Snap-On Incorporated $SNA Stock Acquired by Illinois Municipal Retirement Fund

Illinois Municipal Retirement Fund increased its position in shares of Snap-On Incorporated (NYSE:SNA) by 4.1% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 51,730 shares of the company’s stock after purchasing an additional 2,025 shares during the period. Illinois Municipal Retirement Fund owned 0.10% of Snap-On worth $18,796,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Bahl & Gaynor LLC lifted its holdings in Snap-On by 5.7% during the 3rd quarter. Bahl & Gaynor LLC now owns 519,719 shares of the company’s stock worth $188,840,000 after buying an additional 27,945 shares during the last quarter. Keybank National Association OH boosted its position in shares of Snap-On by 48.4% during the 3rd quarter. Keybank National Association OH now owns 5,181 shares of the company’s stock worth $1,883,000 after acquiring an additional 1,690 shares in the last quarter. Gen Wealth Partners Inc purchased a new position in shares of Snap-On in the 3rd quarter valued at about $30,000. United Capital Management of KS Inc. increased its holdings in shares of Snap-On by 0.3% in the 3rd quarter. United Capital Management of KS Inc. now owns 15,314 shares of the company’s stock valued at $5,564,000 after acquiring an additional 53 shares during the last quarter. Finally, AlphaCore Capital LLC raised its position in shares of Snap-On by 33.5% during the 3rd quarter. AlphaCore Capital LLC now owns 2,001 shares of the company’s stock worth $727,000 after acquiring an additional 502 shares in the last quarter. Hedge funds and other institutional investors own 84.88% of the company’s stock.

Insider Activity

In other news, VP Marty V. Ozolins sold 800 shares of the firm’s stock in a transaction that occurred on Wednesday, August 26th. The shares were sold at an average price of $400.00, for a total transaction of $320,000.00. Following the transaction, the vice president directly owned 1,526 shares in the company, valued at approximately $610,400. This trade represents a 34.39% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Aldo Pagliari sold 5,531 shares of the firm’s stock in a transaction that occurred on Thursday, August 13th. The stock was sold at an average price of $404.25, for a total transaction of $2,235,906.75. Following the transaction, the chief financial officer owned 120,644 shares in the company, valued at approximately $48,770,337. This trade represents a 4.38% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 29,220 shares of company stock valued at $11,704,411. 3.80% of the stock is currently owned by company insiders.

Snap-On Stock Down 0.1%

Snap-On stock opened at $373.30 on Wednesday. Snap-On Incorporated has a fifty-two week low of $320.80 and a fifty-two week high of $423.02. The company has a debt-to-equity ratio of 0.14, a quick ratio of 2.71 and a current ratio of 3.55. The company has a market capitalization of $19.25 billion, a P/E ratio of 19.41, a PEG ratio of 2.66 and a beta of 0.75. The stock has a 50-day simple moving average of $368.13 and a 200-day simple moving average of $380.27.

Snap-On (NYSE:SNA) last released its quarterly earnings results on Thursday, October 22nd. The company reported $4.64 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.93 by ($0.29). The firm had revenue of $1.18 billion for the quarter, compared to analysts’ expectations of $1.24 billion. Snap-On had a return on equity of 16.77% and a net margin of 20.82%. The company’s quarterly revenue was down .6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $4.71 EPS. Equities research analysts expect that Snap-On Incorporated will post 19.24 earnings per share for the current year.

Snap-On Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 10th. Stockholders of record on Friday, November 20th will be issued a $2.75 dividend. The ex-dividend date of this dividend is Friday, November 20th. This is an increase from Snap-On’s previous quarterly dividend of $2.44. This represents a $11.00 annualized dividend and a dividend yield of 2.9%. Snap-On’s dividend payout ratio is currently 50.75%.

Wall Street Analyst Weigh In

Several research firms recently weighed in on SNA. Roth Capital restated a “buy” rating and set a $461.00 target price (up from $409.00) on shares of Snap-On in a research note on Friday, July 24th. Weiss Ratings lowered shares of Snap-On from a “buy (b)” rating to a “buy (b-)” rating in a research note on Friday, October 30th. Robert W. Baird set a $385.00 target price on shares of Snap-On in a report on Friday, October 23rd. Barclays dropped their target price on shares of Snap-On from $435.00 to $405.00 and set an “overweight” rating on the stock in a research report on Monday, October 26th. Finally, Tigress Financial lifted their price target on shares of Snap-On from $445.00 to $485.00 and gave the stock a “buy” rating in a research note on Friday, July 31st. Four analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $434.00.

About Snap-On

Snap-on Incorporated develops, manufactures and markets tools, equipment, diagnostics and information systems for professional users. Its offerings include hand and power tools, tool storage, vehicle diagnostic equipment, shop equipment, repair information and software, and related products and services. The company serves customers in vehicle repair and other industries, including aviation, aerospace, agriculture, construction and manufacturing. Its products and services reach customers in the United States and international markets.