Commonwealth of Pennsylvania Public School Empls Retrmt SYS Grows Stock Holdings in Snap-on Incorporated (NYSE:SNA)

Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its holdings in Snap-on Incorporated (NYSE:SNA) by 2.5% in the second quarter, Holdings Channel reports. The institutional investor owned 9,232 shares of the company’s stock after acquiring an additional 228 shares during the quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in Snap-on were worth $2,661,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also bought and sold shares of the business. Avantax Planning Partners Inc. lifted its position in Snap-on by 3.7% during the second quarter. Avantax Planning Partners Inc. now owns 1,093 shares of the company’s stock valued at $315,000 after purchasing an additional 39 shares during the last quarter. Shaker Investments LLC OH lifted its position in Snap-on by 0.6% during the second quarter. Shaker Investments LLC OH now owns 6,152 shares of the company’s stock valued at $1,773,000 after purchasing an additional 39 shares during the last quarter. Ballentine Partners LLC lifted its position in Snap-on by 4.8% during the second quarter. Ballentine Partners LLC now owns 897 shares of the company’s stock valued at $259,000 after purchasing an additional 41 shares during the last quarter. Financial Gravity Asset Management Inc. lifted its position in Snap-on by 16.6% during the second quarter. Financial Gravity Asset Management Inc. now owns 288 shares of the company’s stock valued at $20,236,000 after purchasing an additional 41 shares during the last quarter. Finally, J. W. Coons Advisors LLC lifted its position in Snap-on by 2.3% during the first quarter. J. W. Coons Advisors LLC now owns 1,899 shares of the company’s stock valued at $469,000 after purchasing an additional 42 shares during the last quarter. 83.90% of the stock is currently owned by hedge funds and other institutional investors.

Snap-on Trading Down 0.2 %

NYSE SNA opened at $275.27 on Tuesday. The company has a debt-to-equity ratio of 0.24, a quick ratio of 2.62 and a current ratio of 3.67. The company has a market capitalization of $14.53 billion, a price-to-earnings ratio of 14.94, a price-to-earnings-growth ratio of 1.86 and a beta of 1.06. The company’s 50-day simple moving average is $260.08 and its two-hundred day simple moving average is $266.57. Snap-on Incorporated has a one year low of $220.21 and a one year high of $297.26.

Snap-on (NYSE:SNA) last posted its earnings results on Thursday, October 19th. The company reported $4.51 EPS for the quarter, beating analysts’ consensus estimates of $4.44 by $0.07. The business had revenue of $1.16 billion for the quarter, compared to the consensus estimate of $1.15 billion. Snap-on had a net margin of 21.21% and a return on equity of 21.20%. The company’s revenue for the quarter was up 5.2% on a year-over-year basis. During the same quarter last year, the firm posted $4.14 EPS. Equities analysts forecast that Snap-on Incorporated will post 18.62 EPS for the current fiscal year.

Snap-on Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 11th. Shareholders of record on Tuesday, November 21st will be given a dividend of $1.86 per share. This is an increase from Snap-on’s previous quarterly dividend of $1.62. The ex-dividend date of this dividend is Monday, November 20th. This represents a $7.44 dividend on an annualized basis and a yield of 2.70%. Snap-on’s dividend payout ratio (DPR) is 35.18%.

Insider Buying and Selling at Snap-on

In other news, CFO Aldo John Pagliari sold 4,842 shares of Snap-on stock in a transaction that occurred on Tuesday, September 12th. The shares were sold at an average price of $262.13, for a total value of $1,269,233.46. Following the transaction, the chief financial officer now owns 86,888 shares of the company’s stock, valued at approximately $22,775,951.44. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, CEO Nicholas T. Pinchuk sold 22,078 shares of Snap-on stock in a transaction that occurred on Tuesday, September 19th. The shares were sold at an average price of $258.16, for a total value of $5,699,656.48. Following the transaction, the chief executive officer now owns 697,506 shares of the company’s stock, valued at approximately $180,068,148.96. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Aldo John Pagliari sold 4,842 shares of Snap-on stock in a transaction that occurred on Tuesday, September 12th. The stock was sold at an average price of $262.13, for a total transaction of $1,269,233.46. Following the completion of the transaction, the chief financial officer now directly owns 86,888 shares in the company, valued at approximately $22,775,951.44. The disclosure for this sale can be found here. Insiders own 4.20% of the company’s stock.

Analysts Set New Price Targets

SNA has been the subject of several analyst reports. Tigress Financial raised their target price on shares of Snap-on from $328.00 to $336.00 and gave the stock a “buy” rating in a report on Friday, September 29th. StockNews.com initiated coverage on shares of Snap-on in a report on Thursday, October 5th. They issued a “buy” rating for the company. Barrington Research restated an “outperform” rating and issued a $325.00 target price on shares of Snap-on in a report on Monday, July 24th. Finally, Roth Mkm restated a “buy” rating and issued a $324.00 target price on shares of Snap-on in a report on Thursday, October 19th. One analyst has rated the stock with a sell rating, four have given a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $298.17.

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.