Illinois Municipal Retirement Fund Sells 1,961 Shares of Snap-on Incorporated (NYSE:SNA)

Illinois Municipal Retirement Fund lowered its stake in shares of Snap-on Incorporated (NYSE:SNA) by 4.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 41,789 shares of the company’s stock after selling 1,961 shares during the period. Illinois Municipal Retirement Fund owned 0.08% of Snap-on worth $12,070,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Charles Schwab Investment Management Inc. raised its position in shares of Snap-on by 2.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,276,205 shares of the company’s stock worth $325,509,000 after buying an additional 26,260 shares in the last quarter. Nordea Investment Management AB grew its stake in shares of Snap-on by 52.8% during the fourth quarter. Nordea Investment Management AB now owns 864,565 shares of the company’s stock valued at $249,743,000 after buying an additional 298,727 shares during the last quarter. Northern Trust Corp grew its stake in shares of Snap-on by 4.6% during the third quarter. Northern Trust Corp now owns 834,148 shares of the company’s stock valued at $212,758,000 after buying an additional 36,556 shares during the last quarter. Earnest Partners LLC grew its stake in shares of Snap-on by 5.8% in the third quarter. Earnest Partners LLC now owns 775,131 shares of the company’s stock worth $197,705,000 after purchasing an additional 42,701 shares during the last quarter. Finally, Envestnet Asset Management Inc. grew its stake in shares of Snap-on by 25.1% in the third quarter. Envestnet Asset Management Inc. now owns 738,473 shares of the company’s stock worth $188,355,000 after purchasing an additional 147,997 shares during the last quarter. Hedge funds and other institutional investors own 84.88% of the company’s stock.

Analysts Set New Price Targets

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

Insider Activity

In other news, VP Richard Thomas Miller sold 704 shares of the business’s stock in a transaction on Thursday, March 28th. The shares were sold at an average price of $298.16, for a total transaction of $209,904.64. Following the completion of the sale, the vice president now owns 3,213 shares of the company’s stock, valued at approximately $957,988.08. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, VP Richard Thomas Miller sold 704 shares of Snap-on stock in a transaction on Thursday, March 28th. The shares were sold at an average price of $298.16, for a total transaction of $209,904.64. Following the transaction, the vice president now owns 3,213 shares in the company, valued at approximately $957,988.08. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Nicholas T. Pinchuk sold 23,514 shares of the business’s stock in a transaction on Tuesday, March 19th. The stock was sold at an average price of $287.48, for a total transaction of $6,759,804.72. Following the completion of the sale, the chief executive officer now owns 742,383 shares in the company, valued at approximately $213,420,264.84. The disclosure for this sale can be found here. Insiders sold a total of 47,368 shares of company stock valued at $13,399,449 in the last 90 days. Company insiders own 4.10% of the company’s stock.

Snap-on Stock Performance

NYSE:SNA traded up $3.47 during trading hours on Tuesday, reaching $272.03. The company had a trading volume of 91,864 shares, compared to its average volume of 312,973. The company has a current ratio of 3.82, a quick ratio of 2.83 and a debt-to-equity ratio of 0.23. Snap-on Incorporated has a 52 week low of $247.68 and a 52 week high of $298.49. The firm has a market cap of $14.34 billion, a price-to-earnings ratio of 14.09, a PEG ratio of 1.92 and a beta of 0.99. The firm’s 50 day moving average price is $283.80 and its 200-day moving average price is $278.68.

Snap-on (NYSE:SNA) last posted its earnings results on Thursday, April 18th. The company reported $4.75 EPS for the quarter, topping analysts’ consensus estimates of $4.66 by $0.09. Snap-on had a net margin of 21.69% and a return on equity of 20.46%. The business had revenue of $1.18 billion during the quarter, compared to the consensus estimate of $1.20 billion. During the same quarter in the previous year, the firm posted $4.60 EPS. The firm’s revenue was down .1% on a year-over-year basis. On average, analysts forecast that Snap-on Incorporated will post 19.24 EPS for the current year.

Snap-on Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 11th. Stockholders of record on Monday, February 26th were given a dividend of $1.86 per share. This represents a $7.44 dividend on an annualized basis and a dividend yield of 2.73%. The ex-dividend date of this dividend was Friday, February 23rd. Snap-on’s payout ratio is 39.03%.

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.