New York State Common Retirement Fund Sells 10,164 Shares of Snap-on Incorporated (NYSE:SNA)

New York State Common Retirement Fund trimmed its holdings in shares of Snap-on Incorporated (NYSE:SNA) by 7.7% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 122,034 shares of the company’s stock after selling 10,164 shares during the quarter. New York State Common Retirement Fund owned 0.23% of Snap-on worth $35,354,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Reston Wealth Management LLC bought a new stake in Snap-on during the 3rd quarter valued at about $30,000. US Bancorp DE raised its stake in shares of Snap-on by 2.0% during the third quarter. US Bancorp DE now owns 33,492 shares of the company’s stock valued at $9,704,000 after acquiring an additional 656 shares in the last quarter. HM Payson & Co. bought a new position in Snap-on in the third quarter worth approximately $89,000. Financial Advocates Investment Management increased its holdings in Snap-on by 2.6% during the 3rd quarter. Financial Advocates Investment Management now owns 3,449 shares of the company’s stock worth $999,000 after purchasing an additional 89 shares during the period. Finally, Pinnacle Associates Ltd. bought a new stake in Snap-on during the 3rd quarter valued at $214,000. 84.88% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the company. Roth Mkm increased their price target on Snap-on from $324.00 to $365.00 and gave the stock a “buy” rating in a research report on Tuesday, October 22nd. Bank of America increased their target price on shares of Snap-on from $255.00 to $280.00 and gave the stock an “underperform” rating in a report on Friday, October 18th. Tigress Financial boosted their price target on shares of Snap-on from $336.00 to $385.00 and gave the company a “buy” rating in a report on Friday, October 25th. Robert W. Baird upped their price target 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. Finally, Barrington Research lifted their price objective on shares of Snap-on from $325.00 to $350.00 and gave the company an “outperform” rating in a report on Thursday, October 17th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, Snap-on has an average rating of “Hold” and an average target price of $345.40.

Snap-on Stock Performance

Shares of Snap-on stock opened at $330.29 on Friday. The company has a market capitalization of $17.34 billion, a PE ratio of 17.00, a P/E/G ratio of 2.18 and a beta of 0.96. The company has a 50-day simple moving average of $294.73 and a two-hundred day simple moving average of $279.35. Snap-on Incorporated has a one year low of $252.98 and a one year high of $337.72. The company has a debt-to-equity ratio of 0.22, a quick ratio of 3.14 and a current ratio of 4.18.

Snap-on Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Monday, August 19th were paid a dividend of $1.86 per share. The ex-dividend date was Monday, August 19th. This represents a $7.44 annualized dividend and a dividend yield of 2.25%. Snap-on’s dividend payout ratio (DPR) is presently 38.29%.

Snap-on announced that its board has approved a stock buyback program on Thursday, August 8th that authorizes the company to buyback $500.00 million in shares. This buyback authorization authorizes the company to purchase up to 3.5% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s management believes its stock is undervalued.

Insider Activity at Snap-on

In other Snap-on news, SVP Thomas J. Ward sold 12,737 shares of Snap-on stock in a transaction on Monday, October 28th. The shares were sold at an average price of $333.21, for a total value of $4,244,095.77. Following the transaction, the senior vice president now directly owns 55,401 shares of the company’s stock, valued at approximately $18,460,167.21. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Snap-on news, SVP Thomas J. Ward sold 12,737 shares of the stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $333.21, for a total value of $4,244,095.77. Following the completion of the sale, the senior vice president now directly owns 55,401 shares in the company, valued at approximately $18,460,167.21. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Richard Thomas Miller sold 1,750 shares of the business’s stock in a transaction dated Friday, October 18th. The stock was sold at an average price of $330.00, for a total value of $577,500.00. Following the sale, the vice president now owns 3,218 shares in the company, valued at $1,061,940. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 50,335 shares of company stock valued at $14,706,082 over the last 90 days. Insiders own 4.10% of the company’s stock.

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.