Public Employees Retirement System of Ohio Has $6.48 Million Stock Holdings in Snap-On Incorporated $SNA

Public Employees Retirement System of Ohio lifted its stake in shares of Snap-On Incorporated (NYSE:SNA) by 3.4% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 20,827 shares of the company’s stock after purchasing an additional 692 shares during the period. Public Employees Retirement System of Ohio’s holdings in Snap-On were worth $6,481,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Wellington Management Group LLP increased its position in Snap-On by 5.5% during the fourth quarter. Wellington Management Group LLP now owns 17,220 shares of the company’s stock worth $5,846,000 after buying an additional 901 shares during the last quarter. GAMMA Investing LLC boosted its stake in shares of Snap-On by 65,113.6% during the 1st quarter. GAMMA Investing LLC now owns 703,003 shares of the company’s stock worth $236,919,000 after acquiring an additional 701,925 shares during the period. Parallel Advisors LLC increased its holdings in shares of Snap-On by 12.5% during the 1st quarter. Parallel Advisors LLC now owns 601 shares of the company’s stock worth $202,000 after acquiring an additional 67 shares during the last quarter. Rhumbline Advisers raised its stake in Snap-On by 4.4% in the 1st quarter. Rhumbline Advisers now owns 115,827 shares of the company’s stock valued at $39,035,000 after acquiring an additional 4,910 shares during the period. Finally, Czech National Bank lifted its holdings in Snap-On by 5.7% during the 1st quarter. Czech National Bank now owns 12,033 shares of the company’s stock valued at $4,055,000 after purchasing an additional 648 shares during the last quarter. 84.88% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages recently commented on SNA. Bank of America upped their price target on shares of Snap-On from $265.00 to $285.00 and gave the company an “underperform” rating in a research note on Friday, July 18th. Barrington Research reaffirmed an “outperform” rating and issued a $350.00 target price on shares of Snap-On in a research report on Tuesday, September 23rd. Tigress Financial lifted 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 upped their price objective on Snap-On from $329.00 to $347.00 and gave the company a “neutral” rating in a report on Friday, July 18th. Four equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $357.00.

Insider Buying and Selling at Snap-On

In related news, CFO Aldo John Pagliari sold 4,731 shares of the company’s stock in a transaction that occurred on Thursday, August 14th. The stock was sold at an average price of $327.38, for a total value of $1,548,834.78. Following the sale, the chief financial officer directly owned 111,667 shares in the company, valued at $36,557,542.46. This represents a 4.06% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Nicholas T. Pinchuk sold 23,042 shares of the stock in a transaction on 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 sale, the chief executive officer owned 815,219 shares of the company’s stock, valued at approximately $261,587,472.72. This trade represents a 2.75% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 27,898 shares of company stock valued at $8,983,203. 3.90% of the stock is owned by corporate insiders.

Snap-On Trading Up 1.5%

Shares of SNA opened at $341.94 on Monday. 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 Incorporated has a 52-week low of $284.38 and a 52-week high of $373.89. The firm has a market cap of $17.84 billion, a price-to-earnings ratio of 18.24, a PEG ratio of 2.38 and a beta of 0.77. The business’s fifty day moving average is $328.29 and its 200-day moving average is $323.03.

Snap-On (NYSE:SNA) last announced its quarterly earnings results on Thursday, July 17th. The company reported $4.72 earnings per share (EPS) 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 company had revenue of $1.18 billion during the quarter, compared to the consensus estimate of $1.16 billion. During the same period in the prior year, the business earned $5.07 earnings per share. The company’s revenue for the quarter was up .0% compared to the same quarter last year. Equities analysts anticipate that Snap-On Incorporated will post 19.79 EPS for the current fiscal year.

Snap-On Announces Dividend

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

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.