Strs Ohio Acquires New Holdings in Snap-On Incorporated $SNA

Strs Ohio acquired a new stake in Snap-On Incorporated (NYSE:SNA) in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 6,545 shares of the company’s stock, valued at approximately $2,206,000.

Several other large investors have also recently modified their holdings of SNA. Auto Owners Insurance Co raised its stake in shares of Snap-On by 35,967.2% during the first quarter. Auto Owners Insurance Co now owns 1,073,000 shares of the company’s stock valued at $361,612,000 after acquiring an additional 1,070,025 shares during the last quarter. GAMMA Investing LLC raised its stake in shares of Snap-On by 65,113.6% during the first quarter. GAMMA Investing LLC now owns 703,003 shares of the company’s stock valued at $236,919,000 after acquiring an additional 701,925 shares during the last quarter. Ameriprise Financial Inc. raised its stake in shares of Snap-On by 54.3% during the first quarter. Ameriprise Financial Inc. now owns 681,857 shares of the company’s stock valued at $229,793,000 after acquiring an additional 239,908 shares during the last quarter. Nuveen LLC bought a new position in shares of Snap-On during the first quarter valued at $45,711,000. Finally, Charles Schwab Investment Management Inc. raised its stake in Snap-On by 6.4% during the first quarter. Charles Schwab Investment Management Inc. now owns 1,921,584 shares of the company’s stock worth $647,593,000 after buying an additional 115,306 shares during the last quarter. Institutional investors own 84.88% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on SNA shares. Barrington Research restated an “outperform” rating and issued a $350.00 target price on shares of Snap-On in a report on Tuesday, July 15th. Bank of America increased their price target on Snap-On from $265.00 to $285.00 and gave the stock an “underperform” rating in a report on Friday, July 18th. Tigress Financial increased their price target on Snap-On from $390.00 to $395.00 and gave the stock a “buy” rating in a report on Friday, August 29th. Finally, Robert W. Baird increased their price target on Snap-On from $329.00 to $347.00 and gave the stock a “neutral” rating in a report on Friday, July 18th. Four equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $357.00.

Snap-On Stock Up 2.0%

Snap-On stock opened at $340.19 on Tuesday. Snap-On Incorporated has a fifty-two week low of $279.74 and a fifty-two week high of $373.89. The stock has a market cap of $17.74 billion, a PE ratio of 18.14, a price-to-earnings-growth ratio of 2.32 and a beta of 0.77. The firm’s 50-day simple moving average is $325.41 and its 200 day simple moving average is $322.75. The company has a debt-to-equity ratio of 0.21, a quick ratio of 3.42 and a current ratio of 4.48.

Snap-On (NYSE:SNA) last released its quarterly earnings results on Thursday, July 17th. The company reported $4.72 earnings per share for the quarter, topping the consensus estimate of $4.61 by $0.11. Snap-On had a net margin of 20.98% and a return on equity of 18.02%. The business had revenue of $1.18 billion for the quarter, compared to analysts’ expectations of $1.16 billion. During the same period in the previous year, the company earned $5.07 earnings per share. The firm’s revenue for the quarter was up .0% compared to the same quarter last year. Research analysts predict that Snap-On Incorporated will post 19.79 EPS for the current fiscal year.

Snap-On Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 10th. Investors of record on Tuesday, August 19th were issued a dividend of $2.14 per share. The ex-dividend date was Tuesday, August 19th. This represents a $8.56 annualized dividend and a yield of 2.5%. Snap-On’s payout ratio is 45.65%.

Insider Activity

In other Snap-On news, CFO Aldo John Pagliari sold 125 shares of Snap-On stock in a transaction dated Friday, August 15th. The shares were sold at an average price of $325.21, for a total value of $40,651.25. Following the sale, the chief financial officer owned 111,721 shares of the company’s stock, valued at approximately $36,332,786.41. The trade was a 0.11% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Nicholas T. Pinchuk sold 23,042 shares of Snap-On stock in a transaction dated Monday, August 11th. The stock was sold at an average price of $320.88, for a total transaction of $7,393,716.96. Following the completion of the sale, the chief executive officer directly owned 815,219 shares in the company, valued at approximately $261,587,472.72. This represents a 2.75% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 27,898 shares of company stock worth $8,983,203. Insiders own 3.90% 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.