Public Employees Retirement System of Ohio Makes New Investment in Snap-On Incorporated $SNA

Public Employees Retirement System of Ohio purchased a new stake in shares of Snap-On Incorporated (NYSE:SNA) in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm purchased 17,944 shares of the company’s stock, valued at approximately $7,221,000.

Other institutional investors also recently modified their holdings of the company. DV Equities LLC acquired a new stake in Snap-On in the fourth quarter valued at $25,000. Western Wealth Management LLC acquired a new position in Snap-On during the 1st quarter worth about $29,000. Montag A & Associates Inc. lifted its holdings in Snap-On by 331.8% during the 4th quarter. Montag A & Associates Inc. now owns 95 shares of the company’s stock worth $33,000 after buying an additional 73 shares during the period. Quattro Advisors LLC bought a new stake in shares of Snap-On in the 4th quarter valued at about $35,000. Finally, Annis Gardner Whiting Capital Advisors LLC grew its position in shares of Snap-On by 36.4% in the 4th quarter. Annis Gardner Whiting Capital Advisors LLC now owns 105 shares of the company’s stock valued at $36,000 after buying an additional 28 shares during the last quarter. Institutional investors own 84.88% of the company’s stock.

Snap-On Stock Down 1.3%

Shares of NYSE:SNA opened at $381.30 on Wednesday. Snap-On Incorporated has a 1 year low of $319.20 and a 1 year high of $423.02. The company has a debt-to-equity ratio of 0.15, a current ratio of 3.43 and a quick ratio of 2.64. The business’s 50-day moving average is $403.96 and its 200-day moving average is $385.45. The company has a market capitalization of $19.72 billion, a price-to-earnings ratio of 19.44, a P/E/G ratio of 2.72 and a beta of 0.72.

Snap-On (NYSE:SNA) last released its earnings results on Thursday, July 23rd. The company reported $4.96 EPS for the quarter, topping the consensus estimate of $4.95 by $0.01. The business had revenue of $1.24 billion during the quarter, compared to analysts’ expectations of $1.22 billion. Snap-On had a return on equity of 17.07% and a net margin of 21.25%.The firm’s revenue was up 4.7% on a year-over-year basis. During the same quarter last year, the firm posted $4.72 earnings per share. Equities research analysts predict that Snap-On Incorporated will post 19.7 earnings per share for the current year.

Snap-On Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 10th. Stockholders of record on Wednesday, August 19th will be given a dividend of $2.44 per share. The ex-dividend date of this dividend is Wednesday, August 19th. This represents a $9.76 annualized dividend and a dividend yield of 2.6%. Snap-On’s dividend payout ratio (DPR) is 49.77%.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on SNA. Barclays initiated coverage on Snap-On in a research report on Thursday, May 28th. They set an “overweight” rating and a $420.00 price objective for the company. Roth Capital reiterated a “buy” rating and issued a $461.00 target price (up from $409.00) on shares of Snap-On in a report on Friday, July 24th. Robert W. Baird set a $415.00 price target on shares of Snap-On in a report on Friday, July 24th. Weiss Ratings restated a “buy (b)” rating on shares of Snap-On in a research report on Friday, July 17th. Finally, Tigress Financial upped their price objective on shares of Snap-On from $445.00 to $485.00 and gave the company a “buy” rating in a research note on Friday, July 31st. Five investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat, Snap-On presently has a consensus rating of “Moderate Buy” and a consensus target price of $426.20.

Insider Buying and Selling

In related news, CEO Nicholas T. Pinchuk sold 22,889 shares of the stock in a transaction on Tuesday, August 18th. The shares were sold at an average price of $399.69, for a total transaction of $9,148,504.41. Following the transaction, the chief executive officer directly owned 867,779 shares of the company’s stock, valued at $346,842,588.51. This represents a 2.57% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Aldo John Pagliari sold 5,531 shares of the firm’s stock in a transaction on Thursday, August 13th. The stock was sold at an average price of $404.25, for a total transaction of $2,235,906.75. Following the completion of the sale, the chief financial officer owned 120,644 shares of the company’s stock, valued at $48,770,337. The trade was a 4.38% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 46,728 shares of company stock worth $18,803,009 over the last ninety days. 3.80% of the stock is owned by company insiders.

Snap-On Company Profile

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.