Commonwealth of Pennsylvania Public School Empls Retrmt SYS Has $2.66 Million Stock Holdings in Snap-on Incorporated (NYSE:SNA)

Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its stake in shares of Snap-on Incorporated (NYSE:SNA) by 2.5% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 9,232 shares of the company’s stock after purchasing an additional 228 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in Snap-on were worth $2,661,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of SNA. MetLife Investment Management LLC raised its position in shares of Snap-on by 22.4% during the first quarter. MetLife Investment Management LLC now owns 14,527 shares of the company’s stock worth $2,985,000 after purchasing an additional 2,657 shares during the period. Sei Investments Co. grew its holdings in shares of Snap-on by 11.3% during the first quarter. Sei Investments Co. now owns 125,365 shares of the company’s stock valued at $25,727,000 after buying an additional 12,720 shares in the last quarter. Aviva PLC grew its holdings in shares of Snap-on by 12.3% during the first quarter. Aviva PLC now owns 33,102 shares of the company’s stock valued at $6,802,000 after buying an additional 3,636 shares in the last quarter. Prudential PLC purchased a new position in shares of Snap-on during the first quarter valued at $302,000. Finally, Cetera Investment Advisers grew its holdings in shares of Snap-on by 159.8% during the first quarter. Cetera Investment Advisers now owns 8,133 shares of the company’s stock valued at $1,671,000 after buying an additional 5,003 shares in the last quarter. 83.90% of the stock is owned by institutional investors and hedge funds.

Snap-on Stock Performance

SNA stock opened at $275.27 on Tuesday. The business’s 50-day moving average price is $260.08 and its two-hundred day moving average price is $266.57. The company has a current ratio of 3.67, a quick ratio of 2.62 and a debt-to-equity ratio of 0.24. The firm has a market cap of $14.53 billion, a PE ratio of 14.94, a P/E/G ratio of 1.86 and a beta of 1.06. Snap-on Incorporated has a 1-year low of $220.21 and a 1-year high of $297.26.

Snap-on (NYSE:SNA) last issued its quarterly 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 company had revenue of $1.16 billion for the quarter, compared to analyst estimates of $1.15 billion. Snap-on had a return on equity of 21.20% and a net margin of 21.21%. The company’s quarterly revenue was up 5.2% compared to the same quarter last year. During the same period in the previous year, the company posted $4.14 earnings per share. As a group, research analysts forecast that Snap-on Incorporated will post 18.62 earnings per share for the current year.

Snap-on Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 11th. Stockholders of record on Tuesday, November 21st will be issued a $1.86 dividend. This represents a $7.44 dividend on an annualized basis and a dividend yield of 2.70%. This is a positive change from Snap-on’s previous quarterly dividend of $1.62. The ex-dividend date of this dividend is Monday, November 20th. Snap-on’s payout ratio is 35.18%.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on SNA shares. StockNews.com initiated coverage on Snap-on in a report on Thursday, October 5th. They set a “buy” rating on the stock. Roth Mkm reaffirmed a “buy” rating and issued a $324.00 price target on shares of Snap-on in a research report on Thursday, October 19th. Barrington Research reissued an “outperform” rating and set a $325.00 price objective on shares of Snap-on in a research report on Monday, July 24th. Finally, Tigress Financial boosted their price objective on Snap-on from $328.00 to $336.00 and gave the stock a “buy” rating in a research report on Friday, September 29th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $298.17.

Insider Activity

In other news, CFO Aldo John Pagliari sold 4,842 shares of the business’s stock in a transaction dated Tuesday, September 12th. The stock was sold at an average price of $262.13, for a total value of $1,269,233.46. Following the sale, the chief financial officer now directly owns 86,888 shares in the company, valued at $22,775,951.44. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, CEO Nicholas T. Pinchuk sold 22,078 shares of Snap-on stock in a transaction dated Tuesday, September 19th. The stock was sold at an average price of $258.16, for a total value of $5,699,656.48. Following the sale, the chief executive officer now owns 697,506 shares of the company’s stock, valued at $180,068,148.96. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Aldo John Pagliari sold 4,842 shares of Snap-on stock in a transaction dated 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 completion of the sale, 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. Corporate insiders own 4.20% of the company’s stock.

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.