New York State Common Retirement Fund Sells 18,987 Shares of Snap-on Incorporated (NYSE:SNA)

New York State Common Retirement Fund lessened its holdings in shares of Snap-on Incorporated (NYSE:SNA - Free Report) by 11.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 141,236 shares of the company's stock after selling 18,987 shares during the period. New York State Common Retirement Fund owned approximately 0.27% of Snap-on worth $40,795,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. BKM Wealth Management LLC purchased a new stake in Snap-on in the 4th quarter worth $33,000. Peoples Bank KS acquired a new position in Snap-on in the 3rd quarter valued at $40,000. Exchange Traded Concepts LLC purchased a new stake in Snap-on during the 4th quarter valued at about $43,000. Itau Unibanco Holding S.A. acquired a new position in shares of Snap-on during the 3rd quarter worth approximately $49,000. Finally, Orion Capital Management LLC acquired a new stake in shares of Snap-on in the third quarter valued at approximately $49,000. 84.88% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

SNA has been the subject of a number of analyst reports. Robert W. Baird dropped their price objective on shares of Snap-on from $295.00 to $282.00 and set a "neutral" rating for the company in a report on Friday, April 19th. Barrington Research reaffirmed an "outperform" rating and issued a $325.00 target price on shares of Snap-on in a research report on Monday, April 15th. Roth Mkm reissued a "buy" rating and issued a $324.00 target price on shares of Snap-on in a research report on Thursday, April 18th. Finally, Tigress Financial reaffirmed a "buy" rating and issued a $336.00 price objective on shares of Snap-on in a research note on Friday, February 16th. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, Snap-on presently has a consensus rating of "Moderate Buy" and a consensus target price of $316.75.

Snap-on Stock Performance

Snap-on stock traded down $3.44 during mid-day trading on Thursday, reaching $270.15. 261,207 shares of the company were exchanged, compared to its average volume of 314,738. 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 firm's 50-day simple moving average is $284.19 and its two-hundred day simple moving average is $278.72. Snap-on Incorporated has a twelve month low of $247.68 and a twelve month high of $298.49. The firm has a market cap of $14.24 billion, a PE ratio of 14.21, a price-to-earnings-growth ratio of 1.87 and a beta of 0.99.

Snap-on (NYSE:SNA - Get Free Report) last posted its quarterly earnings results on Thursday, April 18th. The company reported $4.75 earnings per share for the quarter, beating analysts' consensus estimates 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 return on equity of 20.46% and a net margin of 21.69%. The company's revenue for the quarter was down .1% compared to the same quarter last year. During the same period in the previous year, the business earned $4.60 earnings per share. Equities analysts predict that Snap-on Incorporated will post 19.04 earnings per share for the current fiscal year.

Snap-on Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 10th. Shareholders of record on Monday, May 20th will be issued a $1.86 dividend. This represents a $7.44 annualized dividend and a yield of 2.75%. Snap-on's dividend payout ratio (DPR) is 39.03%.

Insider Activity

In other news, CFO Aldo John Pagliari sold 3,231 shares of the business's stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $270.58, for a total value of $874,243.98. Following the completion of the transaction, the chief financial officer now owns 93,183 shares of the company's stock, valued at $25,213,456.14. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other Snap-on news, CFO Aldo John Pagliari sold 3,231 shares of the stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $270.58, for a total transaction of $874,243.98. Following the transaction, the chief financial officer now owns 93,183 shares of the company's stock, valued at $25,213,456.14. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Nicholas T. Pinchuk sold 23,514 shares of the firm's stock in a transaction dated Tuesday, March 19th. The stock was sold at an average price of $287.48, for a total value of $6,759,804.72. Following the completion of the transaction, 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. Insiders sold a total of 47,368 shares of company stock worth $13,399,449 over the last 90 days. 4.10% of the stock is currently owned by corporate insiders.

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.