State Common Retirement Fund lowered its holdings in shares of Snap-On Incorporated (NYSE:SNA - Free Report) by 18.2% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 96,702 shares of the company's stock after selling 21,579 shares during the period. New York State Common Retirement Fund owned 0.18% of Snap-On worth $32,590,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the stock. TrinityPoint Wealth LLC lifted its position in Snap-On by 0.8% in the fourth quarter. TrinityPoint Wealth LLC now owns 4,164 shares of the company's stock valued at $1,414,000 after purchasing an additional 33 shares during the period. Richwood Investment Advisors LLC increased its position in Snap-On by 1.2% during the 4th quarter. Richwood Investment Advisors LLC now owns 3,053 shares of the company's stock worth $1,036,000 after purchasing an additional 35 shares during the period. Centric Wealth Management raised its stake in shares of Snap-On by 0.4% during the 4th quarter. Centric Wealth Management now owns 8,440 shares of the company's stock worth $2,865,000 after buying an additional 36 shares in the last quarter. Canandaigua National Trust Co of Florida lifted its holdings in shares of Snap-On by 5.4% in the 1st quarter. Canandaigua National Trust Co of Florida now owns 716 shares of the company's stock valued at $241,000 after buying an additional 37 shares during the period. Finally, Advisors Capital Management LLC boosted its stake in shares of Snap-On by 3.4% in the fourth quarter. Advisors Capital Management LLC now owns 1,178 shares of the company's stock valued at $400,000 after buying an additional 39 shares in the last quarter. Institutional investors and hedge funds own 84.88% of the company's stock.

Analyst Ratings Changes

Several equities research analysts recently commented on the stock. Wall Street Zen raised shares of Snap-On from a "hold" rating to a "buy" rating in a research note on Friday, May 16th. Barrington Research reiterated an "outperform" rating and issued a $350.00 price target on shares of Snap-On in a research report on Tuesday. Longbow Research raised shares of Snap-On from a "neutral" rating to a "buy" rating and set a $400.00 price objective for the company in a research note on Monday, March 31st. Finally, Robert W. Baird reduced their target price on Snap-On from $349.00 to $320.00 and set a "neutral" rating on the stock in a research note on Monday, April 21st. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $350.83.

Insider Activity

In related news, CEO Nicholas T. Pinchuk sold 23,172 shares of the stock in a transaction that occurred on Monday, June 2nd. The shares were sold at an average price of $315.85, for a total transaction of $7,318,876.20. Following the completion of the sale, the chief executive officer owned 804,510 shares of the company's stock, valued at approximately $254,104,483.50. This represents a 2.80% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Aldo John Pagliari sold 5,553 shares of Snap-On stock in a transaction that occurred on Thursday, May 15th. The shares were sold at an average price of $326.84, for a total transaction of $1,814,942.52. Following the transaction, the chief financial officer directly owned 109,560 shares in the company, valued at approximately $35,808,590.40. This trade represents a 4.82% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 29,815 shares of company stock valued at $9,482,532 in the last three months. Corporate insiders own 3.90% of the company's stock.

Snap-On Trading Up 7.9%

NYSE SNA traded up $24.60 during trading hours on Thursday, hitting $337.61. 835,791 shares of the company's stock were exchanged, compared to its average volume of 396,987. The business's 50 day moving average is $318.05 and its 200-day moving average is $327.85. The company has a debt-to-equity ratio of 0.21, a quick ratio of 3.18 and a current ratio of 4.14. Snap-On Incorporated has a 12-month low of $266.55 and a 12-month high of $373.89. The firm has a market capitalization of $17.65 billion, a P/E ratio of 17.68, a price-to-earnings-growth ratio of 2.23 and a beta of 0.76.

Snap-On (NYSE:SNA - Get Free Report) last posted its quarterly earnings data on Thursday, July 17th. The company reported $4.72 EPS for the quarter, beating analysts' consensus estimates of $4.61 by $0.11. Snap-On had a net margin of 21.42% and a return on equity of 18.60%. The company had revenue of $1.18 billion during the quarter, compared to the consensus estimate of $1.16 billion. During the same quarter in the prior year, the company posted $5.07 EPS. The company's quarterly revenue was up .0% compared to the same quarter last year. As a group, analysts anticipate that Snap-On Incorporated will post 19.79 EPS for the current fiscal year.

Snap-On Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Tuesday, May 20th were given a $2.14 dividend. This represents a $8.56 annualized dividend and a dividend yield of 2.54%. The ex-dividend date was Tuesday, May 20th. Snap-On's dividend payout ratio (DPR) is currently 44.82%.

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.