Snap-on Incorporated (NYSE:SNA) Position Decreased by Public Employees Retirement System of Ohio

Public Employees Retirement System of Ohio trimmed its stake in Snap-on Incorporated (NYSE:SNA) by 6.0% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund 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 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Aurora Investment Counsel lifted its position in Snap-on by 0.9% in the 3rd quarter. Aurora Investment Counsel now owns 3,549 shares of the company’s stock worth $1,028,000 after buying an additional 30 shares in the last quarter. Lake Street Advisors Group LLC grew its holdings in Snap-on by 3.1% during the third quarter. Lake Street Advisors Group LLC now owns 1,074 shares of the company’s stock valued at $311,000 after purchasing an additional 32 shares during the last quarter. Metis Global Partners LLC raised its position in shares of Snap-on by 1.9% in the third quarter. Metis Global Partners LLC now owns 1,691 shares of the company’s stock valued at $490,000 after purchasing an additional 32 shares during the period. Tradition Wealth Management LLC lifted its stake in shares of Snap-on by 3.1% in the third quarter. Tradition Wealth Management LLC now owns 1,154 shares of the company’s stock worth $334,000 after buying an additional 35 shares during the last quarter. Finally, Verdence Capital Advisors LLC boosted its holdings in shares of Snap-on by 2.5% during the 3rd quarter. Verdence Capital Advisors LLC now owns 1,526 shares of the company’s stock worth $442,000 after buying an additional 37 shares during the period. Hedge funds and other institutional investors own 84.88% of the company’s stock.

Wall Street Analyst Weigh In

SNA has been the subject of a number of research analyst reports. Barrington Research boosted their target price on shares of 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 increased their target price on Snap-on from $255.00 to $280.00 and gave the company an “underperform” rating in a research note on Friday, October 18th. Robert W. Baird lifted their price target on Snap-on from $290.00 to $347.00 and gave the stock a “neutral” rating in a research report on Friday, October 18th. Roth Mkm increased their price objective on Snap-on from $324.00 to $365.00 and gave the company a “buy” rating in a research report on Tuesday, October 22nd. Finally, Tigress Financial raised their price objective on shares of Snap-on from $336.00 to $385.00 and gave the stock a “buy” rating in a research note on Friday, October 25th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $345.40.

Snap-on Stock Performance

NYSE SNA opened at $355.11 on Friday. Snap-on Incorporated has a twelve month low of $252.98 and a twelve month high of $373.89. The company has a quick ratio of 3.14, a current ratio of 4.18 and a debt-to-equity ratio of 0.22. The stock has a market cap of $18.65 billion, a P/E ratio of 18.28, a PEG ratio of 2.35 and a beta of 0.98. The company’s 50-day simple moving average is $340.72 and its 200 day simple moving average is $297.02.

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 company had revenue of $1.15 billion for the quarter, compared to analyst estimates of $1.16 billion. As a group, research analysts forecast that Snap-on Incorporated will post 19.05 earnings per share for the current fiscal year.

Snap-on Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Thursday, November 21st were issued a $2.14 dividend. This is a positive change 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 presently 44.06%.

Insider Buying and Selling

In related news, VP Iain Boyd sold 6,044 shares of the firm’s stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $298.99, for a total transaction of $1,807,095.56. Following the completion of the sale, the vice president now directly owns 10,493 shares of the company’s stock, valued at $3,137,302.07. This trade represents a 36.55 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Thomas J. Ward sold 12,737 shares of Snap-on stock in a transaction on Monday, October 28th. The shares were sold at an average price of $333.21, for a total value of $4,244,095.77. Following the completion of the transaction, the senior vice president now owns 55,401 shares of the company’s stock, valued at approximately $18,460,167.21. The trade was a 18.69 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 45,814 shares of company stock worth $15,627,963 in the last quarter. 4.10% of the stock is owned by corporate insiders.

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.