Treasurer of the State of North Carolina Acquires 1,598 Shares of Snap-on Incorporated (NYSE:SNA)

Treasurer of the State of North Carolina lifted its holdings in Snap-on Incorporated (NYSE:SNA - Free Report) by 2.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 64,269 shares of the company's stock after buying an additional 1,598 shares during the period. Treasurer of the State of North Carolina owned about 0.12% of Snap-on worth $21,818,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of SNA. Bleakley Financial Group LLC purchased a new position in Snap-on during the 4th quarter valued at about $512,000. Vest Financial LLC grew its holdings in Snap-on by 2.4% in the 4th quarter. Vest Financial LLC now owns 102,987 shares of the company's stock valued at $34,962,000 after buying an additional 2,460 shares during the period. Sanctuary Advisors LLC lifted its position in Snap-on by 3.6% during the third quarter. Sanctuary Advisors LLC now owns 45,783 shares of the company's stock valued at $13,264,000 after buying an additional 1,605 shares in the last quarter. World Investment Advisors LLC acquired a new stake in shares of Snap-on during the third quarter valued at about $19,291,000. Finally, Avanza Fonder AB acquired a new stake in Snap-on during the fourth quarter valued at approximately $1,936,000. 84.88% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, CFO Aldo John Pagliari sold 6,860 shares of Snap-on stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $339.05, for a total transaction of $2,325,883.00. Following the sale, the chief financial officer now directly owns 107,096 shares in the company, valued at approximately $36,310,898.80. This trade represents a 6.02 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Jesus Arregui sold 6,451 shares of the firm's stock in a transaction dated 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. This trade represents a 96.17 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 36,011 shares of company stock worth $12,116,859. Company insiders own 3.90% of the company's stock.

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Snap-on Stock Up 0.1 %

NYSE SNA traded up $0.42 during trading hours on Tuesday, hitting $337.31. 420,765 shares of the company traded hands, compared to its average volume of 351,305. The stock has a market capitalization of $17.68 billion, a price-to-earnings ratio of 17.30, a P/E/G ratio of 2.21 and a beta of 0.84. Snap-on Incorporated has a twelve month low of $252.98 and a twelve month high of $373.90. The business's 50-day moving average is $333.12 and its 200-day moving average is $337.49. The company has a debt-to-equity ratio of 0.22, a quick ratio of 3.17 and a current ratio of 4.15.

Snap-on (NYSE:SNA - Get Free Report) last announced its quarterly earnings results on Thursday, February 6th. The company reported $4.82 earnings per share (EPS) for the quarter, beating the consensus estimate 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 quarter in the prior year, the business posted $4.75 earnings per share. Sell-side analysts anticipate that Snap-on Incorporated will post 19.79 earnings per share for the current year.

Snap-on Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Monday, February 24th were issued a dividend of $2.14 per share. This represents a $8.56 dividend on an annualized basis and a yield of 2.54%. The ex-dividend date of this dividend was Monday, February 24th. Snap-on's payout ratio is 43.90%.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on SNA shares. Longbow Research upgraded Snap-on from a "neutral" rating to a "buy" rating and set a $400.00 price target for the company in a research report on Monday, March 31st. Barrington Research reaffirmed an "outperform" rating and set a $350.00 target price on shares of Snap-on in a research note on Friday. Tigress Financial lifted their price objective on Snap-on from $385.00 to $390.00 and gave the company a "buy" rating in a research report on Tuesday, March 4th. Finally, Robert W. Baird decreased their target price on shares of Snap-on from $358.00 to $349.00 and set a "neutral" rating for the company in a research report on Tuesday. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have given a buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $355.67.

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.