State of Alaska Department of Revenue Sells 3,598 Shares of Snap-on Incorporated (NYSE:SNA)

State of Alaska Department of Revenue cut its holdings in Snap-on Incorporated (NYSE:SNA - Free Report) by 23.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 11,991 shares of the company's stock after selling 3,598 shares during the quarter. State of Alaska Department of Revenue's holdings in Snap-on were worth $4,069,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. UMB Bank n.a. raised its position in shares of Snap-on by 70.5% in the fourth quarter. UMB Bank n.a. now owns 75 shares of the company's stock valued at $25,000 after purchasing an additional 31 shares during the period. Reston Wealth Management LLC bought a new position in shares of Snap-on in the third quarter valued at approximately $30,000. Brooklyn Investment Group bought a new position in shares of Snap-on in the third quarter valued at approximately $39,000. nVerses Capital LLC bought a new position in shares of Snap-on in the third quarter valued at approximately $58,000. Finally, Private Trust Co. NA raised its position in shares of Snap-on by 38.2% in the third quarter. Private Trust Co. NA now owns 217 shares of the company's stock valued at $63,000 after purchasing an additional 60 shares during the period. 84.88% of the stock is currently owned by institutional investors and hedge funds.

Snap-on Stock Performance

Snap-on stock traded down $2.80 on Wednesday, hitting $334.54. The company's stock had a trading volume of 353,390 shares, compared to its average volume of 400,271. The firm has a market cap of $17.57 billion, a P/E ratio of 17.16, a price-to-earnings-growth ratio of 2.13 and a beta of 0.99. The company has a quick ratio of 3.14, a current ratio of 4.15 and a debt-to-equity ratio of 0.22. The company has a fifty day moving average price of $346.16 and a 200-day moving average price of $320.59. Snap-on Incorporated has a one year low of $252.98 and a one year high of $373.89.

Snap-on (NYSE:SNA - Get Free Report) last issued its earnings results on Thursday, February 6th. The company reported $4.82 EPS for the quarter, beating the consensus estimate of $4.78 by $0.04. Snap-on had a net margin of 21.71% and a return on equity of 19.20%. During the same period in the prior year, the firm posted $4.75 EPS. On average, equities analysts anticipate that Snap-on Incorporated will post 20.07 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on SNA shares. Robert W. Baird boosted their target price on shares of Snap-on from $290.00 to $347.00 and gave the stock a "neutral" rating in a research report on Friday, October 18th. Barrington Research reaffirmed an "outperform" rating and set a $350.00 target price on shares of Snap-on in a research report on Monday. Roth Mkm boosted their target price on shares of Snap-on from $324.00 to $365.00 and gave the stock a "buy" rating in a research report on Tuesday, October 22nd. Tigress Financial boosted their target price on shares of Snap-on from $336.00 to $385.00 and gave the stock a "buy" rating in a research report on Friday, October 25th. Finally, Bank of America boosted their price target on shares of Snap-on from $255.00 to $280.00 and gave the company an "underperform" rating in a report on Friday, October 18th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, Snap-on currently has an average rating of "Hold" and an average target price of $345.40.

Insider Activity

In other Snap-on news, VP June C. Lemerand sold 3,500 shares of the business's stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $362.86, for a total transaction of $1,270,010.00. Following the completion of the sale, the vice president now directly owns 2,289 shares of the company's stock, valued at approximately $830,586.54. The trade was a 60.46 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Nicholas T. Pinchuk sold 21,783 shares of the business's stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $354.83, for a total value of $7,729,261.89. Following the sale, the chief executive officer now directly owns 769,738 shares of the company's stock, valued at $273,126,134.54. This represents a 2.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 38,643 shares of company stock worth $13,580,191. Corporate insiders own 4.10% of the company's stock.

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.