Snap-on Incorporated (NYSE:SNA) Stake Raised by California Public Employees Retirement System

California Public Employees Retirement System lifted its holdings in Snap-on Incorporated (NYSE:SNA) by 3.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 144,472 shares of the company’s stock after purchasing an additional 4,614 shares during the period. California Public Employees Retirement System owned about 0.25% of Snap-on worth $25,181,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also made changes to their positions in the company. Amica Retiree Medical Trust acquired a new position in shares of Snap-on during the 3rd quarter worth approximately $165,000. Glenview State Bank Trust DEPT. purchased a new stake in shares of Snap-on during the fourth quarter worth $206,000. Jacobi Capital Management LLC purchased a new stake in shares of Snap-on during the third quarter worth $215,000. Visionary Asset Management Inc. purchased a new stake in shares of Snap-on during the third quarter worth $215,000. Finally, Ameritas Investment Partners Inc. increased its position in shares of Snap-on by 1.7% during the second quarter. Ameritas Investment Partners Inc. now owns 1,411 shares of the company’s stock worth $222,000 after acquiring an additional 23 shares during the period. Hedge funds and other institutional investors own 99.40% of the company’s stock.

Shares of Snap-on Incorporated (NYSE:SNA) traded up $0.27 during midday trading on Wednesday, reaching $152.21. 676,510 shares of the company were exchanged, compared to its average volume of 845,290. The firm has a market capitalization of $8,630.00, a price-to-earnings ratio of 15.79, a P/E/G ratio of 1.28 and a beta of 1.12. Snap-on Incorporated has a 1 year low of $140.83 and a 1 year high of $185.47. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.24 and a current ratio of 1.78.

Snap-on (NYSE:SNA) last announced its quarterly earnings results on Thursday, February 8th. The company reported $2.69 earnings per share for the quarter, beating the Zacks’ consensus estimate of $2.66 by $0.03. The company had revenue of $974.60 million for the quarter, compared to analyst estimates of $940.50 million. Snap-on had a net margin of 15.13% and a return on equity of 20.54%. Snap-on’s revenue for the quarter was up 9.5% on a year-over-year basis. During the same quarter last year, the business earned $2.47 EPS. analysts anticipate that Snap-on Incorporated will post 11.48 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Friday, March 16th. Investors of record on Friday, March 2nd will be paid a dividend of $0.82 per share. This represents a $3.28 annualized dividend and a yield of 2.15%. The ex-dividend date of this dividend is Thursday, March 1st. Snap-on’s dividend payout ratio (DPR) is 34.02%.

Several research firms recently commented on SNA. B. Riley set a $205.00 target price on Snap-on and gave the company a “buy” rating in a report on Thursday, February 8th. Zacks Investment Research upgraded shares of Snap-on from a “hold” rating to a “buy” rating and set a $193.00 price objective for the company in a research note on Wednesday, December 20th. Robert W. Baird decreased their target price on shares of Snap-on from $220.00 to $211.00 and set an “outperform” rating for the company in a research note on Friday, February 9th. Finally, Barrington Research restated a “buy” rating on shares of Snap-on in a research report on Thursday, March 8th. One analyst has rated the stock with a sell rating, two have issued a hold rating and seven have given a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $192.00.

In other news, CEO Nicholas T. Pinchuk sold 20,680 shares of the business’s stock in a transaction dated Thursday, December 28th. The shares were sold at an average price of $174.55, for a total value of $3,609,694.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director William Dudley Lehman sold 387 shares of the business’s stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $160.60, for a total transaction of $62,152.20. Following the sale, the director now directly owns 8,376 shares of the company’s stock, valued at approximately $1,345,185.60. The disclosure for this sale can be found here. Insiders have sold a total of 146,355 shares of company stock worth $24,058,960 in the last ninety days. 3.70% of the stock is currently owned by insiders.

COPYRIGHT VIOLATION WARNING: This news story was posted by Equities Focus and is the property of of Equities Focus. If you are accessing this news story on another publication, it was stolen and reposted in violation of U.S. and international copyright and trademark laws. The legal version of this news story can be accessed at https://www.equitiesfocus.com/2018/03/14/california-public-employees-retirement-system-acquires-4614-shares-of-snap-on-incorporated-sna.html.

About Snap-on

Snap-on Incorporated is a manufacturer and marketer of tools, equipment, diagnostics, repair information and systems solutions. The Company’s segments include the Commercial & Industrial Group, the Snap-on Tools Group, the Repair Systems & Information Group, and Financial Services. The Commercial & Industrial Group consists of business operations serving a range of industrial and commercial customers, including customers in the aerospace, natural resources, government, power generation, transportation and technical education markets.

Institutional Ownership by Quarter for Snap-on (NYSE:SNA)

Receive News & Ratings for Snap-on Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Snap-on and related companies with MarketBeat.com's FREE daily email newsletter.



Leave a Reply