Snap-on Incorporated (NYSE:SNA) Shares Sold by Maryland State Retirement & Pension System

Maryland State Retirement & Pension System cut its stake in Snap-on Incorporated (NYSE:SNA) by 3.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,863 shares of the company’s stock after selling 92 shares during the period. Maryland State Retirement & Pension System’s holdings in Snap-on were worth $972,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. UMB Bank n.a. raised its stake in shares of Snap-on by 70.5% in the 4th quarter. UMB Bank n.a. now owns 75 shares of the company’s stock valued at $25,000 after purchasing an additional 31 shares in the last quarter. SBI Securities Co. Ltd. bought a new stake in Snap-on in the fourth quarter valued at about $26,000. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in Snap-on during the fourth quarter valued at approximately $28,000. Brooklyn Investment Group bought a new position in Snap-on during the 3rd quarter worth approximately $39,000. Finally, TCTC Holdings LLC grew its position in shares of Snap-on by 41.3% in the 4th quarter. TCTC Holdings LLC now owns 147 shares of the company’s stock worth $50,000 after acquiring an additional 43 shares in the last quarter. 84.88% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Snap-on news, SVP Jesus Arregui sold 6,451 shares of Snap-on stock in a transaction on Monday, February 10th. The stock was sold at an average price of $337.81, for a total transaction of $2,179,212.31. Following the sale, the senior vice president now owns 257 shares of the company’s stock, valued at $86,817.17. The trade was a 96.17 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Aldo John Pagliari sold 6,860 shares of the stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $339.05, for a total value of $2,325,883.00. Following the completion of the transaction, the chief financial officer now directly owns 107,096 shares of the company’s stock, valued at approximately $36,310,898.80. The trade was a 6.02 % decrease in their position. The disclosure for this sale can be found here. 4.10% of the stock is owned by insiders.

Snap-on Stock Down 0.7 %

Shares of Snap-on stock opened at $327.59 on Monday. Snap-on Incorporated has a twelve month low of $252.98 and a twelve month high of $373.90. The stock has a market capitalization of $17.17 billion, a price-to-earnings ratio of 16.80, a PEG ratio of 2.21 and a beta of 0.99. The company has a current ratio of 4.15, a quick ratio of 3.17 and a debt-to-equity ratio of 0.22. The business’s 50 day simple moving average is $340.99 and its 200-day simple moving average is $331.78.

Snap-on (NYSE:SNA) last posted its earnings results on Thursday, February 6th. The company reported $4.82 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.78 by $0.04. Snap-on had a return on equity of 19.20% and a net margin of 21.71%. During the same period in the previous year, the business earned $4.75 EPS. Equities research analysts forecast that Snap-on Incorporated will post 19.79 earnings per share for the current year.

Snap-on Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Monday, February 24th were paid a dividend of $2.14 per share. This represents a $8.56 dividend on an annualized basis and a yield of 2.61%. The ex-dividend date was Monday, February 24th. Snap-on’s payout ratio is 43.90%.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on SNA. Barrington Research reissued an “outperform” rating and set a $350.00 price target on shares of Snap-on in a research report on Monday, February 10th. Tigress Financial increased their target price on shares of Snap-on from $385.00 to $390.00 and gave the stock a “buy” rating in a report on Tuesday, March 4th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $346.40.

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.