Snap-On Incorporated $SNA Shares Sold by Texas Permanent School Fund Corp

Texas Permanent School Fund Corp trimmed its holdings in shares of Snap-On Incorporated (NYSE:SNA) by 38.5% in the second quarter, Holdings Channel reports. The firm owned 3,566 shares of the company’s stock after selling 2,233 shares during the period. Texas Permanent School Fund Corp’s holdings in Snap-On were worth $1,110,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in SNA. Tobam acquired a new stake in shares of Snap-On in the second quarter valued at about $29,000. Ameritas Advisory Services LLC purchased a new stake in shares of Snap-On during the second quarter valued at approximately $30,000. Vermillion & White Wealth Management Group LLC lifted its position in shares of Snap-On by 97.9% during the second quarter. Vermillion & White Wealth Management Group LLC now owns 95 shares of the company’s stock worth $30,000 after purchasing an additional 47 shares in the last quarter. Ransom Advisory Ltd purchased a new position in shares of Snap-On in the first quarter valued at $34,000. Finally, Thurston Springer Miller Herd & Titak Inc. boosted its stake in shares of Snap-On by 52.8% in the second quarter. Thurston Springer Miller Herd & Titak Inc. now owns 110 shares of the company’s stock valued at $34,000 after purchasing an additional 38 shares during the period. 84.88% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Snap-On

In other news, CFO Aldo John Pagliari sold 6,779 shares of the firm’s stock in a transaction dated Thursday, December 11th. The shares were sold at an average price of $352.20, for a total value of $2,387,563.80. Following the transaction, the chief financial officer directly owned 111,888 shares in the company, valued at approximately $39,406,953.60. This trade represents a 5.71% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Nicholas T. Pinchuk sold 22,607 shares of the business’s stock in a transaction dated Tuesday, December 2nd. The shares were sold at an average price of $339.15, for a total transaction of $7,667,164.05. Following the sale, the chief executive officer directly owned 826,364 shares of the company’s stock, valued at approximately $280,261,350.60. This represents a 2.66% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 40,036 shares of company stock valued at $13,710,988 over the last three months. 3.90% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of brokerages have commented on SNA. Roth Capital reiterated a “buy” rating and issued a $385.00 price objective on shares of Snap-On in a report on Friday, October 17th. Wall Street Zen upgraded Snap-On from a “hold” rating to a “buy” rating in a research note on Saturday, October 18th. Robert W. Baird raised their price objective on Snap-On from $355.00 to $365.00 and gave the company a “neutral” rating in a research note on Friday, October 17th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Snap-On in a research report on Wednesday, October 8th. Finally, Barrington Research reiterated an “outperform” rating and set a $350.00 target price on shares of Snap-On in a research note on Wednesday, October 15th. Five research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $365.00.

Snap-On Stock Up 0.3%

Shares of Snap-On stock opened at $352.91 on Thursday. The business has a 50-day moving average price of $342.12 and a 200 day moving average price of $331.53. Snap-On Incorporated has a fifty-two week low of $289.81 and a fifty-two week high of $365.78. The firm has a market cap of $18.36 billion, a P/E ratio of 18.51, a P/E/G ratio of 2.66 and a beta of 0.78. The company has a quick ratio of 3.37, a current ratio of 4.40 and a debt-to-equity ratio of 0.20.

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

Snap-On Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, December 10th. Shareholders of record on Friday, November 21st were paid a dividend of $2.44 per share. The ex-dividend date was Friday, November 21st. This is a positive change from Snap-On’s previous quarterly dividend of $2.14. This represents a $9.76 annualized dividend and a yield of 2.8%. Snap-On’s payout ratio is presently 51.18%.

About Snap-On

Snap?On Incorporated (NYSE: SNA) is a designer, manufacturer and marketer of tools, diagnostic equipment, repair information and shop equipment for professional users. The company’s product range includes hand and power tools, tool storage and cabinets, diagnostic scan tools and software, shop equipment such as lifts and tire changers, and specialized specialty tools for automotive, aviation, marine and industrial applications. Snap?On also offers information and workflow solutions that combine diagnostic data, repair procedures and parts information to support professional technicians.

Founded in 1920 and headquartered in Kenosha, Wisconsin, Snap?On has established a long history in the professional tools market.