Kentucky Retirement Systems Buys Shares of 4,801 Snap-On Incorporated $SNA

Kentucky Retirement Systems purchased a new position in shares of Snap-On Incorporated (NYSE:SNA) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 4,801 shares of the company’s stock, valued at approximately $1,744,000.

A number of other institutional investors also recently made changes to their positions in SNA. Thurston Springer Miller Herd & Titak Inc. bought a new position in shares of Snap-On in the fourth quarter valued at approximately $25,000. DV Equities LLC bought a new stake in Snap-On during the fourth quarter worth approximately $25,000. Montag A & Associates Inc. raised its holdings in Snap-On by 331.8% during the fourth quarter. Montag A & Associates Inc. now owns 95 shares of the company’s stock worth $33,000 after purchasing an additional 73 shares in the last quarter. Quattro Advisors LLC acquired a new stake in Snap-On in the fourth quarter worth approximately $35,000. Finally, Annis Gardner Whiting Capital Advisors LLC boosted its stake in Snap-On by 36.4% during the 4th quarter. Annis Gardner Whiting Capital Advisors LLC now owns 105 shares of the company’s stock valued at $36,000 after purchasing an additional 28 shares in the last quarter. 84.88% of the stock is owned by institutional investors and hedge funds.

Snap-On Trading Down 1.2%

Snap-On stock opened at $409.66 on Friday. The firm has a market cap of $21.19 billion, a price-to-earnings ratio of 20.89, a price-to-earnings-growth ratio of 2.92 and a beta of 0.73. Snap-On Incorporated has a 1 year low of $312.78 and a 1 year high of $420.91. The firm’s 50 day moving average price is $393.64 and its two-hundred day moving average price is $380.10. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.64 and a current ratio of 3.43.

Snap-On (NYSE:SNA) last announced its quarterly earnings data on Thursday, July 23rd. The company reported $4.96 EPS for the quarter, beating analysts’ consensus estimates of $4.95 by $0.01. The company had revenue of $1.24 billion during the quarter, compared to the consensus estimate of $1.22 billion. Snap-On had a return on equity of 17.07% and a net margin of 21.25%.The company’s quarterly revenue was up 4.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $4.72 EPS. On average, research analysts predict that Snap-On Incorporated will post 19.7 EPS for the current fiscal year.

Snap-On announced that its board has approved a share repurchase plan on Thursday, April 30th that permits the company to buyback $500.00 million in shares. This buyback authorization permits the company to purchase up to 2.5% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s management believes its shares are undervalued.

Insiders Place Their Bets

In related news, SVP Jesus Arregui sold 4,251 shares of the stock in a transaction on Wednesday, June 10th. The stock was sold at an average price of $383.92, for a total value of $1,632,043.92. Following the completion of the transaction, the senior vice president owned 4,439 shares in the company, valued at $1,704,220.88. This trade represents a 48.92% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Timothy L. Chambers sold 9,111 shares of the stock in a transaction on Tuesday, July 28th. The shares were sold at an average price of $419.36, for a total value of $3,820,788.96. Following the completion of the transaction, the senior vice president owned 21,223 shares of the company’s stock, valued at $8,900,077.28. This trade represents a 30.04% decrease in their position. 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 46,617 shares of company stock worth $17,987,869. Corporate insiders own 3.80% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on SNA shares. Roth Capital reiterated a “buy” rating and set a $461.00 price target (up from $409.00) on shares of Snap-On in a research report on Friday, July 24th. Robert W. Baird set a $415.00 price objective on Snap-On in a report on Friday, July 24th. Barclays began coverage on Snap-On in a research note on Thursday, May 28th. They set an “overweight” rating and a $420.00 target price for the company. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Snap-On in a report on Friday, July 17th. Five equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $418.20.

Snap-On Profile

Snap‑On Incorporated (NYSE: SNA) is a designer, manufacturer and marketer of tools, diagnostic equipment, repair information and shop equipment for professional users. The company’s product range includes hand and power tools, tool storage and cabinets, diagnostic scan tools and software, shop equipment such as lifts and tire changers, and specialized specialty tools for automotive, aviation, marine and industrial applications. Snap‑On also offers information and workflow solutions that combine diagnostic data, repair procedures and parts information to support professional technicians.

Founded in 1920 and headquartered in Kenosha, Wisconsin, Snap‑On has established a long history in the professional tools market.