New York State Teachers Retirement System Sells 5,057 Shares of Snap-On Incorporated $SNA

New York State Teachers Retirement System trimmed its holdings in shares of Snap-On Incorporated (NYSE:SNA) by 8.9% during the second quarter, HoldingsChannel reports. The fund owned 51,803 shares of the company’s stock after selling 5,057 shares during the quarter. New York State Teachers Retirement System’s holdings in Snap-On were worth $16,120,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of SNA. Alpine Bank Wealth Management bought a new stake in shares of Snap-On in the first quarter worth $25,000. Ameritas Advisory Services LLC acquired a new position in Snap-On during the 2nd quarter worth about $30,000. Golden State Wealth Management LLC grew its position in shares of Snap-On by 421.1% in the 1st quarter. Golden State Wealth Management LLC now owns 99 shares of the company’s stock valued at $33,000 after buying an additional 80 shares during the last quarter. Cullen Frost Bankers Inc. increased its stake in shares of Snap-On by 248.3% in the first quarter. Cullen Frost Bankers Inc. now owns 101 shares of the company’s stock valued at $34,000 after buying an additional 72 shares during the period. Finally, Ransom Advisory Ltd bought a new position in shares of Snap-On during the first quarter worth about $34,000. Institutional investors own 84.88% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently commented on SNA shares. Barrington Research reiterated an “outperform” rating and issued a $350.00 target price on shares of Snap-On in a report on Wednesday. Robert W. Baird upped their price objective on shares of Snap-On from $355.00 to $365.00 and gave the company a “neutral” rating in a research note on Friday. Weiss Ratings reissued a “buy (b)” rating on shares of Snap-On in a research note on Wednesday, October 8th. Wall Street Zen raised shares of Snap-On from a “hold” rating to a “buy” rating in a research report on Saturday. Finally, Roth Capital reiterated a “buy” rating and set a $385.00 price target on shares of Snap-On in a report on Friday. Six research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $363.57.

Insider Activity at Snap-On

In other Snap-On news, CFO Aldo John Pagliari sold 4,731 shares of the firm’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 completion of the sale, the chief financial officer owned 111,667 shares of the company’s stock, valued at approximately $36,557,542.46. This trade represents a 4.06% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Nicholas T. Pinchuk sold 23,042 shares of the company’s stock in a transaction that occurred on Monday, August 11th. The stock was sold at an average price of $320.88, for a total value of $7,393,716.96. Following the transaction, the chief executive officer directly owned 815,219 shares in the company, valued at $261,587,472.72. The trade was a 2.75% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 27,898 shares of company stock worth $8,983,203. Corporate insiders own 3.90% of the company’s stock.

Snap-On Stock Down 1.3%

Snap-On stock opened at $339.61 on Friday. The company has a market capitalization of $17.71 billion, a PE ratio of 17.81, a PEG ratio of 2.36 and a beta of 0.78. Snap-On Incorporated has a 12-month low of $289.81 and a 12-month high of $373.89. The firm’s fifty day moving average is $332.77 and its 200 day moving average is $323.71. The company has a quick ratio of 3.42, a current ratio of 4.40 and a debt-to-equity ratio of 0.20.

Snap-On (NYSE:SNA) last posted its quarterly earnings results on Thursday, October 16th. The company reported $4.71 earnings per share for the quarter, beating the consensus estimate of $4.59 by $0.12. Snap-On had a net margin of 21.08% and a return on equity of 17.71%. The firm had revenue of $1.19 billion during the quarter, compared to the consensus estimate of $1.16 billion. During the same period in the previous year, the firm posted $4.70 earnings per share. The business’s revenue was up 3.8% compared to the same quarter last year. As a group, sell-side analysts predict that Snap-On Incorporated will post 19.79 EPS for the current fiscal year.

Snap-On Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 10th. Investors of record on Tuesday, August 19th were paid a dividend of $2.14 per share. This represents a $8.56 dividend on an annualized basis and a yield of 2.5%. The ex-dividend date of this dividend was Tuesday, August 19th. Snap-On’s dividend payout ratio is 44.89%.

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.