Public Employees Retirement System of Ohio Has $6.52 Million Position in Snap-on Incorporated (NYSE:SNA)

Public Employees Retirement System of Ohio decreased its position in shares of Snap-on Incorporated (NYSE:SNA) by 6.0% during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 22,492 shares of the company’s stock after selling 1,436 shares during the quarter. Public Employees Retirement System of Ohio’s holdings in Snap-on were worth $6,516,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of SNA. Mawer Investment Management Ltd. raised its position in shares of Snap-on by 234.7% during the second quarter. Mawer Investment Management Ltd. now owns 632,226 shares of the company’s stock worth $165,258,000 after acquiring an additional 443,333 shares during the last quarter. Pacer Advisors Inc. raised its holdings in Snap-on by 51.2% during the 2nd quarter. Pacer Advisors Inc. now owns 829,471 shares of the company’s stock worth $216,815,000 after purchasing an additional 280,997 shares during the last quarter. Millennium Management LLC lifted its position in Snap-on by 1,786.4% during the 2nd quarter. Millennium Management LLC now owns 161,175 shares of the company’s stock valued at $42,130,000 after purchasing an additional 152,631 shares during the period. Benjamin Edwards Inc. boosted its stake in shares of Snap-on by 2,691.2% in the 3rd quarter. Benjamin Edwards Inc. now owns 158,092 shares of the company’s stock valued at $45,810,000 after purchasing an additional 152,428 shares during the last quarter. Finally, International Assets Investment Management LLC grew its position in shares of Snap-on by 34,381.0% during the 3rd quarter. International Assets Investment Management LLC now owns 130,338 shares of the company’s stock worth $37,760,000 after buying an additional 129,960 shares during the period. 84.88% of the stock is currently owned by institutional investors.

Snap-on Stock Performance

SNA stock opened at $355.11 on Friday. Snap-on Incorporated has a 1-year low of $252.98 and a 1-year high of $373.89. The business’s 50-day moving average price is $340.72 and its two-hundred day moving average price is $297.02. The firm has a market cap of $18.65 billion, a PE ratio of 18.28, a P/E/G ratio of 2.35 and a beta of 0.98. The company has a current ratio of 4.18, a quick ratio of 3.14 and a debt-to-equity ratio of 0.22.

Snap-on (NYSE:SNA) last released its quarterly earnings data on Thursday, October 17th. The company reported $4.70 earnings per share for the quarter, beating the consensus estimate of $4.58 by $0.12. Snap-on had a return on equity of 19.44% and a net margin of 22.13%. The business had revenue of $1.15 billion for the quarter, compared to analysts’ expectations of $1.16 billion. As a group, research analysts forecast that Snap-on Incorporated will post 19.05 earnings per share for the current year.

Snap-on Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Thursday, November 21st were given a dividend of $2.14 per share. This is an increase from Snap-on’s previous quarterly dividend of $1.86. The ex-dividend date was Thursday, November 21st. This represents a $8.56 annualized dividend and a dividend yield of 2.41%. Snap-on’s dividend payout ratio is currently 44.06%.

Insider Buying and Selling

In other news, CEO Nicholas T. Pinchuk sold 21,783 shares of the firm’s stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $354.83, for a total transaction of $7,729,261.89. Following the completion of the transaction, the chief executive officer now directly owns 769,738 shares of the company’s stock, valued at $273,126,134.54. This trade represents a 2.75 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Richard Thomas Miller sold 1,750 shares of the business’s stock in a transaction on Friday, October 18th. The stock was sold at an average price of $330.00, for a total transaction of $577,500.00. Following the completion of the sale, the vice president now directly owns 3,218 shares in the company, valued at approximately $1,061,940. This represents a 35.23 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 45,814 shares of company stock worth $15,627,963 over the last ninety days. Company insiders own 4.10% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on SNA. Tigress Financial raised their price objective on shares of Snap-on from $336.00 to $385.00 and gave the company a “buy” rating in a research note on Friday, October 25th. Barrington Research raised their price target on Snap-on from $325.00 to $350.00 and gave the stock an “outperform” rating in a research report on Thursday, October 17th. Bank of America upped their price objective on Snap-on from $255.00 to $280.00 and gave the company an “underperform” rating in a report on Friday, October 18th. Robert W. Baird raised their target price on Snap-on from $290.00 to $347.00 and gave the stock a “neutral” rating in a report on Friday, October 18th. Finally, Roth Mkm upped their price target on Snap-on from $324.00 to $365.00 and gave the company a “buy” rating in a research note on Tuesday, October 22nd. One investment analyst has rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $345.40.

About Snap-on

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.